Mr. Peter Espig reports

HULDRA SILVER INC. ANNOUNCES SHARE SURRENDER AGREEMENT

Huldra Silver Inc. and Craigmont Mines' joint venture, CMJV, has entered into a share surrender agreement whereby CMJV has agreed to surrender and return to treasury 18 million common shares in the capital of Huldra that were issued to CMJV in connection with Huldra's proceedings under the Companies' Creditors Arrangement Act (Canada) (CCAA).

The settlement shares were issued on Nov. 21, 2014, in settlement of a $900,000 claim made by CMJV under the CCAA proceedings for potential reclamation liabilities in the event that Huldra would enter into an insolvency process. The total number of issued and outstanding common shares of Huldra has been reduced from 420,967,803 shares to 402,967,803 shares, a decrease of approximately 4.3 per cent.