VANCOUVER, British Columbia -- (Business Wire)
Silver Sun Resource Corp. ("Silver Sun" or "the Company") is pleased to
announce that subject to Exchange approval, the Company has increased
its interest in the Cherry Hill Mining Company to a total of 100% by
acquiring an additional 31.85% interest.
In consideration for the additional 31.85% interest, the Company has
agreed to issue 950,000 shares of Common Stock of the Company and issue
475,000 common share purchase warrants at a price of $0.56 for a period
of twelve (12) months from the date of closing. Closing of the
transaction will be subject to obtaining all applicable regulatory,
corporate approvals and consents, including the consent of the TSX
Venture Exchange.
About Silver Sun Resource Corp.
Silver Sun Resource Corp. is a Canadian-based resource company focused
on the acquisition, exploration and development of precious metal
deposits in North America. The Company is in the final stages of
development of its gold project in Yreka, California and engaged in an
on-going work programme on their Zacatecas, Salvador, and Mina San Jose
properties located within the prolific Zacatecas Silver District in
Mexico, as well as its newly acquired Yoreme Silver Project in the
mining district of Alamos, Sonora State, Mexico. The Company has an
experienced management team with a growth strategy to develop a
diversified portfolio of mining projects that can be taken to production
in the near-term. The company's design is to add shareholder value
through efficient exploration, strategic acquisitions and effective
marketing while maintaining a low risk profile through project
diversification and sound financial management.
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ON BEHALF OF THE BOARD OF DIRECTORS
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"Mark A. McLeary" |
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President
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SILVER SUN RESOURCE CORP.
Suite 400 - 409 Granville Street
Vancouver,
BC, V6C 1T2
Telephone: (604) 678-2531
Forward Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Silver Sun Resource Corp.
Mark A. McLeary, (604) 678-2531
Source: Silver Sun Resource Corp.
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