Mr. Garth Braun reports

HULDRA CREDITORS APPROVE RESTRUCTURING PLAN, AND HULDRA PROVIDES CORPORATE UPDATE

Huldra Silver Inc.'s creditors approved the plan of compromise and arrangement that were presented to the creditors of the company at the creditor meetings held on Sept. 23, 2014. The plan was approved by 100 per cent of the secured and unsecured creditors, who voted in person or by proxy at the meetings. The plan was provided to the creditors by the monitor in accordance with the company's proceedings and restructuring under the Companies' Creditors Arrangement Act (Canada). Under the plan, subject to receipt of the requisite approvals, the company intends to compromise and settle its outstanding obligations, exit creditor protection under the CCAA, and restructure its affairs and focus on recommencing the company's business operations. A summary of the plan is included in the company's news release dated Aug. 8, 2014.

The implementation of the plan remains subject to a number of conditions, including, among other things, approval of the Supreme Court of British Columbia and completion of the first tranche of the company's convertible debenture financing, to raise gross proceeds of at least $5-million. A summary of the terms of the financing is included in the company's news releases dated Aug. 8, 2014, and Aug. 25, 2014.

Following completion of the restructuring, the company intends to focus on transforming its Merritt Mill property into a processing facility for mill feed for other gold- and silver-mining companies as there are significant costs associated with securing land, purchasing and building a processing mill, and a lined tailings facility. Such a facility would provide the opportunity for other companies to avoid the significant capital expenditure requirements necessary to build such a processing facility. In addition, the company intends to resume exploration activities at its Treasure Mountain project.

The company also announces that Garth Braun, chief financial officer of the company, has notified the company of his intention to resign as chief financial officer of the company upon the company exiting CCAA creditor protection and a suitable replacement being found. Mr. Braun will continue to hold his position as a director of the company.

"We want to thank Garth Braun for his continued involvement in Huldra. Garth was the single most important driving force behind the successful restructuring of Huldra, which obtained unanimous approval from the creditors yesterday. Garth was an integral part of the CCAA process that has provided Huldra with the opportunity for future growth and viability," commented Peter Espig, chief executive officer of Huldra.

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