Silver Sun Resource Corp.
TSX VENTURE : SSU

December 02, 2010 08:00 ET

Silver Sun Samples 1,768.6 g/t Silver Over 2.0m on Yoreme Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2010) - Silver Sun Resource Corp. (TSX VENTURE:SSU) ("Silver Sun" or "the Company") is pleased to announce that it has entered into a mineral property purchase agreement with Maggiore Capital Limited pursuant to which the Company has acquired one hundred percent (100%) right, title and interest in the Yoreme mineral claim (the "Property"). The Property is 400 hectares in size and is located in the Municipality of Alamos, state of Sonora, Mexico.

The Yoreme Property covers the San Manuel silver/lead/zinc vein, which has been traced for 500 metres. The San Manuel vein is the southwestern most structure in the Alamos Mining district – one of the oldest mining districts in Sonora. The Project is approximately 47 km northwest of Panamerican Silver's Alamo Dorado silver mine.

Initial sampling performed by Company's Mexican subsidiary retuned the following values:

Sample Type Width (m) Ag (g/t) Pb (%) Zn (%)
       
37459 Rock 2.0 569.3 1.63 6.04
37460 Dump - 1,259.6 0.97 2.61
37461 Rock 2.0 1,768.6 0.29 0.74
37462 Rock 1.0 82.7 0.05 0.51
37464 Dump - 85.9 2.02 2.62
37465 Rock 1.0 1,825.7 0.18 0.31

Follow-up sampling performed in conjunction with a technical report returned:

- 256.0 g/t silver over 1.96 m;

- 262.0 g/t silver over 1.8 m; and

- 126.0 g/t silver over 2.6 m.

Consideration paid to Maggiore Capital will be 2,500,000 common shares of the Company on the 10th business day following receipt of the requisite TSX Venture Exchange approval for the transaction. The Company has agreed to pay 200,000 shares as a finders' fee.

Robert van Egmond, P.Geo, is the company's Qualified Person as defined by National Instrument 43-101, who is responsible for monitoring the supervision and quality control of Silver Sun's exploration programs and who has reviewed and verified the technical information contained in this news release.

Samples mentioned in this news release were submitted to ALS Chemex and Inspectorate Labs for preparation and analysis in their facilities located in Hermosillo, Mexico and Vancouver, Canada. Samples consisted of approximately 2 – 4 kg. of material and were analyzed for gold by 30g fire assay and 40 element ICP. Over-limits in silver, lead and zinc were re-analyzed using 'ore grade' analysis.

About Silver Sun Resource Corp.

Silver Sun is a Canadian-based resource company focused on the acquisition and exploration of precious metal deposits in Mexico. The Company is engaged in an on-going work program on the Zacatecas, Salvador and Mina San Jose properties, located within the prolific Zacatecas Silver District in Mexico. The Company has an experienced management team with a growth strategy to develop a diversified portfolio of mining projects.

ON BEHALF OF THE BOARD OF DIRECTORS 

Mark A. McLeary, President

Forward Looking Statements

The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company's production objectives are intended to provide an indication of management's current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

This release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Neither 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 release.

Contact Information

  • Silver Sun Resource Corp.
    Mark A. McLeary
    President
    (604) 678-2531