Mr. Eric Sprott, a shareholder, reports

ERIC SPROTT ANNOUNCES CHANGES TO HIS HOLDINGS IN OUTCROP SILVER & GOLD CORPORATION

On March 9, 2024, 7.4 million common share purchase warrants of Outcrop Silver & Gold Corp. (held by 2176423 Ontario Ltd., a corporation Eric Sprott beneficially owns) expired unexercised, representing a decrease in holdings of approximately 5.0 per cent of the outstanding common shares on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these warrants, Mr. Sprott beneficially owned 31,042,800 shares and 19.4 million warrants, representing approximately 12.2 per cent of the outstanding shares on a non-diluted basis and approximately 18.4 per cent on a partially diluted basis assuming the exercise of such warrants.

As a result of the warrant expiry, Mr. Sprott now beneficially owns 31,042,800 shares and 12 million warrants, representing approximately 12.2 per cent of the outstanding shares on a non-diluted basis and approximately 16.2 per cent on a partially diluted basis assuming the exercise of such warrants. The warrant expiry, combined with previous new share issuances by Outcrop Silver & Gold, resulted in a partially diluted ownership change of greater than 2 per cent and, therefore, the filing of an update to the early warning report.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Outcrop Silver & Gold is located at 1111 West Hastings St., Suite 905, Vancouver, B.C., V6E 2J3. A copy of the early warning report with respect to the foregoing will appear on Outcrop Silver's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario Ltd., 7 King St. E, Suite 1106, Toronto, Ont., M5C 3C5).