Mr. Jorge Ramiro Monroy reports

REYNA SILVER AMENDS TERMS OF MEDICINE SPRINGS OPTION AGREEMENT

Reyna Silver Corp. has reached an agreement to amend the terms of its option agreement dated Aug. 20, 2017, with Stephen Sutherland and Herb Duerr (collectively, the optionors), pursuant to which Reyna has the option to acquire a 100-per-cent interest in the optionors' Medicine Springs project located in Nevada, United States. The option agreement was initially entered into between the optionors and Northern Lights Resources Corp. (NLR). Reyna acquired and assumed NLR's interest in and to the option agreement, and the underlying property, pursuant to an option interest acquisition agreement dated Dec. 14, 2022, between NLR and Reyna. Further details of the acquisition agreement are disclosed in the company's new releases dated Dec. 15, 2022, and Jan. 5, 2023. The amendments to the options agreement were effected by an amending agreement dated Nov. 10, 2023, between the optionors and Reyna.

"We are pleased to announce that our option partners, Herb Duerr and Stephen Sutherland, agreed to amend the terms of the Medicine Springs option agreement so our cash resources go to moving the project forward," said Jorge Ramiro Monroy, chief executive officer and president of Reyna Silver. "Herb and Stephen have extensive experience in exploration and are tremendous partners to work with. By agreeing to defer some cash payments and taking some additional equity in lieu of cash payments, they show their continued support for the project and Reyna Silver's approach to exploration at Medicine Springs."

The amending agreement defers a portion of the $450,000 (U.S.) cash payment that was previously due in February, 2024, and also converts a further portion to Reyna common shares. As a result of the amending agreement, the remaining mandatory and option payments required under the option agreement for Reyna to fully exercise its option on the property are as follows:

Mandatory payments:

• On or prior to Feb. 1, 2024: $100,000 (U.S.) in cash and $200,000 (U.S.) in common shares of Reyna (based on the 30-day volume-weigthed average price (VWAP) of Reyna's common shares on the TSV Venture Exchange prior to the date of issuance);
• On or prior to Oct. 1, 2024: $150,000 (U.S.) in cash and $100,000 (U.S.) in common shares of Reyna (based on the 30-day VWAP of Reyna's common shares on the TSX-V prior to the date of issuance).

Option payments:

• On or prior to Feb. 1, 2025: $225,000 (U.S.) in cash;
• On or prior to Oct. 1, 2025: $150,000 (U.S.) in cash.

In addition, the amending agreement acknowledges that Reyna has fulfilled all of its required exploration expenditure obligations under the option agreement. In the event that Reyna does not complete certain staking obligations on or prior to Feb. 1, 2024, the mandatory cash payment due on that date will be increased by $50,000 (U.S.).

The amending agreement and the issuance of Reyna common shares under the option agreement remain subject to the acceptance of the TSX-V.

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, plus Medicine Springs and Gryphon Summit in Nevada, U.S. Guigui covers the interpreted source area for the Santa Eulalia district, and Batopilas covers most of Mexico's historically highest-grade silver system. The company also has an option to acquire 100 per cent of the Medicine Springs CRD project in Elko county, Nevada, U.S., and the 10,300-hectare combined Carlin-style and CRD (carbonate replacement deposit) Griffin Summit project in Eureka county, Nevada, U.S., as well as several early-stage properties in Mexico.

We seek Safe Harbor.