Mr. Brandon Rook reports

SILVER VALLEY METALS RECEIVES CONDITIONAL APPROVAL FOR WARRANT EXERCISE INCENTIVE PROGRAM

Silver Valley Metals Corp. has received conditional approval from TSX Venture Exchange to proceed with the warrant exercise incentive program, previously announced June 13, 2023. The program will commence as of Monday, June 19, 2023, and terminate Friday, July 7, 2023.

Under the program, if the warrants that were issued from the company's private placement conducted in November, 2022, are exercised prior to 4 p.m. PT on July 7, 2023, the holders of the eligible warrants would receive one additional warrant in consideration of the early exercise of each eligible warrant. Each incentive warrant will be exercisable to acquire one common share of the company at a price of 11 cents per share for a period of two years from the date of issuance. The company believes this will give existing warrant holders a strong incentive to exercise their existing eligible warrants. The incentive warrants will be subject to a hold period of four months plus one day after the date of distribution.

In the event the warrant holder decides not to participate in the program the warrant holder may exercise their eligible warrants under the original terms. Directors and officers of the company own or control 576,667 (less than 5 per cent) of eligible warrants. The company is not aware of any potential new insider position that would be created upon the exercise of the eligible warrants nor the incentive warrants.

The company would receive gross proceeds of $1,934,567 from the incentive program if all eligible warrants from the November, 2022, placement are exercised. Funds will be used for further exploration expenditures and working capital.

About Silver Valley Metals Corp.

Silver Valley Metals is a Canadian exploration company comprised of a group of experienced exploration, mining and financing specialists focused on the pursuit of mineral discovery and development. The company is focused on the advancement of strategic and precious mineral properties including lithium-potash in Mexico and silver-zinc-lead in northern Idaho, United States.

We seek Safe Harbor.