Golden Sun Mining Corp. SSUXF

NEWS

[reelnorth]

Here is what we were halted on I suppose

Jan 04, 2011
Silver Sun Provides Corporate Update on Zacatecas Properties and Proceeds from Exercise of Warrants
Vancouver, British Columbia (January 4, 2011) -- Silver Sun Resource Corp. ("Silver Sun" or "the Company") is pleased to announce that the Company's board has determined to proceed with the production of the stockpiles within the Zacatecas concessions located in the Zacatecas District in north-central Mexico. Further, the Company has access to additional mineralized stockpiles in the immediate area of which the company has previously trenched, sampled and surveyed. The Company's Zacatecas project is jointly owned with IMPACT Silver (TSX-V: IPT) with the Company holding a 73% interest in the project. A copy of the Company's NI 43-101 technical report on the Zacatecas properties dated August 21, 2008 is available at www.sedar.com.
Further to the Company's news release of October 4, 2010 and as disclosed in the Company's management discussion and analysis for three months ended October 31, 2010, the Company has received the mining and reclamation permits required from the Mexican government in order to put the property into production. The Company's ability to commence production is subject to a number of conditions including reaching agreements with mill owners to process material from the Company's stockpiles. There is no assurance that the Company will commence production on the Zacatecas properties or that such production will produce economically feasible results. 
The Company is currently negotiating with local mill owners regarding the opportunity to produce through their mills. There is no assurance that the Company will reach an agreement on commercially acceptable terms with the local mill owners as planned or at all.
Exercise of Warrants
As a corporate update, the Company is pleased to announce that it has received gross proceeds of $1,220,738.40 from the exercise of 12,207,384 warrants at a price of
.10 per warrant into common stock of the Company from prior private placements. The Company intends to use its cash on hand to continue with their exploration/exploitation activities on their Mexican projects.

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