Caracara Silver Inc. Begins Drilling on Peruvian Projects

Caracara Silver Inc. (TSX VENTURE:CSV) (the "Company") is pleased to announce
that drilling has started on the Company's Princesa silver-lead-zinc project in
Peru. This program is being managed in joint venture with SMC Solex del Peru
S.A.C ("SMC") (1), a private Peruvian mining company based in Lima, under the
terms of an option agreement which was signed last month. 


Exploration Program Highlights 

Princesa Program 

A 3,000 metre drill program is under way at the 100%-owned Princesa project
located 850 kilometres south east of Lima in Puno Province. Princesa hosts a
43-101 compliant resource estimate totalling 4.6 million tonnes in the inferred
category, grading 90.88 grams silver per tonne and 1.69% zinc and 1.61% lead.
The Princesa NI 43-101 Technical Report can be found on the Company's website
www.caracarasilver.com and on www.sedar.com 


The drill program is designed to test for strike and depth extensions to known
mineralization and in fill between holes completed in previous drill campaigns
with the objective of improving resource categories from inferred to indicated.
The drill program will also test new targets defined by IP anomalies and splays
off of the main Princesa mineralized structure.


Silver-lead-zinc mineralization is hosted in a steeply dipping structure
striking on surface for more than 1.6 kilometres metres and which has been drill
tested to a depth of 150 metres. 


Parcuyo Program

A surface mapping, sampling and trenching program is scheduled to begin in July
at the Parcuyo project, located approximately 28 kilometres northwest of the
Princesa project. 


Parcuyo is an early stage silver-lead-zinc prospect that will be tested by a
1,000-metre drill program later this year. The target at Parcuyo has been
defined by surface mapping and sampling over a 200-metre by 100-metre area. 


Mineralization is hosted by diatreme clastic breccias and includes high grading
grab samples such as 28% zinc and 18.8% lead and 16% zinc and 12.6% lead.
Parcuyo has never been drill tested.


Pilunani Program

Environmental permitting is under way for a drill program on the Pilunani
project located 20 kilometres southeast of the Princesa project. Pilunani is a
high priority target with potential for hosting near surface zinc-lead
mineralization.


Drill operating permits and community agreements are expected to be received
sometime in the fourth quarter of this year with a 3,000-metre drill program
scheduled to begin in early 2014. 


Drilling completed by another company in 2006 and 2007 intersected widespread
zinc and lead mineralization associated with a stratabound manto-type deposit
hosted in Permian limestones and sediments including polymictic breccias. 


Some of the more encouraging intersections which require follow up investigation
include:




--  Hole PIL-1 - 20.2 metres grading 6.54% zinc and 5.14 % lead. (1) 
    
--  Hole PIL-6 - 17.1 metres grading 5.18% zinc and 1.63% lead 
    
--  Hole PIL-9 - 18.75 metres grading 5.71% zinc and 1.11% lead 
    
--  Hole PIL-10 - 9.55 metres grading 6.8% zinc and 15.44% lead 
    

(1)  Intervals represent the down hole core intersection and, until more    
     data is available on the geometry of the mineralized zone, are not     
     considered true widths.                                                



A complete list of historic drill results with corresponding cross sections and
plan maps from the Pilunani project is included in a NI 43-101 technical report
available on Caracara's website at www.caracarasilver.com and on www.sedar.com


Exploration Option Agreement

The TSX Venture Exchange has issued its final approval for the option agreement
signed with SMC last month. Under the terms of the agreement, SMC will have the
right to earn a 65% interest in all of Caracara's concessions in Peru by making
exploration expenditures totalling US$12.5 million over a four-year period. SMC
can earn an additional 5% interest by funding all of the costs of a
prefeasibility study. SMC must also make cash payments to Caracara's
wholly-owned affiliate company in Peru, totalling $1.85 million plus VAT taxes.
Caracara has received the first $250,000 payment owing. (Please see Caracara
press release dated May 3, 2013 at www.caracarasilver.com)




(1)  SMC Solex del Peru S.A.C was formerly called Inversiones Collodi S.A.C,
     which is the signatory to the option agreement with Caracara's Silver's
     Peruvian subsidiary.                                                   



Qualified Person

Mr. Alain Vachon, P.Geo, Caracara Silver's Vice President Exploration and the
Company's Qualified Person as defined by National Instrument 43-101, has
reviewed and approved the contents of this press release.


About the Company 

Caracara Silver Inc. is focused on acquiring, exploring and developing silver,
zinc and lead resources to meet the world's growing demand. The Company holds 43
concessions totalling 29,099 hectares in Southern Peru. 


Caracara has 50,821,167 shares issued and outstanding and trades on the TSX
Venture Exchange under symbol: CSV.


This news release may contain forward-looking statements that are based on
Caracara Silver Inc.'s expectations, estimates and projections regarding its
business and the economic environment in which it operates. These statements are
not guarantees of future performance and involve risks and uncertainties that
are difficult to control or predict. Therefore, actual outcomes and results may
differ materially from those expressed in these forward-looking statements and
readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and Caracara Silver Inc. undertakes
no obligation to update them publicly to reflect new information or the
occurrence of future events or circumstances, unless otherwise required to do so
by law.


Neither the 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 and has in no way
passed upon the merits of the qualifying transaction and has neither approved
nor disapproved of the contents of this press release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Nick Tintor
President and CEO
Caracara Silver Inc.
Office: 416-987-0855
ntintor@rgmi.ca


Leslie Haddow
Corporate Secretary
Caracara Silver Inc.
Office: 416-637-3523
lhaddow@rgmi.ca
www.caracarasilver.com
Caracara Silver Inc. (TSXV:CSV)
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