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August 24, 2007
Silver Spruce Announces No Exposure to Coventree Inc.

Aug. 24, 2007 - Bridgewater, N.S. - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to report that Silver Spruce's investments are not exposed to any financial instruments involving the US residential property market, mortgages or to Coventree Inc. Silver Spruce has in excess of $3,500,000 in its treasury which is invested in an interest bearing account earning in excess of 4.2% per annum.

Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company primarily focused on uranium in the Central Mineral Belt (CMB) and other areas of potential in Labrador, Canada. With interests in over 12,500 claims totaling approximately 3,100 square kilometres, Silver Spruce is one of the largest landholders in one of the world's premier emerging uranium districts. The large ground position, experienced partners, and strong financial backing make Silver Spruce a leading uranium explorer.

On behalf of the Board of Directors, Gordon Barnhill, CFO and Director.

For Further Information Contact:


Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com

Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 231
Toll Free: 1.866.684.4743 ext. 231
E-mail: keir@ascentacapital.com
Web: www.ascentacapital.com

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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