Magnus Bratlien, President of Huldra Silver Inc, wishes to announce that Erik Ostensoe P. Geo. and Farshad Shirvani, M. Sc. have completed a National Instrument 43-101 compliant mineral resource assessment

Magnus Bratlien, President of Huldra Silver Inc, wishes to announce that Erik Ostensoe P. Geo. and Farshad Shirvani, M. Sc. have completed a National Instrument 43-101 compliant mineral resource assessment of the Company’s wholly owned Treasure Mountain property, located 27 km east of Hope, British Columbia. (The report is posted on the Company’s website.)

Based on historical data confirmed by 2007 audit sampling, a $165 cut off value and silver at $15/ounze, lead at $0.70 lb and zinc at $0,80 (USD), resources are defined as follows:

• 38,114 tonnes indicated with 32.76 oz/tonne silver, 5.92 % lead and 5.92% zinc
• 50,991 tonnes inferred   with 29.66 oz/tonne silver, 4.36 % lead and 4.98% zinc

Mr. Ostensoe recommends a 2.5 M exploration/development program to upgrade inferred and indicated resources, stating that “Some of that up-grading may be accomplished in the course of preparing the presently defined indicated resource for production. Current mine planning (by A. J. Beaton, P. Eng.) envisions placing a number of raises and all or, at least most, of these openings will follow and/or pass through the Treasure Mountain vein and by increasing the density of sample spacing will facilitate reclassification of the material.”

Ostensoe deems the potential for additional resources in and near the ‘mine’ to be good and recommends accessing and sampling historic workings not included in the current resource calculations – to be complemented by 2000 meters of underground and surface diamond drilling. The Jensen Adit located 400 meters west of the Level 3 portal and the Ruby Zone located 1.1 km east of the portal are prime targets for surface drilling. “Both areas, on the basis of geology and mineralogy, may be extensions of the Treasure Mountain mineralized structure and both have produced samples of zones that resemble the main deposit in character and metal contents.” 

Subject to financing, the Company will address these recommendations with the objective of defining sufficient indicated and measured resources at values supportive of an economic mine/mill operation, the optimum size of which will be determined by an economic analysis. However, the Company is in the process of qualifying the Treasure Mountain property for a 36,000 tonnes per year mine/mill operation so that subject economic viability, permitting and financing, the property can be put into production. 

This news release contains forward looking statements concerning the Company’s plans and expectations. These forward looking statements are subject to a variety of risks and uncertainties which could cause actual results to differ materially from those reflected in the forward looking statements.

On behalf of the Board of Directors

”Magnus Bratlien”
Magnus Bratlien,
President

The foregoing news release was prepared by Magnus Bratlien, the President and a director of the Company who accepts responsibility for its contents.  

“The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.”