Silver Spruce files Environmental Reports for Trench and Drill Permitting at the El Mezquite and Jackie Au-Ag projects, Sonora, Mexico

BEDFORD, March 9, 2022 - Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") announces the submittal of our Informe Preventivos to the Mexican government environmental authority, SEMARNAT, in application for drilling permits at the El Mezquite and Jackie projects. Silver Spruce engaged Green & Ceo ("Green"), Asesorío Profesional y Securidad en Ambiente, of Hermosillo, Sonora to manage the environmental permitting process.

"We are pleased to confirm that the permitting documents were submitted to SEMARNAT by Saul Ruiz and his team at Green. These filings provide details for geological planning and all pertinent environmental parameters necessary to proceed with our maiden trenching and drilling program proposed for Jackie and to advance the project scope from our initial Informe Preventivo for the Phase 2 drilling program recommended at Mezquite," stated Greg Davison, Silver Spruce Vice-President Exploration and Director.

"The original environmental application for Mezquite and recent report delivered for Diamante attest to their high-quality technical expertise and we anticipate approval of SEMARNAT permits without delay in March 2022," said Mr. Davison. "The Company now will forge ahead with logistics planning and contractor selections for trenching to be followed by drilling."

Figure 1. El Mezquite and Jackie Concession Location Map. Note adjacent Diamante 1 and 2.

The 180-hectare El Mezquite Gold project ("Mezquite") and the 1,130-hectare Jackie Au-Ag property ("Jackie"), are precious metal projects located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico (Figure 1). The Properties are located within the west-central portion of the Sierra Madre Occidental Volcanic Complex of northern Mexico. Mining and exploration in the surrounding area is very active with adjacent and nearby properties held by Alamos Gold, Argonaut, Agnico Eagle, Evrim, Newmont, Garibaldi, Kootenay Silver and Penoles among others.

Jackie Exploration

Exploration plans were submitted for a 500-1,000-metre trenching program followed by a 1,000-2,000-metre reverse circulation drill program to evaluate the principal geochemical surface targets located near the centre of the concession. The trenching plans are shown in Figure 2 with Au and Ag assays from recent rock sampling. High grades of mineralization up to 9.65 g/t Au and 515 g/t Ag, with coincident alteration and geochemical features, are transected by NW-trending lineaments (see Press Release of December 29, 2021).

The prospecting and mapping identified a significant Au-Ag anomaly, commonly though not exclusively, associated with elevated Hg, Pb, Zn, Cd, As, Sb and Cu with spatial distribution and trends comparable to the multi-element data recorded for the nearby El Mezquite property.

Figure 2. Target lines for proposed trenching activities on the Jackie Concession shown with Au and Ag assays. Individual trenches measuring up to 20 metres in length will be located on Priority 1 (red) and 2 (yellow) lines. Shaded LIDAR 20cm high-resolution base map.

El Mezquite Exploration

Phase 2 exploration plans were submitted for a 1,500-2,500-metre reverse circulation drill program to test existing and newly defined targets over precious metal anomalies with coincident structural, geochemical and geophysical features (see Press Release of December 22, 2021).

Six drill pads remain available from the fourteen originally permitted in 2021 and twenty-four new pads were proposed for holes on the northern, northwestern and southeastern sections of Mezquite (Figure 3).

The Phase 1 drilling program, comprising 20 holes with 2,485 metres completed, met initial expectations for a low-grade, heap-leachable target with mineralization in the range of 0.1 g/t Au to 1.0 g/t Au. Significant low-grade multi-metal haloes, including pathfinder elements Hg, Cu, Pb, Zn, Sb and As, point to the importance of the geochemical zoning and structural targets.

Figure 3. Phase 1 drill collars under permit and Phase 2 drill collars proposed in 2022 environmental report on the El Mezquite property. Shaded LIDAR 20cm high-resolution base map.

Project Background

The El Mezquite and Jackie projects are currently subject to option agreements with Colibri Resource Corp., wherein SSE can earn up to 50% of the gold and silver projects by meeting specific criteria over periods of two to four years.

Mezquite and Jackie are well situated in logistics for exploration and located six to fifteen kilometres west and northwest of the Nicho deposit of Minera Alamos (Figure 1). The Properties are easily accessible from Mexican Highway #16, which transects Diamante 1 and El Mezquite, ranch trails and dry river beds to Diamante 2, and dry river bed access from the pueblo of La Quema, west of Highway #117 to Jackie.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the El Mezquite and Jackie Projects and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.

About Green & Ceo

Green & Ceo, Asesorío Profesional y Securidad en Ambiente (Professional Advisory and Safety in the Environment), based in Hermosillo, Mexico, specializes in solving, optimally and sustainably, all matters of Environmental Management, Safety and Hygiene, typical of current Economic Development. Green & Ceo is a CEDES Accredited Service Provider (Prestador de Servicios Acreditado por CEDES).

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, and up to 50% interest in each of Colibri's Jackie Au and Diamante Au-Ag projects. The Company is acquiring 100% interest in the Pino de Plata Ag project in western Chihuahua, Mexico. Silver Spruce signed a Definitive Agreement to acquire 100% interest in the Mystery Au project in the Exploits Subzone Gold Belt, Newfoundland and Labrador. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

Silver Spruce Resources Inc.

Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com

Michael Kinley, CEO
(902) 402-0388
mkinley@silverspruceresources.com

info@silverspruceresources.com
www.silverspruceresources.com

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Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE: Silver Spruce Resources Inc.