Silver Spruce Resources Inc. (TSX VENTURE:SSE)(FRANKFURT:S6Q) and Universal
Uranium Ltd. (TSX VENTURE:UUL) are pleased to announce an initial Mineral
Resource estimate for the Two Time Zone on the CMB NW property in the
northwestern part of the Central Mineral Belt of Labrador.


Scott Wilson Roscoe Postle Associates (Scott Wilson RPA) has prepared a Mineral
Resource estimate for the Two Time Zone using drill hole data available as of
February 4, 2008. The Two Time drill hole database includes 40 diamond core
holes (holes 1-23 and 25-41) totaling 10,928 metres, plus five surface trenches.


The Mineral Resources are contained within eight zones, D101 though D108. At a
cut-off grade of 0.03% U3O8, Indicated Mineral Resources are estimated to total
1.82 million tonnes grading 0.058% U3O8 containing 2.33 million pounds U3O8.
Inferred Mineral Resources are estimated to total 3.16 million tonnes grading
0.053% U3O8 containing 3.73 million pounds U3O8.


A set of cross sections and plan views were interpreted to construct
three-dimensional wireframe models at a cut-off grade of 0.03% U3O8, and a
minimum true thickness of four metres. These criteria reflect a potential
underground bulk-mining scenario. High U3O8 grades were cut to 0.3% U3O8 prior
to compositing to two metres. Variogram parameters were interpreted from
two-metre composited assay values. Block model U3O8 grades within the wireframe
models were estimated by ordinary kriging. Classification into the Indicated and
Inferred categories was guided by the drill hole density, interpreted variogram
ranges, and the apparent continuity of the mineralized zones. See Table 1,
following, for details.


The Two Time Zone was discovered during ground follow up of a regional
radiometric survey in the fall of 2006 and was first drilled in December 2006.
Drilling continued through 2007 and the resource definition program was
completed on December 15, 2007. The Two Time Zone, like most of the CMB NW
property, lies outside of lands administered by the Nunatsiavut government that
are subject to the recently announced moratorium on uranium development.


"We have come a long way since the discovery of the Two Time uranium zone in the
fall of 2006, and now have the first "newly discovered" resource to be defined
in the Central Mineral Belt since the 1970s," stated Lloyd Hillier, President
and CEO of Silver Spruce. "These resources establish Silver Spruce and Universal
Uranium as companies with a significant uranium deposit at the Two Time Zone. We
look forward to increasing the size of the deposit and making further
discoveries as we continue our follow up exploration."


Infill diamond drilling and drilling to test the strike extensions and the down
plunge extension of the Two Time Zone are planned for the second quarter of
2008. A second drill will focus on the Firestone Zone (see news release dated
October 17, 2007) and other regional targets that have been generated on the CMB
NW property.


Table 1 summarizes the Mineral Resources estimated by Scott Wilson RPA. A table
giving the significant results for the infill drilling for holes CMB-07-25 to 41
and the plan maps and sections for the drilling on the Two Time Zone can be
viewed on the Silver Spruce and Universal Uranium websites:
www.silverspruceresources.com and www.universaluranium.com.




TABLE 1

INDICATED MINERAL RESOURCES
-----------------------------------------------------------
                    Tonnage      Grade      Contained Metal 
LENS        (tonnes x 1,000)   (% U3O8)   (lbs U3O8 x 1,000)
-----------------------------------------------------------
D103                  1,010      0.070                1,560 
D101                    500      0.039                  430 
D102                    310      0.049                  340 
-----------------------------------------------------------
TOTAL                 1,820      0.058                2,330 


INFERRED MINERAL RESOURCES
-----------------------------------------------------------
                    Tonnage      Grade      Contained Metal 
LENS        (tonnes x 1,000)   (% U3O8)   (lbs U3O8 x 1,000)
-----------------------------------------------------------
D103                  1,090      0.062                1,480 
D104                    180      0.035                  140 
D105                  1,160      0.049                1,240 
D106                    120      0.045                  120 
D107                    120      0.041                  110 
D108                    490      0.058                  640 
-----------------------------------------------------------
TOTAL                 3,160      0.053                3,730 

Notes:
1. CIM definitions were followed for mineral resources.
2. The cut-off grade of 0.03% U3O8 was estimated using a U3O8
   price of US$65/lb and assumed operating costs.
3. Grade-shell wireframes at 0.03% U3O8 and a minimum true
   thickness of four metres were used to constrain the grade 
   interpolation.
4. High U3O8 grades were cut to 0.3% prior to compositing to
   two-metre lengths.
5. Several blocks less than 0.03% U3O8 were included for 
   continuity or to expand the lenses to the four metre minimum
   true thickness.



All uranium analyses are performed by Activation Laboratories in Ancaster,
Ontario, an approved, accredited laboratory, using the delayed neutron
activation technique (DNC), which gives accurate results for samples carrying up
to 1.0% uranium. In addition, samples are analysed using an ICP technique that
gives good results for most other elements, including Thorium. A quality
assurance/quality control (QA/QC) program, described on the companies' websites,
has been implemented by the Silver Spruce/Universal Uranium joint venture to
increase confidence in the results generated.


ABOUT THE CMB NW PROPERTY

The CMB NW block is part of the Silver Spruce (SSE)/Universal Uranium (UUL)
CMB/Seal Lake joint venture previously announced. The property is held 60% by
UUL and 40% by SSE.


ABOUT SILVER SPRUCE

Silver Spruce Resources Inc. (TSX VENTURE:SSE) is a junior exploration company
primarily focused on uranium in the Central Mineral Belt (CMB) of Labrador,
Canada. With interests in more than 11,800 claims totaling approximately 2700
square kilometers in Labrador, Silver Spruce is the second largest landholder in
one of the world's premier emerging uranium districts. Strong financial backing
and expertise in uranium exploration make Silver Spruce a leading uranium
explorer in Canada.


ABOUT UNIVERSAL URANIUM

Universal Uranium Ltd. (TSX VENTURE:UUL) is a publicly held Canadian uranium
exploration company focused on acquiring, exploring and developing uranium
properties located in favorable geo-political climates. The company is led by a
highly skilled, experienced board and management team with significant successes
in managing early stage mineral exploration companies.


This release has been approved by David Ross, P.Geo., Senior Geologist with
Scott Wilson RPA and Peter Dimmell, P.Geo., Vice President of Exploration,
Silver Spruce Resources Inc., both Qualified Persons (QPs) as defined in
National Instrument 43-101.


The company seeks Safe Harbour.

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