Silver Spruce Expands Hold in Ontario with Additional Mining Claims

On March 22, 2024, Silver Spruce Resources Inc. announced its acquisition of 22 additional mining claims adjacent to its Melchett Lake mineral property in Ontario. This strategic move further establishes the company's presence in the region. The claims, covering an area of 448.8 hectares near Melchett Lake in the Thunder Bay Mining Division, were acquired under a Property Purchase Agreement with an independent vendor, finalized on March 8, 2024. Silver Spruce compensated the vendor with $1,100 in cash and 350,000 common company shares, valued at $0.015 each. This acquisition is contiguous with the Melchett Lake property previously secured via staking and deals with three third-party vendors, as detailed in an earlier announcement on February 15, 2024.

This expansion reflects Silver Spruce's continued efforts to strengthen its portfolio in the Canadian mining sector, specifically within Ontario's mineral-rich territories. This latest transaction underscores the company's strategic approach towards acquiring and developing promising mineral sites across Canada, amidst a competitive landscape.