Silver Shield Resources Corp. Announces Non-Brokered Private Placement to Raise $500,000 for Exploration Program on its Welsh Silver Mine and Lost Dog Gold Project

BURLINGTON, ON, Dec. 23 /CNW/ - Silver Shield Resources Corp. (TSXV - SSR) ("Silver Shield" or "the Company") is pleased to announce that it is arranging a non-brokered private placement (the "Private Placement") to raise $500,000 through the issuance of 8,333,333 flow-through units (each a "Flow-Through Unit"). Each unit will consist of one common share in the capital of the Company, to be issued at $0.06 per Flow-Through Unit on a flow-through basis under the provisions of the Income Tax Act (Canada), and one-half common share purchase warrant. Each full warrant will have a term of 24 months from the date of issuance (the "Expiry Date") and will entitle the holder to purchase one common share of the Company at an exercise price of $0.15 per share at any time until the Expiry Date.

The Company will use the funds for diamond drilling on the Welsh Silver Mine Project, Elk Lake, Ontario, the exploration of the Lost Dog Gold Project, Timmins, Ontario and in connection with exploration of any additional projects the Company may acquire.

The Company will pay a finder's fee to arm's length parties in connection with the Private Placement, in cash and/or securities of the Company, in accordance with the policies of the TSX Venture Exchange. The Private Placement and the payment of any finder's fees in connection with the Private Placement are subject to the approval of the TSX Venture Exchange

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined on the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Company Management, which takes full responsibility for content, prepared this news release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the diamond drilling programm on the Company's Scadding project. All statements in this news release, other than statements of historical facts, which address future production, reserve potential, exploration activities and events or developments that the Company expects, are forward‐looking statements.

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ability to complete its development work as expected. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's continued development work, technical, safety or regulatory issues, market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct and actual results or developments may differ materially from those projected in the forward‐looking statements. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.



For further information:

please visit www.silvershieldresources.com or contact:
Silver Shield Resources Corp.
Donald Shaxon, Manager of Corporate Development, (289) 838-5936
Tim Towers, Chief Executive Officer, Phone: 289-337-6162
Fax: 289-337-6678 silvershield@cogeco.net