Mots clés associés : Canada | G Mexico | K Street | Uranium |

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Private placement of up to $700,000

December 14, 2009 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce it is arranging a non-brokered private placement to raise gross proceeds of up to $700,000 (the "Offering").

The Offering shall consist of the issuance of up to 10,769,231 flow-through units ("FT Units") of Silver Spruce. Each FT Unit shall be offered at a price of $0.065 per FT Unit and shall consist of one flow-through common share and one common share purchase warrant, with each whole warrant exercisable at a price of $0.10 per non-flow-through common share if exercised within 12 months of the closing of the Offering and $0.15 per non-flow-through common share if exercised thereafter up until 24 months after the closing of the Offering.

A finder's fee shall be payable of up to 5% of the aggregate gross proceeds of the Offering payable in FT Units and an additional finder's fee of up to 10% of the aggregate gross proceeds of the Offering shall be paid in options to purchase FT Units. Any FT Units issued to a finder shall be on a non-flow-through basis. No fees shall be payable on amounts subscribed by insiders.

The gross proceeds raised from the issuance of the FT Units shall be used for general exploration expenditures on Silver Spruce's Newfoundland and Labrador projects, which shall constitute Canadian exploration expenses (as defined in the Income Tax Act (Canada)) and shall be renounced for the 2009 taxation year.

All securities issued in connection with the Offering shall be subject to a four-month hold period in accordance with applicable securities requirements. The Offering is subject to fulfillment of the requirements of the TSX Venture Exchange.

ABOUT SILVER SPRUCE

Silver Spruce is a junior exploration company with advanced gold/silver projects in Mexico and the island of Newfoundland, and base metal projects in central and western Newfoundland. The company was originally focused on uranium in the Central Mineral Belt (CMB) and elsewhere in Labrador, Canada and with continued interests in more than 6,000 claims totaling more than 1,500 square kilometers in Labrador, Silver Spruce remains the second largest landholder in one of the world's premier emerging uranium districts. This diversity makes Silver Spruce a leading explorer in Canada and Mexico.

For Further Information, Contact:

SILVER SPRUCE RESOURCES
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com

INVESTOR RELATIONS
Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 243
Toll Free: 1.866.684.4743 ext. 243
E-mail: hugh@ascentacapital.com
Web: www.ascentacapital.com

Neither 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.

The company seeks Safe Harbour.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION VIA U.S. NEWSWIRE

Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada

Silver Spruce Resources Inc.

	EXPLORATEUR
	CODE : SSE.V
	ISIN : CA8282291043

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Silver Spruce Res. est une société d’exploration minière d'or basée au Canada.

Silver Spruce Res. détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont CMB E, SEAL LAKE/SEAL LAKE NORTH, MOUNT BENEDICT, T-649 / SUPER 7, MAKKOVIK RIVER, TOKIALUK BAY, STRAITS, DOUBLE MER, CENTRAL MINERAL BELT, SNEGAMOOK, CENTRAL NEWFOUNDLAND (CNL), TWO TIME ZONE, HUDSON BAY, CALVIN LANDING et BIG EASY au Canada et CENTAURO au Mexique.

Silver Spruce Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 623 261 CA$ (453 578 US$, 426 091 €).

La valeur de son action a atteint son plus haut niveau récent le 11 février 2011 à 3,60 CA$, et son plus bas niveau récent le 15 septembre 2023 à 0,01 CA$.

Silver Spruce Res. possède 31 163 053 actions en circulation.

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