VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2011) - Huldra Silver Inc. (TSX VENTURE:HDA) (the "Company" or "Huldra") is pleased to announce that it has closed the definitive strategic acquisition agreement dated March 30, 2011 (the "Agreement") with Craigmont Holdings Ltd. ("Craigmont"), the shareholders of Craigmont, Craigmont Mines Ltd. and a wholly-owned subsidiary of Huldra whereby Huldra has agreed to acquire all of the shares of Craigmont from the Craigmont shareholders for aggregate cash consideration of $7,500,000 and the issuance of an aggregate of 372,000 common shares of Huldra having a value equal to $500,000. Craigmont holds real property, mineral claims and mineral leases, covering approximately 8,400 hectares (collectively, the "Craigmont Property"), located in south central British Columbia, approximately 10 kilometers west of Merritt. Further details are in the Company's press release dated March 31, 2011.

Huldra is currently working on the necessary testing and design of the new tailings facility. This work is expected to be completed in June, 2011 and construction will begin immediately thereafter. The Company is also in the process of evaluating various 200 TPD mill proposals and the Company expects to make a final design and purchase decision before the end of May, 2011.

In addition, Huldra has submitted a 20kg sample of material to Inspectorate Exploration and Mining Services Ltd. of Richmond, BC. The purpose is the conduct a scoping metallurgical study to evaluate the potential of manganese (MN) recovery from tailings after Ag, Pb, and Zn removal by flotation. The Company currently does not have a 43-101 compliant resource estimate on Mn. However, previous metallurgical studies have determined that, during processing, the majority of the Mn has been reporting to the tailings. The results from this testing are expected before the end of May, 2011.

Technical information in this news release has been reviewed and approved by Jasman Yee, P. Eng, a Qualified Person as defined by NI 43-101.

About Huldra

Huldra is currently working on plans to put its Treasure Mountain Project, located 3 hours east of Vancouver, BC, into development subject to permitting and financing. 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

Disclaimer for Forward-Looking Information

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events related to the Company's proposed design and construction of a tailings facility and mill on the Craigmont Property. 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 retain designers or builders on acceptable terms, current economic conditions and the state of mineral exploration and mineral prices in general. These risks and uncertainties could ca use actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Due to conditions precedent to closing, and the risk that these conditions precedent will not be satisfied, the Company can offer no assurance that the mill or tailings facility 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.

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 news release.

Contact Information:

Huldra Silver Inc.
Ryan Sharp
604-647-0143 (FAX) or