Silver Tiger Intersects 96.3 metres of 100.7 g/t silver Equivalent in the Stockwork Zone Including 1.2 metres of 4,894.1 g/t silver Equivalent within the High-Grade Keel Zone

HALIFAX, NS / ACCESSWIRE / August 13, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR) and (OTCQX:SLVTF) ("Silver Tiger" or the "Company") is pleased to provide an update on the first 151 drill 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 high-grade nature of the Keel Zone while expanding near-surface mineralization footprint 700 metres from the Starter Pit.

Drill hole ET-24-617 intersected the Stockwork Zone with 96.3 metres grading 100.7 g/t silver equivalent or 1.34 g/t gold equivalent from 2.4 to 98.7 metres, consisting of 0.34 g/t gold and 75.4 g/t silver INCLUDING the high-grade SK Vein with 1.2 metres grading 4,894.1 g/t silver equivalent or 65.25 g/t gold equivalent from 97.5 to 98.7 metres, consisting of 1.96 g/t gold and 4,747.0 g/t silver (Figure 1). This hole highlights the newly discovered high-grade Keel Zone and expands Stockwork Zone 50 meters to east, over the 2023 MRE.

Figure 1 : Stockwork Zone Cross Section 4900 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-24-615: 18.4 metres grading 3.53 g/t gold equivalent or 264.5 g/t silver equivalent from surface to 18.4 metres, consisting of 1.90 g/t gold and 122.2 g/t silver AND 21.9 metres grading 0.86 g/t gold equivalent or 64.8 g/t silver equivalent from 66.3 to 88.2 metres consisting of 0.40 g/t gold and 35.2 g/t silver. The hole has expanded Hanging Wall Zone mineralization 25 metres up dip to surface over 2023 MRE.

• Drill hole ET-24-616: 31.9 metres grading 1.85 g/t gold equivalent or 138.7 g/t silver equivalent from 61.4 to 93.3 metres, consisting of 0.14 g/t gold and 128.5 g/t silver INCLUDING 1.3 metres grading 37.04 g/t gold equivalent or 2,778.3 g/t silver equivalent from 77.4 to 78.7 metres consisting of 1.07 g/t gold and 2,698.0 g/t silver. The hole confirms Hanging Wall Zone mineralization 700 metres north of Starter Pit and expands mineralization profile 25 metres to the west.

• Drill hole ET-24-619: 24.7 metres grading 1.06 g/t gold equivalent or 79.9 g/t silver equivalent from 3.3 to 28.0 metres, consisting of 0.39 g/t gold and 50.6 g/t silver AND 18.9 metres grading 0.41 g/t gold equivalent or 30.6 g/t silver equivalent from 41.4 to 60.3 metres consisting of 0.31 g/t gold and 7.4 g/t silver. This hole expands Stockwork mineralization to surface, some 600 metres north of the PEA ‘Starter Pit.'

Silver Tiger's CEO, Glenn Jessome, stated, "As we progress to release the PFS study, the last round of Resource Drilling assay results continues to highlight the extensive Stockwork Zone mineralization at the El Tigre Project." Mr. Jessome further stated, "The last and final assay results from Geotechnical drilling will be released in the coming weeks, completing the assay results from the PFS study."

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 test work 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 on-going 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, with samples underway comminution and leach testing; and

• Completion of enhanced PFS Geotechnical Drilling, with samples undergoing testing.

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-24-617: This hole highlights the newly discovered high-grade Keel Zone and expands Stockwork Zone mineralization to surface, over the 2023 MRE;

• Drill hole ET-24-615: The hole has expanded Hanging Wall Zone mineralization 25 metres up dip to surface over 2023 MRE;

• Drill hole ET-24-616: The hole confirms Hanging Wall Zone mineralization 1000 m north of Starter Pit and expands mineralization profile 25 metres to the west; and

• Drill hole ET-24-619: This hole expands Stockwork mineralization to surface, some 700 metres north of the PEA ‘Starter Pit.'

Table 1-Mineral Resource Drill Hole Results