Silver Spruce Resources Inc. Expands its Mining Claims near Melchett Lake, Ontario

Silver Spruce Resources Inc., a mineral exploration company, announced its acquisition of 22 new mining claims covering 448.8 hectares close to Melchett Lake, Ontario. This expansion follows the agreement dated March 8, 2024, with an independent third-party vendor. These newly acquired claims are strategically located adjacent to the company's extensive Melchett Lake mineral property.

The addition of these claims reinforces Silver Spruce Resources Inc.'s presence in an area known for its polymetallic mineralization, demonstrating the company's commitment to exploring and developing its holdings near Melchett Lake. The Claims sit 1-2 kilometers south and southwest of the Nakina Zn-Au-Ag occurrence, one of the property's primary targets for mineral exploration.

In acquiring these claims, Silver Spruce Resources Inc. has agreed to a purchase price involving a $1,100 cash payment already made to the vendor and the issuance of 350,000 common shares of the Company. This transaction is pending the approval of the TSX Venture Exchange.

Greg Davison, PGeo and Vice-President of Exploration at Silver Spruce, highlighted the strategic importance of this acquisition. Davison, who serves as the Qualified Person for the Melchett Lake Project, ensures compliance with National Instrument 43-101 regarding disclosure standards for mineral projects.