Canadian Silver Hunter Announces $600,000 Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - Oct. 13, 2011) - Canadian Silver Hunter Inc. ("CSH") (TSX VENTURE:AGH) is pleased to announce that it intends to complete a non-brokered private placement financing of up to 1,714,285 flow-through units (the "Units") at a price of $0.35 per Unit for gross proceeds of up to $600,000 (the "Offering").

Each Unit will consist of one common share in the capital stock of CSH ("Common Share") issued on a flow-through basis and one-half (1/2) of one Common Share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to acquire one Common Share for $0.50 for a period of 24 months from the date of issuance. CSH will have the option to accelerate the expiry date of the Warrants should the closing price of the Common Shares on the TSX Venture Exchange ("TSX-V"), or such other exchange as the Common Shares may then trade, exceed $0.60 for 20 consecutive trading days following the date that is four months and one day after the date of issuance of the Warrants. CSH may accelerate the term of the Warrants to the date which is 30 days following the date a press release is issued by CSH announcing the reduced term of the Warrants.

In connection with the Offering, an 8% finder's fee will be paid in cash to eligible finders in addition to the issuance of finder's warrants ("Finder's Warrants") equal to 8% of the number of Units placed by eligible finders pursuant to the Offering. Each Finder's Warrant will entitle the holder to acquire one Common Share and one-half (1/2) of one Warrant for $0.35 for a period of 24 months after the date of issuance.

The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period. The Offering is also subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX-V and applicable securities regulatory authorities. CSH intends to close the Offering on or around October 21, 2011.

CSH intends to use the net proceeds from the Offering to fund continued exploration on its Keeley Frontier silver project.

About Canadian Silver Hunter

CSH is a junior mineral exploration company focused primarily on the identification, evaluation, acquisition and exploration of mineral properties. CSH holds a 100% interest in the prolific past producing Keeley Frontier project, located in the South Lorrain Township, Larder lake Mining Division, Ontario. CSH's current focus is on the exploration of the Keeley Frontier project for silver, cobalt and nickel deposits.

CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, CSH's objectives, goals, future plans, exploration activity on its Keeley Frontier silver project and its ability to complete the Offering on the terms described in this news release or at all. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in CSH's public documents filed on SEDAR. Although CSH believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. CSH disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.