MISSISSAUGA, ONTARIO- Dec. 13, 2007 - Hi Ho Silver Resources Inc. ("Hi Ho Silver" or the "Company") (CNQ:HIHO)(FRANKFURT:H9T) is pleased to provide the following update with respect to the ongoing exploration activity at the Carmi (Kettle River) Molybdenum Property located in south-western British Columbia (the "Property").

The Company has recently completed four diamond drill holes on the Lake Zone. These drill holes were designed to test the continuity of the zone to the west and at depth. All four holes intersected the Lake Zone breccia. During a winter drill program one hole in this zone intersected 139.31 m of 0.128 % MoS2 and two historic holes returned values of 28 ft grading 0.57 MoS2 and 43 ft grading 0.326 MoS2. Assays on the four new holes are pending..

Drilling is currently ongoing on the E Zone with two additional drill holes completed. The Company will be suspending activity on the project for the Christmas break and expects to resume drilling January 7, 2008.

The Company would also like to apologize as it has been experiencing extremely slow turnaround at the analytical lab due to the large volume of samples received by the lab as a result of the high level of industry activity. As a result it is unlikely that the Company will receive any further analytical results prior to January 2008.

The results from the summer program are key to the compilation of an updated 43-101 resource calculation. The additional drill program will continue to expand the E-Zone while re-confirming historical results from the higher grade Lake Zone and developing it to its fullest potential.

The technical information contained in this news release has been verified by, Paul Reynolds, P. Geo., who is a qualified person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."

Fred Fisher states "We are committed to fast tracking the Carmi Project along as quickly as possible as the ongoing prospects for Moly and its short and long term demand remain extremely strong."

Investors are invited to visit the Hi Ho Silver Resources IR Hub at http://www.agoracom.com/ir/hiho where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to HIHO@Agoracom.com where they can also request to be added to the investor e-mail list in order to receive all future press releases and updates in real time.

Signed,

HI HO SILVER RESOURCES INC.

Fred Fisher, President & C.E.O.

Forward-Looking Information:

This release includes 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.

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

For more information, please contact
Hi Ho Silver Resources Inc.
Fred Fisher
President/CEO
(905) 602-4653
(905) 602-4656 (FAX)

or

Hi Ho Silver Resources Inc.
Isabel Alves
Investor Relations
(905) 602-4653
(905) 602-4656 (FAX)
Email: info@hhsr.ca
Website: http://www.hhsr.ca