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Silver Spruce Announces Private Placement of up to $300,000

Press Release

Bedford, NS- June 3, 2022 – (TSXV:SSE) – Silver Spruce Resources Inc. (the “Company”) announced today a private placement of up to 12,000,000 units at a price of $0.025 per unit for gross proceeds of up to $300,000. Each unit will consist of one common share and a warrant to purchase an additional common share at an exercise price of $0.05 per share for a period of three years from the closing of the private placement.

The proceeds from the private placement will be used for exploration of the Company’s mineral projects and general working capital.

The private placement is subject to the approval of the TSX Venture Exchange. Finder’s fees will be paid on the private placement in accordance with the policies of the TSX Venture Exchange.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, and up to 50% interest in each of Colibri’s Jackie Au and Diamante Au-Ag projects. Silver Spruce has signed Definitive Agreements to acquire 100% interest in the Mystery Au project in the Exploits Subzone Gold Belt, Newfoundland and Labrador, and the Pino de Plata Ag project in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

Silver Spruce Resources Inc.
Michael Kinley, CEO
(902) 402-0388
[email protected]
[email protected]
www.silverspruceresources.com

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