Silver Spruce and Partner Colibri Resource Announce Receipt of SEMARNAT Environmental Permit, Land Access Agreements and Mobilization for 2024 Core Drilling Program at Diamante Au-Ag Project, Sonora, Mexico

BEDFORD, NS / ACCESSWIRE / April 10, 2024 / Silver Spruce Resources Inc. (TSXV:SSE) ("Silver Spruce" or the "Company") along with our partner Colibri Resource Corp. ("Colibri" and together with Silver Spruce, the "Companies"), jointly announce the approval of its Informe Preventivo (see Colibri press release January 9, 2024) by the Mexican government environmental authority, SEMARNAT, via Minera BIMCOL, SA de CV, ("BIMCOL" or the "Vendor") for our second drilling program at the Diamante project ("Diamante or the "Property").

GM Consultoría y Proyectos de Ingeniería Ambiental, S.A. de C.V., ("GMCA") of Hermosillo, Sonora was contracted to manage the environmental permitting process. The 12-month permit covers seventeen (17) drill sites as shown in Figure 1.

"With our environmental permits for drilling and our land access agreements now in hand, and with the recent geological target mapping, surface geophysics and geochemistry program at Diamante completed, the Companies are advancing rapidly toward an April 2024 core drilling program," stated Greg Davison, Silver Spruce Vice-President Exploration and Director. "We are pleased with the high quality of the report preparation for SEMARNAT by GMCA culminating in excellent turnaround received from the environmental authorities."

"Heavy equipment was contracted and mobilized for the setup operations under the direction of Colibri's senior geologist. We expect to have the pad preparation completed ahead of the drill team arrival on site," said Mr. Davison. "The drilling is planned to test priority target areas and to build on positive results from the 2022 and 2023 exploration programs. Colibri will manage the planned 1,000 metre diamond drilling program from a select group of the permitted drill targets. Final drill collar location maps and planned orientations will follow with the announcement of drill mobilization shortly."

The Companies also announce that a drilling contract was signed with Diamond Drills Mexico S.A. de C.V. based in Hermosillo, Sonora, Mexico and local heavy equipment was contracted and mobilized for trail and drill pad preparation (Figures 2 and 3). In addition, agreements were signed with several ranches on the claims enabling land access to selected drill targets.

The drill-ready 1,057-ha Diamante gold-silver (Au-Ag) property is located 8 km northwest of the town of Tepoca, and 160 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico (Figure 1). Diamante offers strong precious metal tenor with a polymetallic endowment, multiple quality targets, styles of mineralization, limited artisanal mining and small-scale production, of particular significance for our exploration moving forward, no records of drilling prior to the Companies' recent program.