Mr. Jorge Ramiro reports

REYNA SILVER ANNOUNCES 2 MILLION CAD LISTED ISSUER FINANCING EXEMPTION (LIFE) PRIVATE PLACEMENT AND CONCURRENT PRIVATE PLACEMENT OF UNITS

Reyna Silver Corp. has arranged a non-brokered LIFE (listed issuer financing exemption) private placement of up to 12.5 million units of the company at a price of 12 cents per unit for gross proceeds of up to $1.5-million. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of 20 cents for a period of 36 months from the date of issuance.

The offering is expected to close in one or more closings and the company expects to close the first tranche on or about March 6, 2024, or such earlier or later date as the company may determine. Closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the offering is being made pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities offered under the exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document relating to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

In addition to the offering, the company may, at its discretion, complete a concurrent non-brokered private placement of up to 4,166,667 units for gross proceeds of up to approximately $500,000 to purchasers pursuant to other applicable exemptions under NI 45-106. It is anticipated that insiders of the company will participate in the concurrent private placement. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The concurrent private placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities will exceed 25 per cent of the company's market capitalization.

The closing of the concurrent private placement may take place in one or more tranches as determined by the company and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX-V.

All securities issued in connection with the concurrent private placement will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

The company may pay certain eligible finders a cash fee of up to 7 per cent of the gross proceeds raised in respect of the offering and the concurrent private placement from subscribers introduced by such finders to the company. The company may also issue to eligible finders such number of finder warrants equal to 7 per cent of the number of units sold under the offering or the concurrent private placement to subscribers introduced by such finders to the company. The finder warrants, to the extent they are issued, shall entitle the holder thereof to acquire one common share at a price of 12 cents per common share for a period of 36 months from the date of issuance.

The company will use the net proceeds of the offering and the concurrent private placement for the exploration of the company's Gryphon Summit project, Guigui project, Batopilas project and Medicine Springs project (as defined herein), other exploration work, and for general corporate and working capital purposes.

About Reyna Silver Corp.

Reyna Silver is a growth-oriented junior exploration and development company. The company focuses on exploring for high-grade, district-scale silver deposits in Mexico and the United States. In Nevada, United States, the company has recently entered into an option to acquire 70 per cent of the 10,300-hectare Gryphon Summit project in a 50/50 partnership with Reyna Gold Corp. The Gryphon project shows features indicating uniquely superimposed/overprinted silver-lead-zinc-copper carbonate replacement (CRD), Carlin gold and critical metal mineralization. Also in Nevada, the company is advancing its option to acquire 100 per cent of the Medicine Springs project, where the company is exploring a potentially significant silver-lead-zinc-copper CRD/skarn/porphyry system. The company's Mexican assets are 100 per cent owned and include the Guigui project and the Batopilas project, both located in Chihuahua state. The Guigui project covers the interpreted source area for the Santa Eulalia carbonate replacement deposit district and Batopilas covers most of Mexico's historically highest-grade silver system.

We seek Safe Harbor.