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Silver Shield Completes Flow-Through Offering with the MineralFields Group and Union Securities

^{Published on 2009-12-31 09:20:16 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Dec. 31, 2009) - Silver Shield Resources Corp. (TSX VENTURE:SSR) (the "Company") is pleased to announce that it has completed a fully-subscribed private placement of units ("Units") at a price of $0.09 per Unit for gross proceeds of $360,000 (the "Offering"). Each Unit consists of one flow-through common 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.

The Company paid $23,800 in finder's fees and issued 264,444 finder's warrants ("Finder's Warrants), in the aggregate, to Limited Market Dealer Inc. (an affiliate of MineralFields) and Union Securities Ltd. for participating 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.

Tim D. Towers, President and CEO of the Company, remarked: "This is an important milestone in the growth of Silver Shield Resources. We have enjoyed working with the MineralFields Group and Union Securities on this Offering and look forward to their continued support as we develop our holdings in West Timmins, Ontario."

About MineralFields, Pathway and First Canadian Securities ^®

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at [ www.mineralfields.com ]. First Canadian Securities ^® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ^®.

FORWARD-LOOKING STATEMENTS

This press release may contain certain "forward-looking statements," including, without limitation, statements regarding 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.