Mr. Stephan Jedynak reports

SILVER SPRUCE RESOURCES ANNOUNCES SHARES FOR DEBT SETTLEMENT

Silver Spruce Resources Inc. has arranged a settlement for outstanding indebtedness of $150,000 through the issuance of three million common shares of the company at a deemed price of five cents per common share.

This debt settlement is subject to TSX Venture Exchange approval, and the shares will be subject to a four-month hold period.