Vancouver, British Columbia – September 28, 2022 – Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) (“Silver Valley” or the “Company”), a brownfields exploration Company with projects that comprise deposit(s) of lithium – potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico and silver-zinc-lead located in Idaho, USA respectively, announces a $500,000 unit financing.

Subject to the approval of the TSX Venture Exchange, Silver Valley Metals Corporation plans to undertake a non-brokered private placement of up to 5.55 million units at a price of nine cents per unit for gross proceeds of up to $500,000.  Each unit shall comprise one common share in the capital of the company and one half of a common share purchase warrant, with each full warrant entitling the holder to purchase one common share at a price of 18 cents per share at any time within two years of the date of issuance. All securities to be issued under this private placement will be subject to a four-month resale restriction.

The Company intends to close the private placement immediately following the satisfaction of customary closing conditions, including receipt of all regulatory approvals. The net proceeds of this private placement are earmarked for:

• Completing the phase 2 exploration campaign through to the end of the year at the Ranger-Page project; this includes completing the comprehensive geological model from four phases of geophysical surveys, numerous geochemical surveys including soil sampling, rock chip and trench sampling, LIDAR integration, and fieldwork structural interpretation.  These programs are ongoing.   Following this, a compelling multi-target drill plan will be developed and marketed for the upcoming inaugural drill campaign.
  
• To maintain its lithium – sulphate of potash (Li-SOP) project / deposit(s) in Mexico.  This includes financing the legal dispute regarding the lithium aspect of its deposits which the Company anticipates being resolved before the end of the year.  The expectation has been given from the Supreme Court of Mexico that they will provide an answer to the validity of the Company’s deposit(s) considering the amendment to the mining law that was undertaken by the Government this past April.  The Company’s challenge is that the amendment is not supported by the Mexican Constitution nor the international trade agreements between Canada and Mexico.
  
• Project option payments at Ranger-Page.
  
• General working capital including AGM, audit, overhead and marketing.

The Company continues to move its projects’ forward in a cost-effective manner with a very successful group of Silver Valley geologists and intends to complete significant milestones in the coming months that is anticipated to bring positive impact to all shareholders’.  Being in a tier one mining jurisdiction in Idaho and moreso, northern Idaho and the Silver Valley, possessing all patented claims, being the first company in this western sector of the Silver Valley to consolidate the area including an option to own the Page Mine (see news release regarding historic resources and mine extension drilling results), an option to own five additional historic mines and applying modern exploration to the entire project package for the first time, the Company anticipates  numerous compelling high priority targets will be defined at the conclusion of the exploration program in Q4 2022 / Q1 2023. (see press release regarding new target areas that are being defined outside the known and expected areas of mineralization).

And lastly, the 100% owned lithium and sulphate of potash deposits, the MexiCan project, is receiving little value in the market today but the Company remains hopeful for a positive resolution later this year which in turn will have a positive impact for all shareholders. 

Silver Valley Metals appreciates and thanks all shareholders for their support.

To subscribe for the private placement please email: [email protected]

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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.