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Tier One Silver receives drilling permit for Curibaya

2022-08-02 13:59 ET - News Release

Mr. Peter Dembicki reports


Tier One Silver Inc. has received its environmental approval, the Declaracion de Impacto Ambiental (DIA), from the Peruvian Ministry of Energy and Mines for its 100-per-cent-owned Curibaya project in southern Peru. The DIA permit allows the company to extend the drilling boundaries to include the Cambaya target area and drill up to 200 holes from up to 20 new drill platforms.

Phase I of drilling at Curibaya targeted the source of the bonanza-grade silver and gold surface results and demonstrated that mineralization extends to depth. However, the best channel sample results were from the Cambaya target area, located northeast of the previously defined mineralized footprint and the phase I drill program. The Cambaya target is at a higher elevation, where less erosion has occurred, and therefore Tier One's technical team believes that there is a larger window for potential precious metal mineralization.

In phase II of drilling, the company intends to follow-up on some of the phase I drill intercepts and, additionally, the new DIA permit will allow the company to drill the most prospective targets in the Cambaya zone. The company is currently conducting a channel and rock sampling program to further define targets for the phase II drill program, which is also being designed to target untested copper porphyry targets that were identified in the first phase of drilling.

A message from Peter Dembicki, president, chief executive officer and director:

"Receiving the DIA permit is a key milestone for Tier One Silver as it will allow us to drill our highest-priority silver and gold target on the Curibaya project, in addition to newly developed copper porphyry targets. Our confidence in the potential of Curibaya has continued to increase as we explore the project. We look forward to our second phase of drilling, which will commence once the results from ongoing surface sampling and geophysical programs have been received."

Christian Rios (senior vice-president of exploration), PGeo, is the qualified person who has reviewed and assumes responsibility for the technical contents of this press release.

About Tier One Silver Inc.

Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The company's management and technical teams have a strong record in raising capital, discovery and monetization of exploration success. The company's exploration assets in Peru include Curibaya, Hurricane Silver, Coastal Batholith and Corisur.

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