Star Metro - Silver Spruce Resources Inc. Provides an Update on the Jackie Project Acquisition

BEDFORD, NS / ACCESS Newswire / June 5, 2026 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Corporation") is pleased to provide an update regarding the Jackie Project located in Sonora, Mexico. As previously announced (see News Releases dated May 14, 2025, November 12, 2025 and May 5, 2026), the Corporation has entered into an agreement with Colibri Resource Corporation ("Colibri") pursuant to which Silver Spruce will acquire Colibri's 50% ownership interest in the Jackie Au-Ag property ("Jackie"). In consideration for Colibri's 50% interest, Silver Spruce will issue C$25,000 worth of common shares in the capital of the Corporation to Colibri and grant a 1% Net Smelter Return royalty on any future production from the Jackie Project.

Silver Spruce has received the TSX Venture Exchange (the "TSXV") approval for the acquisition of the Jackie Project. It is expected that the transaction will close once Colibri obtains the TSXV approval for this transaction. Upon closing, Silver Spruce will own 100% interest in the Jackie Project.

Kevin O'Connor is a director of both Silver Spruce and Colibri and has abstained from voting on this transaction.

About Silver Spruce Resources

Silver Spruce Resources Inc. is a Canadian junior exploration company. The Company's diversified exploration portfolio includes:

• Pino de Plata Ag Project - High-grade silver property with historic artisanal mining located 15 kilometres west of Coeur Mining's Palmarejo Mine in western Chihuahua, Mexico

• Jackie Au-Ag Project - Early-stage epithermal project with high-grade surface sampling and strong structural targets located

• Melchett Lake VMS Zn-Ag-Au-Cu Project - Polymetallic project with historical drilling in the Thunder Pay Mining District of Ontario

Contact:

Paul K. Smith (P. Geo.), Vice-President Exploration
[email protected]

Kevin O'Connor, Director
[email protected]

[email protected]
www.silverspruceresources.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.

Notice Regarding Forward-Looking Statements

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Silver Spruce. Forward-looking statements include estimates and statements that describe Silver Spruce's future plans, objectives or goals, including words to the effect that Silver Spruce or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "intends", "plans", "subject to" or "proposed". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Silver Spruce, the Corporation provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.

Forward-looking information in this news release includes, but is not limited to, the Corporation's objectives, goals or future plans, statements regarding the proposed acquisition of Colibri's 50% interest in the Jackie property and the Corporation's anticipated 100% ownership interest in the Jackie property following completion of such acquisition. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Jackie transaction on the terms disclosed or at all, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Corporation's public documents filed on SEDAR+. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Silver Spruce disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Silver Spruce Resources, Inc.

View the original press release on ACCESS Newswire

S.Lapointe--SMC