SNS Silver Corporation Announces a Non-Brokered Private Placement With the MineralFields Group

VANCOUVER, BRITISH COLUMBIA, Dec 30, 2009 (Marketwire via COMTEX News Network) --

SNS Silver Corporation ("SNS" or the "Company") (TSX VENTURE:SNS) is pleased to announce that it has agreed to enter into a non-brokered private placement of $1,000,000 through the sale of 4,347,826 flow-through units at a price of $0.23 per unit to subscribers associated with MineralFields Group. Each flow-through unit will consist of one common share of the capital stock of the Company, and one-half of one transferable non-flow-through share purchase warrant which will allow the holder to purchase one common share of the capital stock of the company at an exercise price of $0.40 per common share in year 1 and $0.45 per common share in year 2, subject to early acceleration provisions.

A finder's fees will be payable with respect to the placement consisting of a 5% cash finder's fee, a 1% finder's fee in the form of units and 2 year non-flow-through finder's fee options equal to 7% of the number of units subscribed for at an exercise price of $0.23 per unit with each unit consisting of a common share and half warrant exercisable on the same terms as the unit half warrant.

The proceeds from the private placement will be used by the Company to advance the Company's recently acquired Emerald Lake Gold Project in Ontario, Canada.

"About MineralFields, Pathway and First Canadian Securities (R)"

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 (R) (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 (R).

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

SOURCE: SNS Silver Corp.