VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 8, 2012) - Huldra Silver Inc. (TSX VENTURE:HDA) (the "Company" or "Huldra") today provides a further update on the 10,000 tonne underground bulk sample program at its 100% owned Treasure Mountain Property. Underground chip sample results have been received from the first five lifts of the stope. The average grade of the samples over the mined width are 994.5 g/tonne Ag, 5.84% Zn, 3.4% Mn, 7.55% Pb. The following table provides a complete list of all 30 samples received to date:
| Sample | Width | Ag | Zn | Mn | Pb |
| ID # | metres | g/t | % | % | % |
| P1-L1-1 | 1.5 | 857.0 | 4.32 | 1.41 | 9.80 |
| P1-L1-2 | 1.5 | 885.2 | 5.19 | 4.59 | 10.33 |
| P1-L1-3 | 1.5 | 2361.4 | 12.48 | 2.83 | 15.06 |
| P1-L1-4 | 1.5 | 1069.0 | 12.57 | 3.51 | 8.56 |
| P1-L1-5 | 1.5 | 783.5 | 8.52 | 4.45 | 6.06 |
| P1-L1-6 | 1.5 | 410.1 | 3.32 | 3.35 | 2.84 |
| P1-L1-7 | 1.5 | 199.0 | 10.75 | 3.92 | 1.11 |
| P1-L1-8 | 1.5 | 810.5 | 3.70 | 5.48 | 4.38 |
| P1-L1-9 | 1.5 | 488.8 | 2.08 | 3.66 | 1.14 |
| P1-L3-1 | 1.54 | 1194.4 | 6.29 | 3.07 | 6.87 |
| P1-L3-2 | 1.59 | 1966.7 | 5.01 | 1.49 | 18.86 |
| P1-L3-3 | 1.5 | 631.5 | 5.03 | 3.49 | 5.02 |
| P1-L2-8 | 1.82 | 628.2 | 2.39 | 2.53 | 24.11 |
| P1-L2-7 | 1.61 | 1737.4 | 21.50 | 3.74 | 0.65 |
| P1-L2-6 | 1.3 | 170.6 | 1.01 | 3.03 | 2.62 |
| P1-L2-5 | 1.71 | 517.1 | 3.56 | 2.68 | 1.72 |
| P1-L2-1 | 1.77 | 133.1 | 1.54 | 1.67 | 0.21 |
| P1-L2-2 | 1.8 | 34.8 | 0.59 | 1.87 | 0.07 |
| P1-L2-3 | 1.2 | 2178.6 | 8.33 | 2.36 | 14.42 |
| P1-L2-4 | 1.4 | 2112.5 | 8.81 | 1.40 | 8.81 |
| P1-L5-1 | 1.87 | 1131.3 | 5.34 | 3.94 | 11.99 |
| P1-L5-2 | 1.66 | 1137.6 | 6.97 | 4.86 | 10.74 |
| P1-L5-3 | 1.59 | 1023.7 | 2.04 | 7.03 | 11.62 |
| P1-L5-4 | 1.83 | 1801.2 | 2.30 | 8.41 | 19.81 |
| P1-L5-5 | 1.38 | 1495.4 | 14.15 | 5.86 | 10.51 |
| P1-L5-6 | 1.36 | 1579.8 | 7.08 | 4.34 | 10.09 |
| P1-L5-8 | 1.58 | 444.5 | 2.80 | 2.07 | 0.81 |
| P1-L5-9 | 1.44 | 174.9 | 0.30 | 1.95 | 0.17 |
| P1-L5-10 | 1.71 | 244.0 | 2.55 | 1.55 | 0.22 |
| P1-L5-11 | 1.71 | 1633.2 | 4.62 | 1.69 | 8.05 |
| Average | 1.56 | 994.5 | 5.84 | 3.41 | 7.55 |
Note: The samples are taken on 5 metre intervals across the full width of the underground stope. The 9 samples from the first level of the stope (P1-L1-1 to P1-L1-9) are an estimated average width as the actual samples included dilution from both hanging wall and footwall material. The samples are for estimated mining grade purposes only. The actual grade of the material will be determined during processing of the material.
The 10,000 tonne underground bulk sample commenced in November, 2011 and has currently been mined over a length of 75 metres and a height of 21 metres, with an average width of 1.5 metres. Material removed is currently being stockpiled at the Company's mill site in Merritt, BC.
Ryan Sharp, CEO, states, "We are extremely pleased with these results. This information is being used to plan further development of the underground mine and exceeds our expectations."
All samples are delivered by truck to Acme Analytical Laboratories' facility in Vancouver, BC, where the sample is crushed, split and pulverized to -200 mesh. A 0.5 gram portion of the pulp is then digested in hot aqua regia and analyzed for 31 elements by ICP MS method. Over limits for Ag is by fire assay with gravimetric finish, and for Pb, Zn and Mn by multi-acid digestion and ICP ES finish.
Technical information in this news release has been reviewed and approved by Al Beaton, P.Eng., a Qualified Person as defined in NI 43-101. For more information see the Company's technical report entitled "Technical Report, Project Update, Treasure Mountain Property" dated June 15, 2011, available on SEDAR at www.sedar.com.
On behalf of the Board of Directors
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events related to the Company's proposed exploration plans and its plans to put the Treasure Mountain Property into production. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the Company's ability to finance its planned exploration; the Company's ability to source the necessary infrastructure to effect its exploration plans; current economic conditions and the state of mineral exploration and mineral prices in general. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. The Company can offer no assurance that its exploration and development plans will be completed in the time expected or at all. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Contact Information:
Ryan Sharp, MBA
President, CEO & Director
604-647-0142
604-647-0143 (FAX)
ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com