SILVER SHIELD RESOURCES PROPOSES FINANCING

BURLINGTON, ON, Dec. 17 /CNW/ - Silver Shield Resources Corp. (TSXV - SSR) ("Silver Shield" or "the Company") announces that the Company proposes to undertake the placement, on a best-efforts basis, of up to 12,000,000 Common Share Units in the capital of the Corporation at a price of $ 0.05 per Unit, for maximum gross proceeds of $600,000 (all amounts in Canadian dollars). 

Each unit will consist of one Common Share and One Common Share purchase warrant.  Each Warrant will be exercisable for a common share at a price of $ 0.10 for a period of 6 months from the closing date, and shall be exercisable at a price of $ 0.15 for the next 18 months. Should at any time the Share price on the TSX - Venture exchange trade at an eight cent ($.08) premium over the Warrant Price for a period of 30 consecutive trading days the Warrant will become due and payable within 30 days of this period. Should the warrant not be exercised within these guidelines it shall become null and void.  All securities issued will be subject to a four-month hold period from the date of closing.  The Offering is expected to be complete on, or before, December 31, 2010 or at such other date or dates as the Corporation may determine (the "Closing").

The funds raised will primarily be used for advancing both the La Cumbre and the Jaripo Silver/Gold-base metal properties, in Mexico, to pursue additional property acquisitions in Mexico, and for general working capital purposes.

No Agent has been appointed to undertake the offering, however the Company will pay a fee of 8 per cent of gross proceeds of the offering and issue "Broker Warrants" to Registered agents who participate, which are exercisable at a price of $ 0.10 into a number of common share units as is equal to 8 per cent of the number of units sold.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

For further information:

please visitwww.silvershieldresources.comor contact:

Donald Shaxon, Manager of Corporate Development, [phone] or
Tim D. Towers, President and CEO, Tel: [phone]
Email:[email protected],     www.silvershieldresources.com