SNS Silver Corp.

SNS Silver Corp.

March 16, 2009 15:47 ET

SNS Silver Corp.'s JV Partner Announces Drill Program to Extend High-Grade Gold Zone at Friday-Petsite

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 16, 2009) - SNS Silver Corp. (TSX VENTURE:SNS) and Premium Exploration Inc. (TSX VENTURE:PEM) announce the launch of an 800 meter (2,624 foot) drill program at the Friday-Petsite gold project. The objective of the drill program is to extend a high-grade zone discovered by previous operators Bema Gold, Cyprus-Amax, Kinross Gold Corp., and Beartooth Platinum Corp., located along the Orogrande Shear Zone ("OSZ)" in Idaho, USA.

Highlights from the Cyprus-Amax and Kinross drilling from the high-grade zone:

- Hole PC008: 7.33 g/t gold over 16.7 meters

-- Including 52.05 g/t gold over 1.6 meters

- Hole PC010: 4.58 g/t gold over 68.6 meters

-- Including 12.11 g/t gold over 19.8 meters, and

-- 75.09 g/t gold over 1.5 meters

Premium intends to drill six holes to expand the strike length and further delineate the down dip extension of the high-grade zone. The current strike length of the high-grade zone is 350 meters and is open to the north, south and down dip. In conjunction with expansion drilling, Premium intends to audit the high-grade drill intercepts intersected by previous operators during the 1990's when the price of gold was approximately $290/oz. Drilling will commence as soon as snow levels allow, anticipated by late April 2009.

Friday-Petsite has many of the hallmarks of a world-class, gold deposit in terms of its size potential, grades and proximity to 13 historic mines on the high-grade quartz veins along the OSZ. The high-grade zone occurs within a larger potential open-pit that hosts a NI 43-101 inferred gold resource estimate of 531,890 troy ounces contained in 15.17 million tonnes averaging 1.1 g/t gold at a cutoff of 0.514 gram per metric tone. A total of 192 drill holes (64,213 ft) have been completed by previous operators who also started a prefeasibility report including environmental and mine site studies for a heap leach project.

Orogrande Shear Zone

The Orogrande Shear Zone is a large exploration project that hosts over 681,000 oz of gold (non 43-101 compliant) with the added benefit of potential near-term production to offset future exploration costs. It is located in central Idaho and all the streams and drainages in the area are heavily placer mined, with regional production in Central Idaho historically amounting upwards of 4,000,000 oz of gold. Premium is currently advancing the production permitting for its most northern property, Buffalo Gulch and drilling the Friday-Petsite property (located on the southern end of the Shear Zone) should demonstrate the potential tenor of mineralization along the 28 kilometer strike length of the Shear Zone. Map of the Shear Zone:

The region is geopolitically stable and supported by excellent project infrastructure, including road accessibility and access to power and water.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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