SILVER SPRUCE RESOURCES INC. PROVIDES AN UPDATE ON THE JACKIE PROJECT ACQUISITION
Silver Spruce Resources Inc. has provided an update regarding the Jackie project located in Sonora, Mexico. As previously announced (see news releases dated May 14, 2025, Nov. 12, 2025, and May 5, 2026), the corporation has entered into an agreement with Colibri Resource Corp., pursuant to which Silver Spruce will acquire Colibri's 50-per-cent ownership interest in the Jackie gold-silver property. In consideration for Colibri's 50-per-cent interest, Silver Spruce will issue $25,000 worth of common shares in the capital of the corporation to Colibri and grant a 1-per-cent net smelter return royalty on any future production from the Jackie project.
Silver Spruce has received the TSX Venture Exchange approval for the acquisition of the Jackie project. It is expected that the transaction will close once Colibri obtains the TSX-V approval for this transaction. Upon closing, Silver Spruce will own 100-per-cent 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 Inc.
Silver Spruce 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 fewer than 10 kilometres northwest from Minera Alamos's Nicho deposit in eastern Sonora, Mexico;
- Melchett Lake volcanogenic massive sulphide zinc-silver-gold-copper project -- polymetallic project with historical drilling in the Thunder Bay mining district of Ontario.
Contact:
Kevin O'Connor, Director
(312) 509-5972
koconnor@silverspruceresources.com
info@silverspruceresouces.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.
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 Resource's 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", or "plan". 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 di er 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 adoption of semi-annual reporting. Factors that could cause actual results to di er 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.