Mr. Jorge Ramiro Monroy reports

REYNA SILVER ANNOUNCES $1,000,000 CAD LISTED ISSUER FINANCING EXEMPTION (LIFE) PRIVATE PLACEMENT OF UNITS

Reyna Silver Corp. has arranged a non-brokered listed issuer financing exemption (LIFE) private placement of up to 6.25 million units of the company at a price of 16 cents per unit for gross proceeds of up to $1-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 24 cents for a period of 24 months from the date of issuance.

"Given the increased appetite for silver equities, Reyna Silver has received interest from new and existing institutional investors. Reyna Silver's work at Gryphon resonates with investors, so we have decided to accept extra funding via this offering. These funds will allow us to have a more robust drill campaign at Gryphon. We are eager to start drilling the targets our team is busy finalizing in Nevada right now," said Jorge Ramiro Monroy, Reyna Silver's chief executive officer.

The offering is expected to close in one or more closings and the company expects to close the first tranche on or about May 10, 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 National Instrument 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 at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The company may pay certain eligible finders, including Red Cloud Securities Inc., a cash fee of up to 7 per cent of the gross proceeds raised in respect of the offering 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 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 16 cents per common share for a period of 24 months from the date of issuance.

The company will use the net proceeds of the offering for the exploration of the company's Gryphon Summit project, Guigui project, Batopilas project and Medicine Springs project (as defined below), 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.

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