|September 21, 2006|
SILVER SPRUCE RESOURCES INC. - COMPLETION OF AIRBORNE SURVEYS START OF GROUND FOLLOW UP -- LABRADOR URANIUM
September 21, 2006 - Silver Spruce Resources (TSXV - SSE) is pleased to announce that Fugro Airborne Surveys has completed the airborne radiometric / magnetic surveys on the 100 % SSE owned Double Mer, Mount Benedict and Straits properties in Labrador.
Total line kilometers, at 100 m line spacing, were 2113 for Double Mer, 3012 for Mount Benedict and 2251 for the Straits for a total of 7375 line km. Ground follow up will take place, weather permitting, once the preliminary data has been received by Fugro and anomaly prioritization has been completed by consultant Ted Urquhart of Geoexplo in Santiago, Chile.
The properties were acquired to cover anomalous lake sediment values from government surveys. In the 800 claim Straits property, anomalous lake sediment values from 10 to 239 ppm Uranium, with coincident anomalous Cu values to 75 ppm (background < 20 ppm) were noted in GSC OF 2790. In the 1024 claim Mount Benedict area, anomalous lake bottom values range from 10 to 87 ppm uranium. Brinex and Joint Venture partners carried out limited exploration in the 1960's and 70's with a widely spaced radiometric survey and some ground follow up. Brinex radiometric anomaly B-22 which gave values from 200 to 400 ppm uranium, is described as a strongly sheared, hematite altered, agglomeritic felsic volcanic. The Double Mer property covers strong uranium in lake sediment anomalies ranging from 10 to 470 ppm against a background of approximately 5 ppm (Open File 408) and hosted in leucogranites of Helikian age. Four values > 100 ppm uranium, with two over 400 ppm, are noted. Background for the lake bottom samples is 5 ppm uranium. 1978 follow up work by the Newfoundland and Labrador government, which included a widely spaced radiometric survey and limited ground follow up, located uranium mineralization in float/outcrop with three values over 0.1 % U3O8, including a value of 0.29 % U3O8, from eight samples (OF 408). None of the values quoted have been independently verified.
Preliminary data for the Double Mer project has been received (see www.silverspruceresources.com) and ground follow up has begun utilizing a helicopter supported, 4 to 5 man crew, based in Happy Valley -- Goose Bay. Results of the follow up work will be reported as it is received.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, who is a Qualified Person (QP) as defined in National Instrument 43-101.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior mining exploration company primarily focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada. With over 5,000 claims totalling more than 1,250 square kilometres, Silver Spruce is the second largest land holder in one of the world's premier emerging uranium districts. In the 12 months commencing summer 2006, Silver Spruce is planning a large scale exploration program on its CMB and area properties at a cost of more than $2 million. With experienced development partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in central Labrador.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, who is the Qualified Person (QP) as defined in National Instrument 43-101.
On behalf of the Board of Directors, Gordon Barnhill, CFO and Director.
FOR FURTHER INFORMATION, CONTACT:
Gordon Barnhill, CFO & Director
Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 231
Toll Free: 1.866.684.4743 ext. 231
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release. The company seeks safe harbour.
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