Huldra Silver Provides an Update on Mill Efficiencies and Surface Exploration Plans

Huldra Silver Inc. (TSX VENTURE:HDA) ("Huldra" or the "Company") is pleased to
provide an update on mill operations and exploration plans. 


As part of an effort to reduce costs and increase efficiency, Huldra has
temporarily suspended milling operations in Merritt, BC a few days prior to a
planned maintenance procedure in order to install previously purchased rubber
ball mill liners that will significantly increase the throughput capacity of the
mill to approximately 300 tonnes per day from the current maximum of 250 tonnes
per day, depending on the work index of the mill feed. The delivery of the
liners is expected later this week and should take approximately one day to
install. The ball mill is currently being prepared for the new liners. A number
of other maintenance items will be completed during this time to increase the
efficiency of the operation of the mill. Once complete, the mill will be run at
maximum capacity with reduced cost. Only essential personnel will be on site
during the maintenance procedure. 


The Company had already begun to implement cost saving procedures that included
minor layoffs of personnel from the construction phase of operations at the mill
as all major capital expenditures have been incurred. The mill was operating
close to design parameters prior to the scheduled maintenance shut down and
required labour hours had already been significantly reduced. The long term
changes include:




--  the crushing circuit was designed to a 600tpd capacity and will be
    operated on one shift; 
--  routine maintenance will also be reduced as the replacement rubber mill
    liners have a much longer life expectancy; and 
--  the logistics of transporting ore from the Treasure Mountain mine have
    also been significantly improved. An independent third party is nearing
    completion of a complete reconstruction of required areas on the first
    26km of the 38km Forest Service Road as part of their transportation
    requirements and the road remains open during this time. 



Huldra is also pleased to announce it is currently preparing for the upcoming
2013 surface exploration program at their flagship Treasure Mountain mine
operation. The initial phase of the surface program is anticipated to encompass
4000m of HQ diamond drilling spread across the Company's two most prospective
targets - the M.B. Zone and Jensen. Both exploration targets sit a significant
distance from the current mine workings and, if successful, will confirm the
property's potential to host mineralization outside of the immediate Treasure
Mountain mine area. 


The first target for the exploration program will be the M.B. Zone. The M.B.
Zone was initially sampled by an independent geologist, Erik Ostensoe, P.Geo.
and Daniel Almeida, geological technician, during August, 2010. The results from
that sampling program included the following and were announced in the press
release dated August 25, 2010: 


Sample 63959: 0.15 g/t Au, 2880 g/t Ag, 0.30% Cu, 0.67% Pb, 1.22% Zn from a 12.5
cm chip sample of reddish oxide on black argillite. 


Sample 63961: 0.34 g/t Au, 2250 g/t Ag, 0.43% Cu, 0.54% Pb, 0.96% Zn from a 12.5
cm chip sample of reddish altered argillite. 


Sample 63974: 0.81 g/t Au, 9221 g/t Ag, 1.02% Cu, 1.14% Pb, 1.03% Zn from a
composite sample of reddish oxide material. 




    All samples were analyzed at the Eco Tech Laboratory in Kamloops, B.C., 
    a full service, ISO 9001:2008 accredited analytical laboratory. All lab 
    quality control protocols were observed. Please refer to the press      
    release dated August 25, 2010 for more information regarding the data.  



In 2011, Huldra Silver followed up on the 2010 spot sampling with a focused soil
sampling grid over the M.B. Zone area as well as an airborne geophysical survey
of the entire Treasure Mountain property. The results from the geochemical
sampling identified a zone containing anomalous values for silver, lead, zinc,
copper, antimony and manganese. The results show a mineralized trend, striking
north-east, over approximately 780m strike length. The anomalous values indicate
that not only is a mineralizing fluid present in the area, but also that the
fluid has the potential to form tetrahedrite mineralisation, as well as
lead-silver and zinc-silver mineralization. Tetrahedrite is a sulphosalt mineral
with the potential to incorporate significant amounts of silver into the
mineral.


The geophysical survey in the area of the M.B. Zone also showed that the
anomalous geochemical results sit on the margin of a prospective magnetic
susceptibility feature, of the same magnetic intensity as the feature which
hosts the Treasure Mountain mine. 


Historic geological work on the Western edge of the M.B. Zone identified a
structure known as the Cal-Vein. Trenching along the Cal-Vein, conducted during
1993, exposed a vein 21m in length and open in all directions. Grades across the
structure were variable, with assays of the vein ranging from 258.7g/t Ag to
650.8 g/t Ag, with an average grade of 439.8 g/t Ag. Widths across the vein
averaged 0.17m. 




    Samples were analyzed by ACME Analytical Laboratories Ltd. (1993) using 
    a 0.5g acid digest with AA finish. The certificate was accepted by Coast
    Mountain Geological as being acceptable for reporting.                  



Based on the evidence to date, the Company believes that the M.B. Zone holds the
potential to host another polymetallic silver-lead-zinc vein or veins, similar
in nature to the veins seen within the Coeur d'Alene district, Idaho or the Keno
Hill mining camp, Yukon Territory. 


Technical information about geology in this news release has been reviewed and
approved by Mark Williams, P. Geo. and has relied on data previously collected
by Erik Ostensoe, P. Geo and Coast Mountain Geological. 


About Huldra

Huldra Silver is a fully integrated silver mining, exploration and development
Company. The Company is currently mining at its Treasure Mountain Project,
located three hours east of Vancouver, B.C, utilizing its offsite mill for
processing mill feed at the Company's property outside of Merritt, B.C. 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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Disclaimer for Forward-Looking Information

This press release contains projections and forward-looking information that
involve various risks and uncertainties related to the Company's expectation
that the M.B. Zone holds the potential to host another polymetallic
silver-lead-zinc vein or veins. Such forward-looking information can include
statements based on current expectations involving a number of risks and
uncertainties and are not guarantees of future performance of the Company, such
as the Company's ability to finance its planned exploration and development; the
Company's ability to source the necessary infrastructure to effect its
exploration plans; current economic conditions and the state of mineral
exploration, and mineral prices in general. These risks and uncertainties could
cause actual results and the Company's plans and objectives to differ materially
from those expressed in the forward-looking information. The Company can offer
no assurance that its exploration and development plans will be completed in the
time expected or at all. 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. Additional information about assumptions, risks and
uncertainties are set out in the section entitled "Risk Factors" in the
Company's MD&A filed on SEDAR at www.sedar.com. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Huldra Silver Inc.
Ryan Sharp
604-647-0142
[e-mail]
[e-mail]