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

Hi Ho Silver Resources Inc.

April 16, 2008 09:24 ET

Hi Ho Announces Agreement with SCT Media

MISSISSAUGA, ONTARIO--(Marketwire - April 16, 2008) -

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

Hi Ho Silver Resources Inc. ("Hi Ho Silver" or "the Company")(CNQ:HIHO)(FRANKFURT:H9T) is pleased to announce it has entered into an agreement with SCT Media Ltd. of Austria to provide a wide range of investor relations and financial advisory services to the Company.

For a minimum of a six month period from the signing of the contract, SCT Media has agreed to provide an array of services which include: introducing the Company to national and international brokerage houses; assisting in obtaining future financings; facilitating the preparation and distribution of research reports; shareholder and investor communications services; assisting with public disclosure requirements; assisting in the liaison between the Company and various market makers, brokers, agents, and shareholders of the Company; as well as coordinating various advertising and other public relations programs for the Company.

As consideration for providing these services, SCT Media will be paid _500 per month and will be granted a non-transferable option to purchase a total of 250,000 common shares in the capital of the company at an exercise price of $0.60 per share. The Company has also agreed to cause one of its shareholders to sell, to an affiliate of SCT Media, a total of 500,000 free trading common shares in the company at a price of $ CDN 0.01 per share. To further facilitate this agreement, Fred Fisher, Hi Ho Silver's President & CEO, has agreed to cancel 200,000 options granted to him in June 7, 2007.

Currently the Company is continuing ongoing work on its Carmi project, in which it has an option to earn up to 70% interest from St. Elias Mines of Vancouver, B.C. The latest results are being compiled and will be incorporated into a National Instrument 43-101 report, which is expected to be completed by mid June, 2008.

Signed, HI HO SILVER RESOURCES INC.

Fred Fisher, President & C.E.O.

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.

The CNQ Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.

Contact Information

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