|March 21, 2016|
Silver Spruce Resources Reports Board of Director Changes
March 21, 2016 - Bridgewater, NS - (TSXV: SSE) - Silver Spruce Resources ("Silver Spruce" or the "Company") announces that William A MacPherson BSc P. Eng (Ret'd) of Halifax, Nova Scotia has resigned as Chairman and Director of the Company. Mr. MacPherson helped steer the Company in challenging market conditions and the Company thanks Mr. MacPherson for his dedicated service. Mr. MacPherson has agreed to be available as an advisor and consultant.
Silver Spruce is pleased to announce that the Board has appointed Dr. Brian K Penney as its new Chairman. Dr. Penney currently serves as a Director and as Chairman of the Audit Committee of the company.
Dr. Penney has held numerous board positions in private and public companies and has extensive experience guiding early-stage companies, both as CEO and Chairman, in several different industries including telecommunications, semiconductors, software, training and insurance. He has been chairman and seed stage investor of several companies that have collectively created over a billion dollars of shareholder value. Dr. Penney has also served as a member of several government and academic advisory boards including the Government of Canada's Communications Research Centre, CANARIE and several centres of excellence. He held various research and academic positions in physics and in computing science and worked as a software engineer, system architect and development manager at Bell Northern Research and other companies in the telecommunications industry. Brian holds a Ph.D. in high energy nuclear physics from Imperial College of Science & Technology, University of London, and is licensed as a professional engineer and commercial pilot.
Silver Spruce is also pleased to announce the appointment of Mr. Brad Donovan, B.Comm, MBA, as a Director of the Company. Mr. Donovan is a native of Nova Scotia, Canada and is currently resident in Guadalajara, Mexico where, after a decade of residence he is fully fluent in Spanish as well as English and French and is fully comfortable in and knowledgeable about the culture and business and government processes of Mexico. Mr. Donovan has gained extensive business experience working in Canada, Sweden, Egypt, Tunisia, and as well in the Canadian Embassy in Washington D.C. Mr. Donovan is the President and CEO of the Nova Monarca Group and the President and CEO of Spirits Trading International, based in Guadalajara, Mexico. Mr. Donovan was also appointed Consul (H) of Iceland in Mexico. Mr. Donovan serves as Director of for Viking Laws Inc. (Oil and Gas Trading), Director of Doze Group International, Director of Gold Jet Executive and Medical Aircraft, Director of the Icelandic Institute of Mexico, and Director of Rapid Response Institute of Mexico (Asset and Risk Management).
Silver Spruce congratulates Dr. Penney on his appointment as Chair of the Board and welcomes Mr. Donovan as Director.
About Silver Spruce Resources Inc.
Silver Spruce is a junior exploration company with a focus on precious metal exploration in Mexico, and holds a diverse historical portfolio of uranium and rare earth element prospects in Labrador and a history of gold exploration on the island of Newfoundland Labrador and in Mexico. Shareholders and other interested parties can view the Company's Information Circular, and financial statements on www.sedar.com or on our website at www.silverspruceresources.com. Neither the 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.
For further information:
Gordon Barnhill CFO/Director - Silver Spruce Resources Inc.
Tel: 902-527-5700 Fax: 902-527-5711 email: email@example.com
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