Silver Spruce Secures Financing to Acquire 100% Interest in Past-Producing Kay Mine in Arizona, USA - Seite 2

Known mineralization occurs in two zones of massive sulfide, the North and South Zones, extending from the surface to at least 2100 feet in depth. Mineralization is open at depth. A November 1982 internal Exxon Minerals Company report by M. L. Fellows stated that the deposit contains a resource of "Proven and Probable ore" with a tonnage of 6.4 million short tons grading an estimated 2.2% copper, 3.03% zinc, 1.6 ounces per ton (50 g/t) silver and 0.082 ounces per ton (2.55 g/t) gold. The estimate was made using assay data from historic mine level plans and Exxon drill hole intercepts.

Exxon's use of the word "ore" is not to be construed in the strict sense. After examining mine assay level plans and Exxon drill hole data, Silver Spruce has concluded that "Indicated Mineral Resource" is the appropriate term for Exxon's historical estimate. Additional drilling is needed to verify this estimate. The Qualified Person for Silver Spruce has not conducted sufficient work to definitively classify Exxon's resource estimate to be compliant with NI-43-101 resource definitions. The issuer is not treating the historical estimate as current mineral resources or mineral reserves. Exxon also reported the deposits to be open down dip, with significant additional potential for the discovery of new deposits.

Qualified Person

Mr. Leonard J. Karr, professional geologist and the Company's independent Qualified Person is responsible for the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a well-positioned Canadian junior exploration company pursuing acquisition and development of the past producing Kay Mine volcanogenic massive sulfide ("VMS") project in Arizona, USA, and the development of the Pino De Plata and the Encino De Oro epithermal silver/ base metal/ gold projects located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.

Silver Spruce Resources Inc.
Karl Boltz
President & CEO, Director
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www.silverspruceresources.com