TSX Venture Exchange gives final approval for $4.69 million financing

June 7, 2006
BRIDGEWATER, NS, CANADA -- June 7, 2006 - Silver Spruce Resources Inc. (the
Corporation") (TSX-V: SSE), a junior mineral exploration company, has announced that the TSX Venture Exchange has provided final acceptance of the May 18, 2006 brokered private placement with Pacific International Securities Inc. announced on May 19, 2006 raising gross proceeds of $4,690,000. The offering consisted of the issuance of 4,800,000 flow-through units ("FT Units") and 3,620,000 non-flow-through units (the "Units") of the Corporation.

The FT Units and the Units issued in connection with this offering will be subject to a fourmonth hold period in accordance with applicable securities requirements expiring on September 19, 2006.

The Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and were offered and sold within the United States only to Accredited Investors (as defined in Rule 501(a) of Regulation D under the U.S. Securities Act). Prospective subscribers of the Units in the United States are hereby notified that the seller of the Units is relying upon the exemption from the provisions of Section 5 of the U.S. Securities Act provided in Section 4(2) of the U.S. Securities Act for non-public offerings. The Securities offered hereby are not transferable except in accordance with the restrictions described herein.

On behalf of the Board of the Corporation, Gordon Barnhill Telephone: (902) 527-5700, Fax: (902) 527-5711.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.