StraightUp Resources Inc. Secures Right of Exclusivity with Premier Silver Corp. - Seite 2

“I look forward to continuing our discussions with StraightUp in progressing due diligence and potential corporate transactions.”

The Mallay mine is located just four to five hours’ drive north of Lima, 50 minutes from the town of Churin and 3 kilometers from the community of Mallay. The 10,562.4-hectare Tres Cerros Au-Ag Project, Mallay Mine and processing plant are 100% owned by Premier Silver Corp. and are currently in care and maintenance mode. Premier Silver intends to conduct a thorough review of the resource base and existing mine development with a plan to bring the historical resources and reserves into current estimate status under National Instrument 43-101 and create a new mine plan that will incorporate bulk tonnage underground mining methods. This will, in turn, lead to lower mining costs and potentially greater output.

The Mallay plant is an important asset of the Mallay Property, since Premier plans to provide processing services to other mining operations in the region. The plant was constructed in 2010-2011 for a reported cost of US$128 million.

Right to Exclusivity Agreement (“ROE”)

The Company has entered an ROE, securing 60 days of exclusivity over Premier Silver and its underlying assets. The purpose of this period shall be to complete further due diligence on the project(s) and the company and to negotiate the terms of a definitive purchase agreement with Premier Silver.

StraightUp’s board of directors provides no assurance that the ROE will result in a corporate transaction with Premier Silver Corp.

StraightUp’s president and CEO, Mr. Mark Brezer, said, “Premier Silver is a turnkey operation while providing an opportunity for further exploration. StraightUp has again positioned itself among major mining companies and their projects. Taking a stake in a country that contains more silver resources than any other country and is ranked second in the world for production gives us a shot at tremendous upside potential, especially if we see a strong decade ahead for metals. We are optimistic our companies can synchronize to mutually benefit one another and shareholders alike.”

About StraightUp Resources

StraightUp is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada and the U.S. Its objective is to locate and develop economic, precious and base metal properties of merit. StraightUp intends to conduct exploration on the RLX North, RLX South, Belanger and Ferdinand Gold Project, all located in the Red Lake Mining Division, as well as the recently acquired Bear Head Gold Project, located within the Meen-Dempster Greenstone Belt of the Uchi Subprovince, approximately 80 kilometers west of the Pickle Lake Gold Camp. The Company’s recently acquired West Cat Mine includes an unpatented mining claim on federal land, located in the historic Beatty Mountain Nevada Mining District/Nye County, Nevada, about 15 kilometers east of U.S. Route 95, approximately 20 kilometers from Beatty, Nevada, at the base of the Bare Mountain Range.