Mr. Brandon Rook reports

SILVER VALLEY METALS FILES FOR FINAL APPROVAL TO CLOSE ITS NON-BROKERED PRIVATE PLACEMENT FINANCING

Silver Valley Metals Corp. has filed documents with the TSX Venture Exchange for final approval to close its previously announced (July 18, 2023) 10-cent-per-common-share, no-warrant private placement financing for aggregate gross proceeds of $685,874.10. On receipt of final exchange approval, the company will issue 385,000 common shares, which, together with the 6,473,741 common shares from the first tranche closing, results in 6,858,741 common shares being issued to subscribers.

Proceeds from the financing will be used for:

• Completing the phase 2 active exploration program at the Ranger-Page project in the Silver Valley, north Idaho, United States; this includes a multikilometre trenching program, road building, preparations for a future drill campaign in 2023, further field exploration, including additional geochemical surveys, detailed mapping and 3-D geological modelling;
• To maintain and advance its MexiCan lithium/sulphate of potash project/deposit(s) in Mexico; for project development planning; for evaluating additional opportunities related to lithium and potash exploration and development in Mexico; and lastly, to continue its partnership negotiations for the lithium aspect of its deposit(s) with LitioMx, the recently formalized national lithium company of Mexico;
• Project option payment for the Ranger-Page project;
• General working capital.

The financing has been effected with three insiders, for a total of 350,000 common shares for $35,000, each insider subscription being a related-party transaction as such term is defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on exemptions from the formal valuation requirement of MI 61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25 per cent of the company's market capitalization.

All securities issued pursuant to the financing will be subject to a four-month hold.

We seek Safe Harbor.