VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2011) - Huldra Silver Inc. (TSX VENTURE:HDA) (the "Company" or "Huldra") today announces that it has entered into a credit agreement dated June 16, 2011 (the "Credit Agreement") with Waterton Global Value, L.P. ("Waterton") pursuant to which Waterton has agreed to make a $10,000,000 credit facility (the "Credit Facility") available to the Company. The Credit Facility may be drawn down, at the Company's option, in up to four advances, with the first advance consisting of $3,000,000, the second advance consisting of $2,000,000 and each of the third and fourth advances consisting of $2,500,000. A closing fee of $100,000 was paid to Waterton upon the execution of the Credit Agreement. Provision of any advances under the Credit Facility by Waterton will be subject to the satisfaction or waiver of certain conditions as set out in the Credit Agreement.

The advances may be drawn down by the Company at any time until May 31, 2012 and all amounts outstanding must be repaid by April 30, 2013. Repayment amounts are subject to adjustment based on the spot price of silver as set out in the Credit Agreement.

In connection with each advance, the Company has agreed to pay Waterton a structuring fee in an amount equal to 1% of the principal amount of such advance. The Company has also agreed to issue Waterton up to 2,200,000 share purchase warrants in connection with the first, third and fourth advances. 900,000 warrants were issued today in connection with the first tranche and an additional 650,000 will be issued upon each of the third and fourth advances, if drawn down. Each of the 900,000 warrants issued to Waterton today is exercisable into one common share of the Company at a price of $1.28 per share until June 16, 2016, subject to certain price adjustments. The exercise prices of any additional warrants issued will be tied to the market price of the Company's common shares on the date prior to such issuance.

Bayfront Capital Partners Ltd. ("Bayfront") acted as placement agent in connection with the Credit Facility in consideration for a placement fee equal to 1% of the principal amount of any advance drawn down and common shares of the Company having an aggregate value of $200,000, with shares having a market value of $100,000 being issued in connection with the first advance and shares having a market value of $50,000 to be issued in connection with each of the third and fourth advances, if applicable.

All securities issued to Waterton or Bayfront in connection with any draw down under the Credit Facility will be subject to a four month hold period under applicable securities laws.

The Credit Facility will be used to further development of Huldra's Treasure Mountain Project and for general working capital purposes.

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 Credit Facility, including: (i) the number of warrants and fees that may be paid; (ii) the number of advances that may be drawn down; and (iii) proposed uses for the Credit Facility. 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 the Exchange to provide final approval for the debt facility; and (3) 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.

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
President, CEO & Director
604-647-0142 /