SNS Silver Corp.
TSX VENTURE : SNS

SNS Silver Corp.

November 13, 2007 11:52 ET

SNS Silver Drills 555 g/t Ag (16.2 opt) Over 7.42 feet (2.26 meters) in Newly Discovered Vein

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2007) - SNS Silver Corp. (TSX VENTURE:SNS) ("SNS") announces results from recent diamond drill hole SNS-705, which intercepted the historic Alhambra vein and also intercepted a previously unknown vein, 13.1 feet (4.0 metres) in the hanging wall of the Alhambra structure. The newly discovered hanging wall vein assayed 16.2 oz/t (555 g/t) of silver across an estimated true width of 4.95 feet (1.51 metres), while the targeted Alhambra vein averaged 11.4 oz/t (392 g/t) across an estimated true width of 6.01 feet (1.83 m).

The SNS-705 intercepts are 160 feet (49 metres) west and approximately 200 feet (61 metres) below the previously announced SNS-205a result, which recorded 5.0 feet (1.5 metres) of 13 oz/t (440 g/t). The Alhambra intercept of SNS-705 is also 350 feet (107 metres) east of the previously announced SNS-502, which recorded 5.0 feet (1.5 metres) of 42 opt (1,470 g/t)(i). The new intercepts of SNS-705 are located approximately 1,140 feet (347 m) above the Hooper Tunnel and 750 vertical feet (229 metres) below the surface.

The weighted averages identified above were obtained from assays and estimated true widths between footages 905.0 to 909.26, with a core length of 7.42 feet (2.26 metres) from the unknown vein. The Alhambra vein is between footage 925.5 to 935.0, with a core length of 9.5 feet (2.9 metres).

(i)In the August 29th 2007 news release, SNS-502 was misidentified as SNS-501.



SNS-705 Significant Intercepts:
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True
True Width Width Sil- Sil- Cop- Anti-
From To Width Width (met- (met- ver ver Gold per Lead mony
(feet) (feet) (feet)(feet) res) res) (g/t) (oz/t) (oz/t) (%) (%) ppm
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892.00 895.00 3.00 1.70 0.91 0.52 3 0.098 0.002 0.008 0.041 34.0
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895.00 899.20 4.20 2.30 1.28 0.70 0 0.010 0.002 0.001 0.013 13.2
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899.20 905.00 5.80 1.70 1.77 0.52 0 0.010 0.002 0.001 0.004 10.2
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905.00 907.33 2.33 1.50 0.71 0.46 106 3.09 0.002 0.192 0.004 368
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907.33 908.30 0.97 0.50 0.30 0.15 2465 71.9 0.020 3.520 0.180 9180
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908.30 909.26 0.96 0.60 0.29 0.18 713 20.8 0.002 0.848 0.012 2230
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909.26 910.49 1.23 1.00 0.37 0.30 600 17.5 0.004 2.140 0.008 2500
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910.49 912.42 1.93 1.35 0.59 0.41 29 0.838 0.002 0.040 0.009 109
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912.42 912.90 0.48 0.35 0.15 0.11 48 1.40 0.003 0.073 0.030 288
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912.90 915.00 2.10 1.20 0.64 0.37 0 0.010 0.002 0.013 0.012 47.6
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915.00 918.00 3.00 1.80 0.91 0.55 9 0.248 0.002 0.005 0.083 24.4
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918.00 920.00 2.00 1.60 0.61 0.49 4 0.108 0.002 0.002 0.074 14.2
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920.00 922.00 2.00 1.60 0.61 0.49 20 0.588 0.002 0.022 0.068 135
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922.00 925.50 3.50 1.70 1.07 0.52 52 1.52 0.003 0.054 0.013 268
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925.50 927.70 2.20 1.20 0.67 0.37 418 12.2 0.002 0.364 0.016 1830
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927.70 931.00 3.30 2.00 1.01 0.61 16 0.458 0.002 0.013 0.004 55.8
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931.00 932.20 1.20 0.85 0.37 0.26 131 3.81 0.005 0.074 0.006 422
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932.20 933.00 0.80 0.60 0.24 0.18 1368 39.9 0.003 0.784 0.110 4560
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933.00 933.60 0.60 0.46 0.18 0.14 507 14.8 0.004 0.259 0.085 1630
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933.60 934.15 0.55 0.50 0.17 0.15 521 15.2 0.003 0.264 0.113 1638
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934.15 935.00 0.85 0.40 0.26 0.12 1073 31.3 0.002 0.644 0.684 3680
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935.00 936.00 0.55 0.75 0.30 0.23 147 4.29 0.002 0.093 0.165 518
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936.00 936.85 0.85 0.65 0.26 0.20 23 0.678 0.002 0.018 0.019 91.4
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936.85 938.88 1.00 1.50 0.62 0.46 10 0.296 0.004 0.002 0.003 14.0
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Hole SNS-307 is currently being sampled and will be assayed with results to be released at a later date. Currently, SNS is awaiting assay results from veins drilled in holes SNS-306a, SNS-603, SNS-604 and SNS-704a.

Complete results for the 2007 surface drilling program will be released once all results become available in accordance with 43-101 mining standard guidelines. Updates to previously announced results resulting from additional wall rock sampling will be released when completed.

Underground Drilling About to Commence

The Company currently has one surface drill remaining which has begun its final hole of the 2007 surface drilling program. Once complete, this drill will then be immediately relocated underground to begin the 100,000 foot underground drilling program. A second underground drill is expected to be added within a few months, once the Company has completed preparing additional drill sites.

Mr. Norman A. Radford of Wallace, ID, who is a Registered Professional Geologist in the State of Idaho and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators, has visited the Crescent property and reviewed the new geologic and drill data and reviewed and approved this press release. Mr. Radford served for many years as primary mine geologist at the Crescent Mine under its previous owner, Bunker Hill Mining Company.

All the silver and gold samples are reported fire assay (FA). The copper, lead, and antimony results are reported by ICP (inductively coupled plasma). Assays were performed by American Analytical Services, Inc. of Osburn, Idaho, United States of America. The diamond drilling to date is NQ size and all assay results are within the parameters of the quality control standards in the SNS quality assurance program.

SNS confirms that it does not hold any asset-backed commercial paper. SNS total cash and cash equivalents of approximately $18 million are held in cash and guaranteed income certificates with no fixed maturity.

(TSX VENTURE:SNS) is an exploration mining company, whose primary asset is the 100% owned Crescent Mine located in Kellogg, Idaho - one of the largest silver districts in North America with over one billion ounces of silver produced. The property consists of 24 patented mining claims over approximately 350 acres, alongside 15 acres of surface rights. The Company currently has a comprehensive and well-funded drill program underway. Their main focus is on upper country surface drilling and underground drilling on the Alhambra and South Veins, as well as restoration of the Hooper Tunnel, drifting and cross-cutting.

Historical resource estimates quoted herein are based on data and reports obtained and prepared by previous operators. The Company has not completed the work necessary to independently verify the classification of the mineral resource estimates and is not treating the mineral resource estimates as National Instrument 43-101 defined resources verified by a qualified person. The historical estimates should not be relied upon. The Crescent Mine will require considerable further evaluation, which the Company's management and consultants are in the process of completing.

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.

Contact Information

  • SNS Silver Corp.
    David Greenway
    Vice President, Corporate Development
    (604) 689-0896 or Toll Free: 1-800-663-4567
    (604) 688-4933 (FAX)
    Email: dg@snssilver.com
    Website: www.snssilver.com