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El Tigre Silver Corp. Amends Interim Financial Statements

El Tigre Silver Corp. (TSX VENTURE:ELS)(PINK SHEETS:EGRTF)(FRANKFURT:5RT) (the "Company") announces that, as a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify its disclosure.

The Company has amended and re-filed its interim financial statements for the three month period ended March 31, 2011 (the "Amended Interim Statements") in order to clarify certain disclosure relating to the transition to International Financial Reporting Standards ("IFRS"). The Amended Interim Statements include the following amendments made to the originally filed interim statements:

--  In Statement 3 (Condensed Interim Consolidated Statement of Changes in
    Equity) a date was changed from "March 31, 2010" to "March 31, 2011" and
    a second date was changed from "March 31, 2010" to "May 31, 2010".

--  A reconciliation of shareholders' equity was added for the period ended
    May 31, 2010.

--  Explanations of changes to IFRS were added to provide further details on
    the adjustments.

--  Disclosure was added to the discussion of cumulative translation
    differences to acknowledge that the total adjustment was Nil.

--  In Note 10 the date "January 1, 2010" was amended to read "March 1,
    2010".

The Amended Interim Statements are available for review at www.sedar.com under the Company's profile.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.