Correction to Press Release Issued on January 16, 2026 Announcing Closing of $976,000 Non-Brokered Private Placement

Rhea-AI Summary

Silver Spruce Resources (SSEBF) issued a correction on January 20, 2026 to a prior release about a non‑brokered private placement. The offering proceeds remain $976,000, but the corrected number of Units is 9,760,000 Units (the Initial Press Release had incorrectly stated 976,000 Units). The correction does not change any other information in the original release.

Investors should read this correction alongside the original January 16, 2026 disclosure.

Positive

• Offering proceeds confirmed at $976,000
• Corrected issuance quantity: 9,760,000 Units

Negative

• Implied unit price of the Offering is $0.10 per Unit
• Issuance of 9,760,000 Units increases potential shareholder dilution

BEDFORD, NS / ACCESS Newswire / January 20, 2026 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Corporation") (TSXV:SSE) is issuing a correction to its press release entitled "Silver Spruce Resources Inc. Announces Closing of $976,000 Non-Brokered Private Placement" issued on January 16, 2026 (the "Initial Press Release"). The Initial Press Release incorrectly stated the number of units of the Corporation ("Units") under the private placement offering ("Offering") as 976,000 Units. The correct number of Units under the Offering is 9,760,000 Units. This Press Release should be read in conjunction with the Initial Press Release. The correction described in this press release does not change any other information reported in the Initial Press Release.

About Silver Spruce Resources

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

• 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

• 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

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

Silver Spruce continues to investigate opportunities that Management has identified or that have been presented to the Corporation for consideration.

Contact:

Kevin O'Connor, Director
(312) 509-5972
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, including but not limited to, statements regarding the Offering.

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.

View the original press release on ACCESS Newswire

FAQ

What did Silver Spruce (SSEBF) correct on January 20, 2026?

The company corrected the number of Units issued in the private placement to 9,760,000 Units.

How much did the non‑brokered private placement raise for Silver Spruce (SSEBF)?

The offering proceeds are $976,000, unchanged by the correction.

What is the implied price per Unit in Silver Spruce's (SSEBF) corrected offering?

The implied price is $0.10 per Unit (976,000 divided by 9,760,000).

Does the January 20, 2026 correction change any other details of the January 16 announcement for SSEBF?

No, the correction states it does not change any other information reported in the initial announcement.

When should investors consider the corrected unit count for SSEBF private placement?

Investors should use the corrected figure of 9,760,000 Units when assessing dilution and ownership impact.