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News Article | May 15, 2017
Site: www.marketwired.com

BRIDGEWATER, NOVA SCOTIA--(Marketwired - May 15, 2017) - Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSX VENTURE:SSE)(FRANKFURT:S6Q) is pleased to announce the appointment of Greg Davison, MSc, PGeo to its Board of Directors. Mr. Davison is a professional consulting exploration geologist, project manager and ore mineralogist with thirty-nine years of practical field, commercial laboratory and management experience in diverse geological settings. Mr. Davison has expertise in ore geology, process mineralogy, property evaluation, bulk sampling and pilot process operations. He has contributed to the development of exploration properties, ore deposits and mines in Canada, United States, Mexico, Greenland, Russia, Central and South America, Africa, Middle East, Asia and Australia. Greg works with Teck Metals' research team on VMS Cu-Zn-Pb-Ag-Au (San Nicolás), porphyry Cu and Cu-Mo (Highland Valley, Quebrada Blanca), rift intrusion Ni-Cu-PGE (Mesaba) and stratabound Pb-Zn (Red Dog) deposits. As VP Exploration, he led Tribute Minerals' programs in Ontario, the first junior company to utilize Titan-24 geophysics to guide VMS targeting, successfully drilling the Garnet Lake Zn-Cu deposit. As a project geologist, he conducted exploration of Archean VMS targets in the English River metamorphic terrane. He has performed ore mineralogy studies on VMS deposits in Mexico, Bolivia, Alaska, Canada and Iran. Mr. Davison has completed independent 43-101 reports for VMS, intrusive-related gold, Dawson orogenic gold, Keno Hill Ag-Pb-Zn, epithermal gold and diamond kimberlite projects, and technical and assessment reports for junior to major public companies, SGS Lakefield Research and Watts Griffis McOuat, among others. Greg graduated with an MSc in Geological Sciences from Brock University and an Honours BSc in Geology from Dalhousie University, and is a professional geologist (P.Geo.) licensed with the Association of Professional Geoscientists of Ontario and the Association of Professional Engineers & Geoscientists of British Columbia. "Silver Spruce Resources is honored to have Greg join our Board. I have known him for many years and find his experience, judgement and ethics to be of the highest order. He will bring expertise in VMS deposits and project management to assist the Company's growth as we advance our Kay Mine VMS project in Arizona and our Pino de Plata epithermal silver project in Mexico," said President Karl Boltz - President & CEO. Silver Spruce Resources Inc. is a well-positioned Canadian junior exploration company pursuing development of the Kay Mine volcanogenic massive sulfide project in Arizona, USA, and 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.


News Article | July 13, 2017
Site: www.marketwired.com

BRIDGEWATER, NOVA SCOTIA--(Marketwired - July 13, 2017) - Silver Spruce Resources Inc. (TSX VENTURE:SSE)(FRANKFURT:S6Q) announces that it has closed its current non-brokered private placement and raised gross proceeds of $166,495.00 (the offering). The offering will consist of the issuance of 2,378,500 shares and 2,378,500 warrants Units at $0.07 cents were offered which consisted of one common share in the capital of Silver Spruce and one purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of Silver Spruce for 10 cents ($0.10) at any time prior to the date which is twenty four months (2 years) from a particular closing date at which time the warrants will expire. All units acquired pursuant to the private placement, and shares which may be acquired upon the exercise of the warrants, are subject to a four month hold period in accordance with applicable securities legislation. The gross proceeds will be used to meet operating obligations. There were no finder's fees paid. The Offering is subject to fulfillment of the requirements of the TSX Venture Exchange. 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.


BRIDGEWATER, NOVA SCOTIA--(Marketwired - July 19, 2017) - Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSX VENTURE:SSE)(FRANKFURT:S6Q) is pleased to announce it has closed the Purchase Agreement with Cedar Forest LLC (the "Vendor") for 100%, free of any royalty, of the Kay Mine parcel of 70.84 acres of patented claims near Black Canyon City, Arizona, USA. The original asking price for the 70.84 acre parcel of patented ground was U$977,000 in cash. Upon execution of the Purchase Agreement to acquire 100% interest in the patented claims, free of any royalties, Silver Spruce paid a non-refundable deposit of US $50,000 to the Vendor and completed its due diligence process which included a site visit, an appraisal of the fee simple surface land value, a fee simple surface title opinion, an extensive mining title search, an analysis of the mining rights held with the patented claims titles and a legal opinion of the mineral title rights, conducted by a prominent mining attorney in Arizona. Subsequently, the Company secured a U$450,000 debenture, and the Vendor agreed to accept shares in the Company in lieu of U$500,000 cash. The Company has received Exchange approval for the acquisition. The Company has now paid the remaining US $450,000 cash and issued 8,649,142 shares to the Vendor at a deemed price of CAD $0.075 per common share, which completed the terms of purchase, and closed escrow. "Silver Spruce is excited to complete our purchase of 100% of the Kay Mine parcel of patented ground, royalty free. The Company has successfully staked an additional 400 acres of unpatented claims and now controls all of the known areas of mineralization at the project that have been identified over the last 120+ years by companies such as the Kay Copper Company, Exxon Minerals, Rayrock (acquired by Glamis) and American Copper and Nickel (a subsidiary of INCO, now Vale)," stated Dr. Brian Penney, Chairman of Silver Spruce Resources Inc. "The Company looks forward to initiating its work programs at the Kay Mine project," said Karl J. Boltz, President & CEO. "We are eager to produce a maiden NI 43-101 on the project and to assimilate the available data into a GIS database, conduct modern geophysical studies, geologic mapping and geochemical sampling, the twinning of select Exxon drill holes and downhole geophysics, with the goal of qualifying the substantial historical resource stated in the Exxon Minerals' internal reports from the 1970's and 80's." The Kay Copper Company and others produced Au-Ag-Cu-Pb-Zn ore on the property intermittently from 1916 until 1956. Exploration conducted from 1972 to 1982 by Exxon Minerals Company, a subsidiary of Exxon Petroleum, indicates that substantial additional mineralization exists down dip and potentially along strike from the past-producing mineral deposits. A two-page Executive Summary of the Kay Mine Project is available here: http://www.silverspruceresources.com/s/KayMine.asp 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 that was developed in several thousand feet of workings on eleven levels. 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 plan maps and Exxon drill hole intercepts. Exxon also reported the deposits to be open down dip, with significant additional potential for the discovery of new deposits at the project. 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. 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. Silver Spruce Resources Inc. is a well-positioned Canadian junior exploration company pursuing exploration and development of the past producing Kay Mine volcanogenic massive sulfide ("VMS") project in Arizona, USA, and the exploration 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.


News Article | July 24, 2017
Site: www.prnewswire.com

Spruce has been nominated for the HFMInvestHedge Awards 13 times over the past 14 years, and has won three times.  "We are excited to once again be recognized by HFMInvestHedge," said John Bailey, Founder and Chief Executive Officer of Spruce. "We have invested in hedged strategies for over 16 years and are pleased with the role they have played in helping us generate competitive long term returns for our clients." Nominees were selected by HFMInvestHedge based upon risk- adjusted performance data through the end of April 2017. Final decisions are determined by performance through June 2017. Spruce Investment Advisors, LLC, is an award-winning wealth management firm based in Stamford, CT that serves as a Chief Investment Officer for family offices, foundations and endowments. Spruce advises on broadly diversified portfolios, including traditional investment portfolios of global equities, fixed income, high income, liquid absolute return, currencies and commodities, and alternative investment portfolios featuring hedge funds, private equity, real estate and oil & gas. Since 2001, Spruce has helped families and investors benefit from a broad and sophisticated array of global investment opportunities, aggressive risk management, and objective investment advice. For the HFMInvestHedge risk-adjusted performance related awards, funds of hedge funds must submit performance data to the HFMInvestHedge Database with no pro-forma data. For the one-year awards, the time frame will run from July 2016 to June 2017, while the five-year awards will run from July 2012 to June 2017. HFMInvestHedge will have the final say in which category a fund is nominated for. All funds need to have the most up-to-date performance in the HFMInvestHedge Database by July 31, 2017 or they will not be included in the nomination process for the HFMInvestHedge Awards for Performance Excellence. Nominations are primarily decided by those funds that achieve the strongest Sharpe ratios over the 12-month performance period under review, so long as they also beat the median returns in their relevant peer groups. The eventual winners will be the funds of hedge funds that achieve the best returns, as long as they also achieve Sharpe ratios within 25% of the best of the nominees. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any interest in any investment vehicle, and should not be relied on as such. Nor does this document, email or any attachment hereto disclose the risks or terms of an investment in any investment vehicle managed by Spruce or any of its affiliates. Solicitations can be made only with the applicable Fund's offering documents and only to qualified persons. For accredited investors with $10+ million only. Past performance is not indicative nor a guarantee of comparable future results. Spruce did not compensate HFMInvestHedge for these nominations. Additional information about the 2017 HFMInvestHedge Awards can be found here.


BRIDGEWATER, NOVA SCOTIA--(Marketwired - June 22, 2017) - Silver Spruce Resources Inc. (TSX VENTURE:SSE)(FRANKFURT:S6Q) ("Silver Spruce" or the "Company") is pleased to announce it has secured a loan for the remaining cash component of the Purchase Agreement with Cedar Forest LLC (the "Vendor") for the Kay Mine parcel of 70.84 acres of patented claims near Black Canyon City, Arizona, USA. The twelve-month, U$450,000 Loan was arranged by Leede Jones Gable Inc. and carries a twelve percent coupon rate. The Company will also pay 1,735,779 fully paid bonus shares to the lender and a commission of 500,000 shares to Leede Jones Gable Inc. "The provision of this loan will enable Silver Spruce to complete our purchase of 100% of the Kay Mine parcel of patented ground, royalty free. In combination with the 400 acres of unpatented claims filed by the Company, we will control all of the known areas of mineralization at the project that have been identified over the last 120+ years by companies such as the Kay Copper Company, Exxon Minerals, Rayrock (acquired by Glamis) and American Copper and Nickel (a subsidiary of INCO, now Vale)," stated Dr. Brian Penney, Chairman of Silver Spruce Resources Inc. The original asking price for the 70.84 acre parcel of patented ground was U$977,000. Upon execution of the Purchase Agreement to acquire 100% interest in the patented claims, free of any royalties, Silver Spruce paid a non-refundable deposit of US $50,000 to the Vendor. The Company will pay US $450,000 cash to the Vendor on closing, which is estimated to occur on or about June 28, 2017. In lieu of the second cash payment of U$477,000 and its associated Convertible Debenture, the Vendor has decided to accept the face amount in shares of the Company at a deemed price of CAD $0.075 per common share. Therefore, the Company will issue 8,649,142 shares to the Vendor at closing. This acquisition is subject to Exchange acceptance. The Kay Copper Company and others produced Au-Ag-Cu-Pb-Zn ore on the property intermittently from 1916 until 1956. Exploration conducted from 1972 to 1982 by Exxon Minerals Company, a subsidiary of Exxon Petroleum, indicates that substantial additional mineralization exists down dip and potentially along strike from the previously producing mineral deposits. A two-page Executive Summary of the Kay Mine Project is available here: http://www.silverspruceresources.com/s/KayMine.asp. 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. 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. 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.


Banks D.,Spruce Inc.
Journal of Wind Engineering and Industrial Aerodynamics | Year: 2013

Uplift wind loads on tilted flat PV panels mounted on the roofs of wide, rectangular, low-rise flat-roofed building were measured in an atmospheric boundary layer wind tunnel. The results indicate that for panels aligned with the building axes, the bubble separation that occurs for winds normal to a building face does not significantly increase these loads. Conversely, wind loads associated with the corner vortices are significantly higher than in the absence of the vortex. The direction of panel tilt relative to the vortex swirl, the position of the panel relative to the vortex reattachment, and the proximity of the panel to the vortex-originating corner together control the peak uplift. It is through changes to the vortices that the parapets affect wind loads. Vortex-related winds loads so dominate the uplift patterns on the roof that they need to be the primary consideration in any method designed to calculate these loads. This includes both experiments designed to study wind loads on this kind of PV racking system, and any calculation methods currently being codified in standards around the world. © 2013 Elsevier Ltd.


News Article | December 22, 2016
Site: www.businesswire.com

SAN FRANCISCO--(BUSINESS WIRE)--Spruce Finance™, a provider of consumer financing for residential solar and home efficiency improvements, has closed a $105.4MM round of debt financing with Investec and Silicon Valley Bank (SVB) as the lead arrangers. The syndicated loan is financed against a Spruce portfolio of residential solar systems. Spruce will use the proceeds to finance additional systems in states around the U.S. “This is a follow-on deal to the $120MM facility that Investec led for us last May,” said Darren Thompson, Chief Financial Officer at Spruce. “We’re pleased to be working with them again and with SVB on a second transaction that has allowed us to raise capital on attractive terms.” Michael Pantelogianis and Ralph Cho, co-heads of Investec’s North America Power & Infrastructure Finance Group, said, “As the residential solar financing markets evolve, the syndicated loan market has established itself as the ‘go-to’ market option for quality sponsors such as Spruce.” “We’re excited to provide this financing alongside Investec to Spruce as it aims to scale residential solar and home efficiency improvements,” said Bret Turner, Managing Director of the Energy and Resource Innovation Practice at Silicon Valley Bank. “Spruce is a longstanding client of SVB’s and we look forward to supporting its continued success.” “This deal demonstrates strong interest from the capital markets in both Spruce’s business and the industry in general, and we look forward to continued growth in 2017 and beyond,” said Thompson. Spruce Finance™ provides homeowners with multiple ways to finance residential solar systems and home efficiency improvements. This empowers people to improve their homes and communities and helps them reduce their utility bills. We make our finance products available on a single software platform and sell them through a national network of verified channel partners. Our platform simplifies the sales experience for our channel partners and helps them sustainably grow their businesses. A private company headquartered in San Francisco, we are a licensed lender in all 50 states and Washington, DC. We have raised more than $2B and currently serve more than 64,000 homeowners. To learn more about the company, visit www.sprucefinance.com.


News Article | December 1, 2016
Site: www.marketwired.com

BRIDGEWATER, NOVA SCOTIA--(Marketwired - Dec. 1, 2016) - Silver Spruce Resources Inc. (TSX VENTURE:SSE)(FRANKFURT:S6Q) ("Silver Spruce" or the "Company") is pleased to announce that it has signed a binding and exclusive Letter of Intent to purchase and explore a submittal prospect near Chinipas, in far western Chihuahua State, of over 300 hectares, where field crews sampled 8.42 grams per tonne (g/t) Gold (Au), 8.04 g/t Au and 3.95 g/t Au in chip channel samples from mineralized outcrop in late September. The Company will purchase the concession and will continue to investigate the potential of the surrounding ground for opportunities to stake additional ground that will be included in the "Encino De Oro" ("Golden Oak") project land position, if lying within 2 kilometres of the existing claim boundaries. The terms of the purchase agreement are as follows: A Deposit of 10,000 (U$500) pesos was made upon signing of the LOI Year One - U$5,000 payment, less the initial deposit, once the formal Mexico contract is finalized The owner will keep a 3% (three per cent) Gross Production Royalty (GPR) on the claim and any additional claim(s) staked by the Company within the two kilometre area of interest. The Company retains the right to purchase the GPR for U$1 million for each per cent. The Company agrees to maintain the claim in good standing until the purchase payments are completed. The Company also preserves the unilateral right to return the project to the owner, with no additional responsibilities, if the project does not continue to deliver positive results. "It is remarkable to find a property with high values of gold in outcrop, within short walking distance from a well travelled road, that has no workings or evidence of prior exploration activities," declared Mr. Leonard J. Karr, professional geologist and a third party Qualified Person for Silver Spruce. "The low cost of entry and the good gold grades in outcrop make this a very reasonable acquisition with considerable upside potential," stated Karl J. Boltz, President and CEO. "We can devote the majority of funding to exploration work and look forward to additional assays before Christmas and to mobilizing field crews in January." The geology consists of upper sequence rhyolitic tuffs that are deposited directly on Mesozoic limestones and calcareous shales. The lower sequence andesite appears to have been mostly removed by erosion and only thin remnants remain. An initial property examination in late September 2016 confirmed that an outcrop of strongly silicified rhyolite tuff contains gold grades ranging from 3.95 g/t to > 8 g/t in three samples over 3 m in width. Leonard Karr examined this outcrop on November 17, 2016 and based on strength of silicification, quartz veining and iron oxides after pyrite found the values credible. This immediately elevated the Company's confidence in the vendor's statements concerning other multigram gold assays in the area, and Silver Spruce immediately began a reconnaissance mapping and sampling program on the property. Eleven samples were taken in the first preliminary visit to the prospect in late September, and an additional 35 samples were taken during late November, with assays pending. The Municipality of Chinipas has a rich history in the processing of ores from the adjacent Palmarejo Municipality and mine area since the early 1800's. In the late 1800's, European engineers came to Chinipas to build and improve three mills that were devoted to the processing of ore mined at Palmarejo, just east of Chinipas. A narrow gauge railroad was constructed to haul the ore down from the Palmarejo mine to the Chinipas valley, where it was milled using hydraulic power to run the stamp mills. A twelve inch iron waterline paralleled the railroad to bring water down from the mine area under great pressure, and an aqueduct was built from Agua Caliente to Chinipas, over 30 kilometres, to bring additional water to the mills in Chinipas. The focus of mining activity in the Chinipas region has been primarily concentrated on the processing of ore, although some exploration and production from mines in the municipality has occurred. The region is has seen comparatively less modern exploration activities, as compared with other Mexico mining districts, although it is well mineralized. Silver Spruce recognized the potential of the region and has initiated a regional reconnaissance program to investigate the potential of numerous mineralized workings and submittals from local residents and miners. The Encino De Oro project is now the second project for the Company in the Chinipas region with the potential for a significant precious metals discovery. The Company is pleased to inform shareholders that it has formalized the Mexico purchase contract and executed a modified purchase contract on the Pino De Plata project whereby the owners have agreed that all property payments to the owners will be delayed until the Company can access the project to finish building the drill roads and pads, in preparation for drilling. The Company anticipates receiving these approvals in due course. Mr. Leonard J. Karr, professional geologist and a Qualified Person, under TSX guidelines, is the author of the Company's NI 43-101 report on the Pino de Plata project, dated 7 July 2015, and is responsible for the technical content of this press release. Silver Spruce Resources Inc. is a well-positioned Canadian junior exploration company pursuing development of the Pino De Plata epithermal silver/ base metal/ gold project located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico. The company has recently completed an exploration assessment on the property. Silver Spruce also retains a portfolio of uranium and rare earth element properties in Labrador. 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.


News Article | November 24, 2016
Site: www.marketwired.com

BRIDGEWATER, NOVA SCOTIA--(Marketwired - Nov. 24, 2016) - Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSX VENTURE:SSE)(FRANKFURT:S6Q) is pleased to announce that its Board of Directors has approved the appointment of Karl J. Boltz as President and Chief Executive Officer of the Company. Mr. Boltz has also been appointed by the Board to serve as a Director of Silver Spruce. "On behalf of fellow Board members, I congratulate Karl on his new leadership role as President and CEO and welcome him to the Board of Directors of Silver Spruce Resources Inc.," stated Chairman, Dr. Brian Penney. "I would also like to thank Mr. Stephan Jedynak for his leadership during the restructuring and turnaround process that has helped to position the Company to pursue opportunities that can enhance value for our shareholders." Mr. Boltz was the co-founding President, CEO and Director of EXMIN Resources Inc. (since merged with Sierra Metals). Fluent in Spanish, Mr. Boltz has worked for and with numerous public and private mining companies in Mexico, in various management capacities. He has over fifteen years leading and managing mining project activities with the most recent ten years concentrating on public company creation, project acquisition, funding, market development and administrative management. Mr. Boltz has provided services to the Company as the General Manager of Mexico Operations, since June 2015. Silver Spruce Resources Inc. is a well-positioned Canadian junior exploration company pursuing development of the Pino de Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of Western Chihuahua State in Mexico. The company has recently completed an exploration assessment on the property and is preparing for its maiden drill program. Silver Spruce also retains a portfolio of uranium and rare earth element properties in Labrador. 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.


BRIDGEWATER, NOVA SCOTIA--(Marketwired - Dec. 19, 2016) - Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSX VENTURE:SSE)(FRANKFURT:S6Q) is pleased to provide the latest results from its ongoing reconnaissance and sampling program at its recently acquired Encino De Oro project near Chinipas, Chihuahua, in Mexico. The field crew was led by Leonard J. Karr, CPG, and a third party Qualified Person for Silver Spruce. To date, a total of 42 chip channel and grab samples have been taken from outcrop, subcrop and float over an area of 3 square kilometres at the Encino De Oro project. Assays of these samples range from a less than detectable to as much as 8 grams per tonne ("g/t") gold (Au), and 77 g/t silver (Ag), with anomalous values of copper (Cu), lead (Pb), zinc (Zn), arsenic (As) and antimony (Sb). The Encino De Oro project contains vein, stockwork and disseminated hosted epithermal gold-silver targets within the upper and lower volcanic sequences. An initial property examination in October 2016 confirmed that an outcrop of strongly silicified rhyolite tuff contains gold grades of 8 g/t and greater than 5 g/t in two samples covering over 3 m in width. The Company's field reconnaissance team led by Leonard Karr examined this outcrop in November 2016. This reconnaissance showed mineralization and argillic alteration to be widespread, covering about 3 km2, and being open on all sides. About 90% of the exposed section consists of rhyolitic tuffs that are weakly to moderately argilllized and locally contain quartz stockwork. Rarely weakly to moderately silicified zones were encountered. Additionally, local anomalies in Ag, As, Cu, Pb, Zn, and Sb, together are suggestive of a large system that warrants additional work. Mr. Leonard J. Karr, professional geologist and a Qualified Person, under TSX guidelines, is the author of the Company's NI 43-101 report on the Pino de Plata project, dated 7 July 2015, and is responsible for the technical content of this press release. Silver Spruce Resources Inc. is a well-positioned Canadian junior exploration company pursuing 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. Silver Spruce also retains a portfolio of uranium and rare earth element properties in Labrador. 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.

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