head office investor relations by housework


More Info

    Silver Spruce Resources & Universal Uranium Intersect Uranium Mineralization at
                                    Two Time Zone

                      - Uranium mineralization intersected in four of five drill holes
                      - Values to 0.13 % U3O8 over 1.6 meters

January 4, 2007, Bridgewater, NS & Vancouver, BC -- Silver Spruce Resources Inc. (TSXV: SSE) and
Universal Uranium Ltd. (TSXV: UUL) are pleased to announce that they have intersected uranium
mineralization in four of the five holes drilled in December on the Two Time Zone, located on the CMB
Northwest claim block east of Snegamook Lake. A total of 812 meters were drilled during this program.

All four holes gave narrow zones grading over 0.1% uranium oxide (U3O8) within wider zones of lower grade
mineralization. The best mineralization was located in the southern portion of the grid at drill hole CMB-06-3
where two sections graded 0.13% U3O8 over 1.6 meters from a depth of 100.8 to 102.4 meters, and over 1.4
meters, from a depth of 106.1 to 107.5 meters. The mineralized zone appears to be cut off to the north,
possibly by faulting, but remains open to the south where anomalous soil geochemistry indicates the zone may
continue under a small pond. Mineralization is associated with a brecciated/fractured felsic intrusive with
extensive chlorite and hematite alteration that is at least 50 meters wide.

“We are pleased with these initial results which indicate that a strong uranium mineralized system exists on
the property,” stated Lloyd Hillier, President & CEO of Silver Spruce Resources. “The success of this early
stage drill program shows that we are very likely close to a new uranium discovery.”

The drilling targeted an anomalous radioactive zone, the Two Time Zone, covering an area of 300 meters by
50 meters. Channel/chip sampling in November gave anomalous values in all trenches with the highest grades
located in Trench 5 which gave 0.032% U3O8 over five meters, including 0.051% U3O8 over one meter. Grades
from the drilling are higher than those located in the trench/channel sampling. The locations of the drill holes
and the selected analytical values for sections sampled are shown in the table below and the map can be
viewed on the company website at: www.univeraluranium.com. The drill remains onsite in preparation for
further drilling during the winter of 2007.

Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited
laboratory, using the delayed neutron activation technique, which gives good results for samples carrying up
to one percent uranium.

This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce
Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
                                    ANALYTICAL RESULTS – Selected Samples
                                Diamond Drilling – CMBNW Property – Two Time Zone

                                  DDH #          From        To        length     % U3O8
                                 CMB-06-1           41.7       44.8      3.1        0.0494
                                      “ incl.       42.9       43.1      0.2           0.14
                                    “               44.8       47.2      2.4        0.0345
                                      “ incl.       44.8       46.3      1.5        0.0461
                                    “               49.1       54.3      5.2        0.0347
                                      “ incl.       51.3       53.3      2.0        0.0546
                                    “               67.6       67.8      0.2        0.0862
                                 CMB-06-2           93.7       94.9      1.2        0.0304
                                    “              126.2      126.6      0.4         0.104
                                    “              136.1      139.9      3.8        0.0394
                                    “              148.7      151.1      2.4        0.0277
                                 CMB-06-3           86.8       90.5      3.7        0.0542
                                    “               91.8       94.7      2.9        0.0525
                                    “              100.8      102.4      1.6           0.13
                                    “              106.1      107.5      1.4           0.13
                                    “              159.8      161.9      2.1        0.0766
                                 CMB-06-4            No     Samples    Taken
                                 CMB-06-5           46.0       46.5      0.5         0.089
                                    “               48.9       49.4      0.5         0.067
                                                    52.6       53.6      1.0        0.0775
                                                    55.0       56.0      1.0        0.0577
                                                    73.2       73.8      0.6        0.0428
                                                    80.0       81.3      1.3        0.0437
                                                    84.2       85.1      0.9        0.0386
                                                    88.8       89.1      0.3        0.0636
                                                    89.5       90.1      0.6        0.0409
                                                    97.2       97.5      0.3        0.1639
                                                   102.8      103.2      0.4        0.0367

Samples were taken based on anomalous total count scintillometer values on individual core samples, away from any
mass effect. Samples are not continuous and sampled/unsampled core, with lower scintillometer readings, lies between
the sampled sections. All core samples in the vicinity of mineralized zones will be sent for analysis early in the new year
to allow a calculation of total grades over the total drilled width of the zone. The orientation of the zone, and therefore
the true width of the drill intersections, remains unknown at this time.

The CMB Northwest block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture
previously announced.

Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company primarily focused on uranium in
the Central Mineral Belt (CMB) of Labrador, Canada. With over 8,500 claims totaling more than 2,100 square
kilometers, Silver Spruce is the second largest landholder in one of the world’s premier emerging uranium
districts. In the summer of 2006, a large-scale exploration program resulted in the first uranium discovery in
early-stage follow-up of airborne surveys. With experienced partners and strong financial backing, Silver
Spruce is emerging as a leading uranium explorer in Labrador.
Universal Uranium Ltd. (TSXV:UUL) is a publicly held Canadian uranium exploration company focused on
acquiring, exploring and developing uranium properties located in favorable geo-political climates. The
Company is led by a highly skilled, experienced board and management team with significant successes in
managing early stage mineral exploration companies.

For Further Information Contact:

HEAD OFFICE                                              INVESTOR RELATIONS
Gordon Barnhill, CFO & Director                          Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 902.527.5700                                      Phone: 604.684.4743 ext. 231
Fax: 902.527.5711                                        Toll Free: 1.866.684.4743 ext. 231
E-mail: gbarnhill@silverspruceresources.com              E-mail: keir@ascentacapital.com
Web: www.silverspruceresources.com                       Web: www.ascentacapital.com

HEAD OFFICE:                                             INVESTOR RELATIONS
Clive Massey, CEO & Director                             Bill Galine, Director of Corporate
Phone: 604.662.3903                                      Phone: 604.662.3903 ext 106
Fax: 604.662.3904                                        E-mail: bgaline@universaluranium.com
Email: cmassey@universaluranium.com                      Web: www.universaluranium.com

To top