Huldra Silver Provides Underground Sample Results for Treasure Mountain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2012) - Huldra Silver Inc. (TSX VENTURE:HDA) (the "Company" or "Huldra") is pleased to announce sample results from the underground exploration and resource definition program on its 100% owned Treasure Mountain Property. All of the samples presented are from the Level 1 drift and raises extending 55m to the surface. The mine is developed on 4 levels over a vertical height of 295m following the vein down dip.

The Company is currently sampling the Level 2 drift and the raises between Level 2 and 1, including the sub-drifts. Results from those samples will be released when received. The results from the underground sampling program will be used in conjunction with previously released surface drill results in planning mine development and preparing an updated NI-43-101 compliant resource estimate. The Company expects to commence an underground drilling program in the near future for further exploration and definition of vein structures below level 2.

The following tables are the underground chip sampling results from the Level 1 Drift and Raises on the Treasure Mountain Mine. The samples were taken at 5m intervals throughout the drift and raises. Each set of three samples (i.e. P1C1-1, P1C1-2, P1C1-3) represent one sample location at each 5m interval. Each sample location includes footwall rock, vein and hangingwall rock.

• Footwall rock samples assays were received up to 3380 g/tonne Ag (98.5 OZ/ton Ag), 3.96 %Pb, 3.74%Zn, and 3.89% Mn over 1.9m.
• Vein sample assays were up to 5097 g/tonne Ag (148.6 OZ/ton Ag), 36.76%Pb, 5.31% Zn, and 6.45% Mn over .6m.

TABLE 1: LEVEL ONE DRIFT
Sample ID	Width m	Ag g/tonne	Ag OZ/ton	Pb %	Zn %	Mn %
P1C1-1	1	0.7	0.0	0	0.03	0.09
P1C1-2	0.82	94.5	2.8	1.06	3.73	7.65
P1C1-3	1.27	74.9	2.2	1.08	1.53	2.08
P1C2-1	1	5.1	0.1	0.09	0.15	1.70
P1C2-2	0.61	1125.0	32.8	23.12	7.75	2.06
P1C2-3	1.4	73.3	2.1	0.97	3.98	11.72
P1C3-1	1.47	31.6	0.9	0.18	1.54	6.21
P1C3-2	0.43	5.6	0.2	0.07	0.34	1.69
P1C3-3	1.12	3.1	0.1	0.02	0.11	0.50
P1C4-1	2.57	58.0	1.7	0.29	3.92	1.54
P1C4-2	0.32	7.3	0.2	0.06	3.08	5.00
P1C4-3	1.97	3.1	0.1	0.05	0.45	1.80
P1C5-1	1.26	214.0	6.2	1.33	12.54	3.51
P1C5-2	0.36	11.4	0.3	0.10	1.46	5.69
P1C5-3	1.6	6.0	0.2	0.02	0.15	0.74
P1C6-1	1.34	329.0	9.6	6.89	0.59	2.10
P1C6-2	0.4	953.0	27.8	6.05	20.77	3.33
P1C6-3	1.67	4.1	0.1	0.06	0.14	0.92
P1C7-1	1.12	1018.0	29.7	6.93	11.18	1.99
P1C7-2	0.42	69.4	2.0	0.14	10.72	6.71
P1C7-3	1.4	5.6	0.2	0.04	0.11	1.65
P1C8-1	1.25	0.9	0.0	0.01	0.03	0.54
P1C8-2	0.3	16.5	0.5	0.22	0.35	3.74
P1C8-3	1.95	2.6	0.1	0.04	0.12	2.20
P1C9-1	1.53	60.6	1.8	0.97	1.18	0.54
P1C9-2	0.32	6.0	0.2	0.09	0.29	1.49
P1C9-3	1.47	6.7	0.2	0.16	0.13	2.91
P1C10-1	4.8	172.0	5.0	1.53	8.07	3.66
P1C10-2	0.35	2504.0	73.0	9.74	27.30	4.71
P1C10-3	1.38	26.5	0.8	0.19	0.23	1.09
P1C11-1	1.3	14.7	0.4	0.20	0.22	4.39
P1C11-2	0.69	887.0	25.9	5.87	13.56	8.61
P1C11-3	1.19	33.9	1.0	0.17	0.18	0.50
P1C12-1	2.06	399.0	11.6	2.32	14.34	6.28
P1C12-2	0.83	1191.0	34.7	10.32	15.79	5.78
P1C12-3	1.32	51.6	1.5	0.33	0.38	1.24
P1C13-1	2.3	128.0	3.7	0.71	3.94	6.07
P1C13-2	1	1052.0	30.7	5.25	11.22	5.71
P1C13-3	1.34	23.2	0.7	0.18	0.32	3.42
P1C14-1	1.73	40.1	1.2	0.23	0.21	2.84
P1C14-2	1.23	1472.0	42.9	16.78	6.68	2.80
P1C14-3	1.45	3.5	0.1	0.04	0.07	0.87
P1C15-1	1.8	14.0	0.4	0.11	0.13	1.48
P1C15-2	0.87	825.0	24.1	6.48	3.26	3.86
P1C15-3	1.68	13.5	0.4	0.05	0.07	1.93
P1C16-1	1.47	8.8	0.3	0.06	0.09	1.52
P1C16-2	0.41	1557.0	45.4	15.97	8.71	2.89
P1C16-3	2	5.6	0.2	0.04	0.07	0.73
P1C17-1	1.74	16.2	0.5	0.07	0.12	2.50
P1C17-2	0.38	40.4	1.2	0.08	0.13	2.62
P1C17-3	1.25	1.0	0.0	0.01	0.01	0.19
P1C18-1	1.04	5.5	0.2	0.06	0.06	0.95
P1C18-2	0.27	18.3	0.5	0.07	0.10	4.14
P1C18-3	1.58	3.0	0.1	0.03	0.02	0.34
P1C19-1	1.47	33.2	1.0	0.04	0.05	3.24
P1C19-2	0.33	584.0	17.0	4.59	1.25	5.79
P1C19-3	1.42	16.3	0.5	0.10	0.05	0.32
P1C20-1	1.33	65.3	1.9	0.10	0.66	8.71
P1C20-2	0.5	1371.0	40.0	18.55	2.42	3.02
P1C20-3	1.73	24.3	0.7	0.27	0.13	1.38
P1C21-1	1.14	66.1	1.9	0.44	0.20	9.79
P1C21-2	0.27	3473.0	101.3	28.32	18.73	2.05
P1C21-3	2.12	77.2	2.3	0.26	0.98	3.80
P1C22-1	1.85	41.5	1.2	0.27	0.47	4.08
P1C22-2	0.23	2641.0	77.0	19.61	7.40	3.82
P1C22-3	1.32	54.3	1.6	0.48	0.34	4.29
P1C23-1	1.7	40.4	1.2	0.39	0.18	1.28
P1C23-2	0.35	1961.0	57.2	18.34	0.80	3.58
P1C23-3	1.2	73.5	2.1	0.70	0.30	2.90
P1C24-1	2	4.9	0.1	<0.02	0.02	1.25
P1C24-2	0.3	352.0	10.3	0.61	3.59	9.52
P1C24-3	1.9	1.9	0.1	0.01	0.01	0.30
P1C25-1	1.9	2.9	0.1	0.02	0.04	0.72
P1C25-2	0.15	1343.0	39.2	3.77	11.55	2.01
P1C25-3	2.35	50.4	1.5	0.32	0.59	2.17
P1C26-1	1.35	50.1	1.5	0.19	0.23	1.92
P1C26-2	0.2	4255.0	124.1	30.86	10.19	3.12
P1C26-3	1.5	23.5	0.7	0.13	0.19	1.72
P1C27-1	1.4	26.1	0.8	0.10	0.07	0.48
P1C27-2	0.16	6091.0	177.6	39.58	12.06	0.96
P1C27-3	2.5	32.4	0.9	0.15	0.04	0.22
P1C28-1	1.55	20.0	0.6	0.09	0.08	1.32
P1C28-2	0.35	28.4	0.8	0.41	0.62	7.43
P1C28-3	2.9	129.0	3.8	1.26	0.49	2.25
P1C29-1	1.4	365.0	10.6	1.36	6.07	9.19
P1C29-2	0.45	4882.0	142.3	25.92	5.72	2.37
P1C29-3	2.2	58.1	1.7	0.32	0.17	1.68
P1C30-1	1.9	60.2	1.8	0.37	0.06	0.47
P1C30-2	0.27	8.5	0.2	0.08	0.21	3.33
P1C30-3	2.1	18.3	0.5	0.08	0.07	3.42
P1C31-1	1.9	3380.0	98.5	3.96	3.74	3.89
P1C31-2	0.25	3754.0	109.4	20.48	2.80	5.61
P1C31-3	2	50.0	1.5	0.24	0.21	0.56
P1C32-1	1.17	71.8	2.1	0.46	0.83	3.15
P1C32-2	0.6	1810.0	52.8	4.95	13.59	8.48
P1C32-3	1.77	494.0	14.4	1.15	3.30	8.33
P1C33-1	1.1	84.4	2.5	0.29	0.21	2.58
P1C33-2	0.6	5097.0	148.6	36.76	5.31	6.45
P1C33-3	1.6	110.0	3.2	0.19	1.95	6.16
P1C34-1	1.02	35.5	1.0	0.18	0.05	0.57
P1C34-2	0.76	371.0	10.8	8.09	2.58	8.67
P1C34-3	1.35	19.3	0.6	0.08	0.09	1.00
P1C35-1	1.4	24.7	0.7	0.17	0.25	3.02
P1C35-2	0.35	216.0	6.3	0.49	1.16	8.75
P1C35-3	0.9	13.5	0.4	0.07	0.02	0.36
P1C36-1	1.1	4.9	0.1	0.08	0.17	0.36
P1C36-2	0.4	3392.0	98.9	17.86	0.47	4.24
P1C36-3	1.2	4.7	0.1	0.03	0.02	0.62
P1C37-3	1.75	13.5	0.4	0.08	0.02	0.11
P1C38-3	1.96	2.1	0.1	0.02	0.01	0.08
P1C39-1	1	4.7	0.1	0.04	0.05	0.81
P1C40-1	1.43	461.0	13.4	2.14	3.66	1.48

TABLE 2: RAISE 1 of LEVEL ONE
Sample ID	Width m	Ag g/tonne	Ag OZ/ton	Pb %	Zn %	Mn %
P1R1-1-1	0.6	6.3	0.2	0.09	0.61	3.91
P1R1-1-2	0.4	1960.0	57.1	1.79	47.48	4.62
P1R1-1-3	0.9	155.0	4.5	0.10	4.41	3.15
P1R1-2-1	0.45	18.5	0.5	0.44	1.10	7.43
P1R1-2-2	0.22	3009.0	87.7	3.16	39.79	4.66
P1R1-2-3	0.46	39.0	1.1	0.41	1.15	6.39
P1R1-3-1	0.32	1.0	0.0	0.06	0.69	4.03
P1R1-3-2	0.2	1747.0	50.9	0.25	29.70	6.09
P1R1-3-3	0.5	59.3	1.7	0.15	1.28	2.78
P1R1-4-1	0.05	25.3	0.7	0.21	1.09	3.81
P1R1-4-2	0.4	412.0	12.0	1.71	14.73	8.89
P1R1-4-3	0.93	0.0	0.0	0.08	0.32	0.75
P1R1-5-1	0.7	14.6	0.4	0.10	0.38	1.70
P1R1-5-2	0.36	321.0	9.4	0.64	15.35	5.25
P1R1-5-3	0.05	18.8	0.5	0.12	0.38	2.42
P1R1-6-1	0.66	18.5	0.5	0.14	0.33	1.91
P1R1-6-2	0.25	2838.0	82.7	17.75	19.66	4.31
P1R1-6-3	0.3	22.5	0.7	0.07	0.24	2.25
P1R1-7-1	0.8	29.4	0.9	0.13	0.23	1.66
P1R1-7-2	0.2	1727.0	50.3	4.74	21.39	3.03
P1R1-7-3	0.3	43.2	1.3	0.26	0.51	3.68
P1R1-8-1	0.05	5.4	0.2	0.26	0.58	5.56
P1R1-8-2	0.8	710.0	20.7	5.01	7.95	5.69
P1R1-8-3	0.36	81.7	2.4	0.33	0.54	1.85
P1R1-9-1	0.05	59.3	1.7	0.29	0.58	3.25
P1R1-9-2	0.52	2166.0	63.1	11.72	17.27	3.39
P1R1-9-3	0.9	23.7	0.7	0.22	0.61	5.39

TABLE 3: RAISE 2 of LEVEL ONE
Sample ID	Width m	Ag g/tonne	Ag OZ/ton	Pb %	Zn %	Mn %
P1R2-1-1	1	5.7	0.2	0.01	0.05	0.57
P1R2-2-1	1.2	<0.1	0.0	0.17	0.73	7.77
P1R2-3-1	1.3	3.6	0.1	0.04	0.27	3.39
P1R2-4-1	1.3	1.5	0.0	0.04	0.27	4.10
P1R2-5-1	0.7	2.1	0.1	0.32	0.71	8.61
P1R2-6-1	0.55	16.0	0.5	0.22	1.27	4.88
P1R2-6-2	0.74	1342.0	39.1	0.33	31.07	5.13
P1R2-6-3	0.77	43.7	1.3	0.15	0.88	3.64
P1R2-7-1	0.49	234.0	6.8	0.06	3.10	6.28
P1R2-7-2	0.36	1499.0	43.7	0.22	23.88	7.90
P1R2-7-3	0.95	186.0	5.4	0.08	2.70	2.52
P1R2-8-3	1	29.9	0.9	0.01	0.32	0.41
P1R2-9-1	0.05	456.0	13.3	0.11	4.99	1.84
P1R2-9-2	0.2	2634.0	76.8	2.10	22.88	2.10
P1R2-9-3	1	13.1	0.4	0.03	0.21	0.70
P1R2-10-1	0.45	193.9	5.7	<0.02	0.44	9.14
P1R2-10-2	0.21	5393.0	157.2	1.61	29.50	4.55
P1R2-10-3	0.41	14.6	0.4	0.06	0.29	2.24

TABLE 4: RAISE 3 of LEVEL ONE
Sample ID	Width m	Ag g/tonne	Ag OZ/ton	Pb %	Zn %	Mn %
P1R3-1-1	0.48	5.5	0.2	0.04	0.21	5.03
P1R3-1-2	0.28	10.9	0.3	0.44	0.87	3.91
P1R3-1-3	0.33	5.7	0.2	0.05	0.30	1.64
P1R3-2-1	0.78	48	1.4	0.18	0.35	4.02
P1R3-2-2	0.33	3383	98.6	19.25	7.30	3.96
P1R3-2-3	0.25	8.6	0.3	0.08	0.20	3.27
P1R3-3-1	1	12.5	0.4	0.09	0.52	2.33
P1R3-3-2	0.27	1507	43.9	10.27	15.61	2.20
P1R3-3-3	0.55	6.9	0.2	0.04	0.09	1.63
P1R3-4-1	0.48	198	5.8	0.69	3.49	2.95
P1R3-4-2	0.26	90	2.6	0.65	0.21	4.32
P1R3-4-3	0.37	08	0.2	0.09	0.17	2.44
P1R3-5-1	1.16	32	0.9	0.29	0.37	6.73
P1R3-5-2	0.52	3625	105.7	37.10	5.78	4.22
P1R3-5-3	0.43	15	0.4	0.12	0.32	4.16
P1R3-6-1	0.69	55	1.6	0.51	0.68	5.29
P1R3-6-2	0.48	2716	79.2	35.12	8.92	3.15
P1R3-6-3	0.41	11	0.3	0.16	0.43	4.84
P1R3-7-1	0.98	42	1.2	0.48	0.63	3.04
P1R3-7-2	0.44	4381	127.7	43.48	8.07	3.92
P1R3-7-3	0.19	52	1.5	0.42	0.70	3.22
P1R3-8-1	1.09	41	1.2	0.38	0.29	4.84
P1R3-8-2	0.25	3034	88.5	33.26	10.20	4.66
P1R3-8-3	0.18	310	9.0	2.91	0.79	2.51
P1R3-9-1	1.2	66	1.9	0.57	0.50	2.67
P1R3-9-2	0.57	3760	109.6	34.18	12.60	1.96
P1R3-9-3	0.55	36	1.0	0.16	0.71	3.83
P1R3-10-1	0.57	35	1.0	0.28	5.12	5.78
P1R3-10-2	0.52	3659	106.7	36.83	6.75	2.43
P1R3-10-3	0.48	10	0.3	0.09	0.16	1.83

TABLE 5: PARTIAL RAISES 1 and 2 of LEVEL ONE
Sample ID	Width m	Ag g/tonne	Ag OZ/ton	Pb %	Zn %	Mn %
P1PR1-1-1	0.37	8.8	0.3	0.09	0.17	3.70
P1PR1-1-2	0.37	395.0	11.5	10.36	13.85	7.95
P1PR1-1-3	0.3	4.6	0.1	0.14	0.17	6.31
P1PR1-2-1	0.54	53.5	1.6	0.78	0.63	2.49
P1PR1-2-2	0.42	4106.0	119.7	17.57	10.40	5.09
P1PR1-2-3	0.27	7.9	0.2	0.19	0.36	3.39
P1PR2-1-1	0.28	361.0	10.5	2.80	1.41	4.85
P1PR2-1-2	0.33	2666.0	77.7	20.07	8.81	4.62
P1PR2-1-3	0.55	158.0	4.6	1.84	1.33	7.07
P1PR2-2-1	0.29	127.0	3.7	1.53	1.89	2.16
P1PR2-2-2	0.51	4018.0	117.1	27.40	4.65	3.90
P1PR2-2-3	0.28	31.3	0.9	0.17	0.46	3.72

TABLE 6: RAISE U of LEVEL ONE
Sample ID	Width m	Ag g/tonne	Ag OZ/ton	Pb %	Zn %	Mn %
P1RU-1-1	1	138	4.0	0.75	0.62	3.23
P1RU-1-2	0.35	376	11.0	4.22	4.77	7.06
P1RU-1-3	0.34	23.9	0.7	0.19	0.20	2.85
P1RU-2-1	0.8	160	4.7	0.90	0.67	2.23
P1RU-2-2	0.36	1363	39.7	2.99	4.91	4.75
P1RU-2-3	0.25	96	2.8	0.46	0.26	0.98
P1RU-3-1	0.8	38	1.1	0.16	0.14	1.58
P1RU-3-2	0.27	567	16.5	7.30	12.19	2.14
P1RU-3-3	0.48	11	0.3	0.09	0.10	3.11
P1RU-4-1	0.8	56	1.6	0.36	0.42	4.61
P1RU-4-2	0.47	1804	52.6	4.09	6.57	6.69
P1RU-4-3	0.43	21	0.6	0.11	0.13	2.53
P1RU-5-1	0.56	22	0.6	0.09	0.13	3.32
P1RU-5-2	0.38	5950	173.5	33.13	3.31	2.92
P1RU-5-3	0.49	71	2.1	0.34	0.30	3.41
P1RU-6-1	0.63	77	2.2	0.30	0.29	3.71
P1RU-6-2	0.2	4481	130.6	18.28	3.20	2.10
P1RU-6-3	0.5	14	0.4	0.11	0.11	2.19

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 are by fire assay with gravimetric finish, and over limits for Pb, Zn and Mn are by multi-acid digestion and ICP ES finish.

Technical information in this news release has been reviewed and approved by Jim Cuttle, P.Geo, 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.