SILVER VALLEY METALS CLOSES $685,874 NON-BROKERED PRIVATE PLACEMENT FINANCING

Silver Valley Metals Corp., further to its news releases dated July 18, 2023, and Aug. 1, 2023, has closed the second tranche of its private placement and has issued 385,000 common shares of the company at a price of 10 cents per share for gross proceeds of $38,500, 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 for the whole private placement, for aggregate gross proceeds of $685,874.10.

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, including a multikilometre trenching program, road building, preparations for a future drill campaign in 2023 and further field exploration, including additional geochemical surveys, detailed mapping and 3-D geological modelling.
• To maintain and advance its MexiCan lithium-sulphate of potash (Li-SOP) project/deposit(s) in Mexico, project development planning, 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 first tranche of the financing was 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 MI 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.

Cash finders' fees totalling $13,600 have been paid to certain finders, in accordance with exchange policies.

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

About Silver Valley Metals Corp.

Silver Valley Metals is a Canadian exploration company comprising 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.