Mr. Michael Romanik reports

SILVER DOLLAR TERMINATES EXCLUSIVITY PERIOD WITH CANASIL RESOURCES

Further to its news release of April 20, 2023, Silver Dollar Resources Inc. has terminated the exclusivity period provided in the exclusivity agreement signed with Canasil Resources Inc. due to general market conditions.

The purpose of the exclusivity agreement was to give Silver Dollar the opportunity to review Canasil's assets and consider a corporate merger. Termination of the exclusivity period does not affect the separate option agreement between the parties, whereby Silver Dollar can earn a 100-per-cent interest in Canasil's Nora silver-gold property.

Under the terms of the Nora option, Silver Dollar can earn a 100-per-cent interest in the Nora property by incurring total exploration expenditures of $3-million and making cash payments totalling $375,000 over five years. Upon earning a 100-per-cent interest in the property, Silver Dollar will grant Canasil a 3-per-cent net smelter return, with Silver Dollar having the right to buy back 1 per cent of the royalty for $3-million. After granting the royalty, Silver Dollar will also pay an annual royalty of $25,000 which will be offset against the 1-per-cent royalty buyback. For additional information on the property, see Silver Dollar's news release of May 24, 2023.

Pursuant to the agreements, Canasil now has 60 days to repay the $200,000 non-interest-bearing loan Silver Dollar provided in return for the exclusivity period and the Nora option.

About Silver Dollar Resources Inc.

Silver Dollar is a mineral exploration company that completed its initial public offering in May, 2020, and is fully financed for its 2023 exploration plans with approximately $5-million in the treasury. The company's primary projects lie within the prolific Durango-Zacatecas silver-gold belt and include the advanced exploration-stage La Joya silver property and the recently discovered Nora silver-gold property, both located in the state of Durango, Mexico. The company has an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.

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