|March 27, 2008|
Drilling Begins on Mount Benedict Property, East End of Labrador's CMB
- Diamond drilling starts on Mount Benedict Property - T-649 and Super 7 showings
March 27, 2008 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce that diamond drilling has begun on the T-649 and Super 7 showings on the Mount Benedict Property, located in the eastern part of the Central Mineral Belt (CMB) of Labrador.
The T-649 and Super 7 showings, located in the summer of 2007 during prospecting follow up of airborne surveys, are high-grade uranium prospects. At the T-649, five grab samples taken across a 12 to 14 meter wide outcrop of hematite breccia averaged 0.5% (10 lbs/ton) U308 and boulders with values over 3.0% (60 lbs/ton) U308 were located downstream of the showing. Values varying from a few hundred ppm to 1.0% (20 lbs/ton) U308 were located at the Super 7 prospect in limited sampling.
The permit for the pre-drilling magnetometer surveys and diamond drilling on the T-649 and Super 7 showings and the summer work program on the property was received on February 22, 2008. As required under the permit, a public information session was held in Makkovik on February 29. A fully winterized camp had previously been established on a small lake approximately 50 kilometers to the south of Makkovik on Labrador Inuit Settlement Area (LISA) lands. The helicopter supported drilling is being monitored by an Inuit environmental monitor, as required under the permit.
Results for the 2007 prospecting surveys and maps showing the planned drilling on the Mount Benedict Property are on the company's website (www.silverspruceresources.com). Results of the exploration will be reported as received.
ABOUT THE MOUNT BENEDICT PROPERTY
The Mount Benedict Property is a large contiguous block of 4,057 claims (1,014 square kilometers), located 30 to 70 kilometers southeast of Makkovik. The property covers, in part (10% to 15%), Labrador Inuit Lands (LIL), which are controlled by the Nunatsiavut government. The remaining 85% of the property in on Labrador Inuit Settlement Area (LISA) lands, which are jointly controlled by the Nunatsiavut and Newfoundland governments. The Mount Benedict claims are 100% owned by Silver Spruce, subject to a 1.0% NSR on production from 532 of the original 1,024 claims.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company primarily focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada. With interests in 11,882 claims totaling approximately 2,970 square kilometers in Labrador -- 60% of them 100%-owned -- Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. A large property position and strong financial backing make Silver Spruce a leading uranium explorer in Newfoundland, and Labrador and in Canada.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
For Further Information Contact:
SILVER SPRUCE RESOURCES
Gordon Barnhill, CFO & Director
Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 243
Toll Free: 1.866.684.4743 ext. 243
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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