N@N

Silver Shield Announces Proposed Flow-Through Offering

^{Published on 2009-12-23 15:20:05 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Dec. 23, 2009) - Silver Shield Resources Corp. (TSX VENTURE:SSR) (the "Company") announced today that it intends to complete a non-brokered private placement of units ("Units") at a price of $0.09 per Unit for gross proceeds of up to $360,000 (the "Offering"). Each Unit will consist of one flow-through common share ("Flow-Through Share") and one-half of one common share purchase warrant ("Warrant"), with each whole Warrant being exercisable into one common share within 24 months of closing at an exercise price of $0.20.

The proceeds of the Offering will be used to incur Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada), primarily at the Company's recently-acquired West Timmins area gold properties.

Eligible securities dealers participating in the Offering will be entitled to receive a 7% cash finder's fee, together with such number of finder's warrants ("Finder's Warrants") as is equal to 7% of the Units sold pursuant to the Offering. Each Finder's Warrant will be exercisable into one common share within 24 months of closing at an exercise price of $0.10.

The securities issued pursuant to the Offering will be subject to a four-month hold period in accordance with Canadian securities laws.

Subject to regulatory (including TSX Venture Exchange) approval, the Offering is expected to close on or before December 31, 2009.

FORWARD-LOOKING STATEMENTS

This press release may contain certain "forward-looking statements," including, without limitation, statements regarding (i) the Company's ability to complete the proposed Offering on the proposed terms or at all and (ii) the 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.