Silver Tiger Announces Filing of Updated Mineral Resource Estimate and

Figure 1 : Stockwork Zone Cross Section 4325N

Figure 2 : Keel Zone – Isometric View

New intersections through the Stockwork deposit, comprised of the Footwall, Hanging Wall and high-grade Keel Zones, are highlighted below, shown on Figure 3 and listed in Table 1.

• Drill hole ET-24-570: 59.3 metres grading 1.92 g/t gold equivalent or 144.1 g/t silver equivalent from 100.3 to 159.6 metres, consisting of 1.63 g/t gold and 21.8 g/t silver AND 9.5 metres grading 1.32 g/t gold equivalent or 99.2 g/t silver equivalent from 173.5 to 183.0 metres consisting of 1.32 g/t gold and 0.5 g/t silver. These intersections are located approximately 150 metres past the northern end of the 2023 PEA Starter Pit as shown in Figure 3.
• Drill hole ET-23-563: 45.0 metres grading 1.17 g/t gold equivalent or 87.6 g/t silver equivalent from 4.0 to 49.0 metres, consisting of 0.70 g/t gold and 35.0 g/t silver INCLUDING 15.0 metres grading 2.20 g/t gold equivalent or 164.7 g/t silver equivalent from 11.0 to 26.0 metres consisting of 1.01 g/t gold and 89.0 g/t silver gold in both the Hanging Wall and Footwall Zones.
• Drill hole ET-23-552: 35.5 metres grading 0.92 g/t gold equivalent or 68.7 g/t silver equivalent from 107.0 to 142.5 metres, consisting of 0.83 g/t gold and 6.2 g/t silver INCLUDING 7.0 metres grading 1.68 g/t gold equivalent or 126.3 g/t silver equivalent from 135.5 to 142.5 metres consisting of 1.66 g/t gold and 1.9 g/t silver in the Hanging Wall Zone.

Silver Tiger’s CEO, Glenn Jessome, stated, “As we continue receiving promising assay results, it is apparent that the developing “Starter Pit” and “Keel Zone” show excellent grade and continuity.” Mr. Jessome further stated, “The results may increase the updated MRE associated with the PFS-level study which we expect to deliver by September 2024, which will also further de-risk the project.” Mr. Jessome continued, “We contemplate being able to make a build decision based on our upcoming PFS.”

Silver Tiger has completed 24,500 metres of a 25,000 metre drilling program 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…