Silverstone Resources Corp.

Silverstone Resources Corp.

June 13, 2007 13:23 ET

Silverstone Receives $20 Million Through the Exercise of Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2007) - Silverstone Resources Corp. ("Silverstone") (TSX VENTURE:SST) is pleased to announce that to date it has received $20 million through the exercise of 11.1 million warrants. Each warrant was exercisable into one common share at an exercise price of $1.80 per share. There were 13.3 million warrants that were issued in June 2006 and expired on June 2007. Additional warrant exercises are currently being processed. Silverstone's cash balance is $27 million.

On June 6, 2007 Silverstone announced that it had secured US$40 million in debt financing with Scotia Capital Inc. in connection with the Lundin Mining silver transaction. As a result of the recent warrant exercises, Silverstone has reduced the amount of debt needed to close the Lundin silver transaction to US$25 million.


Silverstone is a growth oriented silver mining company with 100% of its revenue from silver production. Silverstone expects to have 2007 silver sales of approximately 1.0 million ounces and increasing to 3 million ounces by late 2009. More information is available online at:

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

Contact Information