Silver Tiger Intersects 50.7 Metres of 155.0 g/t Silver Equivalent in the Stockwork Zone Including 14.3 Metres of 334.3 g/t Silver Equivalent Within the High-Grade Keel Zone

HALIFAX, NS / ACCESSWIRE / July 30, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR) and (OTCQX:SLVTF) ("Silver Tiger" or the "Company") is pleased to provide an update on the first 138 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 expansion of stockwork mineralization in the Keel Zone, now projecting mineralization 100 metres below the PEA designed pit.

Drill hole ET-24-609 has intersected significant mineralization in the HW Stockwork Zone, and the Keel Zone in both El Tigre and Seitz Kelly veins. The hole intersected 50.7 metres grading 155.0 g/t silver equivalent or 2.07 g/t gold equivalent, consisting of 0.17 g/t gold and 142.1 g/t silver, from 178.4 to 229.1 metres in the Keel Zone of the Seitz Kelly vein. The interval also includes 14.3 metres grading 334.3 g/t silver equivalent or 4.46 g/t gold equivalent from 198.4 to 212.7 metres, consisting of 0.20 g/t gold and 319.5 g/t silver. This hole highlights the high-grade Keel Zone in the Seitz Kelly Vein, some 100 metres below the PEA pit (Figure 1).

The hole also intersected 40.0 metres grading 80.7 g/t silver equivalent or 1.08 g/t gold equivalent, consisting of 0.09 g/t gold and 74.1 g/t silver, from 124.4 to 164.4 metres in the Keel Zone of the El Tigre vein some 50 metres below the PEA pit. The interval also includes 17.3 metres grading 143.8 g/t silver equivalent or 1.92 g/t gold equivalent from 145.1 to 162.4 metres, consisting of 0.12 g/t gold and 134.7 g/t silver (Figure 1).

In the Hanging Wall gold stockwork zone, the hole cut two significant zones of gold and silver mineralization including 24.2 metres from 3.7 to 27.9 metres grading 58.1 silver equivalent or 0.77 g/t gold equivalent, consisting of 0.76 g/t gold and 0.8 g/t silver, and 53.8 metres from 51.4 to 105.2 metres grading 44.7 silver equivalent or 0.60 g/t gold equivalent, consisting of 0.56 g/t gold and 2.8 g/t silver (Figure 1).

Silver Tiger's CEO, Glenn Jessome, stated, "As we progress to a PFS release in September 2024 we continue to receive promising assay results, especially in the newly defined Keel Zone and high-grade El Tigre and Seitz Kelly veins" Mr. Jessome further stated, "These results further de-risk the project, as we increase the confidence and size of the new MRE as we are now discovering stockwork mineralization 100 meters below the PEA designed pit."

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.

Silver Tiger Attends the 2024 Precious Metals Summit in Beaver Creek, Colorado

Silver Tiger is attending the 2024 Precious Metals Summit in Beaver Creek, Colorado on September 10 to 13, 2024. Glenn Jessome, Silver Tiger's CEO, will be delivering a presentation,

Figure 1 : Stockwork Zone Cross Section 4200 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-24-600: 46.5 metres grading 0.83 g/t gold equivalent or 62.1 g/t silver equivalent from 19.5 to 66.0 metres, consisting of 0.37 g/t gold and 34.3 g/t silver INCLUDING 13.3 metres grading 1.90 g/t gold equivalent or 142.5 g/t silver equivalent from 19.5 to 32.8 metres consisting of 0.49 g/t gold and 105.6 g/t silver. The hole has expanded Hanging Wall Zone mineralization to the west 25 metres and confirms high-grade mineralization 500 metres to the north of the ‘Starter Pit.'

• Drill hole ET-24-602: 92.5 metres grading 0.66 g/t gold equivalent or 49.2 g/t silver equivalent from 49.5 to 142.0 metres, consisting of 0.45 g/t gold and 15.5 g/t silver INCLUDING 10.6 metres grading 1.72 g/t gold equivalent or 129.4 g/t silver equivalent from 130.4 to 141.0 metres consisting of 0.57 g/t gold and 86.6 g/t silver. The hole has expanded Hanging Wall Zone mineralization to the west 15 metres and confirms high-grade mineralization 200 metres to the south of the ‘Starter Pit.'

• Drill hole ET-24-607: 120.5 metres grading 0.69 g/t gold equivalent or 51.9 g/t silver equivalent from 7.9 to 128.4 metres, consisting of 0.58 g/t gold and 8.1 g/t silver INCLUDING 7.6 metres grading 1.67 g/t gold equivalent or 125.1 g/t silver equivalent from 87.8 to 95.4 metres consisting of 1.46 g/t gold and 15.4 g/t silver. This hole confirms near-surface, high-grade mineralization 100m south of the PEA ‘Starter Pit.'

• Drill hole ET-24-609: 24.2 metres grading 0.77 g/t gold equivalent or 58.1 g/t silver equivalent from 3.7 to 27.9 metres, consisting of 0.76 g/t gold and 0.8 g/t silver. A second interval of 53.8 metres grading 0.60 g/t gold equivalent or 44.7 g/t silver equivalent from 51.4 to 105.2 metres, consisting of 0.56 g/t gold and 2.8 g/t silver. Both these intersections are in the HW Stockwork Zone of the Starter Pit.

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-24-600: This hole has expanded Hanging Wall Zone mineralization to the west 25 metres and confirms high-grade mineralization 500 metres to the north of the ‘Starter Pit.';

• Drill hole ET-24-602: This hole has expanded Hanging Wall Zone mineralization to the west 15 metres and confirms high-grade mineralization 100 metres to the south of the ‘Starter Pit.';

• Drill hole ET-24-607: This hole confirms near-surface, high-grade mineralization 100m south of the PEA ‘Starter Pit.'; and

• Drill hole ET-24-609: This hole highlights the high-grade Keel Zone on the Seitz Kelly Vein some 100m beneath the floor of the PEA Starter Pit.

Table 1-Mineral Resource Drill Hole Results