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.