Huldra Silver Announces Private Placement of Special Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 22, 2011) -

NOT FOR ISSUE IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Huldra Silver Inc. (TSX VENTURE:HDA) (the "Company" or "Huldra") is pleased to announce that it has entered into an agreement with a syndicate of agents (the "Agents"), to undertake a best efforts private placement financing of special warrants (the "Special Warrants") and flow-through special warrants (the "Flow-Through Special Warrants) to raise gross proceeds of up to C$10 million, including up to C$3 million in Flow-Through Special Warrants (the "Offering"). The Special Warrants and the Flow-Through Special Warrants will be offered at a price to be determined in the context of the market.

Upon the exercise or deemed exercise thereof, each Special Warrant will entitle the holder thereof to receive one unit (a "Unit") without payment of any additional consideration. Each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share at a price to be determined in the context of the market for a period of twenty-four months following the date of closing of the Offering, subject to adjustment as described below. Each Flow-Through Special Warrant will entitle the holder thereof to receive one flow-through common share (a "Flow-Through Common Share") without payment of any additional consideration.

The Special Warrants and Flow-Through Special Warrants will be exercisable by the holders thereof for no additional consideration and all unexercised Special Warrants and Flow-Through Special Warrants will be deemed to be exercised on the earlier of: (a) the date that is four months and a day following the Closing Date, and (b) the third business day after a receipt is issued for a final prospectus by the securities regulatory authorities in each of the Provinces of Canada where the Special Warrants and Flow-Through Special Warrants are sold qualifying the securities to be issued upon the exercise of the Special Warrants and Flow-Through Special Warrants (the "Prospectus").

The Company shall use its reasonable best efforts to obtain such receipt for the Prospectus on or prior to the date that is 60 days from the Closing Date.

The net proceeds of from the sale of the Special Warrants and Flow-Through Special Warrants shall be used to advance the Treasure Mountain project towards production, for further exploration and resource expansion and for general working capital purposes.

The Offering is expected to close on or about July 14, 2011 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.

This press release is not an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sales of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. None of the securities offered hereby have been or will be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

On behalf of the Board of Directors

Ryan Sharp, MBA, President, CEO & Director

Disclaimer for Forward-Looking Information

This press release contains projections and forward-looking information related to the Offering, including: (i) the number of securities to be issued; (ii) the Company's intention to file the Prospectus; and (iii) proposed uses for the proceeds of the Offering. 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) failure of any applicable regulatory authorities to provide final approval for the Offering or the final prospectus; and (4) other factors beyond the Company's control. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.