Silver Spruce acquires Jackie Project

Silver Spruce Resources Inc. has provided an update on its acquisition of the remaining 50% ownership interest in the Jackie Project from AbraSilver Resource Corporation. The TSX Venture Exchange has approved Silver Spruce Resources' part of the acquisition, and the transaction is expected to close once AbraSilver Resource Corporation also obtains TSX Venture Exchange approval. Upon completion, Silver Spruce Resources will hold a 100% interest in the Jackie Project, an early-stage epithermal gold-silver property in Sonora, Mexico. The consideration for AbraSilver Resource Corporation's 50% interest includes C$25,000 worth of common shares in Silver Spruce Resources and a 1% Net Smelter Return royalty on future production from the Jackie Project. Kevin O Connor (physician), a director of both companies, abstained from voting on the transaction.