Silver Spruce Resources, Inc. Purchases 100% Interest in Pino de Plata Claims in Mexico

Silver Spruce Resources Inc. (SSE) has upgraded its interest in the Pino de Plata claims in Mexico from an option agreement to 100% outright ownership. The transaction involves a nominal upfront payment of US$10,000 and future earn-in obligations, including 10% of gross proceeds upon future sale, plus annual payments of US$15,000 for 2027-2028 and US$25,000 thereafter. No royalties or exploration spending requirements are attached to the claims.

Land access negotiations with local representatives in Chihuahua and Hermosillo have resumed for the first time since 2019. The company plans to initiate Phase 1 exploration drilling, targeting high-grade silver, lead, and zinc mineralization. The assignment agreement is pending registration with the Mexico Ministry of Mining.

Silver Spruce Resources Inc. (SSE) has secured 100% ownership of its assets, a move that simplifies the corporate structure and removes the previous joint venture partner. This development follows the May 2025 option agreement announcement and aligns with management's stated strategy to maintain full control of early-stage assets. The financial burden of the transaction is minimal, requiring a $10,000 upfront payment and low annual payments, which helps preserve scarce working capital.

The announcement does not materially alter the company's near-term cash burn or operational timeline, as land access agreements and permitting remain prerequisites for drilling. With the stock having declined to $0.08 and an explicit going concern flag in place, the market has already priced in the lack of operational progress. Consequently, this announcement serves as a procedural milestone rather than a fundamental catalyst.

Silver Spruce Resources Inc. (SSE) is an early-stage exploration company focused on precious and base metals in Mexico and Canada. Its flagship asset is the Pino de Plata project, a 397-hectare property located in the western Sierra Madre Occidental Volcanic Complex, approximately 15 km west of Coeur Mining's Palmarejo operations.

Surface sampling at Pino de Plata has revealed widespread silver values averaging greater than 50 g/t Ag, with local targets exceeding 500 g/t Ag. Historical samples reported grades up to 672 g/t Ag, 2.09% Pb, and 4.15% Zn. The company has identified three target types at the site: disseminated epithermal, carbonate replacement, and vein mineralization. The property has never been drilled, and Phase 1 drilling is planned pending land access.

In addition to Pino de Plata, Silver Spruce Resources Inc. holds the Jackie Au-Ag Project in Mexico, which it will own 100% upon closing, and the Melchett Lake VMS Project in Ontario, which it owns 100%.