VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2013) - Huldra Silver Inc. (News - Market indicators) ("Huldra" or the "Company") is pleased to provide an update on the development of their two underground drill drifts at the Treasure Mountain Mine. As noted in an earlier press release dated November 23, 2012, Huldra plans to develop two Diamond drill drifts on Level 2. The purpose of the drill drifts is to allow for the systematic testing of mineralisation between Level 1 and Level 2, with further drill testing for mineralisation 20m below Level 2.

As of January 23, 2013, development of the western Diamond drill drift is complete. The eastern Diamond drill drift has been advanced 37m. In total, the development of the two drill drifts is now over 60% complete.

While driving the western drill drift, a previously unknown mineralised structure was intersected. Two samples of vein material were collected from the structure. The first sample, composed primarily of siderite with lesser amounts of sphalerite graded 110ppm Ag, 0.79% Pb and 1.94% Zn. The second sample consisted of a mix of galena, sphalerite and siderite and graded 530ppm Ag, 6.2% Pb and 2.11% Zn*. The width of the structure is variable, ranging from approximately 0.1m up to approximately 0.25m. Mineralisation is also variable throughout the structure; however, the presence of this structure highlights the untested nature of the Treasure Mountain deposit. The newly identified structure lies 45m into the footwall of the main "C" vein at Treasure Mountain. To date, there has been no drill testing for structures into the footwall of the deposit and the hangingwall side of the deposit remains to be tested at depth.

Technical information in this news release has been reviewed and approved by Mark Williams, P.Geo., a Qualified Person as defined in National Instrument 43-101. For more information about the Company's Treasure Mountain Property, see the technical report entitled "Technical Report, Project Update, Treasure Mountain Property" dated June 7, 2012, available under Huldra's profile on SEDAR at www.sedar.com.

* Samples were analysed by ALS Chemex at their Vancouver laboratory, an ISO 9001:2000 certified laboratory. Samples were prepared by crushing to 70% less than 2mm, riffle splitting off 250g and then pulverising the split to better than 85% passing 75 microns. A 0.25g sample was then digested using a 4-acid digest and the solution was analysed by multi-element ICP-AES. Pb and Zn over limits were analysed using the ME-OG62 method. Ag was analysed by 30g fire assay with gravimetric finish.

About Huldra

Huldra is currently mining at its Treasure Mountain Project, located three hours east of Vancouver, BC, utilizing an offsite mill for processing mill feed at the Company's property outside of Merritt, BC. The Company is also actively assessing other opportunities for acquisition and development.

On behalf of the Board of Directors of HULDRA SILVER INC.

Ryan Sharp, MBA, President, CEO & Director