SNS Silver Corp.
TSX VENTURE : SNS

SNS Silver Corp.

January 21, 2010 09:15 ET

SNS Silver Intercepts Wide Spread Mineralization in First Three Holes at Emerald Lake Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2010) - SNS Silver Corporation ("SNS" or the "Company") (TSX VENTURE:SNS) is pleased to announce the completion of 603 meters of drilling in three holes at the first drill site at the Emerald Lake gold project in Ontario, Canada. This drilling is the first phase within a planned and ongoing 3,700 meter drill program. The drill has moved to the second drill site and drilling has re-commenced. All drill holes have intercepted the targeted mineralization at depth and along strike to the east of historic mining, with several holes terminating in mineralization at depth. This has served to validate the historic knowledge of the Emerald Lake deposit geology and structure. As well, the recently completed geophysical work done as a precursor to the drill program, suggests that the mineralized structure may continue for many hundreds of metres to the east where little or no exploration drilling has been completed yet.

The first core will be split and sent out for assays immediately, and we will anxiously await the assay results approximately five weeks later. This will be an ongoing process over the course of the next couple of months as the drilling is planned to be completed in the first half of March. The plan calls for drilling a fan of three holes on each of 4 distinct drill pad locations followed by targeted drilling of geophysical anomalies to the east. The entirety of the drill results should be completed and in-house by the end of April.

The statistics on the first three holes are as follows in the table. As stated earlier all three holes encountered the expected mineralization and assay results will follow in 5-6 weeks. These holes were drilled utilizing NQ2 (2") core with the drill rig oriented due south. The drill rig has been moved to the second drill pad location which is located approximately 15 meters (50 feet) west of the first drill pad.

  North East Azimuth Dip Length
Drillhole # (m) (m) (deg) (deg) (m)/(ft)
           
GR09-07 5197440 551900 180 -45 135/444
           
GR09-08 5197440 551900 180 -60 182.5/599
           
GR09-09 5197440 551900 180 -75 286/938
           

This 3,700 meter first drill phase will be followed by a second 6,300 meter phase later this year. Once the results have been received and digested, the geologic team will determine the best drill placement for the second phase, which may well be from the underground workings.

President and CEO, David Greenway, commented on the results to date, "We are extremely pleased with the initial results of this program. We have encountered extensive mineralization in all holes and we anxiously await the assays. This should prove to be a very exciting year for SNS at both Emerald Lake and the Crescent Mine with development advancing in the capable hands of United Mine Services."

Historical information on the Emerald Lake project, derived from the records of Noramco Mining Corp., indicates that in 1986, the property is reported to have hosted a global geological resource of 617,000 ounces gold contained within 2.4 million tonnes (grading 0.26 ounce per ton). The resource is considered historical in nature and as such is based on prior data and reports prepared by previous operators, not defined as required by NI 43-101. The work necessary to reclassify the resource has not been completed and the resource estimates therefore cannot be treated as NI 43-101-defined resources verified by a qualified person. This resource should not be relied upon, and there can be no assurance that any of the resources, in whole or in part, will ever become economically viable.

The deepest intercept recorded on the property cut 84 feet of 14 grams per tonne gold below 1,000 feet vertically, with many other high-grade drill intersections (0.25 ounce to 0.35 ounce per ton) located between the 600-foot elevation and the lowest elevation level at 1,000 feet.

The property is developed by five levels off of a vertical shaft to 750 feet, and two levels off of an inclined winze to 1,000 feet. All of the past production took place above 700 foot elevation. Ramp development reaches to about 800 feet vertically providing good access to evaluate the high-grade areas.

Only a 1,600-foot length of a four-mile structure has been extensively explored, and with high-grade known below the 1,000-foot level at the east end of the developed areas.

The strategic plan moving forward will be to confirm, delineate and expand the mineral resource by initiating a surface drill program followed by dewatering and rehabilitation of the existing ramp that will allow for underground drilling. SNS will then commence an extensive program to test the unexplored targets of the Emerald Lake property.

We Seek Safe Harbor

SNS Silver Corporation (TSX VENTURE:SNS) is an exploration mining company, whose assets include a number of near term production projects in geopolitically secure Idaho, USA. The 100% owned Crescent Mine consists of 24 patented mining claims over approximately 350 acres. These adjacent properties operated independently to produce nearly 400 million ozs of silver historically and their recent merger is expected to enhance exploration opportunities on their once disputed boundary.

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

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