Mr. Gary Lindsey reports

SILVER ONE ANNOUNCES $25 MILLION PRIVATE PLACEMENT FINANCING

Silver One Resources Inc. has arranged a non-brokered private placement financing of up to 43,104,000 units of the company at a price of 58 cents per unit for aggregate gross proceeds of $25,000,320.

Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at 80 cents per warrant share for a period of three years from the date of issue.

The units will be offered pursuant to Part 5A of National Instrument 45-106 (Prospectus Exemptions) as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption) to purchasers resident in Canada (other than the province of Quebec) and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus and registration exemptions in accordance with applicable laws. The securities issued under the offering to Canadian subscribers will not be subject to a hold period in Canada.

The company may pay finders' fees in connection with the offering as permitted by applicable securities laws and the rules of the TSX Venture Exchange.

There will be an offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

The net proceeds of the offering will be used on: (i) its drilling program at the Candelaria project; (ii) certain exploration and geophysics work at its mineral properties; (iii) metallurgical and environmental work at the Candelaria project; (iv) preparing a prefeasibility study on the Candelaria project; (v) annual mineral claim payments to the Bureau of Land Management; and (vi) general working capital purposes.

Closing of the offering may occur in one or more tranches as determined by the company. Closing is expected within three weeks or such other date as the company may determine, and is subject to the approval of the TSX Venture Exchange.

About Silver One Resources Inc.

Silver One is focused on the exploration and development of quality silver projects. The company holds a 100-per-cent interest in its flagship project, the past-producing Candelaria mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts downdip and potentially increasing the substantive silver mineralization along strike from the two past-producing open pits.

The company has staked 636 lode claims and entered into a lease/purchase agreement to acquire five patented claims on its Cherokee project located in Lincoln county, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 kilometres along strike.

Silver One also owns a 100-per-cent interest in the Silver Phoenix project. The Silver Phoenix project is a very high-grade native silver prospect that lies within the Arizona silver belt, immediately adjacent to the prolific copper-producing area of Globe, Ariz.

We seek Safe Harbor.