Silverstone Resources Corp. ("Silverstone") (TSX VENTURE: SST) is pleased to announce updated 2007 year end Mineral Reserve and Mineral Resource estimates for Lundin Mining Corp.'s (Lundin) Neves-Corvo mine located in Portugal. A National Instrument 43-101 compliant technical report has been prepared for Silverstone by Qualified Person, Mr. Neil Burns P.Geo., Lundin's Corporate Resource Geologist. This report titled "Resource and Reserve Update Neves-Corvo, Portugal Prepared for Silverstone Resources Corp." dated May 2008 will be filed on www.sedar.com within 45 days.

Silver contained in proven and probable reserves at Neves-Corvo has increased by over 130% to 91.6 million ounces from 39.3 million ounces in 2006. Silver contained in Measured plus Indicated resource categories, which includes reserves, has increased by 67% to 148.8 million ounces from 89.3 million in 2006. The 2006 resource and reserve estimates were detailed in the previous technical report prepared by Wardell Armstrong International Limited entitled "Technical Report on the Neves Corvo Mine, Southern Portugal" dated October 10, 2007 and filed on www.sedar.com.

The increases in resources and reserves at Neves-Corvo are primarily a result of exploration success, improvements in estimation methods and the lowering of cut-off grades. A large portion of the increase results from the first time reporting of Measured and Indicated resources and Proven and Probable reserves for the Lombador South zinc orebody which has been the focus of an extensive surface exploration program by Lundin.

Silverstone purchased all the silver production from Lundin's Neves-Corvo producing mine in Portugal for life of mine.

The following tables set forth the Silverstone updated estimated Proven and Probable Reserves and the Mineral Resources for the Neves-Corvo Mine as of December 31, 2007.