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

Hi Ho Silver Resources Inc.

July 18, 2007 11:00 ET

Hi Ho Silver Resources Inc.: Carmi Property Update

MISSISSAUGA, ONTARIO--(Marketwire - July 18, 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 report on the status of the 2007 summer exploration program on the Carmi (Kettle River) Molybdenum Property (the "Property") located in south-western British Columbia. A diamond drill program is underway and is currently on the sixth hole. In addition, a geophysical crew is conducting a 3D induced polarization survey over a portion of the property. Hi Ho has an option to acquire up to 70% interest in the Property from St. Elias Mines Ltd.

Initially, drilling is being concentrated on the E Zone. Hi Ho's objective is to expand the mineralized zone and confirm grades previously reported. Hi Ho has previously completed an initial drilling program of eight holes totalling 1,821 metres. This program was successful in confirming grades from previous drilling and confirming a large, previously unknown area of potential mineralization discovered by geophysics. This area will be followed up by geological mapping, trenching and diamond drilling later this summer.

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

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