Silver Spruce Resources Inc. announced that it entered into a Property Purchase Agreement with a third party arm's length vendor (the "Vendor") dated March 8, 2024 (the "Agreement"). Under the terms of the Agreement, the Company is entitled to acquire 100% interest to 22 mining claims covering 448.8 hectares (the "Claims") located near Melchett Lake in the Thunder Bay Mining Division the Province of Ontario. The Claims are contiguous with the Melchett Lake mineral property acquired by the Company via staking and additionally from three third party vendors pursuant to the Option and Purchase Agreement dated November 20, 2019, as amended.

The purchase price for the Claims consists of a cash payment of $1,100 which has been paid to the Vendor on signing of the Agreement and the issuance of 350,000 common shares of the Company to the Vendor. The Agreement is subject to the approval of the TSX Venture Exchange.