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TSX-.V: HDA
NEWS
RELEASE
April 1, 2011 HULDRA SILVER INC. ANNOUNCES FILING OF APPLICATION FOR A PERMIT APPROVING THE SMALL MINE PLAN FOR TREASURE MOUNTAIN MINE
Vancouver, British Columbia ± April 1, 2011 ± Huldra Silver Inc. (TSX-V:HDA) WKH³Company´RU ³Huldra´ LVSOHDVHGWRDQQRXQFHWKDWLWKDVPDGHDQDSSOLFDWLRQIRUD SHUPLWDSSURYLQJWKH&RPSDQ\¶V Small Mine Plan and Reclamation Program pursuant to Section 10 of the British Columbia Mines Act for the development and operation of t he Treasure Mountain Mine Project being developed by Huldra. The application allows for up to 75,000 tonnes a year of ore removal, however, the maximum the Company expects to remove is 60,000 tonnes per year.
In the area of current underground development at Treasure Mountain, a National Instrument 43- ³1, 43-´ FRPSOLDQWUHVRXUFHHVWLPDWHLQ UHSRUWHGDWRWDOYHLQLQGLFDWHGUHVRXUFHXVLQJDR]WRQQH Ag cut-off, of 33,000 tonnes grading 26.68 oz/tonne Ag, 4.16% Pb and 3.8% Zn, and a total vein inferred resource, using a 10 oz/tonne Ag cut-off, of 120,000 tonnes grading 29.76 oz/tonne Ag, 2.79% Pb and 4.36% Zn. A total of 2,750 metres of underground development on four levels was completed between 1987 and 1989 before the Treasure Mountain Project was shut down due to low silver prices prior to production.
The proposed mining method at Trea sure Mountain will utilize shrink stoppage and develop the levels in succession from the top of the mine to the lowest curr ent level. Huldra currently has a 10,000 tonne bulk sample permit in place to begin underground mining prior to the acceptance of this permit application.
Huldra will also be conducting further underground drilling for exploration and further resource definition. Historically, only 5,500 feet of underground drilling was conducted on the developed mine.
The Company will make a separate application for an amendment to the existing mill permit for its proposed milling site, as disclosed in its March 31, 2011 press release, at the completion of due diligence and environmental testing related to that site. The process design and all metallurgical testing have been completed for a 200 tonnes per day milling operation. Huldra will be finalizing construction and design plans during the due diligence period. All necessary per mits are already in place for transportation of raw ore from Treasure Mountain to the proposed mill site near Merritt, BC.
The Company has also made an application to amend its current Notice of Work for Treasure Mountain to increase the surface exploration drill program from 4,500m to 9,500m. Also included in the amendment is an allowance for geochemical testing on the property to follow up on some historical anomalies. There are 5 high priority targets that Huldra has outlined for the 2011 exploration year. The Company will provide further details regarding this program in a separate news release.
'HWDLOV DERXWWKH &RPSDQ\¶V 7UHDVXUH0RXQWDLQ 3URMHFW FDQ EHIRX Q G LQ L WV 1 , -101 technical report filed on SEDAR on July 21, 2009.
Suite 610 ʹ 837 West Hastings Street ͻsĂŶĐŽƵǀĞƌ͕ͻsϲϯEϲͻdĞů͗ϲϬϰ-647-ϬϭϰϮͻ&Ădž͗ϲϬϰ-647-0143
About Huldra
Huldra is currently working on plans to put its Tr easure Mountain Project, located 3 hours east of Vancouver, BC, into development, subject to permitting and financing. The Company is also actively assessing other opportunities for acquisition and development. Technical information in this news release has been reviewed and approved by Erik Ostensoe, P. Geo., an independent qualified person as defined in NI 43-101.
On behalf of the Board of Directors
³Ryan Sharp´ Ryan Sharp, MBA President, CEO & Director
For additional information contact: Ryan Sharp at 604-647-0142 [email protected] [email protected] James Beesley, Sequoia Partners, at 778-389-7715 Don Graham, Sequoia Partners, at 778-558-4310
Disclaimer for Forward-Looking Information
This press release contains projections and forward-loo king information that involve various risks and uncertainties regarding future events such as: (i) the maximum ore p er year the Company intends to recover from the Treasure 0RXQWDLQ3URMHFW LL SURSRVHG PLQLQJPHWKRGVDW7UHDVXUH0RXQ WDLQ LLL WKH&RPSDQ\¶VSODQVUHJDUGLQJIXUWKHU underground drilling and resource de ILQLWLRQV LY WKH &RPSDQ\¶V SODQV WR DSSO\ IRU DQ DPHQGPHQW WR WKH PLOO SHUPLW IRU LWV SURSRVHG PLOO VLWH DQG LWV FRQVWUXFWLRQ DQG GHVLJQ SODQV UHODWHG WR VDPH DQG Y WKH &RPSDQ\¶V targets for the 2011 exploration year. No assurance can be given that any of the events anticipated by the forwardlooking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward- ORRNLQJ VWDWHPHQWV UHIOHFW PDQDJHPHQW¶V FXUUHQW YLHZV DQG DUH E DVHG RQ FHUWDLQ H[SHFWDWLRQV H stimates and assumptions which may pr ove to be incorrect. $ QXPEHU RI ULVNV DQG XQFHUWDLQWLHV FRXOG FDXVH WKH &RPSDQ\¶V actual results to differ materi ally from those express ed or implied by the forward-lo oking statements, including: (1) a downturn in general economic conditions in North Ameri ca and internationally, (2) the inherent uncertainties and speculative nature associated with silver exploration, (3) a decreased demand for silver, (4) any number of events or causes which may delay exploration and GHYHORSPHQWRIWKH&RPSDQ\¶V SURSHUW\LQWHUHVWVVXFKDVHQYLUR QPHQWDO liabilities, weather, mechanical fa ilures, safety concerns and labour problems, (5 ) the risk that the Company does not execute its business plan, (6) in ability to finance operations and growth, (7) inability to obtain all necessary SHUPLWWLQJDQGILQDQFLQJDQG RWKHUIDFWRUVEH\RQGWKH&RPSDQ\¶VFRQWUROThese and all subsequent written and oral forward-looking inform ation are based on estima tes and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as requ ired by law, the Company assumes no obligation to update forward- ORRNLQJ LQIRUPDWLRQ VKRXOG FLUFXPVWDQFHV RU PDQDJHPHQW¶V HVWLPDWHV RU RSLQLRQV change.
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