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Shoshone Silver Announces Letter of Intent Signed With Strategic Investor Group

Shoshone Silver/Gold Mining Company (OTCQB: SHSH) (PINKSHEETS: SHSH) is pleased to announce it has signed a letter of intent with a strategic investor for a substantial cash investment into the Company and additions of experienced management and board members to join the Shoshone team.

The letter of intent is subject to the continued due diligence of the investor group and finalization of a work plan and use of proceeds to be used at the Company's Rescue Mine Project as well as the Lakeview Project. The financing is slated to close within forty-five days at which time further details of the transaction shall be announced.

ABOUT SHOSHONE SILVER/GOLD MINING COMPANY

Founded in 1969 as a silver exploration, development and production company, Shoshone maintains a diverse portfolio of mineral exploration projects in Idaho, Montana, Arizona and Washington. Shoshone stock trades on the OTC Markets (OTCQB) under the symbol "SHSH", and on the Frankfurt Exchange under the symbol "9IT".

This release contains certain forward-looking statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company's periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended September 30, 2010.