Silver Spruce Withdraws September Private Placement and Files New Application

BRIDGEWATER, NOVA SCOTIA–(Marketwired – Nov. 5, 2015) – Silver Spruce Resources Inc. (TSX VENTURE:SSE)(FRANKFURT:S6Q) announced today that the Company will not proceed with arrangement of the non-brokered private placement as previously announced in its media release dated September 28, 2015. The Board has opted to withdraw this price reservation in favor of filing new documents with TSXV for a non-brokered placement of up to 13,333,333 Units for gross proceeds of up to $1,000,000.

The gross proceeds of the financing shall be used to progress exploration 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.

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