(via Thenewswire.ca)

VANCOUVER, CANADA, December 5, 2013........ Hi Ho Silver Resources Inc. ("Hi Ho" or the "Company") (CNSX: HHS wishes to announce that it has expanded the use of funds in its Participating Convertible Redeemable Series "A" Preferred Share Offering announced on August 9, 2013 to include an investment in Ascot Mining Plc.

The Company was successful in negotiating the purchase of 125,157 preferred shares of Ascot Mining PLC at a cost of US$200,000, which upon conversion gives the Company a 4.70 % interest in Ascot Mining PLC. In addition the Company obtained an option to acquire an additional 3,629,560 preferred shares at a cost of US$5,800,000 which upon conversion will give the Company a 59.69 % interest in Ascot Mining PLC.

Hi Ho Silver Resources Inc. is a Canadian resource company dedicated to the exploration and development of precious metals deposits with near-term production potential. Hi Ho's principal asset is its 100% owned Fairview Gold Property. For further information on the Company and its projects, please contact our President and CEO, Mr. Dennis McKnight or visit our website www.hihoresources.com.

On Behalf of the Board of Directors,

Dennis H. McKnight

President & CEO

Hi Ho Silver Resources Inc.

C: 778.868.9424

Email: dennis@hihoresources.com