NSX Silver reports Phase 2 geochemical survey confirms and expands the Huerigo Silver Zone

BEDFORD, NS, Dec. 18, 2012 /CNW/ - NSX Silver Inc. (TSXV: NSY) is pleased to announce the successful completion of its Phase 2 geochemical survey conducted on the wholly-owned Oso Blanco II concession which is located approximately 5 kilometers from the Company's Dios Padre Silver Project. The survey covered the Huerigo Zone and other silver-lead-copper anomalies discovered during the Phase I geochemical survey (see NSX Silver press release dated August 21, 2012).  The Phase 2 program successfully delineated the Huerigo Zone in detail and confirmed the internal consistency and intensity of the silver anomaly.

The Phase 2 program covered 800 hectares of the 1,900 hectare Oso Blanco II concession and was designed to increase sample density and provide detailed information regarding the size, shape, and intensity of the anomalies.  A total of 941 rock chip surface samples were taken during the two programs.  In known anomalous zones rock chip samples were taken on a 50 meter grid with 25 meter sample spacing and at any changes in lithology or alteration.  Previously unexplored ground was sampled on a 100 meter grid with 50 meter sample spacing and at any change in lithology or alteration.

Anomalous zones were defined by elevated silver-lead-copper assay values supported by multi-element assay values that exceed the statistical background populations.  Background levels for silver, lead, and copper are 1.3, 18, and 20 ppm respectively. The main Huerigo metal anomaly occurs as an arcuate 900X300 meter multi-point silver anomaly, supported by coincident anomalous lead and copper values.  Silver values range from background to a maximum of 545 grams per tonne, with lead values reaching 2.05%  and copper reaching 2.1%  Of the total 941 samples tested, an impressive 302 samples (32%) contained anomalous silver, copper, and lead.

The Phase 2 program identified additional silver-lead-copper anomalies on the concession.  These zones will be evaluated by backhoe pits, trenching, geologic mapping, and detailed geochemical sampling.  Upon completion and analysis of the additional surface sampling programs, the Huerigo and other anomalous zones will be evaluated for a potential drill program.

Sample Protocol and QA/QC

Representative rock chip samples were taken, bagged, numbered, and sealed on site. The sealed samples were transported by Company personnel to ALS Chemex's preparation lab in Hermosillo.  Prepared sample pulps were forwarded by ALS Chemex to its Vancouver, Canada laboratory for analysis using ICP-61 methods.  A random selection of 10% of the samples from anomalous zones and 2% of those outside anomalous zones were resubmitted for reanalysis to determine the laboratory's accuracy, precision, and reproducibility.

Qualified Person

John E. Hiner, Licensed Geologist and Registered Member of SME (Society of Mining Engineers), a qualified person as defined by National Instrument 43-101 has reviewed and approved the information provided in this news release.

About NSX Silver

NSX Silver Inc. is a mineral exploration company actively exploring for silver and associated metals in Mexico.  NSX Silver's principal property is the Dios Padre Project located in Sonora State, Mexico. Additionally the Company holds approximately 5,000 hectares of prospective ground in the vicinity of the Dios Padre Project.  NSX Silver's shares are listed on the TSX Venture Exchange under the symbol NSY.

Forward-Looking Statements

This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation.Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of NSX Silver Inc. ("NSX Silver"), or the assumptions underlying any of the foregoing.  In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements.  Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved.  No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that NSX Silver or its shareholders will derive.  Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond NSX Silver's control.  These risks, uncertainties and assumptions include, but are not limited to, those described under "Risks and Uncertainties" in NSX Silver's Management Discussion and Analysis for the Year ended December 31, 2011, which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements.  NSX Silver does not intend, nor does NSX Silver undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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.

SOURCE: NSX Silver Inc.

Glenn A. Holmes
Chief Financial Officer, NSX Silver Inc.
[phone]
[email protected]