SNS Silver Closes Private Placements


    TSX-V Trading Symbol: SNS

    VANCOUVER, June 7 /CNW/ - SNS Silver Corporation (TSX-V: SNS) ("SNS")
announces the closing of the previously announced brokered private placement,
and a portion of the non-brokered private placement totaling 9,799,700 units
(the "Units") at a price of $1.25 per Unit (the "Offering") for gross proceeds
of $12,249,625. Each Unit consists of one common share of the Company (a
"Share") and one-half of a transferable common share purchase warrant (a
"Warrant"). Each full Warrant is exercisable into one additional Share for a
period of 18 months following closing at an exercise price of $1.50. The net
proceeds from the Offering are intended for further surface and underground
exploration, including drifting and cross-cutting, along with general
corporate purposes and working capital.
    The brokered private placement of 6,000,000 Units was led by Pacific
International Securities Inc, and included Research Capital Corporation, as
agents (the "Agents"). As consideration for acting as agent, the Agents
received a commission equal to 7.0% of the gross proceeds of the brokered
portion of the Offering, paid in a combination of cash and Units. In addition,
the Agents received compensation options equal to 7.0% of the number of Units
sold under the brokered portion of the Offering. Each compensation option
entitles the Agents to purchase one Share at a price of $1.30 for a period of
18 months following the closing of the Offering.
    A finders' fee was paid on a portion of the non-brokered placement of
3,799,700 Units. All securities issued in the Offering will have a hold period
until October 7th, 2007. The remainder of the previously announced
non-brokered private placement will be closed at a later date.
    "SNS also confirms that Silver Wheaton Corp. ("Silver Wheaton") has
acquired 1,100,000 Units of the non-brokered private placement. Following the
closing of this Offering, Silver Wheaton owns approximately 11.3% of the
issued and outstanding shares of SNS."

    SNS Silver Corp. owns 100% of the Crescent Mine in the Coeur d'Alene
mining district. The Crescent Mine is a historic high-grade silver producer.
From 1917-1982 the property produced 25 million ounces of silver at an average
grade of 27.3 ounces per ton. Prior to its last shut down in the 80's,
previous operators of the Crescent Mine reported over 9 million ounces of
silver resources at an average grade of 18 ounces per ton. The property lies
between two world-class silver producers: the Sunshine mine which has produced
more than 300 million ounces of silver and the Bunker Hill mine, which has
produced over 150 million ounces of silver. The Coeur d'Alene district is the
only known mining district in North America to have produced over 1 billion
ounces of silver. SNS Silver (SNS) trades on the TSX-V under the symbol SNS.
The Company has approximately 39.1 million shares outstanding and
approximately $20.1 million cash on hand.
    All resource estimates quoted herein are based on data and reports
obtained and prepared by previous operators. The Company has not completed the
work necessary to independently verify the classification of the mineral
resource estimates and is not treating the mineral resource estimates as
National Instrument 43-101 defined resources verified by a qualified person.
The historical estimates should not be relied upon. The Crescent Mine will
require considerable further evaluation, which the Company's management and
consultants are in the process of completing.

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

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from registration is available.

For further information:

For further information: SNS Silver Corp., David Greenway, Vice
President, Corporate Development, (604) 689-0896 or Toll Free 1-800-663-4567,
Email:, Website:

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