Silverstone Reports 2008 Silver Sales Of 1.7 Million Ounces And Forecasts 2009

February 5, 2009

Silverstone Resources Corp. (�Silverstone�) reports sales of 1,669,000 ounces of silver in 2008.  On November 21, 2008, Silverstone completed the purchase all of the payable gold and silver from Sherwood Copper Corporation�s Minto Mine in the Yukon over the life of mine starting December 1, 2008 (see November 21, 2008 press release). Silverstone has received advance payments on approximately 3,700 ounces of payable gold and 33,000 ounces of payable silver from the Minto mine as at December 31, 2008 that will be recorded as sales in the first quarter.  Silverstone purchased 2008 production at an average cost of US$3.97 per ounce.  The cost of silver is fixed at less than US$4.00 per ounce through 2010.

Note: Audited results for the year ended December 31, 2008 will be reported in April 2009.
(1)   2008 totals may not match the totals from individual quarters due to post-quarter adjustments.

2009 Sales Forecast (2)

(2)     Silver sales forecasts are based on 2008 actual metallurgical recoveries of silver to concentrates at the various operations combined with forecast grades and production and existing smelter contracts for the different concentrates.
(3)     Silver equivalent ounces are calculated by using a ratio of 1 ounce of gold is equivalent to 70 ounces of silver.        

Mr. Hugh Willson, P.Geo., Vice-President, Exploration of Silverstone, who is a �qualified person� under National Instrument 43-101, has reviewed and approved the technical aspects of this news release. 

ABOUT SILVERSTONE

Silverstone is a silver and gold mining company with 100% of its revenue from precious metal production. 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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