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Silverstone Announces Adoption Of Shareholder Rights Plan
December 15, 2008
Vancouver, B.C. � Silverstone Resources Corp. (�Silverstone� or the �Company�) announced today that its Board of Directors has adopted a shareholder rights plan (the �Rights Plan�). The Rights Plan, which took effect December 15, 2008, has been adopted to ensure the fair treatment of shareholders in the event of any take-over offer for the Company�s common shares.
The Rights Plan is not intended to prevent take-over bids that treat shareholders fairly. Bids that meet certain requirements intended to protect the interests of all shareholders are deemed to be �Permitted Bids� under the Rights Plan. Permitted Bids are offers to acquire common shares of the Company made by way of take-over bid circular and which must, among other requirements described in the Rights Plan, remain open for at least 60 days.
Silverstone is not adopting the Rights Plan in response to, or in anticipation of, any specific take-over bid or proposal to acquire control of the Company. The Rights Plan is similar to plans adopted by other Canadian companies. The full text of the Rights Plan will be available on the SEDAR website at www.sedar.com.
Although effective as of December 15, 2008, the Rights Plan is subject to ratification by the Company�s shareholders at the next annual meeting of shareholders. If ratified by shareholders, the Rights Plan must be confirmed at every third annual meeting thereafter. If not ratified by shareholders on or before June 15, 2009, the Rights Plan and all of the Rights outstanding at the time will terminate.
The TSX Venture Exchange has conditionally accepted the Rights Plan, subject to ratification by the shareholders of the Company.
ABOUT SILVERSTONE
Silverstone is a silver and gold mining company with 100% of its revenue from precious metal production. Silverstone expects to have 2008 silver sales of approximately 1.8 million ounces and increasing to 4.5 million ounces silver equivalent in 2009. More information is available online at: www.silverstonecorp.com ..
For further information about the Company, please contact:
Chris Tomanik or Mark Patchett, Telephone: (604) 637-8151 / Facsimile: (604) 688-2180
Email: ctomanik@silverstonecorp.com or mpatchett@silverstonecorp.com
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN.
This press release contains �forward-looking information� that is based on Silverstone�s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Silverstone�s mineral discoveries, plans, outlook and business strategy. The words �may�, �would�, �could�, �should�, �will�, �likely�, �expect,� �anticipate,� �intend�, �estimate�, �plan�, �forecast�, �project� and �believe� or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Silverstone�s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: projected sales or production rates; uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Silverstone disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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