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Re: News - Friday, September 14, 2007
Silver Spruce Resources -- Labrador Inuit Land
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September 14, 2007, Bridgewater, NS - Silver Spruce Resources Inc.
(TSXV: SSE) responds to concerns brought forward by the Nunatsiavut
Government (News release of September 7, 2007) regarding mineral
exploration by companies on Labrador Inuit Lands (LIL) as reported in
the CBC news stories on September 12, 2007.
The CBC news stories gave the impression that Silver Spruce's work on
exploration properties in Labrador would have to cease due to permit
problems with the Nunatsiavut Government. This perception is incorrect.
Problems were incurred when preliminary exploration (prospecting,
stream sediment sampling, line cutting and baseline environmental
studies) was carried out on Labrador Inuit Lands in the Mount Benedict
Area, prior to the submission of a work permit approval request, in
contravention of Section 4.11 of the Labrador Inuit Land Claims
Agreement. This was an oversight by the company and the company
immediately stopped all work on these lands, and has been in
communication with the Nunatsiavut Government to discuss the issue
since it was brought to the company's attention.
William Barbour, Minister of Lands and Resources of the Nunatsiavut
Government, has been contacted today and has agreed that Silver Spruce
Resources Inc. can resubmit work plans for properties within Labrador
Inuit Lands. Permission for this exploration could be granted in the
future if all required conditions of the work permits are met. Ongoing
discussions continue between the Nunatsiavut government and Silver
Spruce to ensure that all these requirements are met as required.
Labrador Inuit lands comprise approximately 15 percent of Silver
Spruce's exploration properties in Labrador and do not cover the CMBNW
project of Silver Spruce Resources Inc. and its joint venture partner,
Universal Uranium Ltd, where the Two Time uranium zone is located.
Properties within Labrador Inuit lands within the CMB joint venture are
Jacques Lake, CMBSE and CMBNE (partial) all of which have had limited
follow up on radiometric surveys carried out in 2006, with no
significant showings located to date. Work permit applications have
been filed with the Nunasiavut Government for follow up exploration on
these properties.
"We have great respect for the Labrador Inuit people and the
Nunatsiavut Government," stated Lloyd Hillier, President and CEO of
Silver Spruce. "We have taken steps to ensure this oversight does not
happen again. Earlier this year, we formed an Advisory Board with
representatives from the local Inuit community who help to guide the
company's exploration efforts. With management, the Board of Directors
and the Advisory Board all committed to Labrador and working together,
I am confident of shared successes with the Nunatsiavut government and
its people."
The Advisory Board (see news release dated June 19, 2007) is comprised
of four people, all of aboriginal descent and residents of Labrador.
Each is actively involved in their communities and with aboriginal
affairs and two are beneficiaries of the Nunatsiavut Government
agreement. Additionally, 50 percent of Silver Spruce employees are of
aboriginal descent and, as the company grows, Silver Spruce is
committed to continue to provide training and work to Labradoreans of
all descents.
At the request of the TSX (Market Regulation Services), Silver Spruce
also wishes to inform the public that results for holes CMB-07-21 to 24
on the Two Time zone remain pending. Results will be reported when they
are received.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration
company primarily focused on uranium in the Central Mineral Belt (CMB)
of Labrador, Canada. With over 12,500 claims totaling approximately
3,100 square kilometers in Labrador, Silver Spruce is the second
largest landholder in one of the world's premier emerging uranium
districts. With experienced partners and strong financial backing,
Silver Spruce is emerging as a leading uranium explorer in Canada.
On behalf of the Board of Directors, Gordon Barnhill, CFO and Director.
For Further Information Contact:
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
INVESTOR RELATIONS
Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 231
Toll Free: 1.866.684.4743 ext. 231
E-mail: keir@ascentacapital.com
Web: www.ascentacapital.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
The Company seeks Safe Harbour.
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Copyright (c) 2007 SILVER SPRUCE RESOURCES INC. (SSE) All rights
reserved. For more information visit our website at
http://www.silverspruceresources.com/ or send
mailto:info@silverspruceresources.com
Message sent on Fri Sep 14, 2007 at 10:19:24 AM Pacific Time
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