Star Metro - Silver Spruce Resources, Inc. Announces Management Changes and Option Grants

Kevin O'Connor has been an independent Director of the Corporation since 2019. Since 1996, he has been a corporate attorney licensed in California (inactive) and Illinois (active). His mining experience stems from him previously owning a land package which comprised the Kay Copper Mine in Arizona. He was formerly senior legal counsel for Caterpillar Inc. and worked as a corporate lawyer in Beijing and Shanghai for 11 years; and has been fluent in Mandarin Chinese for three decades. Currently, he is based in Glen Echo, Maryland.

Michael Kinley has served as an officer and director of several junior public mining companies over the past 30 years, and prior to that was a partner with KPMG in Canada. He is presently Chief Financial Officer of Opus One Resources, Inc. (OOR) and has been acting as the interim Chief Financial Officer of the Corporation since May 2023. The Board accepted Mr. Kinley's resignation as Chief Executive Officer of the Corporation, and the Corporation is pleased that he accepts the role of Chief Financial Officer.

The Corporation also announces that the Board of Directors has approved the grant of an aggregate of 1,125,000 stock options to certain directors, officers, employees and consultants of the Corporation. Each option entitles the holder to acquire one common share of the Corporation at a price of $0.15 per share for a period of five years from the date of grant. The options were granted under and are subject to the terms and conditions of the Corporation's stock option plan.

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:

Kevin Thieneman, Chairman
[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 Resources. Forward-looking statements include estimates and statements that describe Silver Spruce Resources' future plans, objectives or goals, including words to the effect that Silver Spruce Resources 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 Resources, 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 changes of management of the Corporation. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, 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 Resources 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

O.Gauthier--SMC