The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced April 15, 2020.

Shares:  18 million

Price:  five cents

Warrants:  18 million share purchase warrants to purchase 18 million shares

Exercise price:  Each warrant is exercisable into one common share of the company at an exercise price of 10 cents, or, at the warrantholder's option, each 200 warrants is exercisable into one ounce of silver at an exercise price of $20 per ounce.

The exercise of the Silver Option into silver is subject to the following conditions:

1. The silver option may only be exercised after the company successfully mines and processes silver from the Bayhorse property prior to the maturity date of the warrants, provided that the company, at its sole discretion, delivers written notice to each warrantholder that they shall have the right to receive payment in kind by delivery of physical ounces of silver.
2. The exercise of the silver option is subject to a minimum of 5,000 warrants (25 ounces of silver).

Warrant term to expiry:  two years

Placees:  26

Insiders:  Rick Low 400,000; Graeme O'Neill 3.3 million

Finders' fees:  Canaccord Genuity Corp. $3,150 and 63,000 warrants; Leede Jones Gable Inc. $301 and 6,020 warrants; PI Financial Corp. $17,500 and 350,000 warrants; warrants are exercisable at 10 cents for two years