Silver Spruce Closes Private Placement of $1,135,507
FORM 51-102F3
MATERIAL CHANGE REPORT
ITEM 1 Name and Address of Company:
Silver Spruce Resources Inc.
Suite 440-1600 Bedford Highway
Bedford, NS
B4A 1E8
ITEM 2 Date of Material Change:
March 28, 2023.
ITEM 3 News Release:
News Release dated March 29, 2023, was disseminated by Accesswire on March
29, 2023, and a copy of the Material Change Report will be filed with the Nova
Scotia, British Columbia, Alberta, New Brunswick and Newfoundland and
Labrador Securities Commissions and the TSX Venture Exchange on March 29,
2023, by SEDAR.
ITEM 4 & 5 Summary and Full Description of Material Change:
See attached News Release dated March 29, 2023.
ITEM 6 Reliance on subsection 7.1(2) or (3) of National Instrument 51-102:
Subsection 7.1(2) or (3) is not being relied upon.
ITEM 7 Omitted Information:
No Information has been omitted on the basis that it is confidential.
ITEM 8 Executive Officer:
Mr. Michael W. Kinley, CEO
Telephone: (902) 402-0388
ITEM 9 Date of Report
March 29, 2023.
/s/ Michael W. Kinley___
MICHAEL W. KINLEY
CEO
Media Release
Silver Spruce Closes Private Placement of $1,135,507
Bedford, NS- March 29, 2023 - (TSXV:SSE) – Silver Spruce Resources Inc. announced today
that it has closed a private placement for proceeds of $1,135,507. The private placement consisted
of the issuance of 75,700,499 units at a price of $0.0 15 per unit with each unit consisting of one
common share and a warrant to purchase an additional common share at an exercise price of $0.05
per share on or before March 28, 2028.
The securities issued pursuant to the private placement have a hold period expiring on July 29,
2023.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed
Definitive Agreements to acquire 100% of the Melchett Lake Zn -Au-Ag project in northern
Ontario, 100% interest in the Mystery Au project near recent discoveries by Sokoman Minerals
Corp. and New Found Gold Corp. among others in the Exploits Subzone Gold Belt, Newfoundland
and Labrador, 100% interest in the Pino de Plata Ag project located 15 kilometres west of Coeur
Mining's Palmarejo Mine in western Chihuahua, Mexico and up to 50% interest in Colibri
Resource’s Diamante Au-Ag project located from 5 kilome tres to 15 kilometres northwest from
Minera Alamos's Nicho deposit in Sonora, Mexico. Silver Spruce recently signed a 50:50 joint
venture agreement with Colibri on the nearby Jackie Au project. Silver Spruce Resources Inc.
continues to investigate opportunities that Management has identified or that have been presented
to the Company for consideration.
Contact:
Silver Spruce Resources Inc.
Michael Kinley, CEO and Director
(902) 402-0388
www.silverspruceresources.com
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.
Notice Regarding Forward-Looking Statements
This news release contains "forward -looking statements," Statements in this press release which are not purely historical are
forward-looking statements and include any statements regarding beliefs, plans, expec tations or intentions regarding the future,
including but not limited to, statements regarding the private placement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include,
among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing
on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-
looking statements are made as of the date of this news release, and we assume no obligation to update the forward -looking
statements, or to update the reasons why actual results could differ from those projected in the forward -looking statements.
Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can
be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.