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FSC / Press Release
Silver Sun to Acquire Exclusive Mining Rights to Near-term Producer
Vancouver, British Columbia CANADA, September 06, 2012 /FSC/ - Silver Sun Resource Corp. ("Silver Sun" or "the Company") (SSU - TSX Venture, SSUXF - OTCBB),is pleased to announce the Company has entered into an agreement in principle for the exclusive mining rights to a near-term producing gold mine located approximately 10 kilometers from the Company's existing, wholly-owned, Cherry Hill Gold Mine.
The mine is held by a private American Trust and consists of two patented load claims. The agreement provides Silver Sun with the exclusive underground mining rights for 20 years with a one time payment of US $25,000 and a 10% Net Profits Interest on all production. The Company has been granted two months to complete due diligence, which is intended to include detailed sampling and if required, mini bulk sampling. The private trust has held the property for approximately 60 years and historical assays provided to the Company from the mine (non 43-101 compliant) ranged from 1.6 to 18.0 oz/T. Initial grab samples taken from the mine and run at the Company's lab (not ISO or 43-101 compliant) confirmed similar grades.
"This is an important step for the Company as we plan on having additonal properties at various stages of development such that we can ensure continued growth over the coming years. We have evaluated a number of properties near Cherry Hill and this mine is the first that we have targeted", stated Mark McLeary, president and CEO of Silver Sun. "We will apply all of the lessons learned from putting the Cherry Hill mine into production towards the evaluation and, potentially, the advancement towards production on this new property. As the mine is on patented land permitting requirements may be much less intensive than it was for Cherry Hill."
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
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FSC / Press Release
Silver Sun to Acquire Exclusive Mining Rights to Near-term Producer
Vancouver, British Columbia CANADA, September 06, 2012 /FSC/ - Silver Sun Resource Corp. ("Silver Sun" or "the Company") (SSU - TSX Venture, SSUXF - OTCBB),is pleased to announce the Company has entered into an agreement in principle for the exclusive mining rights to a near-term producing gold mine located approximately 10 kilometers from the Company's existing, wholly-owned, Cherry Hill Gold Mine.
The mine is held by a private American Trust and consists of two patented load claims. The agreement provides Silver Sun with the exclusive underground mining rights for 20 years with a one time payment of US $25,000 and a 10% Net Profits Interest on all production. The Company has been granted two months to complete due diligence, which is intended to include detailed sampling and if required, mini bulk sampling. The private trust has held the property for approximately 60 years and historical assays provided to the Company from the mine (non 43-101 compliant) ranged from 1.6 to 18.0 oz/T. Initial grab samples taken from the mine and run at the Company's lab (not ISO or 43-101 compliant) confirmed similar grades.
"This is an important step for the Company as we plan on having additonal properties at various stages of development such that we can ensure continued growth over the coming years. We have evaluated a number of properties near Cherry Hill and this mine is the first that we have targeted", stated Mark McLeary, president and CEO of Silver Sun. "We will apply all of the lessons learned from putting the Cherry Hill mine into production towards the evaluation and, potentially, the advancement towards production on this new property. As the mine is on patented land permitting requirements may be much less intensive than it was for Cherry Hill."
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