Silver Tiger Intersects 2,338.5 g/t AgEq Over 1.0 Meter Within a Broader Interval of 9.1 Meters Grading 809.7 g/t AgEq in a Step Out Hole in the Black Shale at the Benjamin Vein

Rhea-AI Summary

Silver Tiger Metals reported significant drilling results at the Benjamin Vein, intersecting 2,338.5 g/t AgEq over 1.0 meter in drill hole 329, part of a broader 9.1 meters grading 809.7 g/t AgEq. This includes 1,624.5 g/t silver, as well as notable values of gold, copper, lead, and zinc. Meanwhile, Cominvi is making progress with the rehabilitation of the historic El Tigre Mine, having completed over 350 meters in the underground work. The CEO highlighted the importance of the new drill results in exploring previously untouched high-grade mineralization in the black shale.

Positive

• Drill hole 329 revealed 2,338.5 g/t AgEq over 1.0 meter, indicating high-grade mineralization.
• Successful completion of 350 meters of rehabilitation in the El Tigre Mine.
• Further exploration of the black shale could expand mineral resources in the El Tigre area.

Negative

• None.

HALIFAX, NS / ACCESSWIRE / May 17, 2022 / Silver Tiger Metals Inc. (TSXV:SLVR) and (OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") has intersected 2,338.5 g/t AgEq over 1.0 meter within a broader interval of 9.1 meters grading 809.7 g/t AgEq in a step out hole in the black shale at the Benjamin Vein in drill hole 329.

Highlights from the drill holes include the following:

• Hole ET-21-329: 1.0 meters grading 2,338.5 g/t silver equivalent from 128.9 meters to 129.9 meters, consisting of 1,624.5 g/t silver, 0.28 g/t gold, 0.10% copper, 1.36% lead and 19.63% zinc within 9.1 meters grading 809.7 g/t silver equivalent from 124.0 meters to 133.1 meters, consisting of 429.5 g/t silver, 0.22 g/t gold, 0.22% copper, 4.82% lead and 6.89% zinc in the black shale at the Benjamin Vein.
• Hole ET-21-364: 0.8 meters 450.3 g/t silver equivalent from 127.9 meters to 128.7 meters, consisting of 111.0 g/t silver, 0.20 g/t gold, 0.03% copper, 3.54% lead and 7.18% zinc within 2.3meters grading 252.8 g/t silver equivalent from 126.4 meters to 128.7 meters, consisting of 76.1 g/t silver, 0.19g/t gold, 0.02% copper, 1.76% lead 3.59% zinc in the black shale at the Benjamin Vein.

Additional results for the Benjamin Vein and the shale zone are presented in the Drill Hole Results table below along with the details for the calculation of the silver equivalent grades.

Attached is El Tigre Cross Section 6200N showing the intersection of the Benjamin Vein and the Black Shale Unit by Drill Hole ET-21-272 and ET-21-329. A Plan Map of 4.2 kilometers of the El Tigre Veins and Drill Holes is also attached.

Silver Tiger's CEO, Glenn Jessome, stated, "Drill Hole 329 is very significant as it is one of the first near vertical drill holes to test the width of the disseminated high grade mineralization in the black shale as it extends away from the high grade quartz veins at El Tigre. We are continuing these vertical holes in the black shale around other major quartz veins at El Tigre to test this new previously unexplored wide high grade mineralization in the black shale horizon."

Underground Rehabilitation at Historic El Tigre Mine Update

As previously announced Silver Tiger has contracted Cominvi, a Mexican underground contract mining and development company to rehabilitate the Historic El Tigre Mine. Cominvi are progressing well in the underground rehabilitation of the Historic El Tigre Mine and have already completed over 350 meters of rehabilitation in Level 7, which was the main portal to the mine. Completed rehabilitation is currently approximately 100 meters from the Sooy Vein.

Glenn Jessome further stated, "We are extremely pleased with Cominvi's underground rehabilitation of the old mine. Cominvi's expertise, professionalism and safety profile continues to be exceptional. The first 350 meters of rehabilitation has gone smoothly. We expect to reach the Sooy Vein workings in another 100 meters, which is approximately 470 meters from the Level 7 portal."

Drill Hole Results Table

Hole ID	Comment	From	To	Length(1)	Gold	Silver	Copper	Lead	Zinc	AgEq Total (2)
		m	m	m	g/t	g/t	%	%	%	g/t
ET-21-237		80.4	82.9	2.5	0.03	117.2	0.05	0.20	0.03	129.4
		81.3	81.8	0.5	0.03	356.0	0.14	0.18	0.03	376.4
	Benjamin Vein	132.2	137.0	4.8	0.08	45.2	0.03	0.16	0.51	74.6
	including	134.6	135.1	0.5	0.11	250.0	0.11	0.39	1.54	329.1
ET-21-269	Benjamin Vein	107.9	115.8	7.9	0.11	74.3	0.02	0.30	0.58	110.8
	including	107.9	108.9	1.0	0.13	429.5	0.11	1.63	3.10	591.7
	including	108.4	108.9	0.5	0.19	704.0	0.17	2.68	5.08	966.0
ET-21-281	Shale Zone	124.1	130.1	6.0	0.15	24.0	0.01	0.05	0.08	40.5
		141.4	142.8	1.4	0.63	4.0	0.00	0.12	0.64	75.8
ET-21-286	Benjamin Vein	92.4	96.0	3.7	0.14	11.6	0.01	0.08	0.35	36.1
	including	94.6	95.3	0.7	0.09	36.9	0.02	0.13	0.39	61.5
	and	130.0	131.2	1.2	0.06	16.6	0.00	0.51	3.84	160.6
ET-21-302	Shale Zone	118.3	125.0	6.7	0.09	19.2	0.04	0.07	0.14	36.4
	including	122.4	124.2	1.8	0.10	26.0	0.08	0.19	0.33	56.9
ET-21-318	Benjamin Vein	149.8	152.1	2.3	0.17	138.0	0.04	0.91	0.75	201.5
	including	151.6	152.1	0.5	0.19	507.0	0.14	2.00	0.06	584.4
ET-21-329		0.0	6.0	6.0	0.05	55.7	0.00	0.01	0.00	59.7
		109.5	112.5	3.0	0.05	47.1	0.01	0.07	0.09	56.3
	Shale Zone	121.4	149.3	28.0	0.13	161.8	0.27	6.38	2.82	442.4
	including	124.0	133.1	9.1	0.22	429.5	0.22	4.82	6.89	809.7
	including	128.9	132.2	3.3	0.32	747.7	0.13	3.30	13.69	1,317.2
	including	128.9	129.9	1.0	0.28	1,624.5	0.10	1.36	19.63	2,338.5
ET-21-336		No Significant Mineralization
ET-21-348	Benjamin Vein	154.5	157.5	3.0	0.14	28.7	0.01	0.32	1.26	89.0
	including	155.1	156.2	1.1	0.25	52.7	0.01	0.51	2.71	174.9
ET-21-353		No Significant Mineralization
ET-21-364	Shale Zone	102.8	128.7	25.9	0.14	63.2	0.02	0.30	0.76	107.7
	including	102.8	117.0	14.2	0.14	83.0	0.03	0.24	0.74	126.3
	including	126.4	128.7	2.3	0.19	76.1	0.02	1.76	3.59	252.8
	including	127.9	128.7	0.8	0.20	111.0	0.03	3.54	7.18	450.3
ET-21-371		33.7	40.3	6.6	0.13	34.9	0.00	0.05	0.00	45.6
		34.7	35.5	0.8	0.77	159.0	0.01	0.13	0.01	220.9
		72.3	81.3	9.0	0.04	18.7	0.01	0.04	0.04	25.0
		99.5	108.6	9.1	0.10	42.3	0.02	0.10	0.10	57.0
	including	103.8	104.8	1.0	0.42	113.9	0.05	0.04	0.09	153.8

Notes:

1. Not true width.

2. Silver Equivalent ("EqAg") ratios are based on a silver to gold price ratio of 75:1 (Au:Ag). Copper, lead and zinc are

converted using $3.66/lb copper, $0.90/lb lead, $1.26/lb zinc at 100% metal recoveries based on a silver price of $26.00/oz.

Drill Hole Location Table

Hole ID	Easting	Northing	Elevation	Az	Dip	Length
ET-21-237	670403	3386044	1915	90	-40	164.7
ET-21-269	670384	3386161	1947	82	-55	228.8
ET-21-281	670337	3386267	1990	90	-53	292.8
ET-21-286	670372	3386195	1959	90	-48	253.2
ET-21-302	670340	3386290	1997	90	-56	283.7
ET-21-318	670274	3386350	2029	90	-40	314.2
ET-21-329	670443	3386200	1987	0	-90	201.3
ET-21-336	670274	3386350	2029	90	-50	283.7
ET-21-348	670252	3386375	2029	90	-40	298.9
ET-21-353	670252	3386375	2029	90	-48	309.6
ET-21-364	670442	3386186	1981	270	-87	207.4
ET-21-371	670442	3386186	1981	90	-87	189.1

Plan Map of Section 6200N

Plan Map of the El Tigre Veins and Drill Holes

El Tigre Resource Estimate

After acquiring El Tigre, Silver Tiger drilled 12,500 meters to define the wide halo of near surface gold mineralization around the mined high-grade veins of the historic El Tigre Mine. This allowed Silver Tiger to deliver a maiden resource estimate for the El Tigre Property to a depth of 150 meters containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold). The National Instrument 43-101 Technical Report titled "NI 43-101 Technical Report and Updated Mineral Resource Estimate on the El Tigre Project, Sonora, México" effective as of September 7, 2017 and dated October 26, 2017 prepared by David Burga, P.Geo., Yungang Wu, P.Geo., Fred Brown, P.Geo., Jarita Barry, P.Geo., Eugene Puritch, P.Eng., FEC, CET, Alfred Hayden, P.Eng. and Richard H. Sutcliffe, Ph.D., P.Geo. of P&E Mining Consultants Inc. is available on the Corporation's website at www.silvertigermetals.com and on www.sedar.com under the Corporation's profile.

About Silver Tiger and the El Tigre Historic Mine District

Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.

The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre vein extended 1,450 meters along strike and was mined on 14 levels to a depth of approximately 450 meters. The Seitz Kelley Vein was mined along strike for 1 kilometer to a depth of approximately 200 meters. The Sooy Vein was only mined along strike for 250 meters to a depth of approximately 150 meters. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton.

The El Tigre silver and gold deposit is related to a series of high-grade epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a broad silver and gold mineralized prophylitic alteration zone developed in the El Tigre Formation that can be up to 150 meters wide. The veins dip steeply to the west and are typically 0.5 meter wide but locally can be up to 5 meters in width. The veins, structures and mineralized zones outcrop on surface and have been traced for 5.3 kilometers along strike in our brownfield exploration area. Historical mining and exploration activities focused on a 1.6 kilometer portion of the southern end of the deposits, principally on the El Tigre, Seitz Kelly and Sooy veins. The under explored Caleigh, Benjamin, Protectora and the Fundadora exposed veins continue north for more than 3 kilometers. Silver Tiger has delivered its maiden 43-101 compliant resource estimate and is currently drilling to update its resource estimate and publish a PEA.

VRIFY Slide Deck and 3D Presentation - Silver Tiger's El Tigre Project

VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.

Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com

The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.

Procedure, Quality Assurance / Quality Control and Data Verification

The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work.

The sealed and tagged sample bags are transported to the Bureau Veritas facility in Hermosillo, Mexico. Bureau Veritas crushes the samples (Code PRP70-250) and prepares 200-300 gram pulp samples with ninety percent passing Tyler 200 mesh (Code PUL85). The pulps are assayed for gold using a 30-gram charge by fire assay (Code FA630) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code FA530). Silver and multi-element analysis is completed using total digestion (Code MA200 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code FA530).

Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Silver Tiger's QA/QC protocols.

Qualified Person

David R. Duncan, P. Geo., V.P. Exploration of the Corporation, is the Qualified Person for Silver Tiger as defined under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information in this press release.

For further information, please contact:

Glenn Jessome
President and CEO
902 492 0298
jessome@silvertigermetals.com

CAUTIONARY STATEMENT:

Neither 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 release.

This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, the ability to convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.

SOURCE: Silver Tiger Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/701680/Silver-Tiger-Intersects-23385-gt-AgEq-Over-10-Meter-Within-a-Broader-Interval-of-91-Meters-Grading-8097-gt-AgEq-in-a-Step-Out-Hole-in-the-Black-Shale-at-the-Benjamin-Vein

FAQ

What are the latest drilling results from Silver Tiger Metals (SLVTF)?

Silver Tiger Metals reported drilling results indicating 2,338.5 g/t AgEq over 1.0 meter in drill hole 329 within a broader 9.1 meters grading 809.7 g/t AgEq.

How is the underground rehabilitation progressing at the El Tigre Mine for SLVTF?

The rehabilitation at the El Tigre Mine, contracted to Cominvi, has progressed well with over 350 meters completed.

What minerals were found in the recent drill hole results for SLVTF?

The recent drill hole results include 1,624.5 g/t silver, alongside gold, copper, lead, and zinc concentrations.

What is the significance of drill hole 329 for Silver Tiger Metals (SLVTF)?

Drill hole 329 is significant as it tests a new area of high-grade mineralization in the black shale, indicating potential for resource expansion.