Huldra Silver Inc. (the "Company" or "Huldra Silver") (TSX VENTURE:HDA) is
Pleased to Give an Update on Current Exploration and Development Work at
Treasure Mountain. 




--  Target Drilling Inc. of Kamloops, BC has completed 11 of 13 planned HQ
    core holes on the east zone of the Treasure Mountain property, 800
    metres east of the main mine, to test, at shallow depth beneath the
    surface exposures, for a near surface deposit that may be amenable to a
    small "open pit" operation as part of a permitted 10,000 tonne bulk
    sample. This work is a follow up on rock chip samples taken as part of a
    trenching program in August. (See news release dated August 25, 2010
    "HULDRA SILVER INC. SAMPLES UP TO 9221g/t Ag or 268.91 oz/t Ag AT
    TREASURE MOUNTAIN"). 
    
    
--  Eleven additional rock chip samples were taken on September 12, 2010 by
    independent Qualified Person, Erik Ostensoe, P.Geo. These samples were
    taken approximately 190m and 270m east of the current drill area and
    submitted to the Eco Tech Laboratory in Kamloops, B.C., a full service,
    ISO 9001:2008 accredited, analytical laboratory for analysis. The
    Company is planning on drill testing this area as part of its current
    campaign after completing the drill work on the east zone. 
    
    
--  Portal reconstruction and a vent raise have been completed on Level 1 of
    the main mine area, where an NI 43-101 compliant resource estimate in
    2009 reported a total vein indicated resource, using a 10oz/tonne Ag
    cut-off, of 33,000 tonnes grading 26.68oz/tonne Ag, 4.16%Pb, and 3.8% Zn
    and a total vein inferred resource, using a 10oz/tonne Ag cut-off, of
    120,000 tonnes grading 29.76oz/tonne Ag, 2.79%Pb, and 4.36% Zn. An
    underground inspection has been conducted and we will use this
    information to implement our mine planning and design. 
    
    
--  Most of the background environmental monitoring for this year has been
    completed, with the exception of the final two months of water testing,
    in preparation for re-submitting an application for a full mining permit
    in early 2011. All of the work is being conducted in consultation with
    the British Columbia Ministries of Mines and the Environment. 



Details of the Company's Treasure Mountain property can be found in its NI
43-101 Technical Report filed on SEDAR on July 21, 2009.


The Company also wishes to report that it received $171,000 from the exercise of
570,000 warrants, that were exercised into 570,000 common shares at an exercise
price of $0.30 per share.


Technical information in this news release has been reviewed and approved by
Erik Ostensoe, P. Geo., the Company's independent Qualified Person as defined by
NI 43-101. Huldra Silver is currently working on plans to put the Treasure
Mountain Project, located 3 hours east of Vancouver, BC, into development
subject to permitting and financing. The Treasure Mountain Project is 100% owned
by Huldra Silver Inc. and the claim holdings consist of 51 mineral tenures
comprising 21 legacy claims, 100 cell units and one Crown Grant for a total of
approximately 2,850 hectares (7,000 acres). 


The Company is also actively assessing other opportunities for acquisition and
development.


On behalf of the Board of Directors

Ryan Sharp, MBA, President, CEO & Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect
the expectations of management regarding the Company's overall business
development objectives and plans. Forward-looking statements consist of
statements that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future, and include
discussion of the Company's planned work to be undertaken as a result of the
Company's receipt of the Mines Act Permit, and that the Company intends to put
the Treasure Mountain Project into development. Such statements are subject to
risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the statements. No
assurance can be given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the Company will
obtain from them. These forward-looking statements reflect management's current
views and are based on certain expectations, estimates and assumptions which may
prove to be incorrect. A number of risks and uncertainties could cause the
Company's actual results to differ materially from those expressed or implied by
the forward-looking statements, including: (1) a downturn in general economic
conditions in North America and internationally, (2) the inherent uncertainties
and speculative nature associated with silver exploration, (3) a decreased
demand for silver, (4) any number of events or causes which may delay
exploration and development of the Company's property interests, such as
environmental liabilities, weather, mechanical failures, safety concerns and
labour problems, (5) the risk that the Company does not execute its business
plan, (6) inability to finance operations and growth, (7) inability to obtain
all necessary permitting and financing, and (8) other factors beyond the
Company's control. These forward-looking statements are made as of the date of
this news release and the Company assumes no obligation to update these
forward-looking statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements, except in accordance
with applicable securities laws. Additional information about the Company and
these and other assumptions, risks and uncertainties is available in the
Company's public filings with Canadian securities regulators, available on SEDAR
at www.sedar.com.