Mr. Steven Sirbovan reports

ICG SILVER & GOLD ADVANCES PHASE 1 DRILLING TO 2,525 METERS ACROSS FOUR TARGETS AT TUSCARORA DISTRICT, NEVADA

ICG Silver & Gold Ltd. has provided an update on its continuing phase 1 drill program at the company's Tuscarora district project in Elko county, Nevada.

Drilling has advanced approximately 8,286 feet (2,525 metres) across 10 holes at the Silica, Battle Mountain, Kings Vein and East Pediment target areas. To date, drilling at each of the completed target areas has encountered the geological horizons interpreted in the company's 3-D subsurface model, which already includes over 40,000 metres of historical drilling.

The phase 1 drill program is designed to test and refine the company's geological model across several priority target areas within the Tuscarora district and provide additional subsurface information to support continuing evaluation of the project. Silica, Battle Mountain and East Pediment are targets with historical drilling, and the company aims to infill and expand on the current model. Kings Vein represents an exploration target refined through mapping, surface rock-chip and soil sampling, and CSAMT (controlled-source audio-frequency magnetotelluric) geophysical data.

Drill program highlights:

• Silica: Three holes totalling approximately 2,215 feet (675 metres) have been completed.
• Battle Mountain: Three holes totalling approximately 2,650 feet (807 metres) have been completed.
• Kings Vein: One hole totalling approximately 840 feet (256 metres) has been completed.
• East Pediment: Drilling has advanced through three holes totalling approximately 2,581 feet (787 metres), with drilling currently continuing. Two additional holes are planned at East Pediment.

"Reaching the modelled target horizons across each of the areas drilled to date is an important first step in testing the geological framework we developed ahead of this program," said Steven Sirbovan, president, chief executive officer and a director of ICG Silver & Gold.

"The consistency between our current model and what we are encountering in the subsurface is allowing us to refine our interpretation of the system in real time as drilling progresses. With assays pending and additional drilling under way at East Pediment, we continue to build the data set needed to evaluate continuity between historical drilling and advance the broader geological model at the Tuscarora district," said Korbon McCall, vice-president of exploration.

Based on encouraging technical indications as part of preliminary geological logging at Silica, Battle Mountain, Kings Vein and East Pediment, combined with the objective of maximizing the technical information generated from the remaining phase 1 metres, the company has reallocated drilling previously planned for Grand Prize and Modoc targets to two additional holes at the East Pediment target. The Grand Prize and Modoc targets are expected to be drilled in future programs.

Next steps

Drilling continues at East Pediment, with two more holes planned.

As assay results are received and validated, the company will integrate assay data with geological logging and the existing three-dimensional model to:

• Evaluate gold and silver mineralization within the targeted horizons;
• Assess geological and mineralized continuity between drill holes;
• Refine structural and stratigraphic controls on mineralization;
• Prioritize follow-up and stepout drilling;
• Continue advancing the Tuscarora district geological model toward future resource definition work.

Assay results from the phase 1 drill program will be published once the company has received and interpreted the data and completed its quality assurance and quality control procedures.

Quality assurance/quality control

Drill samples from the Tuscarora phase 1 exploration program are being submitted to an independent analytical laboratory for preparation and analysis. The company maintains a QA/QC program that includes the regular insertion of certified reference materials, blanks and duplicate samples into the sample stream.

Qualified person statement

The scientific and technical information contained in this news release has been reviewed and approved by Steven L. McMillin, PG, of Rangefront Mining Services, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and an independent consultant to the company.

About ICG Silver & Gold Ltd.

ICG Silver & Gold is a new mineral exploration and development company advancing the Tuscarora district in northern Nevada. The company's strategy is centred on:

• Advancing the Tuscarora district through systematic exploration and technical studies;
• Building a district-scale geological model;
• Progressing the project toward resource definition and future development.

The Tuscarora district is a silver-gold epithermal system at the intersection of the Carlin and Independence trends, approximately one hour northwest of Elko, Nev. ICG controls 100 per cent of the approximately 10,000-acre land package, on which extensive rock-chip sampling, thousands of metres of reverse circulation and core drilling, and tens of kilometres of CSAMT geophysics have been completed. ICG believes in the long-term value of precious metals exploration, especially silver and gold, and is led by a technical and management team with extensive experience in exploration, permitting, capital markets and the development of mining projects in the Western United States, including Nevada.

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