Announces Independent Resource Estimate for Crescent Project

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Announces Independent Resource Estimate for Crescent Project

posted on Apr 23, 2009 11:14AM

April 23, 2009

SNS Silver Announces Independent Resource Estimate for Crescent Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2009) - SNS Silver Corporation ("SNS" or the "Company") (TSX VENTURE:SNS) has completed a NI 43-101 resource estimate on its Crescent Property near Kellogg, Idaho. The mineral resource estimate is 6.1 million ounces of silver in the indicated category, and 4.1 million ounces of silver in the inferred category.

The resource blocks are located in two steep, narrow vein systems, the South vein and the Alhambra vein, that lie about one thousand feet apart. The resource blocks lie entirely above the main haulage level of the mine, and extend upward to near surface. Much of the historic production of 25 million ounces silver from the Crescent Mine has been from the Alhambra vein system at depth. The South vein has no production history, and the drilling completed to date indicates that the mineralization remains open at depth.

The following table presents a summary of the mineral resource estimate:

--------------------------------------------------------------------------
Resource                    Ag cutoff     Average      Total  Contained Ag
Category            Vein       oz/ton   Ag oz/ton       Tons     Ounces (M)
--------------------------------------------------------------------------
                Alhambra                     18.0     66,200           1.2
               ---------                ----------------------------------
Indicated          South         11.0        18.9    258,200           4.9
               ---------                ----------------------------------
                   Total                     18.7    324,400           6.1
               Indicated
--------------------------------------------------------------------------
                Alhambra                     16.0     65,500           1.0
               ---------                ----------------------------------
Inferred           South         11.0        21.0    145,600           3.1
               ---------                ----------------------------------
                   Total                     19.5    211,100           4.1
                Inferred
--------------------------------------------------------------------------

The resource estimation is based on block modeling of intercepts from one hundred diamond drill holes totaling 103,000 feet completed during 2007 and 2008. The grade estimate was completed using the inverse distance squared weighting algorithm within wire framed solids defining the vein limits.

The resources are classified in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) guidelines into the Indicated and Inferred categories. The resource classification is based predominantly on sample spacing relative to geologic and geo-statistical observations.

SNS's President and CEO, David Greenway, stated, "We are pleased with these initial resource numbers, as this resource is just the starting point for continued exploration at the Crescent. With the resource blocks identified, the next step we have begun is an internal scoping process to develop a sustainable production scenario."

Dr. Bart Stryhas, a Principal Resource Geologist with SRK Consulting (US) Inc.'s Denver Mining Group, constructed the geologic and resource model. He is responsible for the resource estimation methodology and resource statement. Dr. Stryhas is a qualified person and is independent of the issuer applying all of the tests in Section 1.4 of NI 43-101.

Lisa Hardy, L. Geo., Chief Geologist of the Crescent Project for SNS Silver Corp., is a qualified person as defined by NI 43-101 and has supervised the technical preparation of this press release.

SNS Silver Corporation (TSX VENTURE:SNS) is an exploration mining company, whose assets include a number of near term production projects in geopolitically secure Idaho, USA. The 100% owned Crescent Mine consists of 24 patented mining claims over approximately 350 acres. A comprehensive drill and mine rehabilitation program was completed in 2008 and production will supplement the company's operations at its recently acquired Sunshine Mine. These adjacent properties operated independently to produce nearly 400 million ozs of silver historically and their recent merger is expected to enhance exploration opportunities on their once disputed boundary. SNS also benefits from a partnership arrangement with Premium Exploration Ltd. to jointly develop two near term gold production projects in central Idaho; Buffalo Gulch and Friday/Petsite.

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