BRIDGEWATER, NOVA SCOTIA--(Marketwired - July 13, 2016) - Silver Spruce Resources Inc. (TSX
VENTURE:SSE)(FRANKFURT:S6Q) announces a non brokered private placement to sell up to 7,692,308 units (the "Units") in the capital
of the Company at a price of $ 0.065 cents per Unit for total proceeds of up to CDN $500,000. Each unit will consist of
one (1) common share in the capital of Silver Spruce and one share purchase warrant. Each warrant will entitle the holder to
purchase one additional common share of Silver Spruce (a "Warrant Share") for ten cents ($0.10) at any time prior to the date
which is twenty four months (2 years) from a particular Closing Date, at which time the Warrants will expire. All units
acquired pursuant to the private placement, and shares which may be acquired upon the exercise of the warrants, are subject to a
four (4) month hold period in accordance with applicable securities legislation.
The gross proceeds of the financing shall be used for 1st stage drilling on specific targets on the Pino de
Plata Project in Mexico and for working capital. The Company will pay all reasonable expenses and fees incurred in
connection with the Offering and Agents will be paid a negotiated cash fee as a percentage of the gross proceeds raised in the
Offering. These financing, terms, and finder's fees are subject to TSX Venture Exchange approval.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc is a well positioned, Canadian junior exploration company pursuing development of the Pino de
Plata epithermal silver/ base metal/ gold project located in the prolific Sierra Madre Occidental region of Western Chihuahua
State in Mexico. The company has recently completed an exploration assessment on the property. Silver Spruce also retains a
portfolio of uranium and rare earth element properties in Labrador.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.