MISSISSAUGA, ONTARIO-(Nov. 1, 2007) - Hi Ho Silver Resources Inc. ("Hi Ho Silver" or the "Company") (CNQ:HIHO)(FRANKFURT:H9T) is pleased to announce sampling results received from the Silver Tip Silver Project (the "Property") located in south-eastern British Columbia within the prolific Slocan Silver Camp.

During the most recent campaign, the exploration team, led by James Thom, M.Sc. located and sampled the vertical trench at the upper reaches of one of the known showings on the Property (the Keno Showing.) The Keno Showing is exposed over a vertical extent of approximately 100m (between 2,060m and 1,960m ASL) by two adits and numerous trenches.

Samples results VT 1 and VT 2 (0.3m x 0.50m panel samples), taken at the base of an approximately 10m high bluff at the upper most exposure of the Keno Showing, are listed below:

Historically, five high-grade silver/lead/zinc/gold showings within the Property have been identified with assays generally ranging from 60 - 120 oz/Ton silver (Ag) and 40-80% lead (Pb) with gold and zinc credits. The highest reported silver assay from the Property is 398 oz/ton. Gold values are historically reported in the 1g/t to 5g/t range and zinc values historically range between 1.25% - 6.0%. The British Columbia Department of Mines - "MINFILE" reports that the previously known five high-grade mineral showings have been developed by more than 1,500 feet (457m) of underground workings.

During the 2007 exploration program, two additional showings were identified. In addition, the exploration crew located a historic "pack trail" that leads from an existing road to the Helen and Keno Showings. This trail will be rehabilitated and upgraded to an ATV trail in the near future.

As at October 31, 2007 5:00 PM PST the quoted metal prices (www.kitco.com) of the above noted elements are: Silver (Ag) - $14.50 per ounce, Lead (Pb): $1.66 per pound, Zinc (Zn): $1.23 per pound.

Fred Fisher, President & CEO of Hi Ho Silver Resources also states "Further soil sampling and gridding is being prepared to help further evaluate the property. We are extremely pleased with the results from the summer work program and will utilize this data to build an extensive exploration program for the 2008 season."

Sample preparation and analytical work was undertaken at Assayers Canada laboratory (an ISO certified 9002 facility) in Vancouver, British Columbia.

The technical information contained in this news release has been verified by, Duncan Bain, B.Sc, P. Geo., who is a qualified person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. RESIDENTS

Signed,

HI HO SILVER RESOURCES INC.
Fred Fisher, President & C.E.O.

The CNQ Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.

For more information, please contact

Hi Ho Silver Resources Inc.
Fred Fisher
President/CEO
(905) 602-4653

or

Hi Ho Silver Resources Inc.
Isabel Alves
Investor Relations
(905) 602-4653
Email: info@hhsr.ca
Website: www.hhsr.ca