Mr. Glenn Holmes reports

NSX SILVER ANNOUNCES LATE FILING OF ANNUAL FINANCIAL STATEMENTS

NSX Silver Inc. will not file its annual financial statements for the fiscal year ended Dec. 31, 2015, and the related management's discussion and analysis by the legal deadline of April 29, 2016. NSX Silver has made an application to the provincial securities commissions under National Policy 12-203 (cease trade orders for continuous disclosure defaults), requesting that a management cease trade order be imposed in respect of the late filing, rather than a cease trade order against all of NSX Silver's shareholders. NSX Silver's failure to file its audited financial statements by the prescribed deadline is due to NSX Silver making the necessary arrangements to complete the audit.

Should NSX Silver fail to file the appropriate default status report as prescribed by National Policy 12-203 (cease trade orders for continuous disclosure defaults), the securities commissions or regulators may as a result impose an issuer cease trade order against all shareholders of NSX Silver. NSX Silver expects to file its audited financial statements for the fiscal year ended Dec. 31, 2015, and the related management's discussion and analysis by May 31, 2016. NSX Silver confirms that it intends to provide default status reports for so long as it is in default of its requirement to file the annual financial statements.

NSX Silver also confirms that, at the date hereof, there are no insolvency proceedings against it and no other material information concerning the affairs of NSX Silver that has not been generally disclosed.

NSX Silver also announces that James D. Nicoll has been appointed to the company's board of directors subject to TSX Venture Exchange approval. Mr. Nicoll is chief executive officer of Canasur Gold Ltd., a gold exploration company. He was previously CEO of a real estate company with a portfolio of multifamily residential properties in the United States and prior to that spent 10 years with PricewaterhouseCoopers LLP as a vice-president in the corporate finance practice. Mr. Nicoll also worked with Yorkton Securities in public company finance and is a past commissioner of the Nova Scotia Securities Commission.