Huldra Silver Inc. resamples and verifies mineralization in the M.B. Zone Treasure Mountain Project, British Columbia, Canada

VANCOUVER, B.C., October 7, 2013 – Huldra Silver Inc. (“Huldra” or the “Company“) is pleased to confirm, via resample and assay, the promising nature of the mineralization identified in the M.B. Zone. The M.B. Zone is the highest priority exploration target on the Treasure Mountain property, and sits to the north-west of the Treasure Mountain Mine. During 2010, independent geologist, Erik Ostensoe, P. Geo, sampled material while exploring for mineralization in the M.B. Zone. The highlight of this exploration program was the reporting of a composite sample of reddish oxide material, which graded 0.81 g/t Au, 9221 g/t Ag, 1.02% Cu, 1.14% Pb and 1.03% Zn. Results from the 2010 exploration program were initially reported in a press release dated August 25, 2010.

During September 2013, a limited soil sampling program was undertaken to extend the soil sampling grid in the M.B. Zone to the south-west, beyond the Cal-Val trench area. All though the Company is under creditor protection under the Companies’ Creditors Arrangement Act (Canada) and limited financially, Huldra’s new management team felt that greater emphasis should be placed on understanding the highly prospective M.B. Zone. The September 2013 program focused on revisiting and expanding the zone via rock sampling and soil sampling. The results from the resampling are presented below.

Samples were analysed by ALS Chemex at their Vancouver laboratory. ALS Chemex Vancouver is an ISO 9001:2000 certified lab. Samples were prepared by crushing to 70% less than 2mm, riffle splitting off 250g and then pulverising the split to better than 85% passing 75 microns. A 0.4g sample was then digested using a 4-acid digest and the solution was analysed by multi-element ICP-AES. Pb and Zn overlimits were analysed using the ME-OG62 method. Au and Ag assays were analysed by 30g fire assay with gravimetric finish.

Due to the limited number of rock chip samples in this batch, only lab duplicate quality assurance / quality control (“QA/QC“) samples were submitted by the Company. As such, the Company has relied on internal QA/QC (blanks and reference materials) supplied by ALS Chemex Vancouver to ensure accuracy of the results reported. All internal QA/QC supplied by ALS Chemex passed examination and the assay certificate was judged to be accurate.

A map showing the location of the rock chip sample, as well as results from the 2011/2012 soil sampling program, and the location of the new 2013 soil sampling program, is provided below. The underlay for the map is an airborne magnetic susceptibility survey. The survey shows a geophysical anomaly in the M.B. Zone of the same intensity as the geophysical anomaly in the Treasure Mountain Mine area.

The rock chip results confirm the earlier high grade nature of the mineralization identified in the M.B. Zone. The high silver grades, in conjunction with the relatively low lead and zinc grades, suggest that the silver mineralization is associated with sulphosalt minerals. In addition, Huldra is awaiting assay results from the recent soil sampling program and will release the results from that program once the analyses become available.

Technical information in this news release has been reviewed and approved by Mark Williams, P. Geo. and has relied on data previously collected by Erik Ostensoe, P. Geo. as well as the internal QA/QC supplied and verified by ALS Chemex Vancouver.

On behalf of the Board of Directors

Garth Braun
CFO & Director

For additional information contact:
Garth Braun at (604) 647-0142

The information in these press releases is historical in nature, has not been updated, and is current only to the date indicated in the particular press release. This information may no longer be accurate and therefore you should not rely on the information contained in these press releases. To the extent permitted by law, Nicola Mining Inc. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.