March 23,
2007
Symbol: HIHO.CNQ
Frankfurt
Exchange: H9T
NEWS RELEASE
HI HO
SILVER COMPLETES PRELIMINARY DRILL PROGRAM AT CARMI MOLY PROPERTY
Hi Ho Silver Resources Inc.
(“Hi Ho”) is pleased to announce that it has completed its
preliminary Diamond drill program at Carmi Kettle River Molybdenum Project, BC.
A total of six holes totalling 1,150
metres were completed during February and March bringing the total to eight
holes.
The drill program was
designed to test chargeability anomalies developed from results of a 3D-IP
geophysical survey completed in October 2006 and to confirm grades reported from
previous drilling.
All core samples have been
submitted to the laboratory for analysis.
Results will be released after they are received by Hi Ho and all holes
will be analysed for both Molybdenum and Rhenium.
Hi Ho has an option to
acquire up to 70% interest in the Property from St. Elias Mines Ltd.
Hi Ho has hired Lucy
Miners
as Office Manager. Hi Ho also announces that it has granted incentive stock
options on a total of 50,000 common shares in the capital of the Company,
exercisable for up to two (2) years at an exercise price of $1.20 per share, to
an employee of the Company.
For more information contact
Fred Fisher
, President & CEO
and/or Isabel
Alves, Investor
Relations at Tel: (905) 602 4653 and Email: info@hhsr.ca
or visit the
Company’s Website at: www.hhsr.ca
..
Signed,
HI HO SILVER RESOURCES INC.
“Fred Fisher
”
Fred Fisher
,
President & C.E.O.
The CNQ Stock Exchange has
not reviewed and does not accept responsibility for the adequacy or the
accuracy of the contents of this document.
NOT FOR
DISTRIBUTION IN THE UNITED STATES OR TO U.S.
RESIDENTS
Forward-Looking Information:
This release
may include certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of
historical facts, that address future production, reserve or resource
potential, exploration drilling, exploitation activities and events or
developments that Hi Ho Silver Resources Inc. (the "Company") expects
to occur, are forward-looking statements. Such statements are identified in
this release by the use of words such as "will" and
"expected" as well as the use of the future or conditional tense.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements. Factors that
could cause actual results to differ materially from those in forward looking
statements include market prices, exploitation and exploration successes, and
continued availability of capital and financing and general economic, market or
business conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements. The Company
does not assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events or otherwise.