Silver Spruce to Issue Shares to Cocula Vendor and Land Owners

BEDFORD, NS / ACCESSWIRE / January 21, 2020 / Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) (the "Company") announced today that further to its news release dated November 29, 2019 announcing the termination of the Cocula project that it is seeking the approval of the TSXV Venture Exchange to an Amendment dated September 10, 2019 ("Amendment") to the Letter of Agreement dated July 13, 2019 with ProDeMin, S.A. de C.V. ("ProDeMin"). Under the terms of the Amendment the Company is required to issue 1,700,000 common shares at a deemed price of $0.05 per share which 1,500,000 common shares are to be issued to ProDeMin and 200,000 common shares are to be issued to the land owners of the Cocula Project.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a well-positioned, Canadian junior exploration company pursuing the exploration and development of the Melchett Lake VMS project in Ontario, Canada, and the Pino de Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of western Chihuahua State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

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.

Contact:

Silver Spruce Resources Inc.

Karl Boltz, President/CEO/Director
(866) 641-3397
[email protected]
www.silverspruceresources.com

SOURCE: Silver Spruce Resources Inc.