Silver Tiger Intersects 126.6 Metres of 0.77 g/t Gold Equivalent in the Near -Surface Stockwork Zone Including 19.6 Metres of 1.68 g/t Gold Equivalent

HALIFAX, NS / ACCESSWIRE / August 27, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Company") is pleased to provide an update on the last remaining (geotechnical) holes of the Company's Pre-Feasibility Study ("PFS") drilling program on its El Tigre Project in Sonora, Mexico. These new results are highlighting the near surface, consistent mineralization present.

Drill hole ET-23-513 intersected the Stockwork Zone with 126.6 metres grading 0.77 g/t gold equivalent or 57.5 g/t silver equivalent from 7.4 to 134.0 metres, consisting of 0.55 g/t gold and 16.6 g/t silver INCLUDING 19.6 metres grading 1.68 g/t gold equivalent or 126.2 g/t silver equivalent from 94.0 to 113.6 metres, consisting of 1.03 g/t gold and 48.8 g/t silver (Figure 1). This hole highlights the confirms the strong, near-surface mineralization footprint of the Stockwork Zone and expands the Footwall Zone by 50 metres to the east over the 2023 MRE.

Figure 1 : Stockwork Zone Cross Section 4325 N

Highlighted Intersections
New intersections through the Stockwork gold deposit, comprised of the Footwall, Hanging Wall and high-grade Keel Zones, are highlighted below, shown on Figure 2 and listed in Table 1.

• Drill hole ET-23-531: 23.4 metres grading 1.30 g/t gold equivalent or 97.6 g/t silver equivalent from 121.4 to 144.8 metres, consisting of 0.29 g/t gold and 75.7 g/t silver INCLUDING 2.2 metres grading 11.75 g/t gold equivalent or 881.5 g/t silver equivalent from 140.0 to 142.2 metres consisting of 1.20 g/t gold and 791.4 g/t silver. The hole highlights the un-mined high-grade veins still present with the Stockwork Zone.

• Drill hole ET-23-555: 69.1 metres grading 0.73 g/t gold equivalent or 54.8 g/t silver equivalent from 79.9 to 149.0 metres, consisting of 0.57 g/t gold and 12.2 g/t silver INCLUDING 7.0 metres grading2.13 g/t gold equivalent or 160.0 g/t silver equivalent from 82.0 to 89.0 metres consisting of 2.12 g/t gold and 0.7 g/t silver. The hole confirms Hanging Wall Zone mineralization 200 metres south of Starter Pit and expands mineralization profile 25 metres to the west.

• Drill hole ET-23-562: 118.7 metres grading 0.51 g/t gold equivalent or 38.3 g/t silver equivalent from 55.9 to 174.6 metres, consisting of 0.46 g/t gold and 3.5 g/t silver INCLUDING 9.6 metres grading 1.18 g/t gold equivalent or 88.6 g/t silver equivalent from 165.0 to 174.6 metres consisting of 0.80 g/t gold and 28.3 g/t silver. The hole highlights the un-mined high-grade SK veins still present with the Stockwork Zone.

Silver Tiger's CEO, Glenn Jessome, stated, "As we progress to a PFS in September 2024, this release marks the last of the promising drill results from the PFS Drilling Program" Mr. Jessome further stated, "These results further de-risk the project and, coupled with the advantageous geotechnical and metallurgical results, increase the confidence and size of the El Tigre Project."

On May 20^th, Silver Tiger has completed PFS Drilling, totalling 24,550 metres focused on expanding the Mineral Resource, upgrading the classification, completing metallurgical testwork and geotechnical studies as it progresses from an exploration to a development project. The value-added PFS progress is on schedule for publication in H2-2024.

Figure 2: Stockwork Zone - Plan View

Highlights from the concluded Pre-Feasibility Study Drilling Program include the following:

• Expanding known mineralization by 10 to 15%, to the footwall and hanging wall zones, as well as the higher-grade ‘Keel' at PEA pit bottom associated with the El Tigre and SK Veins;

• Converting first two to three years of mineralized material in the potential ‘Starter Stockwork Zone' from Indicated Mineral Resource to Measured;

• Converting a significant portion of the 2 km strike length ‘ultimate' PEA pit-constrained Inferred Mineral Resource to Indicated;

• Completion of enhanced PFS Metallurgical Drilling and analysis; and

• Completion of enhanced PFS Geotechnical Drilling and analysis

Mineral Resource Drilling
P&E Mining Consultants Inc. ("P&E") of Brampton, Ontario completed the initial MRE in 2017. On Oct 27, 2023, P&E released an updated El Tigre Project NI 43-101 and NI 43-01 F1 compliant MRE technical report titled "Technical Report and Updated Mineral Resource Estimate of the El Tigre Silver-Gold Project, Sonora, Mexico" authored by William Stone, Ph.D., P.Geo.,Yungang Wu, P.Geo., Fred H. Brown, P.Geo., Jarita Barry, P.Geo., David Burga, P.Geo., D. Grant Feasby, P.Eng., Eugene Puritch, P.Eng., FEC, CET and David Salari, P.Eng. The MRE has a pit-constrained Indicated Mineral Resource totaling 43.0 million tonnes containing 818 thousand ounces AuEq grading 0.59 g/t AuEq; and a pit-constrained Inferred Mineral Resource of 11.5 million tonnes containing 267 thousand ounces AuEq grading 0.72 g/t AuEq (see update MRE press release dated September 12^th 2023).

PEA-level bench optimization of the pit-constrained Mineral Resource highlighted the higher-grade (~0.80 gpt AuEq), low strip ratio (~0.3) potential Starter Stockwork Zone (see PEA press release dated November 1^st, 2023). Recommendations of the PEA-level study included increasing Mineral Resource confidence in potential ‘Starter Stockwork Zone' and additional exploratory drilling to target the 1) Footwall, 2) Hanging Wall and 3) ‘Keel' areas of the Stockwork Zone. P&E were again retained to lead the current El Tigre PFS-level study. Complete and final assay results are listed in Table 1.

Below, highlighted intersections are enumerated with reference to the three (3) zones targeted (Figure 2):

• Drill hole ET-23-513: This hole highlights the confirms the strong, near-surface mineralization footprint of the Stockwork Zone some 200 metres north of the PEA ‘Starter Pit';

• Drill hole ET-23-531: The hole highlights the un-mined high-grade veins still present with the Stockwork Zone;

• Drill hole ET-23-555: The hole confirms Hanging Wall Zone mineralization 200 metres south of Starter Pit and expands mineralization profile 25 metres to the west; and

• Drill hole ET-23-562: The hole highlights the un-mined high-grade SK vein still present with the Stockwork Zone

Table 1-Geotechnical Drill Hole Results