Hi Ho Silver Plans Spring 2013 Diamond Drill Program at its recently-optioned English Bay Property

VANCOUVER, CANADA, January 15, 2013 – Hi Ho Silver Resources Inc. ("Hi Ho" or the "Company") (CNSX: HHS) is pleased to announce applications have been submitted for diamond drilling permits on the Company's Saskatchewan English Bay Gold Property in the LaRonge Gold Belt. Hi Ho is currently waiting for the permit approval. Hi Ho's planned 2013 spring exploration program is to include the completion of a minimum of four (4) diamond drill holes for a total of approximately 800 metres. Mobilization of drilling equipment is expected to be in March 2013.

Between 1997 and 2001 a private company completed ground magnetic and very low frequency electro-magnetic (VLF-EM) geophysical surveys and diamond drilling of 35 holes totaling 4,707 metres within the 4 claims comprising the 2,087 hectare (5,157 acre) English Bay Property.

Diamond drilling targeted a 600 metre north-northeast trending magnetic and VLF-EM conductive anomaly. Gold mineralization at the English Bay Property is associated with quartz-carbonate veining, and disseminated to semi-massive pyrite-pyrrhotite mineralization hosted within fine-grained metasediments.

A number of significant high-grade gold intersections were discovered during the previous diamond drill programs. At a depth of 114.6 metres, drill hole CSP-3 returned assays of 37.24 grams-per-tonne (g/t) gold (1.09 ounces-per-ton; oz/t) over 2.59 metres. Drill hole CSP-35, collared 25 m to the south of CSP-3, intersected two zones of mineralization; including 2.44 metres grading 9.38 g/t gold (0.27 oz/t) at a depth of 160.0 metres, and 1.22 metres grading 19.10 g /t gold (0.56 oz/t) at 173.7 metres. Drill hole CSP-16 collared 300 metres to the south of CSP-3 intersected a shear zone at depth of 105.5 metres that returned assays of 72.86 g/t gold (2.13 oz/t) over 1.22 metres.

The LaRonge Gold belt is home to many past and currently operating mines, including Anglo Rouyn, Contact Lake, Jolu, Roy Loyd, and Komis, with additional projects and operations currently being developed.

The technical content of this news release as it relates to the English Bay Property has been reviewed and approved by Kristopher Raffle, B.Sc., P.Geo., who is a Qualified Person as defined by NI 43-101.

Hi Ho is a Canadian exploration company dedicated to the exploration of precious metal deposits across Canada. For further information on the Company and its projects, please visit our website at www.hihoresources.com or contact our President and CEO, Mr. Dennis McKnight.

On Behalf of the Board of Directors

Dennis McKnight,

President , Chief Executive Officer and Director

Hi Ho Silver Resources Inc.

Tel: (604) 629-1928

Email: [email protected]

Website: www.hihoresources.com