Vancouver, British Columbia – September 20, 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) located in Zacatecas and San Luis Potosi, Mexico and silver-zinc-lead located in Idaho, USA respectively, is pleased to provide significant high-grade historical drill results that expands the Page Mine substantially at depth at its Ranger-Page Project, Silver Valley, Idaho.  

Highlights:

• Drill hole 34-371_N intercepts 1,960 g/t silver equivalent* (264 Ag g/t, 25.2% zinc, 25.0% lead) over 1.60 metres
• Drill hole 34-142_NE intercepts 765 g/t silver equivalent* (267 Ag g/t, 3.1% zinc, 13.4% lead) over 2.4 metres and 532 g/t silver equivalent* (90 Ag g/t, 3.9% zinc, 10.3% lead) over 2.9 metres for a total of 5.3 metres of high-grade mineralization with these two intervals separated by 2.5 metres of negligible mineralization
• Drill hole 34-371_W intercepts 538 g/t silver equivalent* (23 Ag g/t, 11.7% zinc, 2% lead) over 3.7 metres and 454 g/t silver equivalent* (30 Ag g/t, 8.6% zinc, 3% lead) over 5.5 metres for a total of 9.2 metres of high-grade mineralization with these two intervals separated by 1.8 metres of negligible mineralization
• Drill hole intercepts range from 11 metres to 168 metres below the high-grade historic resources at the Page Mine (near true width)
• A top ten historical producer in the Silver Valley, the Page Mine was mined to approximately 806 metres below elevation over 44 years; with these historical drill results, Page remains open within high grade mineralization to near one kilometre below elevation extending the Page Mine’s depth by approximately 17%; or when considering past production, 7.5 years of historic production
• Over 750 metre strike length defined at depth

* Silver Equiv. assumptions: Silver (Ag) price of US$20.00/oz, Zinc (Zn) price of US$1.40/lb, Lead (Pb) price of US$1.00/lb

Page Mine Drill Results:

Silver Equiv. & Zinc Equiv. assumptions: Silver (Ag) price of US$20.00/oz, Zinc (Zn) price of US$1.40/lb, Lead (Pb) price of US$1.00/lb

Notes:

Width (m) – near true width

Not 43-101 compliant – all historical drill intercepts performed by a past mining major, Asarco, 1969

To view an enhanced version of the Page Mine drill results:  https://tinyurl.com/mryw3c3p

“The Company is extremely satisfied with these drill results at our past producing Page Mine in the western end of the Silver Valley”, states CEO, Brandon Rook. “These results clearly show that the Page Mine has not been exhausted, but rather, indicates it may be getting wider with a longer strike length at depth.  The vein structure (Tony vein) has been modelled over 750 metres in strike length and high-grade mineralized intercepts up to 551 feet (168 metres) below our historic resources are encouraging especially when considering there are 10 major mines within 15 kilometres of our project including Bunker Hill on our border, where all have been mined between 4,000 feet and 10,000 feet below surface. Silver Valley is encouraged that, at only 2,644 feet below elevation, there is a long way to go before the Page Mine’s depth is defined.  The drill hole intercepts continue to be hosted in the Revett formation; this is the host rock to the most prolific mines in the District.”

Figure 1: Page Mine Extension Drilling

To view an enhanced version of Page Mine extension drilling:  https://tinyurl.com/bdzjvjp2

The Company considers the Page Mine an anchor for the greater Ranger-Page Project, exhibiting that it can be a key component to the overall strategy of the Company to define additional and substantial high-grade resources at depth beyond the historic resources defined thus far. Combining what the Company firmly anticipates is significant mineralization located at the Blackhawk mine, where the mine stopped operating only due to the past operator, Asarco, ending the lease mining contract with the previous owner.  The mine is located approximately 1 kilometre to the east of Page, is connected at depth to the Page with underground workings and remains open at approximately 365 metres below elevation, less than half the depth of the Page mine.  

In-Situ Page Mine Historic Resources:

* Silver Equiv. and Zinc Equiv. assumptions: Silver (Ag) price of US$20.00/oz, Zinc (Zn) price of US$1.40/lb, Lead (Pb) price of US$1.00/lb **Source: United States Geological Survey (USGS) Page Mine – https://mrdata.usgs.gov/mrds/show-mrds.php?dep_id=10073450

*The historical resources do not constitute what is remaining in the mine but rather, defines what ASARCO outlined for next steps during mining.

To view an enhanced version of the in-situ Page Mine Historic Resources:  https://tinyurl.com/3x24ws4f

Continuing further to the east are several shallow near surface past producing mines that ceased mining operations for various reasons and following that the project’s entire mining area was halted over the past 40+ years due to the closure by the EPA.  Exploration and mining have recommenced once again in the Silver Valley mining corridor and this is the first time the Ranger-Page project area has been consolidated by one Company.

Figure 2: Historic Mines Locations

To view an enhanced version of Historic Mines locations: https://tinyurl.com/4xt5s9cw

Lastly, the press release dated September 12, 2022, has highlighted 4 new high-priority areas outside known projections from underground mineralization associated with the Company’s 6 past producing mines (see news release at https://silvervalleymetals.com/2022/09/12/silver-valley-metals-provides-an-exploration-update-at-its-ranger-page-project-in-the-silver-valley-idaho/ for new target area descriptions).  This is considered a significant development for the project as the potential mineral endowment has increased using modern exploration techniques.  In addition to the 6 past producing mines and their associated mineralization (strong drill targets), the recently identified geophysical, geochemical, and structural anomalies and new vein structures identified on surface represent further potential to deliver shallow exploration targets for the inaugural drill campaign.  These shallow targets are part of the overall strategy of defining new resources near surface to complement the deeper high-grade mineralization and resources located between half a kilometre to 1.5 kilometres to the east of the Blackhawk and Page mines.  

Figure 3: New Target Areas

To view an enhanced version of New Target Areas: https://tinyurl.com/k6ea533h

---

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.

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.