Mr. Jorge Monroy reports

REYNA SILVER ANNOUNCES CLOSING OF UPSIZED BROKERED PRIVATE PLACEMENT FOR C$5.0 MILLION

Reyna Silver Corp. has closed its previously announced best efforts private placement for gross proceeds of $5-million. The offering was upsized from original gross proceeds of up to $3-million and includes the full exercise of the agent's overallotment option. Under the offering, the company sold 13,888,889 units of the company at a price of 36 cents per unit. Red Cloud Securities Inc. acted as sole agent and bookrunner under the offering.

Each unit comprises one common share of the company and one-half common share purchase warrant. Each warrant shall be exercisable to acquire one common share of the company at a price of 50 cents at any time on or before June 24, 2024.

The company intends to use the net proceeds from the offering for: exploration at the company's Guigui and Batopilas properties in Chihuahua, Mexico; other exploration work; and general corporate and working capital purposes. The unit shares, warrants and warrant shares will have a hold period ending on Oct. 25, 2022. The offering is subject to the final approval of the TSX Venture Exchange.

The agent and members of its selling group received total cash commissions of $225,702 and were issued a total of 624,999 warrants. Each broker's warrant is exercisable to purchase one unit at a price of 36 cents at any time on or before June 24, 2024. In addition, the company issued 1,950 brokers' warrants that are exercisable to purchase common shares of Reyna at a price of 36 cents per share at any time on or before June 24, 2024.

About Reyna Silver Corp.

Reyna Silver is a growth-oriented junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and the United States.

Reyna's principal properties are the Guigui and Batopilas properties in Chihuahua, Mexico, and the Medicine Springs property in Nevada, United States. Guigui covers the interpreted source area for the Santa Eulalia carbonate replacement district, and Batopilas covers most of Mexico's historically highest-grade silver system. Medicine Springs, where the company has an option to acquire an 80-per-cent interest, appears to host a largely buried, widely developed CRD system.

We seek Safe Harbor.