Mr. Bryan Slusarchuk reports

ESPERANZA SILVER DE MEXICO, S.A. DE C.V. EXPANDS COMMUNITY WORK WITH TETLAMA

Zacatecas Silver Corp. subsidiary Esperanza Silver de Mexico, S.A. de C.V. continues to build on its relationship with the Tetlama community, the host community of the Esperanza gold project.

Tetlama, a community of landowners within which 100 per cent of the Esperanza deposit and key infrastructure is located, supports the development of the mining operations and as host community to the project, continues to work closely with Zacatecas as the company advances the project forward.

The company continues to provide social benefit support with programs currently implemented including: medical assistance, funerary compensation, educational scholarships and the community forest fire fighting brigade. The forest fire fighting brigade employs 15 people from the Tetlama community, for the duration of the dry season (January to June), when the risk of fires is greatest. Recently, the company has agreed to provide financial support for the construction of the first stage of a new community cemetery, combining resources with the community nucleus, an important initiative identified by Tetlama as being crucial infrastructure for the community.

Esperanza Silver de Mexico S.A. de C.V. general manager, Jos Hantelmann, states: "We are pleased to contribute to the construction of a new cemetery, which is an essential infrastructure project that will serve the community in the years to come. Having access to a cemetery is of the utmost importance to satisfy religious beliefs and to fulfil human dignity." As announced on Feb. 14, 2023, Esperanza Silver de Mexico S.A. de C.V. entered into a strategic alliance with the Tetlama community for the development of the Esperanza gold project, which is located within Tetlama. As part of the strategic alliance, the Tetlama community confirmed that the extraction of minerals is a strategic activity to further the development of the Tetlama community. Accordingly, each of the company and the Tetlama community are firmly committed to develop the Esperanza gold project for the benefit of all stakeholders.

About Zacatecas Silver Corp.

The company has two key projects: the Esperanza gold project in Morelos state, Mexico, and the Zacatecas silver project in Zacatecas state, Mexico. Esperanza is an advanced stage, attractive, low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico. Alamos has progressed the project through advanced engineering, including metallurgical work, while also focusing on stakeholder engagement, including building community relations. The company announced a mineral resource estimate at Esperanza consisting of a measured and indicated mineral resource estimate of 30.5 million tonnes at 0.97 gram per tonne gold equivalent for 956,000 ounces AuEq and an inferred mineral resource estimate of 8.7 million tonnes at 0.98 g/t AuEq for 277,000 ounces AuEq (see news release dated Nov. 16, 2022). The Zacatecas silver project is located in Zacatecas state, Mexico, within the highly prospective Fresnillo silver belt, which has produced over 6.2 billion ounces of silver. The company holds 7,826 hectares (19,338 acres) of ground that is highly prospective for low-sulphidation and intermediate-sulphidation silver base metal mineralization and potentially low-sulphidation gold-dominant mineralization. The company announced a mineral resource estimate at the Panuco deposit consisting of 2.7 million tonnes at 187 grams per tonne (g/t) silver equivalent (AgEq) (171 g/t silver (Ag) and 0.17 g/t gold (Au)) for 16.4 million ounces AgEq (15 million ounces silver and 15,000 ounces gold) (see news release dated Dec. 14, 2021). The property is 25 kilometres (km) southeast of Mag Silver Corp.'s Juanicipio mine and Fresnillo PLC's Fresnillo mine. The property shares common boundaries with Pan American Silver Corp. claims and El Orito, which is owned by Endeavour Silver.

We seek Safe Harbor.