Silver Tiger Makes New Discovery Intersecting 7,807.7 G/T AgEq Over 0.6 Meters Within a Broader Interval of 5.1 Meters Grading 1,029.5 G/T AgEq

Rhea-AI Summary

Silver Tiger Metals (TSXV:SLVR)(OTCQX:SLVTF) announced a significant mineral discovery in the black shale horizon, intersecting 7,807.7 g/t AgEq over 0.6 meters and a broader interval of 5.1 meters grading 1,029.5 g/t AgEq. Six drill rigs have resumed operations at the El Tigre site post-holiday. The company has also updated its resource estimates, indicating 661,000 indicated and 341,000 inferred gold equivalent ounces. CEO Glenn Jessome expressed optimism about the exploration team's quick return to drilling and the potential of the newly discovered zone.

Positive

• Discovery of a new high-grade silver-gold vein with substantial mineralization.
• Six drill rigs resumed operations, indicating strong exploration momentum.
• Indicated resources of 661,000 gold equivalent ounces at 0.77 g/t confirmed.

Negative

• None.

HALIFAX, NS / ACCESSWIRE / January 11, 2022 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") intersects 7,807.7 g/t AgEq over 0.6 meters within a broader interval of 5.1 meters grading 1,029.5 g/t AgEq in a new discovery of a mineralized zone in the black shale horizon between the Tiger Vein and the Seitz Kelly Vein. Post-Holiday shutdown, six drill rigs have resumed drilling at El Tigre.

Drill results are detailed in the table below:

Notes: 1. Not true width.

1. Silver Equivalent ("EqAg") ratios are based on a silverto 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/lbzinc at 100% metal recoveries based on a silver price of$26.00/oz.

Attached is Cross Section 5075N which includes Drill Hole ET-21-278 and the new discovery. A Plan Map of the SeitzKelly, Tiger and Sooy Veins with the New Discovery Zone is attached.

Silver Tiger's CEO, Glenn Jessome, stated, "The discovery of a potential new high grade silver-gold vein between the Tiger Vein and the Seitz Kelly Vein exhibiting wide high grade mineralization in the black shale further strengthens our hypothesis of the importance of this shale horizon." Mr. Jessome continued, "I am very pleased that our exploration team returned to the mountain quickly after the Holiday shutdown and that six drill rigs have already resumed drilling."

Seitz Kelly Vein and New Discovery Zone - Section 5075N (Drill Holes ET-21-278 and ET-21-271)

Plan Map of the Seitz Kelly, Tiger and Sooy Veins with the New Discovery Zone

Plan Map of 4.2 Kilometers of the El Tigre Veins and Drill Holes

Drill Hole Location Table

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 delivera maiden resource estimate for the El TigreProperty 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 October26, 2017 prepared by David Burga, P.Geo., Yungang Wu, P.Geo., Fred Brown, P.Geo., Jarita Barry, P.Geo., EugenePuritch, P.Eng., FEC, CET, Alfred Hayden, P.Eng. and RichardH. 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 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 Madresilver and gold belt whichhosts 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 developed along strike for 1 kilometer to a depth of approximately 150 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 1932, 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 approximately 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 taggedfor 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 SilverTiger'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/681988/Silver-Tiger-Makes-New-Discovery-Intersecting-78077-GT-AgEq-Over-06-Meters-Within-a-Broader-Interval-of-51-Meters-Grading-10295-GT-AgEq

FAQ

What recent discovery did Silver Tiger Metals (SLVTF) announce?

Silver Tiger Metals announced a new high-grade silver-gold vein discovery, intersecting 7,807.7 g/t AgEq over 0.6 meters.

How much mineralization was found at the El Tigre site by Silver Tiger (SLVTF)?

A broader interval of 5.1 meters grading 1,029.5 g/t AgEq was also reported at the El Tigre site.

What are the latest resource estimates for Silver Tiger Metals (SLVTF)?

Silver Tiger reported indicated resources of 661,000 gold equivalent ounces and inferred resources of 341,000 gold equivalent ounces.

How many drill rigs are currently operating for Silver Tiger Metals (SLVTF)?

Six drill rigs have resumed drilling operations at the El Tigre site.