Silver Shield completes Jaripo agreement

    BURLINGTON, ON, Aug. 11 /CNW/ - The final Option Agreement has now been
signed for Silver Shield to acquire a 100% interest, in the Jaripo Property in
Michoacan State, Mexico, for a total of $US 2,000,000 payable as follows:

    -   $25,000 upon signing of the formal agreement
    -   $25,000 after 6 months
    -   $50,000 after 12 months
    -   $75,000 after 24 months
    -   $1,825,000 after 36 months

    The Jaripo Property now covers a total of 2,950 Ha dominated by a
north-south trending fault that has been traced for over 10 kilometres. In the
central portion of the fault a 2 meter wide carbonate-quartz vein which hosts
the main mineralization, is between sediments on the east and an 8 meter wide
carbonate altered felsic dyke to the west. This mineralization has been traced
semi-continuously on surface for over 1,200 metres by a series of old mine
workings including shafts, pits and adits. Work planned for 2009 includes,
line cutting, mapping, sampling, geophysics and a targeted diamond drilling
program intended to outline near-surface mineralization in the area of the
historic mine workings that would allow for potential near term mine
production. Sampling by Silver Shield returned assays ranging from 43 g/t Ag
up to 1,018 g/t Ag in grab samples.
    The El Carmen Concession, in Mexico, continues to be pursued by the
Company, and the Vendors are waiting for proper title to be provided, to
complete this option agreement.
    Ms. B. R Robertson CMA, has been appointed Chief Financial Officer and
Corporate Secretary of the Company. Ms. Robertson has over 30 years of
management experience with Thermadyne Products, a multi national corporation,
including extensive financial experience in Mexico.
    The Annual and Special Meeting of shareholders was held on June 30, 2009,
and over 33 per cent of outstanding shares were voted and over 98 per cent
were in favour of Management and supported re-election of the four current
directors, approved the issuance of stock options and approved the re
appointment of N.R. McLeod of North Bay Ontario as auditors. A resolution to
resolve up to $600,000 of debt, by way of issuance of common shares at a price
of $0.10 per share, was also approved. The share issuance will be offered to
creditors pending TSX-V approval, which has not been applied for at this time.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release

    %SEDAR: 00024773E

For further information:

For further information: please visit or
contact: Silver Shield Resources Corp., Tim D. Towers, President and CEO, Tel:
(289) 337-6162, Email:; To receive Company press
releases, please email "Silver Shield" on the subject

Organization Profile

Silver Shield Resources Corp.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890