VANCOUVER, BRITISH COLUMBIA, Dec 2, 2010 (Marketwire via COMTEX News Network) --
Silver Sun Resource Corp. (TSX VENTURE:SSU) ("Silver Sun" or "the Company") is pleased to announce that it has entered into a mineral property purchase agreement with Maggiore Capital Limited pursuant to which the Company has acquired one hundred percent (100%) right, title and interest in the Yoreme mineral claim (the "Property"). The Property is 400 hectares in size and is located in the Municipality of Alamos, state of Sonora, Mexico.
The Yoreme Property covers the San Manuel silver/lead/zinc vein, which has been traced for 500 metres. The San Manuel vein is the southwestern most structure in the Alamos Mining district - one of the oldest mining districts in Sonora. The Project is approximately 47 km northwest of Panamerican Silver's Alamo Dorado silver mine.
Initial sampling performed by Company's Mexican subsidiary retuned the following values:
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Sample Type Width (m) Ag (g/t) Pb (%) Zn (%)
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37459 Rock 2.0 569.3 1.63 6.04
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37460 Dump - 1,259.6 0.97 2.61
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37461 Rock 2.0 1,768.6 0.29 0.74
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37462 Rock 1.0 82.7 0.05 0.51
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37464 Dump - 85.9 2.02 2.62
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37465 Rock 1.0 1,825.7 0.18 0.31
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Follow-up sampling performed in conjunction with a technical report returned:
- 256.0 g/t silver over 1.96 m;
- 262.0 g/t silver over 1.8 m; and
- 126.0 g/t silver over 2.6 m.
Consideration paid to Maggiore Capital will be 2,500,000 common shares of the Company on the 10th business day following receipt of the requisite TSX Venture Exchange approval for the transaction. The Company has agreed to pay 200,000 shares as a finders' fee.
Robert van Egmond, P.Geo, is the company's Qualified Person as defined by National Instrument 43-101, who is responsible for monitoring the supervision and quality control of Silver Sun's exploration programs and who has reviewed and verified the technical information contained in this news release.
Samples mentioned in this news release were submitted to ALS Chemex and Inspectorate Labs for preparation and analysis in their facilities located in Hermosillo, Mexico and Vancouver, Canada. Samples consisted of approximately 2 - 4 kg. of material and were analyzed for gold by 30g fire assay and 40 element ICP. Over-limits in silver, lead and zinc were re-analyzed using 'ore grade' analysis.
About Silver Sun Resource Corp.
Silver Sun is a Canadian-based resource company focused on the acquisition and exploration of precious metal deposits in Mexico. The Company is engaged in an on-going work program on the Zacatecas, Salvador and Mina San Jose properties, located within the prolific Zacatecas Silver District in Mexico. The Company has an experienced management team with a growth strategy to develop a diversified portfolio of mining projects.
ON BEHALF OF THE BOARD OF DIRECTORS