Mr. Jorge Monroy reports

REYNA SILVER STARTS DRILLING AT MEDICINE SPRINGS

Reyna Silver Corp. has started drilling at its 6,561-hectare, 100-per-cent-optionality Medicine Springs project in Elko county, Nevada (see press release of June 9, 2023, and press release of Jan. 5, 2023). The planned 3,000-metre campaign builds on the 2022 reconnaissance drilling program, which found high-grade distal-style mineralization in a thick carbonate host rock package -- important indicators of a significant carbonate replacement deposit (CRD) (see press release of Jan. 17, 2023).

The 2023 drilling program focuses on the structural framework of Medicine Springs, including:

• The relationship between the prominent northeast-trending jasperoid-hosting structures (see press release of Jan. 10, 2022) and recently recognized north-south-trending alteration-controlling structures to identify the dominant mineralization pathways;
• Testing and ground truthing the recently completed magnetotelluric geophysical survey in the underexplored zone south of the historic Golden Pipe workings;
• Following near-surface oxidized mineralization to locate primary sulphides.

The initial key areas of interest will be the southern Golden Pipe corridor, Silver King, Silver Butte, Pediment and North zone. Further drill targets may emerge from continuing geophysical interpretation and drill results.

"We are excited to start drilling again at Medicine Springs to follow the high-grade mineralization we cut last year into what we now know is an extensive host rock package. Those results validated Medicine Springs is a Reyna Silver quality project, so we renegotiation our option to let us earn into 100 per cent and added over 210 additional claims, which is over 1,700 hectares," said Jorge Ramiro Monroy, chief executive officer of Reyna Silver. "As part of our disciplined ore systems approach to the project, since last year, we've run more geophysics, mapping and sampling to help us define high-potential drill targets ... now let's see what's there."

Qualified person

Dr. Peter Megaw, PhD, CPG, the company's chief exploration adviser and qualified person, reviewed the technical aspects of the exploration projects described herein and is responsible for the design and conduct of the exploration program and the verification and quality assurance of analytical results. Dr. Megaw is not independent as he and/or companies with which he is affiliated hold net smelter royalties on the Guigui and Batopilas projects that predate Reyna Silver acquiring them.

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.

We seek Safe Harbor.