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IMPACT Silver Corp. ("IMPACT" or the "Company") announces that it has elected to accelerate the expiry date of the warrants (the "Warrants") and the agent's warrants (the "Agent's Warrants") issued on December 14, 2010 as part of its private placement unit offering (the "Private Placement").

Pursuant to the terms of the Private Placement, in the event that the Company's common shares trade on the TSX Venture Exchange at a volume weighted average price of $2.50 or more for a period of at least ten consecutive trading days following the date of issuance, the Company is entitled to accelerate the expiry date of the Warrants to a date which at least thirty calendar days from the date notice of such acceleration is provided to holders of Warrants. The Company has elected to provide notice of such acceleration to the holders of Warrants.

Further, pursuant to the Private Placement, the Company issued to the agent, Fraser Mackenzie Limited (the "Agent"), the Agent's Warrants, each Agent's Warrant exercisable into a unit, consisting of one common share of the Company and one-half of one warrant (the "Underlying Agent's Warrant"). The Agent's Warrants and any Underlying Agent's Warrants issued are also subject to the above-noted acceleration and the Company has elected to provide notice of such acceleration to the Agent.

Effective today, the Warrants issued to the purchasers pursuant to the Private Placement, the Agent's Warrants issued to the Agent and any Underlying Agent's Warrants issued are set to expire at 4 p.m. (Vancouver time) on May 26, 2011. If all of the Warrants, Agent's Warrants and Underlying Agent's Warrants are exercised, the Company will receive additional proceeds of approximately $11,679,375 and a total of 6,832,500 additional common shares of the Company will be issued.

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 Company's 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

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.



The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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