Silverstone Resources Corp.
TSX VENTURE : SST

Silverstone Resources Corp.

October 10, 2007 18:59 ET

Silverstone Provides Three Year Silver Sales Forecast

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2007) - Silverstone Resources Corp. ("Silverstone") (TSX VENTURE:SST) is pleased to announce that The National Instrument 43-101 compliant technical reports prepared by Wardell Armstrong International, for Silverstone titled Technical Report on the Neves-Corvo Mine, Southern Portugal dated October 2007, and Technical Report on the Aljustrel Mine, Southern Portugal dated October 2007 have been filed on www.sedar.com.

The acquisition of the Neves-Corvo and Aljustrel silver, together with the existing silver purchase agreement with Capstone Mining's Cozamin mine (for further information see the Cozamin Mine technical report dated February 23, 2007 filed on www.sedar.com) allows Silverstone to forecast the following silver sales as outlined in the table below:



Silver Sales Forecast

-----------------------------------------------------------
2007(1) 2008 2009
-----------------------------------------------------------
Ag (oz) Ag (oz) Ag (oz)
-----------------------------------------------------------

-----------------------------------------------------------
Cozamin(2) 565,000 1,113,000 1,106,000
-----------------------------------------------------------
Neves-Corvo Copper(3) 135,000 576,000 578,000
-----------------------------------------------------------
Neves-Corvo Zinc(3) 0 0 184,000
-----------------------------------------------------------
Aljustrel Zinc(4) 0 375,000 1,060,000
-----------------------------------------------------------

-----------------------------------------------------------
Total 700,000 2,064,000 2,928,000
-----------------------------------------------------------

(1) Partial year of silver contracts
(2) Cozamin's silver production forecast is based on forecast
production from its 43-101 report, with silver recovery to
copper concentrate estimated at 56%, with 91.7% of this silver
paid by the smelter, and silver recovery to the lead concentrate
estimated at 16% with 95% of this silver paid by the smelter. The
Qualified person for the Cozamin forecast is Mr. Hugh Willson,
P.Geo., Vice President Exploration of Silverstone.
(3) Forecasts for Neves-Corvo silver production are based on the
10 year mine plan, presented in the 43-101 report. Recovery of
silver from Neves-Corvo copper ore to concentrate is estimated
at 35%, with 80% of this silver paid by the smelter. Silver recovery
from Neves-Corvo zinc ores which commences production in 2009 is based
on a silver recovery to a lead concentrate of 23% with 95% of this
silver paid by the smelter. The Qualified person for the Neves-Corvo
forecast is Mark L. Owen, Associate Director and Principal Geologist
of Wardell Armstrong International.
(4) Forecasts for Aljustrel silver production are based on the 10 year
mine plan presented in the 43-101 report on Aljustrel. Recovery of
silver to a lead concentrate is estimated at 37.1%, with 95% of
this silver paid by the smelter. The Qualified person for the
Aljustrel forecast is Mark L. Owen, Associate Director and
Principal Geologist of Wardell Armstrong International.


The following tables set forth the Silverstone updated estimated Proven and Probable Reserves and the Mineral Resources for the Neves-Corvo and Aljustrel Mines as of December 31, 2006. There are no changes to the tables as stated in the September 17, 2007 press release except for clarification as to the basis of estimating the resources and reserves.

Current Proven and Probable Reserves for the Neves-Corvo mine are tabulated below:



Proven and Probable Mineral Reserves(1)
--------------------------------------------------------------------------
Contained
Reserves Tonnes Copper Zinc Silver Ounces
Mine Zone Category (M) % % g/t (M)
--------------------------------------------------------------------------
Neves-Corvo Copper Proven 6.23 5.17 1.15 36.3 7.3
--------------------------------------------------------------------------
Probable 11.01 4.74 0.68 28.8 10.2
--------------------------------------------------------------------------
Proven +
Probable 17.24 4.89 0.85 31.5 17.5
--------------------------------------------------------------------------
Neves-Corvo Zinc Proven 0.14 0.29 6.36 35.8 0.2
--------------------------------------------------------------------------
Probable 10.78 0.43 7.89 62.3 21.6
--------------------------------------------------------------------------
Proven +
Probable 10.92 0.43 7.87 62.0 21.8
--------------------------------------------------------------------------

(1) Reserves for the Neves-Corvo mine are estimated using cut off grades
of 5.58% zinc and 1.91% copper. The reserves are calculated by the
mine's geologists and audited by Wardell Armstrong International (WAI).
The Qualified Person for the 2006 Reserve estimate is WAI personnel
Mark L. Owen, Associate Director and Principal Geologist, assisted by
David Chilcott, Associate to WAI, and Senior Mining Engineer. The
reserves are based on an effective mining width of 5 meters. Cut off
grade is established by calculating the net sales value per percent
metal considering mining and geological factors, and actual operating
costs (43 Euro/tonne), development costs and royalties. Reserves in the
copper zone are based on the value of copper only, and reserves in the
zinc zone are based on the value of zinc only. The reserves were
estimated as of December 31st, 2006. There are no known environmental,
permitting, title, marketing etc issues which are expected to
materially impact the estimate of reserves.


Current Proven and Probable reserves for the Aljustrel mine are tabulated below:



Proven and Probable Mineral Reserves (2)
--------------------------------------------------------------------------
Contained
Reserves Tonnes Copper Zinc Silver Ounces
Mine Zone Category (M) % % g/t (M)
--------------------------------------------------------------------------
Aljustrel Zinc Proven 0 0 0 0 0
--------------------------------------------------------------------------
Probable 14.4 0.27 5.49 62.6 29
--------------------------------------------------------------------------
Proven +
Probable 14.4 0.27 5.49 62.6 29
--------------------------------------------------------------------------
Aljustrel Copper Proven 0 0 0 0 0
--------------------------------------------------------------------------
Probable 1.6 2.16 0.97 14.3 0.7
--------------------------------------------------------------------------
Proven +
Probable 1.6 2.16 0.97 14.3 0.7
--------------------------------------------------------------------------

(2) The 2006 Aljustrel zinc Mineral Reserves are estimated using cut-off
grades of 4.5% zinc and 4.0% zinc for the Feitais and Moinho deposits
respectively. The copper mineral reserves are estimated using a 1.5%
copper cut-off. Reserves are based on a calculated net sales value per
tonne taking into account mining and geological factors including
dilution and development, estimated operating costs of 25 Euros, and
metallurgical recovery to derive a net sales value per percent.
Reserves are calculated based on copper values only for copper ore
and zinc values only for zinc ore. The reserves were calculated by SRK
and audited by Wardell Armstrong International (WAI). The Qualified
Person for the 2006 reserves and resources is Mark L. Owen, Associate
Director and Principal Geologist, assisted by David Chilcott,
Associate to WAI, and Senior Mining Engineer. The reserves are as of
December 31st, 2006. There are no known environmental, permitting,
title, marketing etc issues which are expected to materially impact
the estimate of reserves.


The Measured, Indicated and Inferred mineral resources are presented below and include the mineral reserves tabulated above:



Measured and Indicated and Inferred Resources (3,4)
--------------------------------------------------------------------------
Contained
Tonnes Copper Zinc Silver Ounces
Mine Zone Category (M) % % g/t (M)
--------------------------------------------------------------------------
Neves-Corvo(3) Copper Measured 6.59 6.1 1.5 52.5 11.1
--------------------------------------------------------------------------
Indicated 12.83 5.3 0.8 47.1 19.4
--------------------------------------------------------------------------
Measured &
Indicated 19.42 5.6 1.0 48.9 30.6
--------------------------------------------------------------------------
Inferred 3.00 4.5 0.8 72.9 7.0
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Zinc Measured 1.2 0.4 4.9 43.0 1.7
--------------------------------------------------------------------------
Indicated 29.4 0.6 6.2 60.3 57.1
--------------------------------------------------------------------------
Measured &
Indicated 30.7 0.6 6.2 59.6 58.8
--------------------------------------------------------------------------
Inferred 25.5 0.6 5.5 55.1 45.2
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Aljustrel(4) Zinc Measured 2.58 0.3 5.2 52.2 4.3
--------------------------------------------------------------------------
Indicated 21.00 0.2 5.7 61.8 41.8
--------------------------------------------------------------------------
Measured &
Indicated 23.58 0.2 5.7 60.8 46.1
--------------------------------------------------------------------------
Inferred 9.32 0.3 5.3 51.2 15.3
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Copper Measured 0.26 1.8 1.3 20.3 0.2
--------------------------------------------------------------------------
Indicated 6.66 2.1 1.1 17.1 3.7
--------------------------------------------------------------------------
Measured &
Indicated 6.92 2.1 1.1 17.2 3.9
--------------------------------------------------------------------------
Inferred 1.99 2.1 0.8 11.7 0.7
--------------------------------------------------------------------------

(3) Resources for Neves-Corvo Copper zones are reported at cut off grades
of 2.0% copper for the copper zone, and 3.3% zinc for the zinc zone.
Three dimensional modeling methods and parameters were used in
accordance with principles accepted in Canada. Geological models were
created using drill hole and underground data. Statistical and grade
continuity analyses were completed to characterize the mineralization
and subsequently used to develop grade interpolation parameters.
Vulcan and Gemcom (Lombador and Corvo / Lombador Bridge only) mining
software's were used to establish 3D block models and subsequent grade
estimates. Ordinary Kriging method of interpolation was used to
estimate block grades. Density block models were created by Ordinary
Kriging of density measurements for all orebodies except Lombador and
Lombador / Corvo Bridge where the Nearest Neighbor method of
assignment was used. Resources were classified according to the
distance from closest sample point, with measured resources being
less than or equal to 17.5 meters from a sample point, indicated
resources being between 17.5 to 35 meters from a sample point,
and inferred resources being within 35 to 70 meters from a sample
point. The resources are calculated by the mine's geologists and
audited by Wardell Armstrong International (WAI).

The Qualified Person for the 2006 resources estimates is WAI personnel
Mark L. Owen, Associate Director and Principal Geologist, assisted by
David Chilcott, Associate of WAI, and Senior Mining Engineer. The
resources were estimated as of December 31st, 2006.

(4) The 2006 Aljustrel zinc Resources are reported at cut-off grades
of 4.5% zinc, 4.0% zinc and 4.0% zinc for the Feitais, Moinho, and
Estacao deposits respectively. The copper mineral resources are
reported at a 1.5% copper cut-off. Three dimensional modeling methods
and parameters were used in accordance with principles accepted in
Canada. Geological models were created using drill hole and
underground data. Statistical and grade continuity analyses were
completed to characterize the mineralization and subsequently used
to develop grade interpolation parameters. Gemcom mining software was
used to establish a 3D block models and subsequent grade estimates.
Ordinary Kriging was used to estimate block grades. Average bulk
densities were used to create density block models. Measured resources
have been defined as adjacent to existing stopes or within 15 meters
of a sample point, indicated resources are within 15 to 40 meters of
a sample point, and inferred resources are along the perimeters of
the deposit where drill density is usually greater than 40 meters
apart. The resources were estimated by SRK (Feitais), AMEC (Moinho)
and Lundin Mining Corporation (Estacao) and audited by Wardell
Armstrong International (WAI). The Qualified Person for the 2006
reserves and resources is Mark L. Owen, Associate Director and
Principal Geologist, assisted by David Chilcott, Associate to WAI,
and Senior Mining Engineer. The resources are as of December 31st,
2006.


Mr. Hugh Willson, P.Geo., Vice-President, Exploration of Silverstone, who is a "qualified person" under National Instrument 43-101, has reviewed and approved the technical aspects of this news release.

ABOUT SILVERSTONE

Silverstone is a Canadian based public silver mining company with 100% of its revenue from silver production. More information is available online at: www.silverstonecorp.com.

This press release contains "forward-looking information" that is based on Silverstone's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Silverstone's mineral discoveries, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Silverstone's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: projected sales or production rates; uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Silverstone disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange has neither approved or disapproved of the contents herein.

Contact Information