Great Panther Silver Ltd. announced that Scott Wilson Roscoe Postle Associates, Inc. has delivered an update to the ongoing mineral resource development at the company's 100% owned Topia Silver-Gold-Lead-Zinc Mine in Durango, Mexico. The 2012 Measured & Indicated Mineral Resources total 156,000 tonnes at 806g/t silver, 1.47g/t gold, 6.48% lead and 4.29% zinc (5.60 million silver equivalent ounces). In addition, RPA estimates 273,000 tonnes of 837g/t silver, 0.8g/t gold, 5.7% lead and 3.9% zinc (9.54 million silver equivalent ounces) in the Inferred category.

The 2012 RPA mineral resource estimate provides updates for the following veins: Argentina (west, central, east, and footwall portions in the Argentina Mine), Santa Cruz, Don Benito (north, south, intermediate, and west veins in the 1522 and Crucero 9N Mines), Recompensa, Intermediate and Oliva (Recompensa and Rincon Mines), Cantarranas (Hormiguera Mine), San Jorge and San Miguel (San Miguel Mine), San Gregorio (San Gregorio, Mina 7, and Durangueno Mines), El Rosario, and La Prieta veins, plus new mineral resource estimates for the Oxidada, Oxi, Higueras, and San Pablo veins (all Durangueno Mine). The effective date for the resource is June 30, 2012, with delays being caused by scheduling issues and challenges relating to the complexity of the multiple vein zones at Topia. The estimate was based on a minimum NSR value of USD 170/tonne (corresponding to the first half of 2012 mining, processing costs, and 50% of the general and administrative costs).

This is applicable at Topia since the G&A costs are USD 39/tonne. Operating costs for the Topia Mine veins, as of the effective date, were USD 151/tonne ore mined and processed, and any additional resources to the mining plan would require no increase in G&A costs and reduced unit mining costs. The 2012 RPA mineral resource estimate assumed actual concentrate transport, and smelter treatment and refining charges in effect through 2012; RPA long term estimates of metal prices as of the fourth quarter of 2012 and typical plant recoveries for 2012 and minimum true width of 0.3 metres.