SNS Silver Corp.

SNS Silver Corp.

August 07, 2009 16:00 ET

SNS Silver Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2009) - SNS Silver Corporation ("SNS" or the "Company") (TSX VENTURE:SNS) announces a non-brokered private placement of up to 10,000,000 units at a price of $0.10 per Unit, for gross proceeds of up to $1,000,000. Each unit will consist of one common share and one non-transferable warrant. Each warrant will be exercisable to acquire one additional share for a period of 24 months from closing at an exercise price of $0.20.

The proceeds from the private placement will be used for completion of the scoping study on the Crescent Mine and for general working capital purposes. Funds raised may include up to a 10% finder's fees in cash or shares.

The offering is subject to completion of satisfactory due diligence by the agents with respect to the company, completion and execution of appropriate documentation, acceptance for filing by the TSX Venture Exchange of the offerings on behalf of the company, and receipt of any required regulatory approvals.

SNS Silver Corporation (TSX VENTURE:SNS) is an exploration mining company, whose assets include a number of near term production projects in geopolitically secure Idaho, USA. The 100% owned Crescent Mine consists of 24 patented mining claims over approximately 350 acres. These adjacent properties operated independently to produce nearly 400 million ozs of silver historically and their recent merger is expected to enhance exploration opportunities on their once disputed boundary. SNS also benefits from a partnership arrangement with Premium Exploration Ltd. to jointly develop two near term gold production projects in central Idaho; Buffalo Gulch and Friday/Petsite.

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

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