Mr. Jed Richardson reports

SAFI SILVER PROVIDES UPDATE ON ADDANA DRILLING PROGRAM IN MOROCCO

Safi Silver Corp. has provided investors with an operational update on the continuing diamond drilling program at the company's Addana project in Morocco.

Drilling is complete on the first hole of the Addana campaign, and has commenced on the second hole. Hole No. 2 is expected to be completed before May 23. The current phase of drilling is focused on targets located in the southwestern portion of the Addana property, where historical work and recent field mapping have identified structurally controlled mineralized zones in quartz-carbonate veins, considered highly prospective for polymetallic silver mineralization.

The company reports that drilling operations have progressed smoothly to date. Recovery of drill core and geological logging is meeting the company's expectations. Once recovered, the core is systematically processed, photographed, logged, and prepared for sampling at the company's new and secure facilities in the town of Igdi prior to shipment for analytical testing.

Samples from the Addana drilling program will be analyzed by Afrilab, a SGS and ISO-certified independent analytical laboratory located in Marrakech, Morocco. The laboratory has previously been utilized by the company for exploration programs within Morocco and provides internationally recognized analytical services for precious and base metal exploration projects. Afrilab utilizes fire assay, atomic absorption spectroscopy (AAS) and inductively coupled plasma mass spectrometry (ICP-MS). Such methods are ideal for this program, given the precious and base metals mineralization targeted at Addana.

Dr. Andreas Rompel, Safi Silver's chief exploration officer, commented: "We are encouraged by the progress of the drill program thus far and pleased with the professionalism and efficiency of the local operating teams. As core is recovered, it is being geologically logged and sampled in batches to maintain a consistent flow of material to the laboratory. This approach allows us to maintain strong quality control procedures while ensuring timely assay turnaround as the program advances."

Jed Richardson, president and chief executive officer of Safi Silver, added: "Drilling at Addana represents another important milestone in Safi Silver's transition toward becoming a focused Moroccan polymetallic silver exploration company. We are particularly pleased to see the program advancing steadily, with the second hole anticipated to begin shortly. Safi Silver's is in a unique position to continue advancing our work in Morocco due to the sale of our ownership interest in the Kombat mine."

The initial drill program at Addana is designed to test priority targets identified through historical exploration, surface sampling, geological mapping and structural interpretation. The company expects to provide additional operational updates as drilling progresses and assay results become available.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Dr. Andreas Rompel, (PrSciNat, FSAIMM), chief exploration of Safi Silver, who is a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Safi Silver Corp.

Safi Silver is a publicly traded Canadian exploration and development company with a core focus on copper and silver holdings in mining-friendly African jurisdictions. In Morocco, the company is advancing two exploration projects: Addana, which hosts silver-bearing polymetallic veins, and Silver Hill, a sedimentary copper prospect undergoing continuing evaluation. In Namibia, Safi Silver holds the Kalahari copperbelt project.

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