Silver Spruce Resources Inc. announced a private placement of 66,666,667 units at a price of CAD 0.015 for the gross proceeds of CAD 1,000,000 on February 27, 2023. Each unit consists of one common share and one common share purchase warrant to purchase an additional common share at an exercise price of CAD 0.05 per share for a period of two years from the closing of the private placement. The private placement is subject to the approval of the TSX Venture Exchange.

Finder's fees will be paid on the private placement in accordance with the policies of the TSX Venture Exchange.