Regency Silver Intercepts 5.34 g/t gold over 54.65m Including 7.36 g/t gold over 38m at Its Dios Padre Project in Sonora, Mexico

VANCOUVER, BC / ACCESSWIRE / November 2, 2023 / Regency Silver Corp. ("Regency Silver" or the "Company", (TSXV:RSMX) and (OTCQB:RSMXF) is pleased to announce that hole REG-23-21 intersects 54.65m of 5.34 g/t gold including 7.36 g/t over 38m in a ~65m step-out along strike to the southeast from the discovery hole REG-22-01 which returned ( 35.8m of 6.84 g/t gold , 0.88% copper and 21.82 g/t silver ) and ~75m step-out from REG-23-14 ( 35.9m of 5.51 g/t Au including 29.4m of 6.32 g/t Au ) .

The Company will host a virtual investor webcast to discuss these drill results and to provide a corporate update to the investment community later today at 06:00 PDT / 09:00 EDT. Details are provided below.

The 2023 drill campaign consisted of 6105.25m in 10 holes (Fig.1). 8 of the 9 holes targeting the lower Dios Padre breccia zone intersected mineralized pyrite-specularite breccia and confirm the mineralized breccia zone has a strike of at least 180m and depth extent of at least 150m while the breccia remains open both along strike, up-dip towards the old silver mine, and at depth.

Select Drilling Highlights:

• REG-23-21 intersects 54.65m of 5.34 g/t Au including 7.36 g/t over 38m and 8.7 g/t over 28.90m from 450.8m downhole in ~65m step-out along strike to the southeast from hole REG-22-01 (Fig. 3).
• REG-23-19 intersects 44.75m of 1.61 g/t including 13.3m of 2.23 g/t Au from 492.7m downhole ~40m down- dip from REG-23-20.
• REG-23-20 intersects 96.3m of 0.65 g/t Au including 9.95m of 1.6 g/t Au from 477.6m downhole ~45m down-dip from REG-23-19 and ~85m down-dip from REG-23-21.
• REG-23-16 intersects 7.15m of 2.76 g/t Au from 393.3m downhole ~75m along strike to the NW from REG-23-14 (Fig. 2).

Michael Tucker, lead geologist and director states, "The continued ability of the lower breccia zone to produce highly elevated gold grades over significant widths is very compelling. The system has proven the ability to generate spectacular grades and thicknesses. The indications of a large magmatic-hydrothermal system are present, and we are excited to continue expanding on these exceptional results as they clearly demonstrate there is a big system to be explored ."

Discussion of Results:

• The mineralized breccia zone now has a confirmed strike extent of at least 180m and depth extent of at least 150m, and the breccia remains open both along strike and at depth (Fig. 4).
• The shape and orientation of the breccia zone is now understood; trending NW-SE and dipping ~60˚ to the NE. The orientation of the breccia is unrelated to the orientation of the Quartz-feldspar porphyry (QFP) (Fig. 5).
• High grade Au mineralization is hosted within the larger pyrite-specularite breccia body. More Au-rich zones appear to be associated with areas of increased pyrite.
• High grade Au at this stage appears to be concentrated in the shallower (upper) portions of the breccia.
• The SE portion of the breccia body is trending upwards towards similar Au-Ag rich breccias encountered in shallow drilling at the Dios Padre mine site (REG-22-04 - 17.9m of 1.34 g/t Au. See news release of October 14, 2022). This suggests that similar high-grade sections as those in REG-22-01, REG-23-14 and REG-23-21 may exist at shallower levels as we approach the historic mine site, potentially transitioning to more of an Au-Ag assemblage.
• The breccia zone as well as the high-grade upper portion both are open along strike and at depth.
• Copper mineralization is more intimately associated with the QFP unit. Where the breccia and the QFP intersect, more Au-Cu mineralization is present although Cu mineralization is a later event which overprints the earlier Au mineralization.
• Cu and associated low-grade Au mineralization appears to be increasing with depth within the QFP unit, indicating a vector towards a higher-grade Cu core within the QFP at depth.
• REG-23-22 targeted the strongest IP (Chargeability) anomaly indicated by the 2023 survey. The hole intersected zones of significant pyrite, alunite, and sericite alteration, however, did not intersect and significant Au, Ag or Cu mineralization. The sulphide and broad alteration are clearly associated with the main hydrothermal system and provide important information on metal endowment variance with distance from the primary mineralized corridors.

Bruce Bragagnolo, Executive Chairman and Director states, "The gold breccia is a large, high grade gold zone. Consistently drilling into a mineralized zone as thick as an 18-story building builds our confidence that we can extend the high-grade core along strike with strong potential for continued high grade zones up-dip 400m toward the historic silver mine."

Technical Prospectivity of the Dios Padre project:

The Dios Padre historic silver mine workings contain a NI 43-101 inferred resource of 11.375 million AgEq ounces (94% Ag) at an average grade of 255.64 g/t AgEq at a cutoff grade of 120 g/t AgEq. Dios Padre is a high-grade deposit as evidenced by its drill intercepts which include:

• Hole FMR 12-06 with 1.9m of 3220 g/t silver inside an intercept of 32.5m of 408 g/t silver;
• Hole FMR 17-06 with 5.2m of 1145 g/t silver;
• Hole RDP 18-12 with 12.4m of 558 g/t silver;
• Hole FMR 15-06 with 28.m of 467.8 silver.

The newly discovered lower breccia Au-Cu zones are clearly part of a long lived, multi-phase magmatic hydrothermal Au-Cu-Ag event in the district. The current hypothesis is that this system is part of the late Cretaceous to early Paleogene Laramide magmatic arc and associated porphyry Cu-Au deposits that span from New Mexico southwards into Sinaloa, Mexico (e.g. Buenavista del Cobre, La Caridad).

Samples from the Cu-Au mineralized K-spar megacrystic QFP have been submitted for geochronological analysis to determine its age and confirm its association with this magmatic suite. The presence of a Laramide age Cu-Au porphyry system would be new to the Dios Padre region of Sonora and has property-scale, as well as regional-scale implications on the prospectivity of the district. Dios Padre has all the indications of the presence of a significant hydrothermal system including widespread alunite-sericite alteration, extensive specularite-pyrite halos around Au-Cu mineralization, large, well-developed, multi-phase breccias as well as Cu-Au mineralized porphyritic intrusive rocks.

The current hypothesis is that the Dios Padre silver mine and the lower Au breccia represent the thermal transition from a cooler Ag dominant upper assemblage to a warmer Au-Cu domain as the system approaches the magmatic source. The current complex is believed to represent a hypogene, high-sulphidation Au-Ag-Cu system proximal to the Cu-Au porphyry source likely to exist at depth at the northern part of the property.

Table 1 : Gold (Au) results for holes REG-23-16 to REG-23-21

1. It is estimated that the intervals are somewhere between 70-100% of true thickness since drilling is currently near perpendicular to the orientation of stratigraphy with mineralization appearing to loosely follow stratigraphy at this stage of exploration.
2. Au composites are calculated using a 0.1 g/t Au cutoff, incorporating no more than 7.5m downhole dilution. Higher-grade composite intervals are calculated using 0.3g/t, 1g/t, 3g/t, and 5 g/t cutoffs incorporating no more than 5m downhole dilution.

Table 2 : Copper (Cu) results for holes REG-23-16 to REG-23-21

1. It is estimated that the intervals are somewhere between 70-100% of true thickness since drilling is currently near perpendicular to the orientation of stratigraphy with mineralization appearing to loosely follow stratigraphy at this stage of exploration.
2. Cu composites are calculated using a 0.1 % Cu cutoff, incorporating no more than 7.5m downhole dilution. Higher-grade composite intervals are calculated using 0.25%, 0.5%, 0.75% cutoffs incorporating no more than 7.5m downhole dilution.

Table 3 : Silver (Ag) results for holes REG-23-16 to REG-23-22