Huldra Silver Inc. Announces Application has Been Made for A Permit Approving the Small Mine Plan for Treasure Mountain Mine

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/01/11 -- Huldra Silver Inc. (TSX VENTURE: HDA) (the 'Company' or 'Huldra') is pleased to announce that it has made an application for a Permit Approving the Small Mine Plan and Reclamation Program Pursuant to Section 10 of the British Columbia Mines Act for the development and operation of the Treasure Mountain Mine Project, being developed by Huldra Silver Inc. The application allows for up to 75,000 tonnes a year of ore removal however, the maximum contemplated to be removed under this application is 60,000 tonnes per year.

In the area of current underground development a NI 43-101 compliant resource estimate in 2009 reported a total vein indicated resource, using a 10 oz/tonne Ag cut-off, of 33,000 tonnes grading 26.68 oz/tonne Ag, 4.16% Pb, and 3.8% Zn and a total vein inferred resource, using a 10 oz/tonne Ag cut-off, of 120,000 tonnes grading 29.76 oz/tonne Ag, 2.79% Pb, and 4.36% Zn. There is a total of 2750 metres of underground development on four levels completed between 1987-1989 before the project was shut down due to low silver prices prior to production.

The proposed mining method would be utilizing shrink stopage and develop the levels in succession from the top of the mine to the lowest current level. We currently have a 10,000 tonne bulk sample permit in place to begin the underground mining prior to the acceptance of this permit application. We will also be conducting further underground drilling for exploration and further resource definition. Historically only 5500 feet of underground drilling was conducted on the developed mine.

The Company will separately be applying for an amendment to the existing mill permit the proposed milling site at the completion of the due diligence and environmental testing (March 31, 2011 News Release). The process design and all metallurgical testing have been completed for a 200tpd milling operation. We will be finalizing construction and design plans during the due diligence period. All the necessary permits are already in place for transportation of the raw ore from Treasure Mountain to Lower Nicola.

The Company has also made an application to amend its current Notice of Work to increase the surface exploration drill program from 4,500m to 9,500m. Also included in the amendment is an allowance for geochemical testing on the property to follow up on some historical anomalies. There are 5 high priority targets that we have outlined for the 2011 exploration year and we will provide further details to the program in a separate news release.

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 such as the closing of the Transaction. 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 willingness of the parties to close the Transaction, satisfactory results of the due diligence investigations by the parties to the Transaction, 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. Due to conditions precedent to closing, and the risk that these conditions precedent will not be satisfied, the Company can offer no assurance that it will close the Transaction. These and all subsequent written and oral forward-looking statements 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.

Contacts:

Huldra Silver Inc.

Ryan Sharp, MBA

President, CEO & Director

604-647-0142

604-647-0143 (FAX)
ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com