Silverstone Resources Corp.
TSX VENTURE : SST

Silverstone Resources Corp.

January 23, 2008 07:00 ET

Silverstone Discovers Significant Disseminated Silver-Gold Mineralization in the La Colorada Zone, Copala Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2008) - Silverstone Resources Corp. ("Silverstone") (TSX VENTURE:SST) is pleased to report results from the first 15 drill holes (1,302m HQ core drilling) targeted on a zone of historic workings known as La Colorada. At present, the company has completed 45 HQ core holes totaling 4,614 meters. Assays for the additional 30 holes are pending and will be reported when received. This zone is located about 5.5kms to the WSW of the Animas-Refugio vein where Silverstone has focused previous drilling. (Please see property map located below.) The Copala Project is located 60km ENE of Mazatlan, Sinaloa State, Mexico.

Highlights

- SCC-07-01 - 14.4 meters grading 0.39 g/t gold and 95 g/t silver

- SCC-07-02 - 5.6 meters grading 2.87 g/t gold and 936 g/t silver

- SCC-07-05 - 8.4 meters grading 1.36 g/t gold and 248 g/t silver

- SCC-07-07 - 16.9 meters grading 0.44 g/t gold and 117 g/t silver

- SCC-07-09 - 2.0 meters grading 10.38 g/t gold and 1,634 g/t silver

- SCC-07-11 - 13.7 meters grading 0.52 g/t gold and 107 g/t silver

The following table presents a summary of the results for drill holes SCC-07-01 to SCC-07-15.



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INTER- TRUE Ag
FROM TO VAL WIDTH Au Ag Equiv-
HOLE NO. DESCRIPTION mts mts mts (i) g/t g/t alent
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SCC-07-01 Total Intercept 19.00 53.75 34.75 27.80
Core Intercepts 18.00 14.40 0.39 95 117
Old Working Voids 16.75 13.40
Interval Ended in Workings
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SCC-07-02 Total Intercept 59.50 68.00 8.50 7.57
Core Intercepts 6.30 5.61 2.87 936 1,097
Including 62.50 62.75 0.25 0.22 79.90 16,974 21,468
Old Working Voids 2.20 1.96
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SCC-07-03 Hole lost in workings at 22.5m
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SCC-07-04 Core Intercept 21.50 28.25 6.75 4.73 0.36 61 81
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SCC-07-05 Core Intercept 34.25 44.50 10.25 8.41 1.36 248 325
Hole lost in workings at 47.0m
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SCC-07-06 Core Intercept 34.00 45.50 11.50 10.47 0.42 111 135
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SCC-07-07 Total Intercept 29.00 55.00 26.00 20.28
Core Intercepts 21.68 16.91 0.44 117 142
Old Working Voids 4.32 3.37
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SCC-07-08 Core Intercept 33.53 35.50 1.97 1.81 0.29 48 64
Core Intercept 40.00 54.00 14.00 12.88 0.38 56 77
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SCC-07-09 Total Intercept 22.00 53.00 31.00 24.80
Core Intercept 2.50 2.00 10.38 1,634 2,218
Core Intercept 21.00 16.80 assays pending
Old Working Voids 7.50 6.00
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SCC-07-10 Total Intercept 21.00 39.00 18.00 16.02
Core Intercepts 16.48 14.67 0.31 62 79
Old Working Voids 1.52 1.35
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SCC-07-11 Core Intercept 14.75 33.00 18.25 13.69 0.52 107 136
Core Intercept 87.00 88.75 1.75 1.31 2.75 599 754
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SCC-07-12 No significant assay
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SCC-07-13 Total Intercept 8.00 30.00 22.00 18.92
Core Intercepts 11.81 10.16 0.33 37 56
Old Working Voids 10.19 8.76
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SCC-07-14 No significant assay
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SCC-07-15 No significant assay
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- (i) True widths are estimated by correcting for the strike and dip of
the vein and the bearing and inclination of the drill hole.

- Silver equivalent grade is based on the relationship of current prices
of gold ($900 per ounce) and silver ($16 per ounce) and assumes 100%
metallurgical recovery and 100% smelter payable for both metals.

- Total intercept in meters includes all old working voids and cored
intervals. The individual cored intercepts within a total interval were
composited and presented in this table as one core intercept.

- Drill hole location maps are found on Silverstone's website at
www.silverstonecorp.com.


It is very significant that the individual core intercepts lie within a thicker zone of manto and feeder vein mineralization that includes historic workings that were used to extract higher grade material. Most of the manto mineralization at La Colorada lies within a mesa at relatively shallow depths. This zone is amenable to open pit development. Subsequent drilling has pursued the manto mineralize-ation to the north and northwest.

To view accompanying map, please click on the following link: http://www.ccnmatthews.com/docs/SST_map.jpg

Currently, Silverstone has one diamond core rig drilling at La Colorada. A decision to utilize a reverse circulation drill rig for definition drilling at La Colorada will be made in February.

Samples were assayed by ALS Chemex in Vancouver. Blank, standard and duplicate pulp samples have also been assayed by ALS Chemex and duplicate core samples have been sent to SGS in Toronto, Ontario. The results for these QA/QC samples have been acceptable in the mineralized intervals and additional QA/QC analyses are in progress.

Hugh Willson, Vice President of Exploration for Silverstone and a qualified person under NI 43-101, has reviewed the contents of this news release and supervised the Copala Project for Silverstone since its inception.

An independent resource study on the Clemens-El Muerto zone is expected to be completed by the end of March 2008.

ABOUT SILVERSTONE

Silverstone is a growth oriented silver mining company with 100% of its revenue from silver production. Silverstone expects to have 2008 silver sales of approximately 2 million ounces and increasing to more than 3 million ounces in 2009. More information is available online at www.silverstonecorp.com.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has neither approved or disapproved of the contents herein.

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