Mr. Glenn Jessome reports

SILVER TIGER ANNOUNCES COMMENCEMENT OF UNDERGROUND DRILLING ON HIGH-GRADE VEIN, SULFIDE AND SHALE ZONES AND EXPECTS TO DELIVER A PEA FOR THE UNDERGROUND IN H1-2025

Silver Tiger Metals Inc. has begun its underground drilling campaign targeting the veins, the sulphide zone and the shale zone on its 100-per-cent-owned El Tigre silver-gold project located in Sonora, Mexico.

Glenn Jessome, president and chief executive officer, stated: "After the release of our robust PFS [prefeasibility study] on the near-surface, low-capex [capital expenditure] open-pit portion of the El Tigre project, our next goal will be to complete a PEA [preliminary economic assessment] on the underground component of the project in the first half of 2025. Our current underground drilling program is targeting the veins, the sulphide zone and the shale zone from our 400-metre-long rehabilitated haulage way. The new drill holes will provide new assay, geotechnical, metallurgical and geological information for the mineral resource blocks near the completed haulage way close to first development."

Underground drilling

The El Tigre project underground drilling campaign is targeting the veins, the sulphide zone and the shale zone located as close as 40 metres to the pre-existing haulage way. These high-grade zones, especially the historically mined veins with results up to 86.5 kilograms per tonne silver equivalent, form a crucial component of the UG PEA (see press release dated Nov. 9, 2021).

The drill rig and geological team are mobilized, and drilling has begun in a 5,000-metre array. Role Drilling of Hermosillo has been contracted for drilling HQ-oriented drill holes ranging in depth from 100 to 300 metres, offering a significant cost savings over drilling from surface. Assays are expected before the end of 2024.

Underground preliminary economic assessment

The corporation will also continue to work on this substantial, permitted underground mineral resource estimate and advance this toward a preliminary economic assessment by the first half of 2025.

Exploration potential

Exploration potential at the El Tigre project is substantial with prospective areas for exploration both down dip and along strike, with the disclosed exploration target establishing 10 million to 12 million tonnes at 225 to 265 grams per tonne silver equivalent for 73 million to 100 million ounces AgEq.

Qualified person

David R. Duncan, PGeo, vice-president of exploration of the corporation, is the qualified person for Silver Tiger, as defined under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information in this press release.

About Silver Tiger Metals Inc.

Silver Tiger Metals is a Canadian company whose management has more than 25 years of experience in discovering, financing and building large epithermal silver projects in Mexico. Silver Tiger's 100-per-cent-owned, 28,414-hectare El Tigre mining district is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.

We seek Safe Harbor.