|March 13, 2006|
Silver Spruce Resources Retains Ascenta Capital Partners Inc.
Silver Spruce Resources (TSXV: SSE) is pleased to announce that it has retained Ascenta Capital Partners Inc. of Vancouver, BC to provide investor relations and financial communication services.
Ascenta will receive a monthly retainer of $5,000 for a 12-month term subject to termination by either party with 30 days written notice. Silver Spruce will also issue as compensation to Ascenta an option, subject to shareholder approval, to purchase 200,000 common shares at an exercise price of $0.56 per shareand be effective for a period of 30 days after the expiration of the contract. The options granted will vest in accordance with TSX Venture Exchange guidelines and Silver Spruce's stock option plan. This agreement is subject to regulatory approval.
Raising awareness within the investor and financial community is an important aspect of Silver Spruce's business strategy. "With our extensive land holdings in the Central Mineral Belt of Labrador and significant exploration programs planned for 2006, we believe it is the right time to invest in more effectively communicating our story to the investment community," stated Lloyd Hillier, President and CEO.
Ascenta is a full and comprehensive provider of corporate finance and investor relations services. Ascenta will assist the company in fostering productive, continuing dialogues with analysts, brokers, investors and other financial professionals.
On behalf of the Board of Directors, Gordon Barnhill, CFO and Director.
Telephone: (902) 527-5700, Fax: (902) 527-5711.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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