Mr. Gary Lindsey reports

SILVER ONE RESOURCES ANNOUNCES PRIVATE PLACEMENT FINANCING

Silver One Resources Inc. has arranged a non-brokered private placement financing of 17,857,142 units at a price of 28 cents per unit for total proceeds of $5-million.

Under the offering, each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase a common share at an exercise price of 40 cents for a period of three years from the date of issue.

The securities under the offering will be subject to restrictions on resale expiring four months and one day after issue. The company may pay finders a fee in cash and/or share purchase warrants. The company intends to use the net proceeds for exploration and drilling on the company's mineral properties, as well as general working capital purposes.

Closing of the offering is subject to acceptance of the TSX Venture Exchange.

About Silver One Resources Inc.

Silver One is focused on the exploration and development of quality silver projects. The company owns a 100-per-cent interest in its flagship project, the past-producing Candelaria mine, located in Nevada. Potential reprocessing of silver from the historical leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in unmined historical resources, as well as in previously identified high-grade silver intercepts downdip, which can potentially increase the substantive silver mineralization along strike from the two past-producing open pits.

The company owns a 100-per-cent interest in the Cherokee project, located in Lincoln county in Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 kilometres along strike.

Silver One also owns a 100-per-cent interest in the Silver Phoenix project. The Silver Phoenix project is a very-high-grade native silver prospect, recently permitted for drilling, which lies within the Arizona silver belt, immediately adjacent to the prolific copper-producing area of Globe in Arizona.

We seek Safe Harbor.