Silver Spruce Resources Inc. - Jacques Lake

The Jacques Lake property, part of the CMB JV, was acquired by staking in the spring of 2006. The property which consists of 528 claims in seven licences and lies in the central part of the CMB on Labrador Inuit (LIL) Lands, 15 to 25 kilometers to the south of Postville.

An airborne radiometric/magnetic survey was flown over Jacques Lake by Fugro Airborne Surveys in the summer of 2006. Four high priority targets were selected and limited follow up prospecting was carried out the following fall, with no significant values or mineralization located.

A detailed lake bottom survey, utilizing helicopter support and augering through the ice to acquire the samples from the lake bottoms was carried out in the late winter/early spring of 2007. Most accessible lakes were sampled and values ranged from high background (30 ppm or less) to 217 ppm. Two anomalous areas were defined: 1) to the north of Jacques Lake in the central/northeast portion of the property with values ranging from 14 to 217 ppm and 17 values greater than 50 ppm; and 2) in the northwest corner of the property with values from 27 to 217 ppm and 2 values greater than 100 ppm. No follow up has been carried out.

Plans for 2008 include: RadonEx or other soil gas surveys, soil geochemistry, prospecting and geological mapping followed by trenching and / or drilling if warranted.