Silver Spruce Resources Inc. Provides an Update On Jackie and Diamante Projects
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DISSEMINATION IN THE UNITED STATES
Silver Spruce Resources Inc. Provides an Update
On Jackie and Diamante Projects
May 5, 2026 – Bedford, NS - (TSXV: SSE) – Silver Spruce Resources Inc. (“Silver Spruce ” or the
“Corporation”) is pleased to provide an update regarding its Jackie and Diamante Projects located in
Sonora, Mexico. As previously announced (see News Releases dated May 14, 2025 and November 12,
2025), the Co rporation has entered into an agreement with Colibri Resource Corporation (“ Colibri”)
(TSXV:CBI) pursuant to which Silver Spruce will acquire Colibri’s 50% ownership interest in the Jackie
Au-Ag property (“Jackie”).
The 1,130-hectare Jackie property is a precious metal project located 8km west -southwest of the town of
Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico. Jackie Property
is situated within the west -central portion of the Sierra Madre Occidental Volcanic Complex of northern
Mexico. Mining and exploration in the surrounding area is active with adjacent and nearby properties held
by Alamos Gold, Argonaut, Agnico Eagle, Evrim , Newmont, Garibaldi, Kootenay Silver , and Penoles,
among others. In consideration for Colibri’s 50% interest, Silver Spruce will issue C$25,000 of common
shares in the capital of the Corporation (the “ Common Shares”) to Colibri and grant a 1% Net Smelter
Return royalty on any future production from the Jackie property. Following completion of the acquisition,
Silver Spruce will own 100% interest in the Jackie property. The Company has applied for the approval of
the Jackie transaction by the TSX Venture Exchange (the “TSXV”) and the transaction remains subject to
TSXV final approval.
Additionally, as previously announced (see News Release dated May 14, 2025), Silver Spruce has entered
into an agreement with Colibri pursuant to which is has agreed to relinquish to Colibri its 25% interest in
the Diamante Project held via its 50% holding in Yaque Minerales SA de CV in exchange for forgiveness
of approximately C$80,000 in outstanding exploration expenditures incurred by Colibri on the Diamante
Project on behalf of Silver Spruce. The Diamante transaction is not subject to disinterested shareholder
approval under the TSXV Policies but remains subject to the approval of the TSXV.
Kevin O’Connor is a director of both Silver Spruce and Colibri and has abstained from voting on both
transactions.
About Silver Spruce Resources
Silver Spruce Resources Inc. is a Canadian junior exploration company. The Company’s diversified
exploration portfolio now includes:
• Pino de Plata Ag Project – High-grade silver property with historic artisanal mining located 15
kilometres west of Coeur Mining’s Palmarejo Mine in western Chihuahua, Mexico
• Jackie Au -Ag Project – Early-stage epithermal project with high -grade surface sampling and
strong structural targets located <10 kilometres northwest from Minera Alamos’ Nicho deposit in
eastern Sonora, Mexico
• Melchett Lake VMS Zn-Ag-Au-Cu Project – Polymetallic project with historical drilling in the
Thunder Pay Mining District of Ontario
Media Release
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Contact:
Kevin O’Connor, Director
(312) 509-5972
Paul K. Smith (P. Geo.), Vice-President Exploration
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 information that involves substantial known and unknown risks and uncertainties, most
of which are beyond the control of Silver Spruce Resources. Forward -looking statements include estimates and statements that
describe Silver Spruce Resources’ future plans, objectives or goals, including words to the effect that Silver Spruce Resources or
its management expects a stated condition or result to occur. Forward -looking statements may be identified by such terms as
“believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “intends”, “plans”, “subject to” or
“proposed”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very
nature they i nvolve inherent risks and uncertainties. Although these statements are based on information currently available to
Silver Spruce Resources, the Corporation provides no assurance that actual results will meet management’s expectations. Risks ,
uncertainties and other factors involved with forward -looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is not limited to, the Corporation’s objectives, goals or future plans,
statements regarding the proposed acquisition of Colibri Resource Corporation’s 50% interest in the Jackie property, the
Corporation’s anticipated 100% ownership interest in the Jackie property following completion of such acquisition, the proposed
relinquishment of the Corporation’s 25% interest in the Diamante Project in exchange for the forgiveness of approximately
C$80,000 in outstanding exploration expenditures, and the receipt of TSX Venture Exchange approval for the Jackie and Diamante
transactions.. Factors that could cause actual results to differ materially from such forward -looking information include, but are
not limited to, failure or inability to complete the Jackie and Diamante transactions on the terms disclosed or at all , failure to
obtain required approvals, including the approval of the TSX Venture Exchange, regulatory approval processes, failure to identify
mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or ot her project
approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties
relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in ex change
rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significa ntly
from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in t he
Corporation’s public documents filed on SEDAR+. Although the Corporation believes that the assumptions and factors used in
preparing the forward -looking information in this news release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in
the disclosed time frames or at all. Silver Spruce Resources disclaims any intention or obligation to update or revise any forward-
looking information, whether as a result of new information, future events or otherwise, other than as required by law.