Great Panther Silver Grants Employee Stock Options

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/12/10 -- GREAT PANTHER SILVER LIMITED (TSX: GPR) (the 'Company') announces that the Company has granted incentive stock options to 33 employees of the Company and its wholly owned Mexican operating subsidiaries to purchase an aggregate of 670,000 common shares. The options are exercisable at $0.90 per share and have a term of 5 years, expiring on July 11, 2015. None of these employees are insiders of the Company. The options are granted pursuant to the Company's Amended and Restated Incentive Share Option Plan (2007).

For further information, please visit the Company's website at www.greatpanther.com.

ON BEHALF OF THE BOARD

Kaare G. Foy, Executive Chairman

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, 'forward-looking statements'). Such forward-looking statements may include but are not limited to the Company's plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Annual Report on Form 20-F for the year ended December 31, 2009 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Standard & Poor's Listed

SEC 20-F Statement Filed

Contacts:

B&D Capital

604 685 6465

604 899 4303 (FAX)
info@greatpanther.com
www.greatpanther.com