Silver Sun Resource Corp. (SSUXF: OTC Link) | Silver Sun to Acquire Mining Rights Near Cherry Hill

Silver Sun to Acquire Mining Rights Near Cherry Hill

Sep 06, 2012

OTC Disclosure News Service

Vancouver, BC, Canada –

SILVER SUN RESOURCES CORP.
Suite400 – 409 Granville Street

Vancouver,BC, V6C 1T2

Telephone:(604) 678-2531

 

 

Silver Sun to Acquire ExclusiveMining Rights to Near-term Producer

Vancouver,British Columbia (September 6th, 2012) – Silver Sun Resource Corp. (“SilverSun” or “the Company”) is pleased to announce the Company has entered into anagreement in principle for the exclusive mining rights to a near-term producinggold mine located approximately 10 kilometers from the Company’s existing,wholly-owned, Cherry Hill Gold Mine.  

Themine is held by a private American Trust and consists of two patented loadclaims. The agreement provides Silver Sun with the exclusive underground miningrights for 20 years with a one time payment of US $25,000 and a 10% Net ProfitsInterest on all production. The Company has been granted two months to completedue diligence, which is intended to include detailed sampling and if required,mini bulk sampling.  The private trusthas held the property for approximately 60 years and historical assays providedto the Company from the mine (non 43-101 compliant) ranged from 1.6 to 18.0oz/T.  Initial grab samples taken fromthe mine and run at the Company’s lab (not ISO or 43-101 compliant) confirmedsimilar grades.

 “This is an important step for the Company aswe plan on having additonal properties at various stages of development suchthat we can ensure continued growth over the coming years.   We have evaluated a number of propertiesnear Cherry Hill and this mine is the first that we have targeted”, stated MarkMcLeary, president and CEO of Silver Sun. “We will apply all of the lessons learned from putting the Cherry Hillmine into production towards the evaluation and, potentially, the advancementtowards production on this new property. As the mine is on patented land permitting requirements may be much lessintensive than it was for Cherry Hill.”

 

IanForeman, P. Geo, is the Company’s Qualified Person as defined by NationalInstrument 43-101, who is responsible for monitoring the supervision andquality control of Silver Sun’s sampling programs and who has reviewed andverified the technical information contained in this news release.

AboutSilver Sun Resource Corp.

Silver Sun ResourceCorp. is a Canadian-based resource company focused on the acquisition,exploration and development of precious metal deposits in North America. TheCompany is in the production stage with its gold project in Yreka, Californiaand engaged in an on-going work program on the Zacatecas, Salvador, and MinaSan Jose properties located within the prolific Zacatecas Silver District inMexico, as well as its Yoreme Silver Project in the mining district of Alamos,Sonora State, Mexico. The Company has an experienced management team with agrowth strategy to develop a diversified portfolio of mining projects that canbe taken to production in the near-term. The company’s design is to addshareholder value through efficient exploration, strategic acquisitions andeffective marketing while maintaining a low risk profile through projectdiversification and sound financial management.

 

ONBEHALF OF THE BOARD OF DIRECTORS

“MarkA. McLeary”

President

Forward Looking Statements

This news release contains statements that constitute”forward-looking statements” within the meaning of Section 21E of theUnited States Securities Exchange Act of 1934 and “forward lookinginformation” within the meaning of applicable Canadian provincial securitieslegislation (collectively, “forward-looking statements”).Forward-looking statements often, but not always, are identified by the use ofwords such as “seek”, “anticipate”, “believe”,”plan”, “estimate”, “expect”,”targeting” and “intend” and statements that an event orresult “may”, “will”, “would”,”should”, “could”, or “might” occur or beachieved and other similar expressions. Forward-looking statements in this newsrelease include statements regarding the timing and nature of permittingapprovals, the timing and nature of infrastructure developments andconstruction, completion of project milestones, projections of futureoptimization, the timing of negotiations with third parties, and the timing andnature of production timeline targets which are dependent on projections whichmay change as testing and processing continues.

Theforward-looking statements that are contained in this news release are based onvarious assumptions and estimates by Silver Sun and involve a number of risksand uncertainties. As a consequence, actual results might differ materiallyfrom results forecast or suggested in these forward-looking statements.Forward-looking statements involve known and unknown risks, uncertainties, assumptionsand other factors that may cause the actual results, performance orachievements of Silver Sun to be materially different from any future results,performance or achievements expressed or implied by the forward-lookingstatements. Factors that could cause the actual results to differ include;risks relating to fluctuations in the price of gold; the inherently hazardousnature of mining-related activities; uncertainties concerning  resourceestimates; results of exploration, availability of capital and financing onacceptable terms, inability to obtain required regulatory approvals,unanticipated difficulties or costs in any rehabilitation which may benecessary, market conditions and general business, economic, competitive,political and social conditions. These statements are based on a number ofassumptions, including assumptions regarding general market conditions, timingand receipt of regulatory approvals, the ability of Silver Sun and otherrelevant parties to satisfy regulatory requirements, the availability offinancing for proposed transactions and programs on reasonable terms and theability of third-party service providers to deliver services in a timelymanner. Although Silver Sun has attempted to identify important factors thatcould cause actual results to differ materially from those expressed or impliedin forward-looking statements, there may be other factors which cause actualresults to differ. Forward-looking statements contained herein are made as ofthe date of this news release and Silver Sun disclaims any obligation to updateany forward-looking statements, whether as a result of new information, futureevents or results or otherwise, except as required by applicable securitieslaws. There can be no assurance that forward-looking statements will prove tobe accurate, as actual results and future events could differ materially fromthose anticipated in such statements. Accordingly, readers should not place unduereliance on forward-looking statements.

NeitherTSX Venture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) accepts responsibility forthe adequacy or accuracy of this release.

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/SSUXF/news?id=52245

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