SNS Silver Corp.
TSX VENTURE : SNS

SNS Silver Corp.

June 18, 2009 12:04 ET

SNS Silver (SNS) and Premium Exploration (PEM) Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2009) - SNS Silver Corporation ("SNS" or the "Company") (TSX VENTURE:SNS) continues to work with Premium Exploration Inc. (TSX VENTURE:PEM) ("Premium") to jointly develop and explore two Central Idaho Gold Projects, Buffalo Gulch and Friday/Petsite. The Letter of Intent (LOI) allows SNS to earn in to a maximum of 50% by advancing financing and paying certain exploration and development costs to help advance Premium's Friday/Petsite and Buffalo Gulch properties. SNS initially paid PEM CDN $125,000 on each LOI.

The parties have been delayed on the signing of the Definitive Agreement due to SNS' focus on the Silver Valley. The final consideration will include a transfer of SNS stock along with ongoing financing as scheduled in the agreements signed for each project.

"I would like to assure all parties that SNS will be focusing on the completion of the agreement following management's court appearance on July 23 regarding the Sunshine Mine lease. In the interim, it should be noted that PEM has commenced with an exploration and development program and both companies remain extremely optimistic on the net benefits this will create for our shareholders, the state of Idaho and the mine workers in the district. SNS is focused and committed to development and production as we continue to advance the company towards a positive cash flow position," stated President David Greenway.

About the Idaho Gold Properties on the Orogrande Shear Zone

The Orogrande Shear Zone is a 28 km high-grade mineralizing conduit and potential feeder system hosting over 681,000 oz of known gold to date. Utilizing a new model based on the high-grade gold mineralization hosted in the geology of the Shear Zone, Premium's geologists are the first to interpret the numerous gold resources and targets along the Shear Zone as being the result of a potential high-grade feeder model.

The most northern property on the Orogrande Shear Zone, Buffalo Gulch, is currently being permitted for production. The property is an open-pit heap leach project with 100,000 oz Au (Non 43-101). Projected production on this project is 25,000 oz Au/year - 35,000 oz Au/year.

Premium's Friday-Petsite property is a 531,890 Au oz Inferred Resource (NI 43-101) on the southern-end of the Shear Zone and is open along strike and at depth. The property also hosts historic high-grade drill results, which support the potential high-grade conduit theory.

Historic high-grade HQ drilling by Cypress-Amax and Kinross Gold Corp.

- Core Hole PC008: 7.33 g/t gold over 16.7 meters including

-- 52.05 g/t gold over 1.6 meters

- Core Hole PC010: 4.58 g/t gold over 68.6 meters including

-- 12.11 g/t gold over 19.8 meters

-- 75.09 g/t gold over 1.5 meters

- Visible gold identified in PC002 and PC010

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. A comprehensive drill and mine rehabilitation program was completed in 2008 and production will supplement the company's operations at its recently acquired Sunshine Mine. 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. SNS also benefits from a partnership arrangement with Premium Exploration Ltd. to jointly develop two near term gold production projects in central Idaho; Buffalo Gulch and Friday/Petsite.

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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