New Porphyry-Related Copper-Silver-Gold Targets

VANCOUVER - Silver One Resources Inc. has identified new targets and continues to expand ground holdings at its flagship property, the past-producing Candelaria Silver Mine in Nevada. Recent and historical work, including geology, rock and soil geochemical sampling, IP and 3D magnetic data modeling, have revealed new exploration targets and expanded previously known targets. As a result, the Company has staked an additional 336 claims in the north and western part of the property. To date, the Company controls 20,376 acres (8,246 hectares) of patented and Bureau of Land Management ("BLM") ground covering the areas of historic mining, leach pads, new targets and potential along-strike extensions to the known mineralized systems. Silver One is also continuing its metallurgical diamond drilling program in anticipation of an update to the historical resource completed by Silver Standard in 2001.

Greg Crowe, President and CEO, said, "The geophysical and geochemical surveys completed by Silver One, in combination with historical data, strongly validate the potential for porphyry-related copper-silver-gold zones beneath and along strike from the known silver oxide mineralization at Candelaria. The implications of this are a significant increase in the potential for the discovery of new mineralized systems at Candelaria. The most promising targets to date occur beneath the two past-producing silver-oxide pits, at Red Hill to the west, and Green Nick to the east. Additionally, an area of identified skarn mineralization occurs both at surface and in recent drilling near the Georgine Pit. These will be assessed in future exploration programs.

The Company also continues to aggressively evaluate the potential for recovery of silver from the historic leach pads and/or in combining this leach pad material with near-surface, fresh mineralization marginal to the past producing open pits. To date, Silver One has completed over 25,000 meters of diamond and reverse circulation drilling. This information, along with the metallurgical information obtained from the ongoing diamond drilling program, will be used in an upcoming resource update and in the Company's first economic study. Additional drilling is also planned to examine the potential for higher-grade oxide and/or sulphide silver mineralization down-dip from both the Northern Belle and Mount Diablo open pits."