|February 14, 2011|
Silver Spruce Renews Contract with Ascenta Capital Partners Inc. for Investor Relations Services
February 14, 2011 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce it has renewed its contract with Ascenta Capital Partners Inc., of Vancouver, British Columbia, for investor relations services.
Ascenta will receive a monthly retainer of $5,750 for a 6-month renewable term. Silver Spruce will also issue, as compensation to Ascenta, an option to purchase 200,000 common shares pursuant to the company's stock option plan. The options are exercisable at a price per share of $0.34 for a period of three years, expiring on February 11, 2014. The options are subject to regulatory approval and the execution of a stock option agreement
The company also announces that it has awarded 25,000 options exercisable at a price of $0.34 per share for a period of five years, expiring on February 11, 2016 to an employee of the Company.
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 4,000 claims totaling more than 1,000 square kilometers in Labrador, Silver Spruce is one of the largest landholders in one of the world's premier emerging uranium and rare earth element (REE) districts. The company has uranium and REE properties in Labrador - Pope's Hill, RWM and the Straits, and gold/silver projects on the island of Newfoundland.
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
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 Corporation seeks Safe Harbour.
You can view the Next News item: Thu Feb 17, 2011, Silver Spruce Options U/ REE property on the Pope's Hill Trend Trans Labrador Highway, Labrador
You can view the Previous News item: Tue Feb 8, 2011, Silver Spruce Provides Update on CMB Joint Venture Uranium Project Labrador, Canada
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