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October 28, 2010
Silver Spruce Reports on Results for REE analysis at the Pope's Hill Property and Results of Exploration on the Lobstick Property

Highlights
- Popes Hill - high grade values in TREEs plus Y with values to 24.07 % incl. 1.63 % HREE's
- REE mineralization associated with shearing, thorium rich areas and magnetite bearing units
- Area unexplored for REEs with strike potential of approximately 80 km
- Acquisition of a total of 1297 claims (324 km2) to protect the on-strike extensions of the favourable units

October 28, 2010 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce the results of first pass prospecting and geological mapping on the company's road accessible Pope's Hill (PH) rare earth element (REE) and the Lobstick (LS) uranium properties in Labrador. The PH property is 100% owned by Silver Spruce (News Release May 6, 2010), while the LS property is held under option.

Popes Hill (PH)
The original PH property consisted of 62 claims (1,550 ha) located in the Pope's Hill area, approximately 100 km from Goose Bay, along the paved portion of the Trans Labrador Highway (TLH), acquired by staking in May 2010. Uranium, thorium and REE mineralization was located by the President of Silver Spruce, Lloyd Hillier, in 2006 while prospecting for uranium. Values up to 7.9% total rare earth elements plus yttrium (TREE+Y) with HREEs up to 15% of the TREE and values up to 0.46% zirconium, and 0.22% niobium, were located, with three samples giving values > 1% including two (2) samples > 5% TREE+Y. The samples anomalous in REEs also showed elevated thorium values with the highest thorium and REE values coincident (News Release May 6, 2010). The rock units are granitic to mafic gneisses of late Paleoproterozoic age, with some pegmatites noted. A linear monzonite body lies just to the north.

Follow up prospecting and sampling using scintillometers to locate radioactive areas, especially Th rich zones, was completed by a four man SSE crew in mid September with a total of 39 rock samples sent for analysis. All of the samples collected gave anomalous REE and Th values with twenty two (22) giving values over 1% TREE+Y, including 16 > 5%, and 5 > 10% with a high value of 24% TREE+Y. Two of the highest values (> 10 %), were outcrop samples while the other three were from locally derived, angular float. Samples are mostly rich in light rare earth elements (LREE), but the more anomalous values give higher values in heavy rare earth elements (HREE) up to 7.5% percent of the REEs. The highest values were located in a sheared, dark grey to black, mafic intrusive / metamorphic unit which contains magnetite and pyrite (2-4%), and is magnetic and porphyroblastic. Values varied from a low of 0.07 % to a high of 24.07 % averaging 5.73 % TREE+Y for the 39 samples.

Individual high values for the elements, all in sample 941432, were: La -- 5 %, Ce -- 9.7 %, Pr -- 1.08 %, Nd - 3.85 %, Sm -- 0.70 %, Eu -- 213 ppm, Gd -- 0.56 %, Tb -- 828 ppm, Dy -- 0.47 %, Ho -- 875 ppm, Er -- 0.23 %, Tm -- 283 ppm, Yb -- 0.14 %, Lu -- 175 ppm, with a Y value of 2.11 % for TREE+Y of 24.07 %. In this sample LREEs were 20.34 % (92.6 % of the TREEs) and HREEs were 1.63 % (7.4 % of the TREEs) for a total 21.97 % REEs. Other significant values in this sample included: Nb -- 911 ppm, Zr -- 604 ppm, Th -- 0.63 % and U -- 461 ppm.

High values in the other elements associated with the more highly anomalous REEs were: U -- 261 ppm, Ta -- 90.6 ppm, Zr -- 2.33 %, and Nb -- 0.59 %. Discussion with Actlabs, who analyzed the samples, indicates that phosphorus values are high (> 0.3% P2O5) in 20 of the samples and given the capacity of this element to interfere with Nb and Ta analyses, these values should be considered mininium values. Ta and Nb are being re-analyzed to address this problem and provide more accurate values for the Nb and Ta. All of the REE bearing samples are sheared, are moderately radioactive with significant Th content and minor uranium values (< 100 ppm) and contain magnetite, some up to 50 % plus of the rock. No work has been carried out to characterize the minerals associated with the rare earth elements to date. A summary of the REE and associated values is available in the table below.

Grid work and a magnetometer survey, to trace the magnetic units which appear to carry the mineralization, is planned to evaluate the original property this fall or winter. Mineral identification studies will be used to characterize the minerals that host the rare earths.

A total of 1297 claims (324 km2) were acquired to protect the on-strike extensions of the mineralized zone which is believed to be associated with a regional shear zone in the gneisses which extends for in excess of 40 km to the northeast and 40 km to the southwest of the highway and the original showings. The property, with the original 62 claim, road accessible, property included, now totals 1359 claims (approx. 340 km2).

Lobstick (LS)
A four man field party was mobilized to the LS property in late September. Follow up was targeted at the easily accessible, coincident U radiometric and lake sediment anomalies, and the high La / Be lake sediment anomalies which were considered to be indicative of REE potential, in the southern part of the property. Outcrop exposure was poor with glacial till with extensive boulders mainly of granitic units. These boulder fields were weakly to moderately radioactive and were found in most areas of high radioactivity as shown on the airborne maps. A total of 85 rock samples were taken. No significant mineralization, either uranium or REEs was located in the course of the work. No further work is recommended and the option on the property will be terminated.

Compilation maps showing the property locations, plus a compilation map and pictures of the Pope's Hill area can be viewed on the company website www.silverspruceresources.com.

Analyses on the Pope's Hill rock samples in 2006 were carried out at the ACME Laboratories facility in Vancouver, BC after sample preparation at Eastern Analytical in Springdale, NL. They were analyzed by a REE package (Group 4B REE), which consists of a 0.2 g sample treated by a LiBO2 fusion followed by an ICPMS finish. All rock analyses are being carried out at the Activation Laboratories (Actlabs) facility in Ancaster, Ontario after sample preparation at their facility in Goose Bay. The analysis is by their Code 8 REE package which uses a lithium borate fusion and then analysis by either ICP or ICP-MS. Values were checked by Actlabs using internal standards.

ABOUT SILVER SPRUCE
Silver Spruce is a junior exploration company originally focused on uranium in the Central Mineral Belt (CMB) and elsewhere in Labrador, Canada. With interests in more than 7,500 claims totaling more than 1,750 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. The company also has gold/silver projects in Mexico and the island of Newfoundland, and rare earth element (REE) properties in Labrador, making Silver Spruce a leading explorer in Canada and Mexico.

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
HEAD OFFICE

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

INVESTOR RELATIONS
Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 243
Toll Free: 1.866.684.4743 ext. 243
E-mail: hugh@ascentacapital.com
Web: www.ascentacapital.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.





 
 

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