Silver Spruce Stakes Additional Contiguous Claims, Doubles Holdings To 148 Sq Km at Mystery Au Project, Newfoundland and Labrador

BEDFORD, NS / ACCESSWIRE / February 8, 2023 / Silver Spruce Resources, Inc. ("Silver Spruce" or the "Company") (TSXV:SSE)(FRA:S6Q1) is pleased to announce the acquisition by staking of 6,040 hectares ("ha") of claims contiguous to the Marilyn and Till properties of the Mystery Au project ("Mystery") (Figures 1 and 2). The new properties cover a total of 242 claims in three property blocks.

"We are very excited to acquire a significant package of additional claims tied to both the Marilyn and Till properties which effectively doubles our overall property coverage to 148 square kilometres (14,790 ha). These new claims follow to the south along the principal metasedimentary structural trend and geological contacts on the west margin of the Mount Peyton intrusive complex. In addition, the new claims occur adjacent to several gold grain and geochemical anomalies reported from the 2022 and 2022 Phase 1 programs," said Greg Davison, Silver Spruce Vice-President Exploration and Director. "The new claims fall within the Area of Interest of the current Definitive Agreement."

"We look forward to the next steps comprising program design for detailed infill soil and till sampling around the anomalous sampling sites to advance the known target sites and contracting the detailed interpretation of the 2021/2022 MPX Geophysics MAG/VLF/RAD survey. The latter contract will be awarded by mid-February," stated Mr. Davison. "Prospecting, mapping and further regional sampling are proposed to complement Phase 2 field work with a view to drill target generation in Q3 2023."

The widely-spaced gold grain in till sampling results identified anomalous sites with >20 gold grains on each of the three original Properties, Marilyn, Till East and Mystery Lake. Three sites containing anomalous gold grains (Figures 3 and 4) occurred primarily within the Botwood Group metasediments and another within the marginal phases of the intrusion.

A total of twenty-two (22) sites contained elevated calculated ppb Visible Gold and pristine gold particle morphologies (12 samples). Modified gold grains were reported from twenty-five (25) sampling sites including eight (8) accompanied by pristine grains distributed across the Properties. Soil geochemistry also showed Arsenic anomalies in Marilyn transecting from north to south, proximal to the gold grain trend occurring on a southwesterly linear parallel to regional geological and magnetic structure (Figures 5 and 6). Mystery Lake also showed a cluster with elevated Arsenic and Antimony adjacent to the highest Au grain data.