("Spruce Ridge”) (SHL :TSXV) is pleased to report

that a significant zone of gold mineralization grading up to

within silver and base metal

rich quartz veins has been uncovered on its 100% owned Kramer Property, in western Newfoundland. Strong silver

values of 111.2, 41.0 and 18.8 grams per tonne were also reported from the zone.

The new discovery was made by workers constructing an access road to the adjoining Northern Abitibi/Altius Minerals

high grade Viking property where drill results on the Thor trend released August 17

reported 7.9 grams per tonne gold

over 27 metres. The interval includes 41.4 grams per tonne gold and 10.2 grams per tonne silver over 4.8 metres from

similarly described base metal rich quartz veins within altered granite.

The road construction has uncovered a zone at least 30 metres in width within altered granite containing at least three

quartz-sulphide rich veins measuring up to 30 cms in width and locally carrying fine visible gold. The highest gold

values appear directly associated with increased galena (lead sulphide) and chalcopyrite (copper sulphide)

mineralization within the quartz veins. A second vein, running parallel and 15 metres east of the high grade vein,

assayed 4,995 ppb gold with 18.8 grams per tonne silver. Encouraging gold values up to 971 ppb were also returned

from altered wallrock adjacent to a third vein which ran 247 ppb gold suggesting tonnage potential outside of the

mineralized veins.

The Kramer zone is poorly exposed and as such only limited sampling could be completed at this time due to overlying

gravels. The potential for additional mineralized veining is considered excellent as angular mineralized quartz float

was found elsewhere within the overburden covering the alteration zone. True vein orientations and lengths are

uncertain at this time but a general north to northeast trend is apparent. The discovery lies about 800 metres

northeast of and roughly parallel to the main Thor trend on the adjoining Northern Abitibi/Altius Minerals property

suggesting a series of parallel mineralized structures. The company plans to wash down the exposure, map and

sample the road cut in more detail as well as attempt to extend the length and width of the mineralized zone through

trenching. Applications have been made with the Department of Natural Resources for permits to carry out this work.

A map and table of results has been posted on the Company website at

www.spruceridgeresources.com