Silver Tiger Intersects from Surface 79.5 Metres of 1.13 g/t Gold Equivalent Including 35.4 Metres of 2.07 g/t Gold Equivalent in the Stockwork Deposit

HALIFAX, NS / ACCESSWIRE / June 18, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Company") is pleased to provide an update on the first 110 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 the mineralization along the Footwall of the PEA "Starter Pit".

Drill hole ET-24-583 cut from surface 79.50 metres grading 1.13 g/t gold equivalent or 84.8 g/t silver equivalent from 0.0 to 79.50 metres, consisting of 0.97 g/t gold and 12.3 g/t silver AND 26.0 metres grading 0.72 g/t gold equivalent or 53.7 g/t silver equivalent from 101.0 to 127.0 metres, consisting of 0.67 g/t gold and 3.6 g/t silver in the Hanging Wall and Footwall Zones (Figures 1 & 2). The hole passed through the El Tigre vein and has expanded the Footwall Zone footprint some 50m to east.

Figure 1 : Stockwork Zone Cross Section 4200 N

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-24-571: 44.2 metres grading 1.00 g/t gold equivalent or 75.1 g/t silver equivalent from surface to 44.2 metres, consisting of 0.49 g/t gold and 38.4 g/t silver AND 57.0 metres grading 0.32 g/t gold equivalent or 24.0 g/t silver equivalent from 55.5 to 112.5 metres consisting of 0.31 g/t gold and 1.1 g/t silver. The former Hanging Wall intersection shows consistent, higher grades at surface in the Stater Pit area and the latter Footwall intersection expand the mineralization profile 60m to east over the 2023 MRE.
• Drill hole ET-24-576: 41.1 metres grading 1.03 g/t gold equivalent or 77.5 g/t silver equivalent from 129.0 to 170.1 metres, consisting of 0.92 g/t gold and 8.5 g/t silver INCLUDING 14.2 metres grading 1.62 g/t gold equivalent or 121.8 g/t silver equivalent from 140.9 to 155.1 metres consisting of 1.52 g/t gold and 7.5 g/t silver gold in the Hanging Wall Zone.
• Drill hole ET-24-580: 27.1 metres grading 0.74 g/t gold equivalent or 55.5 g/t silver equivalent from 25.9 to 53.0 metres, consisting of 0.68 g/t gold and 4.6 g/t silver in the Hanging Wall Zone AND 9.0 metres grading 1.75 g/t gold equivalent or 131.4 g/t silver equivalent from 84.0 to 93.0 metres consisting of 1.60 g/t gold and 11.5 g/t silver in the Keel Zone showing high-grade, consistent mineralization 100m to south of PEA ‘Starter Pit.

Silver Tiger's CEO, Glenn Jessome, stated, "In line with previous assay results, the Footwall and Keel Zone are showing significant potential for expansion over the 2023 MRE" Mr. Jessome further stated, "The results may increase the updated MRE associated with the PFS-level study, as well as further de-risk the project."

On May 20^th, Silver Tiger has completed PFS Drilling, totalling 24,550 metres focused on expanding the Mineral Resource, up-grading 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 3 : 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-24-583: Confirms location and grade of AT-SURFACE mineralization inside Starter Pit AND has expanded the footprint of the Footwall 50m to east over 2023 MRE.
• Drill hole ET-24-571: Confirms location and grade of AT-SURFACE mineralization inside Starter Pit AND, downhole, expands the Footwall Zone 60m to the east over 2023 MRE;
• Drill hole ET-24-576: Confirms location and grade of the sharp Hanging Wall Zone Contact; and
• Drill hole ET-24-580: Shows high-grade, consistent mineralization 100m to south of PEA ‘Starter Pit'

Table 1-Mineral Resource Drill Hole Results