Mr. Michael Romanik reports

SILVER DOLLAR ACQUIRES 100% OF NORA SILVER-GOLD PROPERTY AND PROVIDES PROJECT UPDATE

Silver Dollar Resources Inc. has acquired a 100-per-cent interest in Canasil Resources Inc.'s Nora property located in Durango state, Mexico, pursuant to the terms of the Nora option agreement, previously announced on April 20, 2023.

The Nora property is situated in the Eastern Sierra Madre subprovince, in the transition to the high plateau of Mexico, the property lies centrally within the Silver trend that runs from the northwest to the southeast through Durango state. Significant deposits in the region include Endeavour Silver's Guanacevi mine and Fresnillo's San Julian mine on trend to the northwest, with Endeavour Silver's Pitarrilla project approximately 50 kilometres (km) to the east. Pitarrilla is one of the largest undeveloped silver deposits in the world and was discovered by Perry Durning and Frank (Bud) Hillemeyer, who serve as Silver Dollar's technical advisers.

In connection with the acquisition of the Nora property, Canasil waived certain obligations of Silver Dollar under the Nora option agreement on the basis that Silver Dollar encountered certain unresolved discrepancies in verifying the 2020 and 2021 drill results Canasil reported on the Nora property.

While analyzing and relogging drill core as part of its drill target development, Silver Dollar reassayed select core intervals from Canasil's previous drilling. A total of 161 core samples, plus 16 standards and blanks, were submitted to ActLabs in Zacatecas. This included 157 duplicates of the original core samples from drill holes NRC-20-01, NRC-20-04, NRC-20-06, NRC-21-09, NRC-21-10, NRC-21-11 and NRC-21-12. The ActLabs check assay values received for lead, zinc and copper closely mirror the original assay values Canasil received from ALS Global in Vancouver; however, the gold and silver values are significantly lower as follows:

For gold: Of the 157 samples duplicated, Canasil reported 42 samples greater than one gram per tonne Au (1.23 -- 43.7 g/t) including 18 samples greater than five g/t (5.3 to 43.7 g/t), whereas Silver Dollar's reassaying yielded only three samples greater than one g/t Au (1.04, 1.75 and 2.30 g/t).

For silver: Of the 157 samples duplicated, Canasil reported 44 samples greater than 200 g/t Ag (133 to 1,924 g/t) including 19 samples greater than 500 g/t Ag (504 to 1,925 g/t), whereas Silver Dollar's reassaying yielded only three samples greater than 100 g/t Ag (129, 158 and 448 g/t).

The QPs from both companies discussed the situation and recommended a further analytical program be carried out to provide some insight into what may have caused the assay discrepancies. However, Canasil did not have the financial resources to contribute to the recommended program and alternatively offered to waive certain of Silver Dollar's consideration obligations under the Nora option agreement and transfer 100-per-cent ownership of the Nora property to Silver Dollar for the consideration that has been provided to date (as detailed herein), subject to a 2-per-cent net smelter returns royalty (the royalty) with Silver Dollar having the right to buy back 1 per cent of the royalty for $1-million. As of the date hereof, Silver Dollar has incurred a total of approximately $134,779 in exploration expenditures on the Nora property, as full consideration for the acquisition thereof. Silver Dollar is not required to provide any further consideration to Canasil to complete the acquisition and the transfer of the Nora concessions to Silver Dollar has been initiated.

The company previously reported selected highlights from Canasil's 2020 and 2021 drilling programs on the Nora property, which included the discrepancies noted herein, in its news releases of May 24, 2023, June 20, 2023, and Aug. 1, 2023, on its website, in its material change report dated April 20, 2023, and its management's discussion and analysis of May 31, 2023. In addition to containing discrepancies, the company has determined that the disclosure did not conform to National Instrument 43-101 standards and should not be relied upon. Accordingly, the company retracts the non-compliant prior disclosure of results from Canasil's 2020 and 2021 drilling programs in respect of the Nora property from its disclosure record.

"Although the assay discrepancies from the Candy vein drill core are puzzling, the Nora property has other priority exploration targets that we intend to follow up on while we take a closer look at the Candy vein structure," said Michael Romanik, president of Silver Dollar.

Mike Kilbourne, PGeo, an independent qualified person (QP) as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company. The QP and the company have not completed sufficient work to verify the information on the Nora property, particularly regarding historical exploration, neighbouring companies and government geological work.

About Silver Dollar Resources Inc.

Silver Dollar is a mineral exploration company that is fully financed to execute its near-term exploration plans having closed its last financing with lead orders from billionaire mining investor Eric Sprott and New York Stock Exchange-listed First Majestic Silver. The company's primary projects lie within Mexico's prolific Durango-Zacatecas silver-gold belt and include the flagship La Joya silver (Cu-Au (copper-gold)) property and the Nora silver-gold property. Management has an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.

We seek Safe Harbor.