TSX Symbol: SAC

US OTC: SOHAF

News Release: 12-14

South American Silver Announces Change in President and CEO

13 August 2012, Vancouver, British Columbia—South American Silver Corp. (TSX:SAC, US OTC: SOHAF)(the “Company”) announces that Gregory Johnson has stepped down from his role as President and Chief Executive Officer and as a director of the Company effective August 13, 2012 in order to pursue other interests. The Company thanks him for his contributions and tenure as President and CEO and wishes him well.

The Company is pleased to announce that Phillip Brodie-Hall has been appointed interim President and Chief Executive Officer. Mr. Brodie-Hall has been the Company’s Chief Operating Officer since November 2011, before which he was a key member of the project development team on a consulting basis.

Ralph Fitch, Executive Chairman of the Company stated “We thank Greg for his contributions to the Company and welcome Phillip in his new role as President and CEO during this period of significant transition in our business”.

In Chile, the Company will expand activities at the Escalones copper-gold project and in Bolivia the Company is aggressively pursuing all options to maximize the value from the Malku Khota project. The Company has several essential components that position it well for the future including experienced leadership, a strong balance sheet and proprietary acid chloride leach technology that gives it a competitive advantage for developing bulk mineable deposits that contain both precious and base metals as well as indium and gallium. The Company has the opportunity in the period ahead to also look at other projects in a market that is very challenging for many companies to raise capital.

About South American Silver Corp.

South American Silver Corp. is a growth focused mineral exploration company creating value through the exploration and development of the large scale Escalones copper-gold project in Chile and the realization of value from the Malku Khota project in Bolivia. The Company’s approach to business combines the team’s track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry. The Company’s shares are listed on the Toronto Stock Exchange under the symbol “SAC” and on the US OTC market as “SOHAF”. Additional information related to South American Silver Corp. is available at