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Silver Shield Announcing Closing of Private Placement

^{Published on 2009-12-15 16:38:01 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Dec. 15, 2009) - Silver Shield Resources Corp. (TSX VENTURE:SSR) (the "Company") is pleased to announce that, subject to final TSX Venture Exchange approval, it has completed a private placement of 6,900,000 units ("Units") at a subscription price of $0.05 per Unit for aggregate gross proceeds of $345,000 (the "Offering"). Each Unit consists of one common share and one share purchase warrant (a "Warrant"), with each Warrant being exercisable into one common share within 24 months of closing at an exercise price of $0.10. The Company paid $19,280 in finder's fees and issued 265,600 finder's warrants ("Finder's Warrants) to registered securities dealers that participated in the Offering. Each Finder's Warrant is exercisable into one common share within 24 months of closing at an exercise price of $0.10. The securities issued pursuant to the Offering are subject to a four-month hold period in accordance with Canadian securities laws.

The proceeds of the Offering will be used to fund exploration of the Company's West Timmins-area properties; to consider accretive additions to the Company's existing property holdings in West Timmins and in Mexico; to continue the exploration and development of the Company's advanced exploration-stage silver properties in Mexico; and for general working capital.

FORWARD-LOOKING STATEMENTS

This press release may include certain "forward-looking statements," including, without limitation, statements regarding the Company's intended use of proceeds of the Offering. We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. The Company expressly disclaims any obligation to update any forward-looking statements except as may be required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.