======================================================================= Re: News Release - Thursday, March 03, 2011 IMPACT Silver Announces Arrival Of Second Drill And Expanded Exploration Program At Zacualpan-Mamatla ======================================================================= IMPACT Silver Corp.

("IMPACT" or "the Company") is pleased to announce the arrival of a second surface drill at the large 623-square-kilometer Royal Mines of Zacualpan and Mamatla Mineral Districts in Mexico to enhance the exploration program and build mineral resources for its growing production profile.

The completion of a $15 million financing in late 2010 has enabled the Company to expedite construction of the new Capire Mine and pursue greatly expanded exploration programs, including 20,000 meters of drilling on several fronts. CAPIRE PROJECT: SILVER-LEAD-ZINC VMS EXPLORATION AND MINE CONSTRUCTION The Capire Silver-Lead-Zinc VMS Mine Development Project is located 16 kilometers southwest of the Companys operating Guadalupe processing plant.

At Capire, IMPACT is planning initial open pit production in late 2011 with construction of a 200-tpd (tonnes per day) pilot plant and plans to expand that plant once production parameters are established (see the Companys News Release dated February 1, 2011 for the most recent NI43-101 Mineral Resources at Capire).

The Capire operation represents first production from this new mining district and the start of a second operating center in IMPACTs large mineral holdings.

The first drill and an exploration team have recently been working at the Capire Deposit.

To date, condemnation drilling has been completed at the planned sites for the Capire processing plant, tailings dam and rock waste piles in preparation for mine construction.

Mine permitting is underway, and site preparation and surface stripping is anticipated to commence in late summer.

During the coming months, the drill will continue to test extensions of the Capire Deposit to the west, south and east where the deposit remains open for expansion before moving on to Phase One drilling on other nearby VMS exploration targets.

The overall Capire Subdistrict drill program is anticipated to exceed 10,000 meters this year. GUADALUPE PROJECT AREA: SILVER VEIN EXPLORATION The second drill supported by an exploration team will continue to drill and explore silver veins in the Royal Mines of Zacualpan production centre to build additional mineral resources within short trucking distance of the operating 500-tpd Guadalupe processing plant. This will include continued drilling in the Guadalupe-Chontalpan -Cuchara Sector ("GCC Sector").

Highlights from the GCC Sector drill results to date include 419 g/t Silver across 2.4 m at Santa Lucia, 4,800 g/t silver across 1.25 m at Golondrinas and 402 g/t Silver across 2.14 m at Chontalpan (see IMPACT News Release dated January 20, 2011 for a full summary of 2010 GCC Sector drill results).

Currently, the engineering staff is assessing the possibility of underground production at Santa Lucia while additional drilling is planned on Golondrinas and other targets. IMPACT is also planning to contract an underground drill later this year to carry out exploration of the Regenerador Vein Cluster in the Guadalupe Mine, located beside the Companys processing plant.

Recent mining in Guadalupe focused on the Lipton and Trinidad Vein Systems. The Regenerador Veins further to the west, however, are in a much older part of the mine.

Previously a significant portion of the Regenerador Vein Cluster was on mineral concessions owned by another party and was not mined.

Today IMPACT owns all these mineral concessions and upcoming underground drilling will explore the full vein system.

Initial underground sampling by IMPACT crews in the Regenerador Vein Cluster included 830 g/t silver and 0.56 g/t gold across 0.8 m true width exposed over a strike length of 50 m in nine samples, ranging up to 3,020 g/t silver and 0.13 g/t gold across 0.7 m true width from the Santa Isabella Vein. CARLOS PACHECO PROJECT AREA GOLD VEIN EXPLORATION The Noche Buena area is located four kilometers west of the operating Guadalupe processing plant.

Noche Buena began production in April 2010 on a silver breccia vein system but exploration crews have found multiple Gold-Copper vein systems nearby including the Carlos Pacheco Vein, where previous IMPACT drilling intersected 19.6 g/t Gold across 2.9 m and 11.3 g/t Gold across 2.1 m (see IMPACT News Release dated December 4, 2008).

The Companys mine crews are currently rehabilitating the extensive old mine workings at Carlos Pacheco to more completely sample and assess the gold-copper system and IMPACT exploration crews are preparing other nearby Gold-Silver Vein Systems for Phase One drill programs in the coming months. With a track record of successful exploration, rapid mine development and more than 2,000 old mine workings, most not yet drilled, IMPACTs long term vision sees potential for establishment of multiple processing plants throughout the districts, each fed by multiple mines. The building of a second production center at Capire in 2011 is the next step to fulfilling this vision. George Gorzynski, P.

Eng., Vice President and Director of IMPACT Silver, and a Qualified Person under the meaning of Canadian National Instrument 43 101, is responsible for the technical information in this news release. IMPACT Silver Corp.

is a profitable silver-focused mining and exploration company operating in Mexico with a producing silver operation at the 423-square-kilometer Royal Mines of Zacualpan District and the adjacent 200-square-kilometer Mamatla Mineral District which is host to the Capire Mine Development Project.

IMPACT also holds a portfolio of projects with an operational processing plant at Zacatecas.

Additional information on IMPACT and its projects can be found on the Companys website at www.IMPACTSilver.com On behalf of the Directors of IMPACT Silver Corp.,
"Frederick W.

Davidson" President & CEO For further information, please contact: Sunny Pannu, Investor Relations (604) 681 0172 or via email at
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements.

This IMPACT News Release contains certain "forward-looking" statements and information relating to IMPACT that are based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management.

Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events.

Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

IMPACT does not assume the obligation to update any forward-looking statement. ======================================================================= Copyright (c) 2011 IMPACT SILVER CORP.

(IPT) All rights reserved.

For more information visit our website at http://www.impactsilver.com/ or send mailto: =======================================================================