SNS Silver Corp. has entered into a Letter of Intent pursuant to which SNS has received the exclusive option to acquire 100% of Northern Nickel Mining Inc.’s interest in the Golden Rose Mine consisting of 15 mining leases and 31 mining claims located in Afton and Scholes Townships in the Sudbury Mining District of. Ontario. The property is developed by, 5 levels off of a vertical shaft to 750 feet, and 2 levels off of an inclined winze to 1000 feet. All of the past production took place above 700 foot elevation. The deepest intercept recorded on the property cut 84 feet of 14 g/pt AU below 1000 feet vertically, with many other high-grade drill intersections (0.25-0.35 OPT) located between the 600 foot elevation and the lowest level at 1000 foot elevation. Ramp development reaches to about 800 feet vertically providing good access to evaluate the high-grade areas. The project is easily accessible by highway 805, and has much existing site infrastructure that will be of benefit to advancing the project.

SNS Silver Corp. and Syringa Exploration Inc. announced the signing of a letter of intent to enter into a Joint Venture Agreement to reopen SNS Silver's wholly-owned Crescent Silver Mine in Idaho's famed Silver Valley for development, exploration and production. Under terms of the Agreement, Syringa will expend $2,000,000 in each of the first two years of the Agreement, and $4,160,000 in the third year toward continued exploration and development of the Crescent Mine for a total of $8.16 million, earning Syringa a 50% interest in the Crescent Silver Mine at the end of the third year. Additionally, Syringa will issue 900,000 shares of its stock to SNS. Syringa also will have the right to purchase an additional 1% of the Joint Venture by making an additional payment of $200,000 to SNS.

SNS Silver Corp. continues to advance the Crescent Mine (Silver Valley, Idaho) towards production. Resource development costs and scheduling are nearly complete with metallurgical research currently underway. Custom milling opportunities for Crescent ore are currently being investigated with several local mining companies. Historical milling information of Crescent ores, along with recent metallurgical test data, will provide useful information as to the future processing requirements. SNS Silver is anxiously anticipating the next phase of the Crescent project; developing and expanding the resource by means of new raises, drifts, ramps, and boreholes.