Silver Sun Acquires Additional Interest in Cherry Hill Gold Mine
12.05.2011 | Business Wire
About Silver Sun Resource Corp. 'Mark A. McLeary? Forward Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as Silver Sun Resource Corp.
Silver Sun Resource Corp. ('Silver Sun? or 'the Company?) is pleased to
announce that the Company has increased its interest in the Cherry Hill
Mining Company to a total of 68.15% by acquiring an additional 17.15%
interest.
In consideration for the additional 17.15% interest, the Company has
agreed to issue 500,000 shares of Common Stock of the Company subject to
obtaining all applicable regulatory, corporate approvals and consents,
including the consent of the TSX Venture Exchange.
'With this increased ownership, Silver Sun gains a greater percentage of
the potential profit of the mine as well as we now have control over
mining and exploration activities,? states Silver Sun president Mark
McLeary.
Silver Sun Resource Corp. is a Canadian-based resource company focused
on the acquisition, exploration and development of precious metal
deposits in North America. The Company is engaged in an on-going work
programme on the Zacatecas, Salvador, and Mina San Jose properties
located within the prolific Zacatecas Silver District in Mexico, as well
as its newly acquired Yoreme Silver Project in the mining district of
Alamos, Sonora State, Mexico. The Company has an experienced management
team with a growth strategy to develop a diversified portfolio of mining
projects that can be taken to production in the near-term. The company's
design is to add shareholder value through efficient exploration,
strategic acquisitions and effective marketing while maintaining a low
risk profile through project diversification and sound financial
management.
ON BEHALF OF THE BOARD OF DIRECTORS
President
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Mark McLeary, 604-678-2531