Bedford, NS, March 23, 2021– Silver Spruce Resources Inc. (the "Company") (TSXV:SSE) announced today that it has granted 250,000 stock options to a consultant of the Company with an exercise price of $0.06 per share and an expiry date of March 23, 2026.

The stock options will vest 1/3 on the date of the grant, 1/3 on the first anniversary of the grant and the final 1/3 on the second anniversary of the grant.

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, a drill-ready precious metal project, and 50% interest in Colibri's early stage Jackie Au project, with both properties located only 12 and 6 kilometres west from Minera Alamos's Nicho deposit, respectively. The Company also is pursuing exploration of the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. 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.

Brian Penney, Chairman and CEO
(902) 430-8270
info@silverspruceresources.com
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. The company seeks Safe Harbour.