Silver Spruce acquires Jackie Gold-Silver Project in full, strengthening its exploration portfolio in northern Mexico. The company executed an amended agreement with Colibri Resource Corporation, securing the remaining 50% stake in the Jackie Au-Ag Project and attaining 100% ownership.

Strategic Transaction Overview

Under the terms agreed on 12 November 2025, Silver Spruce Resources Inc. (CSE: SSEBD) will issue 166,667 common shares to Colibri Resource Corporation at $0.15 per share, reflecting the share price as of 10 November 2025. Additionally, Colibri will retain a 1% Net Smelter Return (NSR) royalty on future production from the project.

This acquisition aligns with Silver Spruce’s objective of holding full operational control over high-potential, early-stage assets in low-risk jurisdictions. The 100% ownership status offers the company increased flexibility in advancing exploration and structuring potential future partnerships.

“Full ownership of the Jackie Project enables a cleaner asset structure and streamlines our strategy for exploration and potential future development,” commented Greg Davison, P.Geo., VP Exploration and Director.

Exploration Programme Initiated

The Jackie Project, situated in the Sonora region of Mexico, lies approximately 10 kilometres northwest of Minera Alamos’ Nicho gold deposit. The site features promising geology, including epithermal-style gold and silver mineralisation hosted in brecciated volcanic rocks.

Highlights from earlier surface sampling include:

• Rock chip assays of up to 9.65 g/t gold and 514 g/t silver
• Defined gold and silver anomalies across a 500-metre structural corridor
• Presence of quartz veining and hydrothermal breccias with associated alteration

Silver Spruce is currently finalising an updated environmental report for submission to SEMARNAT, Mexico’s environmental authority, to support its request for exploration permitting.

Pending approval, the company plans to conduct a 500–1,000 metre trenching programme, followed by a 1,000–2,000 metre reverse circulation (RC) drilling campaign. These works aim to test priority targets defined through surface sampling, mapping, and geophysical surveys.

Asset Portfolio and Strategic Positioning

Beyond Jackie, Silver Spruce’s broader asset base includes:

• Pino de Plata Project (Option to earn 100%): a high-grade silver property in Chihuahua, 15 km from Coeur Mining’s Palmarejo mine.
• Melchett Lake Project (100% owned): a VMS polymetallic target in Ontario with historical drilling results.

The company continues to assess further acquisition or joint venture opportunities aligned with its technical and financial objectives.