Mr. David Coburn reports

MASIVO SILVER CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Further to the news release dated May 12, 2022, Masivo Silver Corp. has closed the first tranche of its non-brokered private placement. The company issued an aggregate of 11,036,000 units at a price of five cents per unit for gross proceeds of $551,800. Each unit consists of one common share and one common share purchase warrant, which entitles the holder to purchase an additional common share of the company at a price of 10 cents for a period of two years from the date of closing. The shares and underlying shares are subject to a four-month hold period. No finders' fees were paid in connection with the private placement.

The net proceeds of the offering will be used for due diligence on potential mineral concessions the company is currently looking at, as well as for general working capital.

About Masivo Silver Corp.

Masivo is a silver and gold exploration, development and ore processing company, exploring an aggregate of 14,000-plus hectares strategically located in the gold/silver-rich Sierra Madre occidental trend in western Mexico. The company's mill, located on its El Colomo property, is capable of processing up to 300 tons of ore per day.