Hi Ho Silver Resources Inc.
CNQ : HIHO
FRANKFURT : H9T

Hi Ho Silver Resources Inc.

August 06, 2008 11:19 ET

Hi Ho Silver Resources Inc.: 2008 Exploration Program Update Silver Tip Project, Kaslo, BC

TORONTO, ONTARIO--(Marketwire - Aug. 6, 2008) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. RESIDENTS.

Hi Ho Silver Resources Inc. ("Hi Ho" or the "Company") (CNQ:HIHO)(FRANKFURT:H9T) is pleased to provide an update regarding the status of the ongoing 2008 Exploration Program at the Silver Tip Silver Project (the "Project") located in southeastern British Columbia within the prolific Slocan/Nelson mining camp. Hi Ho owns 100% interest in the Property with no underlying royalties, agreements or further consideration due with respect to the Property.

The 2008 Exploration Program consists of prospecting, soil and rock sampling, geological mapping, trenching, opening up old workings, access road/trail construction, metallurgical work, shallow drilling and bulk sampling. Phase I of this program (access and sampling) commenced in early July and is well underway. Phase II will consist mainly of mechanical trenching and drilling and is scheduled to commence September 2008. The program is being supervised by James Thom, M.Sc. and Duncan J. Bain, M.Sc., P.Geo. who bring a wealth of advanced geological expertise to the project.

To date, Phase I of the program has successfully completed access trails to the California, Marble Arch and Big Ben Workings and has located and flagged historic trail pack trails leading to the Keno, BL Adit Zone and Helen Workings, as well as, to the Evening Star and Bodacia Workings. The collection of approximately 2,000 soil and 100 rock samples is well underway. In addition, debris has been cleared from the portal (entrance) to the Helen Workings. Detailed mapping and sampling of the 366m (1,200 feet) of underground workings reported at the Helen Showing will commence shortly.

The Silver Tip Property presently covers 2,600 hectares (26km2) and is located in the Kaslo area of British Columbia within the northeast section of the historic Slocan Silver Camp where more than 75 million ounces of silver have been produced between 1892 and 1993. The Property presently hosts eight high-grade mineral showings, six of which have reported past production. During Hi Ho's summer/fall program last year soil/rock samples collected returned values of 50 02/ton silver, 20% lead and almost 9% zinc. Theses zones will be further explored and prepared for shallow drilling.

Fred Fisher, President and CEO states "that we have always believed the Silver Tip/Patch property to be highly under explored and this years 4 month program should be a property defining season for the project, we plan to be drilling by early to mid September, anywhere from 6 to 10 shallow holes. The property has consistently returned high grade soil and rock samples which make it a highly prospective project for drilling".

Klondike Silver, among others are actively exploring within the Slocan Mining camp and have reported the location of newly discovered mineral showings utilizing modern exploration techniques, (primarily soil geochemical surveys/soil sampling). Klondike also has an operating mill in the area, and recently announced it had received its first shipment of ore for processing.

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

HI HO SILVER RESOURCES INC.

Fred Fisher, President/CEO

All prospective and current shareholders of Hi Ho Silver Resources are invited to join the company's official investment forum exclusively at PinnacleDigest.com: http://www.pinnacledigest.com/company/hiho:ca. The forum allows for investor controlled discussion with progressive feedback from other shareholders and investors. Third party reports on the company are also available at www.PinnacleDigest.com.

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.

Contact Information

  • Hi Ho Silver Resources Inc.
    Fred Fisher
    President/CEO
    (905) 602-4653
    or
    Hi Ho Silver Resources Inc.
    Isabel Alves and/or Paul Venning
    Investor Relations
    (905) 602-4653
    (905) 602-4656 (FAX)
    Email: info@hhsr.ca
    Website: www.hhsr.ca