Great Panther Silver Updates Mineral Resource Estimate at the Coricancha Mine, Peru

VANCOUVER, Dec. 20, 2017

VANCOUVER, Dec. 20, 2017 /PRNewswire/ - GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE American: GPL) ("Great Panther"; the "Company") announces that it has completed an updated Mineral Resource Estimate in accordance with National Instrument 43-101 for the Company's 100% owned Coricancha Mine located approximately 90 kilometres east of Lima, Peru.  This estimate was prepared by Ronald Turner, P.Geo., of Golder Associates S.A., the Qualified Person.

"This resource update confirms the potential in the Coricancha Mine area and allows the Company to initiate additional engineering studies required to support a positive production decision", stated James Bannantine, President & CEO.  "We are all very excited about the prospects for the Coricancha Mine and look forward to taking the next step in Great Panther's growth strategy by adding a base of operations in Peru."

The Measured and Indicated tonnes and grades in this Mineral Resource Estimate compare well with those from the Historical Resource Estimate of 2012, providing a high degree of confidence in the results (see below).  The tonnes in the Inferred category are now lower due to the different search parameters used but it may be possible to replace these tonnages with additional drilling.

Great Panther is completing optimization studies and is evaluating alternative mining methods to reduce costs and project risk.  The Company plans to release additional technical studies for the project in the second quarter of 2018.

Updated 2017 Mineral Resource Estimate for the Coricancha Mine, Peru