The Silver Recycling Company Inc.
TSX VENTURE : TSR

The Silver Recycling Company Inc.

June 24, 2008 17:58 ET

The Silver Recycling Company- Second & Final Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

The Silver Recycling Company Inc. (TSX VENTURE:TSR) ("Silver Recycling") announces the closing of the second and final tranche of its non-brokered private placement. A total of 317,493 units at $0.60 per unit were issued in the second closing on June 20, 2008. Each unit consisted of one common share and one-half warrant, with each whole warrant being exercisable into one share at $0.85 per share for a term of 12 months. All of the securities issued are subject to a four month hold period. The net proceeds of the second and final tranche will be used for general working capital.

THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM U.S. REGISTRATION REQUIRMENTS. ANY PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES BY THE ISSUER OR A SELLING SECURITY HOLDER MAY ONLY BE MADE BY MEANS OF A PROSPECTUS CONTAINING DETAILED INFORMATION ABOUT THE COMPANY AND MANAGEMENT AS WELL AS FINANCIAL STATEMENTS.

About 'The Silver Recycling Company Inc.'

Silver Recycling is a consolidator of privately-owned silver and other precious metals recycling companies and recently closed the acquisition of two companies in Pennsylvania as announced in the news release of May 28, 2008. Silver Recycling is continuing to review other candidate companies within the precious metals recycling industry for acquisition and integration in alignment with the Company's business strategy. Information about Silver Recycling is available on their website www.silver-recycling.com.

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

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