Vancouver, British Columbia CANADA, May 03, 2012 /FSC/ – Silver Sun Resource Corp. (SSU – TSX Venture, SSUXF – OTCBB), (“Silver Sun” or “the Company”) is pleased to provide an update on its mining activities at the Cherry Hill gold mine in Yreka, California as well as continued exploration work programs at the Yoreme project in Sonora State, Mexico and Zacatecas project in Zacatecas State, Mexico.
Cherry Hill, California
To date, the Company has extracted approximately 2,000 tons of mineralized rock from the Cherry Hill gold mine. The Company intends to run 400 tons of material through the Grants Pass, Oregon mill in May to continue to determine the best methods for optimal recovery.
Proceeds from the recently announced private placement (see news release dated April 3rd, 2012) will be used to expand the main working (Q4- drift) at Cherry Hill to ten feet by ten feet and to purchase additional equipment such that mining will be trackless with the goal of increasing the mining rate to 1,000 to 3,000 tons per month. This expansion is expected to take up to 4 weeks and the Company anticipates commencing production of a minimum of 1,000 tons per month in June.
Yoreme, Mexico
Field work at Yoreme has been successful in delineating extensions if the San Manuel vein along strike as soil surveys show multi-element anomalies along strike in both directions indicating that the strike length of the vein could be as much as one kilometre. Sampling of workings in the southern portion of the San Manuel vein returned the following results:
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Location Sample width (m) Ag (g/t)
Tiro 56 Channel 0.7 66.9
Dump dump 208.1
Dump dump 271.9
Tiro Jaime Channel 3.3 102.0
incl. 2.1 147.1
incl. 1.3 179.3
Obra San Manuel Channel 4.35 198.0
incl. 1.8 316.5
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13 line kilometres of geophysics identified an approximately 300 by 400 metre large chargeability anomaly immediately southwest of the San Manuel vein as well as a linear anomaly near the centre of the property. Follow up field work has yet to determine the cause of the larger anomaly, however work in the immediate vicinity of the linear anomaly resulted in the discovery of at least 3 sub parallel veins. These other veins are hosted within the intrusive as opposed to the San Manuel vein that is hosted within the contact of the intrusive and volcanic rocks.
Work at Yoreme was performed under contract by Minera Alta Vista S.A. de C.V., a subsidiary of Yale Resources Ltd. (YLL-V) with whom the Company completed its original Qualifying Transaction in Zacatecas.
Zacatecas, Mexico
The Company is in ongoing discussions with its joint venture partner in order to transfer 100% of the titles of the concessions into the Company’s Mexican subsidiary.
Ian Foreman, P. Geo, is the Company’s Qualified Person as defined by National Instrument 43-101, who is responsible for monitoring the supervision and quality control of Silver Sun’s sampling programs and who has reviewed and verified the technical information contained in this news release.
About Silver Sun Resource Corp.
Silver Sun Resource Corp. is a Canadian-based resource company focused on the acquisition, exploration and development of precious metal deposits in North America. The Company is in the production stage with its gold project in Yreka, California and engaged in an on-going work program on the Zacatecas, Salvador, and Mina San Jose properties located within the prolific Zacatecas Silver District in Mexico, as well as its Yoreme Silver Project in the mining district of Alamos, Sonora State, Mexico. The Company has an experienced management team with a growth strategy to develop a diversified portfolio of mining projects that can be taken to production in the near-term. The company’s design is to add shareholder value through efficient exploration, strategic acquisitions and effective marketing while maintaining a low risk profile through project diversification and sound financial management.
ON BEHALF OF THE BOARD OF DIRECTORS
“Mark A. McLeary”
President
Forward Looking Statements
This news release contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934 and “forward looking information” within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”). Forward-looking statements often, but not always, are identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “targeting” and “intend” and statements that an event or result “may”, “will”, “would”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking statements in this news release include statements regarding the timing and nature of permitting approvals, the timing and nature of infrastructure developments and construction, completion of project milestones, projections of future optimization, the timing of negotiations with third parties, and the timing and nature of production timeline targets which are dependent on projections which may change as testing and processing continues.
The forward-looking statements that are contained in this news release are based on various assumptions and estimates by Silver Sun and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Silver Sun to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning resource estimates; results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of Silver Sun and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although Silver Sun has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ. Forward-looking statements contained herein are made as of the date of this news release and Silver Sun disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
