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

Hi Ho Silver Resources Inc.

April 19, 2007 11:47 ET

Hi Ho Silver Announces Complete Drill Results, Confirms New Mineralized Area

MISSISSAUGA, ONTARIO--(CCNMatthews - April 19, 2007) -

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

Hi Ho Silver Resources Inc. ("Hi Ho") (CNQ:HIHO)(FRANKFURT:H9T) is pleased to announce the final results from the recently completed diamond drilling program on the Carmi (Kettle River) Molybdenum Property (the "Property") located in south-western British Columbia. Hi Ho has an option to acquire up to 70% interest in the Property from St. Elias Mines Ltd.

Hi Ho completed an initial drilling program of eight holes totaling 1,821 metres designed to test chargeability anomalies developed from results of a recently-completed 3D-IP geophysical survey and to confirm grades reported from previous drilling.

Drill hole 07-192, completed March 2007 was reported on April 12, 2007. This hole twinned a previously completed, 1974 drill hole, 74-V-7 which returned 0.130% MoS2 over 94.59 metres (4.57 m to 96.04 m). Hole 07-192, drilled vertically to a depth of 189.28 metres, intersected the E Zone breccia almost continually from surface to 100 metres depth and returned 94.89m grading 0.106% MoS2 and 0.021 gpt Re from 4.57m to 99.46m.

Drill holes 07-193 through 07-196 were drilled to test a variety of geophysical features located between the E Zone and Lake Zone that had not been previously drill tested. These holes intersected highly anomalous MoS2 mineralization revealing a large, previously unknown, area of mineralization. All mineralized intercepts are reported in the following table. The discovery of this new mineralized area is considered very significant and will be a high priority target during the next phase of drilling.

Drill hole 07-197 twinned a previously completed 1980 drill hole, 80-005, which returned 0.091% MoS2 over 77.17 metres (111.28 m to 188.45 m) at the Lake Zone. Hole 07-197 was drilled to a depth of 252.07 metres and intersected the Lake Zone breccia at depth. The most significant intersection graded 0.071% MoS2 and 0.014 gpt Re over an interval of 78.00 metres (116.66 m to 194.66 m). Both drill holes are angle holes.

The first two holes (06-190 and 06-191), completed in December 2006, tested the Lake Zone. The results of these were reported on February 6, 2007 and are noted on the following table.

Fred Fisher President and CEO of HiHo Silver Inc. would like to emphasize that the presence of both MoS2 and Re between the E Zone and Lake Zone is considered of great importance to the further development of the overall potential and development of the Carmi property.

Results of geochemical analyses of all holes received to date are:



--------------------------------------------------------------------------
--------------------------------------------------------------------------
Hole ID From - m To - m Interval - m MoS2 - % Re - gpt
--------------------------------------------------------------------------
--------------------------------------------------------------------------
06-190 3.05 142.36 139.31 0.128 0.055
--------------------------------------------------------------------------
Including 3.05 16.82 13.77 0.268 0.122
--------------------------------------------------------------------------
Including 33.88 55.28 21.4 0.225 0.086
--------------------------------------------------------------------------
--------------------------------------------------------------------------
06-191 282.09 443.71 161.62 0.033 0.012
--------------------------------------------------------------------------
Including 388.8 443.71 54.91 0.057 0.015
--------------------------------------------------------------------------
Including 402.72 421.73 19.01 0.109 0.015
--------------------------------------------------------------------------
--------------------------------------------------------------------------
07-192 4.57 99.46 94.89 0.106 0.021
--------------------------------------------------------------------------
--------------------------------------------------------------------------
07-193 29.57 48.61 19.04 0.023 0.009
--------------------------------------------------------------------------
--------------------------------------------------------------------------
07-194 64.57 74.19 9.62 0.016 0.009
--------------------------------------------------------------------------
07-194 142.34 160.44 18.10 0.055 0.007
--------------------------------------------------------------------------
--------------------------------------------------------------------------
07-195 79.09 85.09 6.00 0.032 0.005
--------------------------------------------------------------------------
07-195 102.72 127.10 24.38 0.050 0.019
--------------------------------------------------------------------------
07-195 151.49 185.01 33.52 0.038 0.025
--------------------------------------------------------------------------
--------------------------------------------------------------------------
07-196 23.23 29.23 6.00 0.021 0.007
--------------------------------------------------------------------------
07-196 36.23 40.23 4.00 0.027 0.017
--------------------------------------------------------------------------
07-196 53.23 75.29 22.06 0.023 0.009
--------------------------------------------------------------------------
07-196 96.57 102.57 6.00 0.050 0.008
--------------------------------------------------------------------------
07-196 133.20 139.29 6.09 0.142 0.012
--------------------------------------------------------------------------
--------------------------------------------------------------------------
07-197 80.66 84.66 4.00 0.076 0.009
--------------------------------------------------------------------------
07.197 94.66 98.66 4.00 0.021 0.018
--------------------------------------------------------------------------
07-197 116.66 194.66 78.00 0.071 0.014
--------------------------------------------------------------------------
Including 134.66 152.66 18.00 0.171 0.027
--------------------------------------------------------------------------
--------------------------------------------------------------------------
(i) MoS2 x 0.5994 equals Mo


All drill core was logged, split and sampled at a secure core facility at Beaverdell. The work program at Carmi was designed and is supervised by Paul Reynolds, P. Geo. and Michael Sanguinetti, P. Eng. who are independent qualified persons under the definition of National Instrument 43-101. They are responsible for all aspects of the work including the quality control/quality assurance program. On-site personnel at the project collect and track samples which are then sealed and shipped to Acme Analytical Laboratories Ltd. in Vancouver. Acme's quality control system complies with the requirements for the international standards ISO 9001:2000. Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material is inserted at regular intervals into the sample sequence by on site personnel in order to independently assess analytical accuracy. Finally, blind duplicate samples are forwarded to Acme for additional quality control.

Paul Reynolds, P. Geo., is the qualified person who has reviewed this news release.

Further to the company's news release April 5, 2007 the company also announces that in connection with the company's recent financing it has paid a 10% finders fee totaling $4,950 to Andrew Goetz of Northern Securities Toronto office and 10% finders fee to Northern Vancouver office of $4,500.

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 and CEO
    (905) 602-4653
    or
    Hi Ho Silver Resources Inc.
    Isabel Alves
    Investor Relations
    (905) 602-4653
    Email: hihosilverinc@yahoo.ca
    Website: www.hhsr.ca