Mr. Dennis McKnight reports

HI HO SILVER RESOURCES INC. EXPANDS GRASSET LAKE NICKEL PROSPECT LAND POSITION, QUEBEC, CANADA

Hi Ho Silver Resources Inc. has purchased an additional 11 mineral tenures, covering 605 hectares, pursuant to a property purchase agreement dated Feb. 5, 2015, with Rusty V Resources and 0998601 B.C. Ltd. The additional claims are added to the company's Grasset Dome property, located adjacent to the recent nickel-copper-platinum group element Grasset Lake discovery of Balmoral Resources Ltd. This additional acquisition brings the total Hi Ho landholding in this area to 9,830 hectares.

Hi Ho's Grasset Dome property is located within the Detour trend of the Abitibi region of northwestern Quebec, Canada. The new acquisition and the previous property holdings are believed to be prospective for Ni-Cu-PGE deposits, gold deposits, and copper-zinc-gold-silver volcanic massive sulphide deposits. In consideration of the 100-per-cent interest in the additional claims, the company issued a total of three million common shares at a deemed price of five cents per share, which will be allocated to Rusty V Resources as to 600,000 shares, 0998601 B.C. 1.5 million shares and Laura Benson 600,000 shares.

There will be no net smelter return royalty retained by the property vendors. In connection with the purchase of the property, the company paid an additional finder's fee by the issuance of 150,000 shares to George Sookochoff and 150,000 shares to Greg Milne. The shares have a hold period until June 4, 2015.

The property lies west of Hi Ho's current holding of 6,825 hectares, and combined the total holding now covers 9,830 hectares. The new acquisition lies northwest of the Balmoral nickel discovery that is currently being further evaluated with a winter drilling program aimed at expanding the main zone of nickel mineralization. The main nickel-copper-PGM zone is now projected to extend over 400 metres in length, 50 metres in width and over 400 metres in depth for the main net-textured and disseminated nickel zone. This upper zone is part of a 100-metre-thick package that is geophysically determined to extend over 1,100 metres in length (Balmoral website, January, 2015, press release). Balmoral has delineated in excess of 50 targets from its recent airborne electromagnetic surveying of its extensive land position (Balmoral press release dated Dec. 11, 2014).

Hi Ho anticipates an airborne geophysical survey program to further define potential targets within this land package. Drilling of electromagnetic anomalies will be conducted when funds are available following completion of the survey.

The reader is cautioned that this property is in the exploration stage and that no mineral resource or mineral reserves are known on the property. There can be no assurance that additional exploration will result in the discovery of a mineral resource or that if discovered, such resource can be economically mined.

Case Lewis, PGeo, an independent qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release, except for the information contained in the various Balmoral news releases.