Silver Recycling Closes Acquisition and Financing

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UNITED STATES


The Silver Recycling Company Inc. ("Silver Recycling") (NEX:TSR.H) is pleased to
announce that it has closed the acquisition of two privately held silver
recycling companies and concurrently closed a private placement financing for
approximately $1,687,875.


Prior to the closings, Silver Recycling received conditional acceptance from the
TSX Venture Exchange ("TSX-V") to list its shares in connection with the "Change
of Business" transaction subject to certain post-closing filing requirements.
Upon satisfactory completion of post-closing filings with the TSX-V, Silver
Recycling will commence trading under the symbol of "TSR".


Acquisition

Silver Recycling acquired both Pyropure Inc. (dba Pyromet) and Sun Valley Film
Wash Inc. (Sun Valley) pursuant to the previously announced purchase agreement
("Purchase Agreement") dated March 4, 2008, as amended March 31, 2008 and May 5,
2008. Both companies are located near Philadelphia, Pennsylvania.


As part of the consideration for the acquisition, Silver Recycling issued
3,402,994 shares to the vendors of Pyropure and Sun Valley. The acquisition
shares are subject to a pooling agreement that restricts resale for a period of
three years: no shares may be sold until the first anniversary of closing, after
each of the first and second year anniversary of closing, 20% of the acquisition
shares may be sold and then the balance may not be sold until after the third
anniversary of closing.


The combined annualized revenues of Pyropure and Sun Valley (from the audited
financial statements) for the period ended December 31, 2007 are in excess of
US$77 million and the combined annualized EBITDA was approximately US$2.5
million. The combined operations handle approximately 5.5 million ounces of
silver annually.


Private Placement

Concurrent with the closing of the acquisition, Silver Recycling closed a
non-brokered private placement of 2,646,458 units at $0.60 per unit, each unit
consisting of one common share and one-half warrant, with each whole warrant
being exercisable into one share at $0.85 per share for a term of 12 months.
Silver Recycling is obligated to pay fees associated with the private placement
in the amount of $64,515 and 107,525 in shares of Silver Recycling. All of the
securities issued in connection with the private placement are subject to four
month hold periods. The net proceeds of the private placement was used to pay
the balance due under the Purchase Agreement, being USD $1,395,000, and for
general working capital.


"These acquisitions make Silver Recycling the only publicly-traded silver
recycling company in North America and provides a platform for expansion," said
Don Holmstrom CA, President of the company.


Investors are cautioned that, except as disclosed in the Filing Statement (to be
filed on SEDAR) prepared in connection with the transaction, any information
released or received with respect to the Change of Business may not be accurate
or complete and should not be relied upon. Trading in the securities of Silver
Recycling should be considered highly speculative.


About 'The Silver Recycling Company Inc.'

Silver Recycling is seeking to consolidate privately-owned silver and other
precious metals recycling companies. Silver Recycling is continuing to review
other candidate companies within the precious metals recycling industry for
acquisition and integration in alignment with the Company's business strategy.