SSE Silver Spruce Resources Inc

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Silver Spruce Resources Inc. (TSX VENTURE:SSE) ("Silver Spruce") is pleased to
announce that it is arranging a non-brokered private placement to raise gross
proceeds of up to $500,000 (the "Offering").


The Offering shall consist of the issuance of flow-through ("Super FT Units") of
Silver Spruce, meeting the criteria under the Mineral Exploration Tax Credit or
"Super Flow-Through". The Super FT Units are offered at a price of $0.08 per
Super FT Unit, and consist of one flow-through common share and one half of a
common share purchase warrant. The warrants will expire three years after the
closing of the Offering if unexercised, with each whole warrant exercisable for
one common share at a price of $0.15 per common share during the first year
after the closing of the Offering, $0.20 per common share during the second year
after the closing of the Offering and $0.25 per common share during the third
year after the closing of the Offering. The maximum amount of monies to be
raised with the issuance of 6,250,000 Super FT Units is $500,000. A finder's fee
may be paid on the Offering of up to 7% of the proceeds of the Offering, payable
in cash or through the issuance of common shares valued at $0.08 per common
share.


The gross proceeds raised from the issuance of the Super FT Units shall be used
for general exploration expenditures on Silver Spruce's Newfoundland and
Labrador projects, which shall constitute Canadian exploration expenses (as
defined in the Income Tax Act (Canada)) and shall be renounced for the 2012
taxation year.


All securities issued in connection with the Offering shall be subject to a
four-month hold period in accordance with applicable securities requirements.
The Offering is subject to fulfillment of the requirements of the TSX Venture
Exchange.


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
additional information please visit the company's website.

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