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Silver Spruce Grants Stock Options

Share Capital & Compensation

Silver Spruce Grants Stock Options

Bedford, NS, March 23, 2021 – Silver Spruce Resources Inc. (the “Company”) (TSXV:SSE) announced

today that it has granted 250,000 stock options to a consultant of the Company with an exercise price of

$0.06 per share and an expiry date of March 23, 2026.

The stock options will vest 1/3 on the date of the grant, 1/3 on the first anniversary of the grant and the final

1/3 on the second anniversary of the grant.

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, and with Colibri

Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El

Mezquite Au project, a drill -ready precious metal project, and 50% interest in Colibri's early stage Jackie

Au project, with both properties loca ted only 12 and 6 kilometres west from Minera Alamos's Nicho

deposit, respectively. The Company also is pursuing exploration of the drill-ready and fully permitted Pino

de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua,

Mexico. 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.

Brian Penney, Chairman and CEO

(902) 430-8270

[email protected]

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. The company seeks Safe Harbour.

Media Release