Silver Spruce Resources, Inc. Announces New Chief Financial Officer

BEDFORD, NS / ACCESS Newswire / August 10, 2026 / (TSXV:SSE) - Silver Spruce Resources, Inc. ("Silver Spruce" or the "Corporation") announces that its Board of Directors has approved the appointment of Kevin Thieneman as Chief Financial Officer, replacing Michael Kinley.

Mr. Thieneman previously worked as a Certified Public Accountant, and licensed attorney, in the State of Illinois. Mr. Thieneman was formerly the President of Caterpillar Inc. Forest Products Division, and an Officer of LiuGong Machinery, one of China's largest construction and mining equipment manufacturers with global sales and operations. He is a global executive with decades of experience in turnarounds of manufacturing operations and end-to-end businesses; and with extensive on-the-ground experience in China and India. He previously Chaired the U.S.-ASEAN Business Council infrastructure committee while leading delegations to Indonesia and Vietnam. Mr. Thieneman is a graduate of Duke University, Juris Doctorate, with honors. He currently serves on the Board of Directors of Plymouth Tube Company and on the Board of Advisors for Cornwell Capital; and is Chairman of the Corporation.

The Corporation would like to thank Mr. Kinley for his service as CFO and wishes him well in his future endeavours.

The Corporation announces changes to the Audit Committee, and is now comprised as follows: Kevin O'Connor (Chair), Lisa Ng (Member), Don Hunter (Member).

About Silver Spruce Resources

Silver Spruce Resources Inc. is a Canadian junior exploration company. The Company's diversified exploration portfolio includes:

• Pino de Plata Ag Project - High-grade silver property with historic artisanal mining located 15 kilometres west of Coeur Mining's Palmarejo Mine in western Chihuahua, Mexico

• Jackie Au-Ag Project - Early-stage epithermal project with high-grade surface sampling and strong structural targets located <10 kilometres northwest from Minera Alamos' Nicho deposit in eastern Sonora, Mexico

• Melchett Lake VMS Zn-Ag-Au-Cu Project - Polymetallic project with historical drilling in the Thunder Bay Mining District of Ontario

Contact:
Kevin O'Connor, CEO & Director
(312) 509-5972
koconnor@silverspruceresources.com
info@silverspruceresouces.com
www.silverspruceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE: Silver Spruce Resources, Inc.