SSE Silver Spruce Resources Inc

Silver Spruce Resources Inc. (TSX VENTURE:SSE)(FRANKFURT:S6Q) - 



--  Significant REE and U mineralization noted in different areas in limited
    exploration 
--  0.4% TREO/7.8 m, including 4.33% TREO over 0.5 m in Trenching 
--  Values to 0.83% U3O8 with five values greater than 0.12% U3O8 in
    outcrop/float grab samples 



Silver Spruce Resources Inc. is pleased to announce that it is continuing its
option on the road-accessible MRT, Rare Earth Element (REE) and Uranium (U)
property on the Trans-Labrador Highway (TLH) in southern Labrador, located
approximately 35 km from Goose Bay. Terms of the agreement to earn a 100%
interest subject to a 2.5% NSR with a buyback of 1.5% for $1.5M, are a total of
$80,000 cash, 500,000 shares and a work commitment of $250,000 by the end of the
second year. The second year option payment of $25,000 and 150,000 shares was
made to the vendor in late February.


The company has carried out regional exploration including prospecting, stream
sediment geochemistry, soil geochemistry and an airborne
radiometric/magnetic/VLF-EM survey since the option in the winter of 2011.
Results indicate a significant area of REE mineralization in the southwestern
portion of the group and a non-coincident area of Uranium mineralization in the
southeastern portion of the property.


"With encouraging results for both REE and Uranium mineralization, based on
relatively limited exploration, we are continuing the option on this property,"
stated Peter Dimmell, President and CEO of Silver Spruce Resources. "We believe
the Pope's Hill REE Trend is a district-scale REE project and the high Uranium
values, which do not appear to be associated with the REE mineralization, have
provided us with an added incentive to move forward with expanded exploration
plans in the area during 2012."


REE - Prospecting, stream sediment and soil geochemistry have defined a 2 km2
area in the southwestern portion of the property as being prospective for REE
mineralization. TREE values up to 10.4% were located in outcrop and float in
this area (NR Aug. 9/11). Trenching tested two REE mineralized areas,
approximately 75 m apart, in the southern area of the property, where TREE
values up to 6.9% were located in bedrock during prospecting surveys (NR Aug.
9/11). Eighty (80) channel samples were taken in the two trenches over widths
varying from 0.2 to 2 m. Anomalous REE zones are associated with allanite
mineralization in pyroxene rich pegmatitic units. The most significant value was
4.33% TREO over 0.5 m in Trench #2 in a zone than ran 0.4% TREO over 7.8 m. HREO
values were low ranging from 1.4 to 6.4% of TREO. Th values are generally
100-200 ppm with a high value of 1000 ppm (0.1%) noted. True widths of the zones
are estimated to be close to the sampled widths in these near vertically dipping
units.


U - Three outcrop samples acquired in areas of higher radioactivity in January
2011, gave values of 0.825% U3O8, 930 ppm Th; 234 ppm U (0.027% U3O8), 72 ppm
Th; and 744 ppm U (0.088% U3O8), 288 ppm Th with U/Th ratios varying from 8 to 3
(NR Feb. 17/11). Seven prospecting grab samples, taken during exploration for
REE mineralization, in the summer of 2011, gave values greater than 0.05% U
(0.059% U3O8) or 1 lb/tonne, including four greater than 0.1% U (0.12% U3O8) or
2 lbs/tonne (NR Sept. 13/11). All samples were acquired in the southern part of
the property over a 2 km long trend, along and to the north of the power line
and are not coincident with the high REE values. No follow up has been carried
out on the Uranium mineralization as emphasis was placed on the REE. Follow up
is planned for 2012 since Uranium prices appear to be poised for a significant
price increase and the Uranium mineralization is located less than 1 km from the
TLH.


All samples were transported to Activation Labs' preparation facility in Goose
Bay by SSE personnel, then shipped to their laboratory in Ancaster, ON for
analysis using their 8 REE package which includes U and Th, for rock and channel
samples and their 1D enhanced package for streams and soils. The laboratory uses
internal standards to check the analyses and blanks are included in each sample
batch. Plan maps showing a compilation including the trenching and the airborne
thorium radiometric and magnetic data, the uranium values and pictures of the
area are available on the Silver Spruce website at www.silverspruceresources.com


This release has been approved by Peter M. Dimmell, P.Geo., President and CEO of
Silver Spruce Resources Inc., who is a Qualified Person (QP) in NL and ON as
defined in National Instrument 43-101.


About Silver Spruce Resources Inc.

Silver Spruce is a diversified junior exploration company with a portfolio of
rare earth (Pope's Hill, Pope's Hill JV (with Great Western Minerals Group),
MRT, RWM and the Straits), gold silver (Big Easy), and for the longer term,
uranium (CMBJV, Snegamook, Double Mer, Mount Benedict), projects in Newfoundland
and Labrador. With interests in more than 4,000 claims totalling more than 1,000
square kilometres in Labrador, Silver Spruce is one of the largest landholders
in one of the world's premier emerging rare earth and uranium districts. For
more information go to www.silverspruceresources.com.


The company seeks Safe Harbour.

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