Huldra Silver Inc. Provides Update on Drill Drift Progress

Huldra Silver Inc. (TSX VENTURE:HDA) ("Huldra" or the "Company") is pleased to
provide an update on the development of their two underground drill drifts at
the Treasure Mountain Mine. As noted in an earlier press release dated November
23, 2012, Huldra plans to develop two diamond drill drifts on Level 2. The
purpose of the drill drifts is to allow for the systematic testing of
mineralisation between Level 1 and Level 2, with further drill testing for
mineralisation 20m below Level 2.


As of January 23, 2013, development of the western diamond drill drift is
complete. The eastern diamond drill drift has been advanced 37m. In total, the
development of the two drill drifts is now over 60% complete.


While driving the western drill drift, a previously unknown mineralised
structure was intersected. Two samples of vein material were collected from the
structure. The first sample, composed primarily of siderite with lesser amounts
of sphalerite graded 110ppm Ag, 0.79% Pb and 1.94% Zn. The second sample
consisted of a mix of galena, sphalerite and siderite and graded 530ppm Ag, 6.2%
Pb and 2.11% Zn(i). The width of the structure is variable, ranging from
approximately 0.1m up to approximately 0.25m. Mineralisation is also variable
throughout the structure; however, the presence of this structure highlights the
untested nature of the Treasure Mountain deposit. The newly identified structure
lies 45m into the footwall of the main "C" vein at Treasure Mountain. To date,
there has been no drill testing for structures into the footwall of the deposit
and the hangingwall side of the deposit remains to be tested at depth.


Technical information in this news release has been reviewed and approved by
Mark Williams, P.Geo., a Qualified Person as defined in National Instrument
43-101. For more information about the Company's Treasure Mountain Property, see
the technical report entitled "Technical Report, Project Update, Treasure
Mountain Property" dated June 7, 2012, available under Huldra's profile on SEDAR
at www.sedar.com.


(i) Samples were analysed by ALS Chemex at their Vancouver laboratory, an ISO
9001:2000 certified laboratory. Samples were prepared by crushing to 70% less
than 2mm, riffle splitting off 250g and then pulverising the split to better
than 85% passing 75 microns. A 0.25g sample was then digested using a 4-acid
digest and the solution was analysed by multi-element ICP-AES. Pb and Zn over
limits were analysed using the ME-OG62 method. Ag was analysed by 30g fire assay
with gravimetric finish.


About Huldra

Huldra is currently mining at its Treasure Mountain Project, located three hours
east of Vancouver, BC, utilizing an offsite mill for processing mill feed at the
Company's property outside of Merritt, BC. The Company is also actively
assessing other opportunities for acquisition and development.


On behalf of the Board of Directors of HULDRA SILVER INC.

Ryan Sharp, MBA, President, CEO & Director

FOR FURTHER INFORMATION PLEASE CONTACT: 
Huldra Silver Inc.
Ryan Sharp, MBA
President, CEO & Director
[phone]
[phone] (FAX)
[e-mail]


Huldra Silver Inc.
[e-mail]
www.huldrasilver.com