Silver Institute Elects New Leadership

(Washington, D.C. – June 22, 2011) – Geoff Burns, President and CEO of Pan American Silver Corp. (PAAS: NASDAQ) has been elected President of the Silver Institute by its membership. Mr. Burns has been the President and CEO of Vancouver-based Pan American Silver since 2004. He succeeds Roque Benavides, President and CEO of Cia. de Minas Buenaventura S.A.A. (BVN: NYSE), whose two-year term as the Silver Institute’s President ended on June 17.

Fernando Alanis, CEO of Industrias Peñoles, S.A.B. de C.V. (PE&OLES: MX), headquartered in Mexico City, was elected Vice President. In addition, Tom Angelos and Ken Koski, both of Coeur d’Alene Mines Corporation (CDE: NYSE) in Idaho, were elected as the Institute’s Treasurer and Assistant Treasurer, respectively.

“The Silver Institute is truly an international association which is evidenced by our diverse global membership, and by the numerous programs we undertake around the world. For example: our Silver Promotion Service (SPS) focuses on increasing demand and raising awareness for silver jewelry. The SPS, along with our ongoing initiatives in China are helping to increase demand for silver. I look forward to serving the Institute working with the membership to expand our current work programs into other key areas of the silver market,” Burns stated.

"Both Geoff and Fernando are tremendous assets to the Silver Institute, and we look forward to their leadership," said Michael DiRienzo, Executive Director of the Silver Institute. “We want to especially thank Roque Benavides for the exceptional job he did in leading the Institute for the past two years, and we are grateful that he will continue to serve on the Institute’s Executive Committee,” Mr. DiRienzo concluded.

The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute serves as the industry’s voice in increasing public understanding of the value and many uses of silver. Its members include leading silver producers, refiners, manufacturers and dealers. For more information about the Silver Institute visit www.silverinstitute.org.

For Further Information Contact:
Michael DiRienzo
The Silver Institute
888 16th Street, N.W., Suite 303
Washington, D.C. 20006

Tel: (202) 835-0185
Fax: (202) 835-0155