Silver Spruce Resources Updates on Jackie and Diamante Projects

On May 5, 2026, Silver Spruce Resources Inc. shared an update about its Jackie and Diamante projects in Sonora, Mexico. As previously disclosed, Silver Spruce is set to acquire Colibri Resource Corporation's 50% ownership in the Jackie Au-Ag property. This 1,130-hectare property lies within a volcanic complex in northern Mexico, surrounded by active mining projects. The acquisition involves issuing C$25,000 of common shares and a 1% net smelter return royalty to Colibri, subject to TSX Venture Exchange approval.

Additionally, Silver Spruce will relinquish its 25% interest in the Diamante Project to Colibri. This deal forgives C$80,000 in exploration expenses owed to Colibri. Approval from the TSX Venture Exchange remains pending for both transactions. Kevin O'Connor, a director at both companies, abstained from voting due to a conflict of interest.