Silver Spruce Resources Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Mike Kinley

Chief executive officer

CA$50.0k

Total compensation

CEO salary percentage	100.0%
CEO tenure	3yrs
CEO ownership	0.03%
Management average tenure	3.5yrs
Board average tenure	16.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mike Kinley's remuneration changed compared to Silver Spruce Resources's earnings?
Date	Total Compensation	Salary	Company Earnings
Jan 31 2024	n/a	n/a	-CA$1m
Oct 31 2023	n/a	n/a	-CA$1m
Jul 31 2023	n/a	n/a	-CA$1m
Apr 30 2023	n/a	n/a	-CA$1m
Jan 31 2023	n/a	n/a	-CA$1m
Oct 31 2022	CA$50k	CA$50k	-CA$2m
Jul 31 2022	n/a	n/a	-CA$2m
Apr 30 2022	n/a	n/a	-CA$2m
Jan 31 2022	n/a	n/a	-CA$3m
Oct 31 2021	CA$35k	CA$35k	-CA$2m

Compensation vs Market: Mike's total compensation ($USD36.58K) is below average for companies of similar size in the German market ($USD401.52K).

Compensation vs Earnings: Mike's compensation has increased whilst the company is unprofitable.

CEO

Mike Kinley (72 yo)

3yrs

Tenure

CA$50,000

Compensation

Mr. Michael Winslow Kinley, also known as Mike, C.A., CPA, serves as Chief Financial Officer at Ceylon Graphite Corp. since September 12, 2023. He has been Chief Executive Officer at Silver Spruce Resource...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michael Kinley	CEO, Interim CFO & Director	3yrs	CA$50.00k	0.033% CA$ 1.4k
Gregory Davison	VP of Exploration & Director	3.5yrs	CA$89.00k	1.61% CA$ 65.7k
William MacPherson	Consultant & Advisor	8.1yrs	no data	no data

3.5yrs

Average Tenure

Experienced Management: S6Q1's management team is considered experienced (3.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Michael Kinley	CEO, Interim CFO & Director	no data	CA$50.00k	0.033% CA$ 1.4k
Gregory Davison	VP of Exploration & Director	6.9yrs	CA$89.00k	1.61% CA$ 65.7k
George Riche	Member of Advisory Board	16.8yrs	no data	no data
Ed Montague	Member of Advisory Board	16.8yrs	no data	no data
Marcel Ashini	Member of Advisory Board	16.8yrs	no data	no data
Ernest McLean	Member of Advisory Board	16.8yrs	no data	no data
Kevin Thieneman	Independent Director	4yrs	no data	0.43% CA$ 17.6k
Kevin O'Connor	Independent Director	5.3yrs	no data	3.03% CA$ 123.6k

16.8yrs

Average Tenure

Experienced Board: S6Q1's board of directors are seasoned and experienced ( 16.8 years average tenure).

Silver Spruce Resources Management

Management criteria checks 3/4

Key information

Recent management updates

Silver Spruce Resources Inc. Announces Changes of Chief Financial Officer

Insufficient new directors

Silver Spruce Resources Inc., Annual General Meeting, Apr 20, 2023

Silver Spruce Resources Inc. Appoints Greg Davison as VP Exploration

Recent updates

Silver Spruce Resources Inc. and Partner Colibri Resource Corp. Launch 2024 Drilling Program on El Pillado Polymetallic Target At Diamante Au-Ag Project, Sonora, Mexico

Silver Spruce Resources Inc. and Colibri Resource Corporation Announces Receipt of Semarnat Environmental Permit, Land Access Agreements and Mobilization for 2024 Core Drilling Program At Diamante Au-Ag Project, Sonora, Mexico

Silver Spruce Resources Inc. announced that it expects to receive CAD 0.5 million in funding

New major risk - Negative shareholders equity

Silver Spruce Resources Inc. (TSXV:SSE) completed the acquisition of 22 mining claims covering 448.8 hectares located near Melchett Lake in Province of Ontario.

Colibri Resource Corporation and Silver Spruce Resources Inc. Files Application for Drilling Program at Diamante Project, Sonora, Mexico

Silver Spruce Resources, Inc. Receives Permits, Signs Drill Contract and Mobilizes to Tote Brook Target in Marilyn Claims at Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador

Silver Spruce Resources, Inc. Prospecting and Geological Program Identifies Drill Targets on Epizonal Arsenopyrite-Quartz-Carbonate Veins and Breccias in Marilyn Claims at Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador

Silver Spruce Resources, Inc. Prospecting and Geological Program Identifies Drill Targets on Epizonal Arsenopyrite-Quartz-Carbonate Veins and Breccias in Marilyn Claims at Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador

Silver Spruce Resources, Inc. Announces Completion of its Phase 2 Gold Grain in Till and B Soil Sampling Exploration Program at 602-Claim Mystery Au Project

New major risk - Financial position

New major risk - Shareholder dilution

Silver Spruce Resources Inc. announced that it expects to receive CAD 1 million in funding

Silver Spruce Resources Inc. Announces Changes of Chief Financial Officer

Insufficient new directors

Silver Spruce Resources Inc., Annual General Meeting, Apr 20, 2023

Silver Spruce Resources Inc. (TSXV:SSE) acquired 6,040 hectares of claims contiguous to the Mystery Au project.

Silver Spruce Resources Inc. Announce the Completion of Further Gold Grain in Till Sampling and Soil Geochemical Sampling and Recent Receipt of the Sample Processing Results on the Mystery Au Project

Silver Spruce Resources Inc. announced that it expects to receive CAD 0.5 million in funding

Silver Spruce Resources Inc. announced that it expects to receive CAD 0.5 million in funding

Silver Spruce Resources and Colibri Resource Corporation Intersect Au to 5.62 G/T and Ag to 239 G/T in Polymetallic Vein Mineralization At La Prieta Target At Diamante Project, Sonora, Mexico

Silver Spruce Resources Inc. announced that it has received CAD 0.26425 million in funding

Silver Spruce Resources Inc. (TSXV:SSE) agreed to acquire 50% stake in Yaque Minerales S.A de C.V. from Colibri Resource Corporation (TSXV:CBI).

Silver Spruce and Colibri Report on Zn-Pb-Ag-Au Mineralization At El Pillado Target in 19-Hole, 2,005 Metre R/C Drill Program At Diamante Project, Sonora, Mexico

Silver Spruce Resources Inc. and Colibri Resource Corporation Hit Mineralization At El Pillado and La Prieta Au-Ag-Pb-Zn-Cu Targets in 19-Hole, 2,005 Metre R/C Drill Program At Diamante Project, Sonora, Mexico

Silver Spruce Resources Inc. announced that it has received $0.05 million in funding

Silver Spruce Mobilizes Soil and Till Sampling Crews to Complete Phase 1 Geochemistry Program on Mystery Au Project, Exploits Gold Belt, Central Newfoundland and Labrador

Colibri Resource Corporation and Silver Spruce Resources Inc. Initiates Inagural 2,000 Metre R/C Drill Program At Diamante Project, Sonora, Mexico

Silver Spruce Resources Inc. Mobilizes Geological Team and Collars First Hole of 2,000 Metre R/C Drill Program on the Pillado and La Prieta Au-Ag-Pb-Zn-Cu Targets At Diamante Project, Sonora, Mexico

Silver Spruce Resources Inc. announced that it expects to receive CAD 0.3 million in funding

Silver Spruce Resources Inc. Announces Receipt of Semarnat Environmental Permit for 2022 Drilling Program At the Diamante Au-Ag Project, Sonora, Mexico

Silver Spruce Resources Inc. Announces SEMARNAT Approval for Trenching and Drilling Permit at the Jackie Au-Ag Project, Sonora, Mexico

Silver Spruce Engages Geological Mapping Program on Priority Drill Targets at Diamante Au-Ag Concessions, Sonora, Mexico

Silver Spruce Resources and Aroland First Nation Announce the Engagement of Western Heritage Archeological and Cultural Study, Receipt of ENDM Exploration Permit for Melchett Lake VMS Ag-Zn-Au-Cu Project, Ontario

Silver Spruce Resources Inc. Completes Mpx Geophysics Mag/Radiometrics/Vlf Airborne Survey on Mystery Au Project, Central Newfoundland and Labrador

Silver Spruce Resources Inc. Engages Environmental Report for Drill Permit, Updates Historical Sampling from Diamante Au-Ag Concessions, Sonora, Mexico - Artisanal Workings to 25.69 G/T Au, 1,360 G/T Ag, 18.2% Pb, 33.5% Zn, 1.47% Cu

Silver Spruce Resources Inc. completes MPX airborne survey, engages in3D Geoscience for geophysical interpretation of Melchett Lake VMS Project, Ontario

Silver Spruce Resources Inc. Announces Proceeding with Preparation of its Informe Preventivo for Submission, Via the Claimholder Colibri Resource Corporation

Silver Spruce Engages Green and CEO to Update Its Environmental Report for Phase 2 Drilling Permit on El Mezquite Au Project, Sonora, Mexico

Silver Spruce Resources, Inc. Reports Update on the Pino De Plata Project, Chihuahua, Mexico

Silver Spruce Resources Inc. Receives Gold Assays from Due Diligence Sampling and Provides Exploration Update on Mystery Au Project, Exploits Gold Belt, NL

Silver Spruce Resources, Inc. Receives Assay Results for the Final 10 Holes Drill at the El Mezquite Au-Ag Property

Silver Spruce Resources Inc. Announces the Receipt of Assays from the First Ten Holes of Its Phase 1 Exploration Drilling at the El Mezquite Au-Ag Property

Silver Spruce Resources Inc. announced that it expects to receive CAD 1 million in funding

Silver Spruce Resources Inc. Announces Promising Gold and Multi-Element Assay Results of its Phase 2 Ground Exploration Program on the 1,130-Hectare Jackie Au-Ag Property

Silver Spruce Resources Inc. (TSXV:SSE) entered into a binding Letter of Intent agreement to acquire Mystery, Till and Marilyn Early Stage Glod Properties located in Newfoundland for CAD 1.2 million.

Silver Spruce Resources Inc Announces the Completion of its Phase 1 Exploration Drilling at the El Mezquite Au-Ag Property

Silver Spruce Provides Update on Phase 1 Drilling and Layne De Mexico Adds 2Nd Drill At El Mezquite Au-Ag Project, Sonora, Mexico

Silver Spruce Targets its High-Grade Discovery in Phase 2 Exploration Startup on Jackie Au-Ag Property, Sonora, Mexico

Chairman of the Board Brian Penney has left the company

Silver Spruce Resources Inc. Starts Its Planes Phase 1 Reverse Circulation Drill Program on the Companies El Mezquite Au-Ag Property

Colibri and JV Partner Report Discovery at Grass Roots Jackie Property - Samples as High as 9.56 g/t Gold and 515 g/t Silver and Provides Exploration Update of Pilar Gold & Silver Project

Silver Spruce Resources Inc. Completes Due Diligence on Diamante Au-Ag Concessions, Sonora, Mexico

Colibri Resource Corp Option Partner Silver Spruce Resources Inc. at El Mezquite Gold and Silver Project Files Environmental Report for Drilling Permit

Silver Spruce Resources Inc. Stakes Additional Claims, Mobilizes Logistics and Line-Cutting Crews to Melchett Lake VMS Project, Ontario

Silver Spruce Resources Inc. announced that it has received CAD 0.8252 million in funding

Silver Spruce Resources, Inc. Provides Exploration Update on El Mezquite and Jackie Au-Ag Properties, Sonora, Mexico

Spruce Resources Inc. Plans Phase 1 Exploration Program on the Jackie Property Located in Sonora, Mexico

Silver Spruce Signs Contract with Quantec Geoscience for SPARTAN MT Ground Geophysical Survey on Melchett Lake VMS

Silver Spruce Resources Inc. (TSXV:SSE) acquired Additional Claims on its Melchett Lake.

Silver Spruce Resources, Inc Provides Mining Registry Update on Pino De Plata Ag Project, Chihuahua, Mexico

Silver Spruce Resources Inc. announced that it expects to receive CAD 0.5 million in funding

Silver Spruce Resources Inc. Appoints Greg Davison as VP Exploration

Silver Spruce Resources Inc. Provides Update on Pino De Plata

Silver Spruce Resources Inc. (TSXV:SSE) signed a binding letter of intent to acquire Melchett Lake VMS Project for CAD 0.4 million.

Silver Spruce Resources Inc. announced that it has received CAD 1.8195 million in funding from Palisades Goldcorp Ltd.

Silver Spruce Resources Inc. announced that it expects to receive CAD 1.6 million in funding from Palisades Goldcorp Ltd.

CEO Compensation Analysis

CEO

Tenure

Compensation