Vancouver, British Columbia – June 23, 2022 – Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) (“Silver Valley” or the “Company”), a brownfields exploration Company with two potential high impact projects that comprise lithium – potassium (sulphate of potash) and silver-zinc-lead, respectively, is pleased to provide a corporate update.  

The inaugural exploration campaign commenced earlier this month at the Ranger-Page Project in the Silver Valley, northern Idaho. There are several programs underway including an I.P. and resistivity survey that is already starting to indicate anomalous targets coincident with the Company’s comprehensive underground database and high-grade historic surface trench samples. Additionally, there are geologists on the ground assisting with the survey and doing surface reconnaissance work including sampling, trenching, mapping, and ground truthing. This is the first opportunity to explore the entire property package after the option to own transaction for the high-grade Page Mine and surrounding prospective project area was consummated late in 2021. In combination with the original project the Company closed on 11 months ago, which comprises five historical high-grade mines with no modern geological exploration ever done, the Company is excited to start generating new high priority drill targets, while furthering the existing targets defined thus far from known historic mineralization.

Silver Valley is pleased to announce the engagement of the Tamarack Geological team and its founder Dale Moore, located in the Silver Valley. Dale has an impressive track record of success and ongoing successes. He has been involved in the planning and execution of Americas Gold and Silver’s Galena GIP project, adding over 100 million ounces of silver equivalent over the last two years. This project is located less than 10 kilometres from the Ranger-Page project.

Dale and his team created the first Leapfrog model of Idaho Strategics’ Golden Chest deposit, leading to the discovery of additional resources in the Klondike Zone, which are currently being developed. This project is also located in the near vicinity of the Ranger-Page project. Dale and his team have created the first modern geologic models of the Gold Hunter Deposit, and the Galena Complex, all of which have led to near mine discoveries, and are integral to the planning of near mine exploration programs. Other projects worked on in the Silver Valley’s Coeur d’Alene mining district include the Star, Coeur, Caladay, and Sunshine mines.

Dale has also worked in Hecla’s corporate development team, assisting with technical due diligence related to M&A targets, and assisting with the negotiations related to the acquisition of Rock Creek and Montinor projects, a large silver-copper resource in northwest Montana. 

He is a registered professional geologist in Washington state and Idaho, with strong experience in the mining, geotechnical, and engineering industry. Tamarack Geological Services provides core loggers, grade control geologists, geologic modelers, and project managers to all the operating mines in the Coeur d’Alene mining district, and two other exploration stage projects in Washington and Colorado. 

Mexico Update:

As discussed in the March 31, 2022 news release, the Company continues to move forward with several parties under NDA; the parties continue to use this time to work through all due diligence matters and potential transaction terms while awaiting clarity from the Mexican government. To re-iterate, the Company’s deposits contain both significant amounts of lithium carbonate equivalent and potassium; the potassium component is not impacted by the legislation recently passed.  We anticipate further clarification in the coming weeks.

Lastly, the Company has granted an aggregate of 500,000 share purchase options with an exercise price of 20 cents per share and a term of five years. The new grant is subject to TSX Venture Exchange approval. And other news, please check out our new website and presentations that can be located at www.silvervalleymetals.com and www.silvervalleymetals.com/investors/corporate-presentations

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Qualified person

Timothy Mosey, BSc, MSc, SME, is the qualified person for the company and qualified person as defined by National Instrument 43-101. Mr. Mosey supervised the preparation of the technical information in this news release.

About: Mexican lithium – potassium (sulphate of potash) project:

Silver Valley owns a 100% interest in a lithium and potassium bearing salar complex comprising 4,059 hectares on three mineral concessions (the “Mexican Projects”) located on the Central Mexican Plateau in the states of Zacatecas, and San Luis Potosi, Mexico. The NI 43-101 inferred mineral resource contains 12.3Mt of Sulfate of Potash (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and remains open in all directions for expansion.  The Company is currently exploring strategic alternatives for the Project to enhance shareholder value. The Company considers the asset valuable and important.

About: Ranger-Page project:

Silver Valley’s primary focus is on its flagship Ranger-Page Project (“The Project”) located in the Silver Valley of Idaho, 60 kilometres east of Coeur d’Alene and 1 kilometre from the I-90 freeway. In 2020 Idaho was ranked the first in the world in policy perception and 9th best mining jurisdiction (Fraser Institute Annual Mining Survey). The Project borders the famous Bunker Hill Mine to the east and for the first time consolidates the western extent of the prolific Silver Valley mining corridor by one operator in the past 100+ years.

The Project is on patented claims, there are no royalties and comprise 6 historical mines. The largest of these, the Page Mine, was a top ten producer in the Silver Valley producing over 1 billion pounds of zinc and lead and 14.6 million ounces of silver. The Page Mine has high grade silver-zinc-lead historic reserves and remains wide open at depth beyond what has been defined to date.

There is shared underground infrastructure connecting the larger Page mine with five shallow historical mines within the larger Project area. The Company has underground mining data and surface geological data that supports high grade silver-zinc-lead mineralization present within the shallow, undeveloped mines. These mines remain open at depth, and laterally along strike.

Exploration potential beyond the historical mines is considered significant due to no modern systematic exploration applied to the project.

About Silver Valley Metals Corp.

We are a group of experienced exploration, mining, and financing specialists focused on the pursuit of mineral discovery and development. Our expertise in evaluating targets, consummating strategic and accretive outright sales, joint ventures, and /or acquisitions while maintaining a favourable share structure via the least dilutive option is the mandate for Silver Valley Metals Corp. We look to further de-risk potential projects via obtaining historical geological data that reflects untapped exploration potential that are located in top tier mining jurisdictions preferably near producing mines.

On behalf of the Board of Directors of Silver Valley Metals,

“Brandon Rook”

Brandon Rook, President & CEO, Director

For further information please contact us at:

604-800-4710

[email protected]

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.