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Norseman Silver Amends Terms of Certain Warrants

Share Capital & Compensation

NORSEMAN SILVER AMENDS TERMS OF CERTAIN WARRANTS

Vancouver, British Columbia December 16, 2022 – Norseman Silver Inc. (TSXV:NOC) (Q:NOCSF)

(“Norseman” or the “Company ”) is pleased to announce the Company has, subject to TSXV approval,

extended the expiry date of the warrants issued on January 14, 2021 pursuant to its private placement for a

period of six months. All other terms, including the exercise price, remains the same. The new expiry dat e

for the warrants will be July 14, 2023.

About Norseman Silver

Norseman Silver is focused on acquiring, exploring and developing silver assets with upside potential in

the Americas. The Company’s current property portfolio includes the Taquetren silver pr oject, located in

Rio Negro, Argentina, and the Cariboo, Silver Vista, Silver Switchback projects, located in a prolific region

in central British Columbia, Canada. The Company’s shares are listed on the TSX Venture Exchange under

the symbol NOC and on the OTCQB under the symbol NOCSF. Learn more about Norseman Silver

at www.norsemansilver.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities

in the United States. The securities have not been and will not be registered under the United States

Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the

United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the

United States Securities Act) unless registered under the U.S. Securities Act and applicable state securities

laws or an exemption from such registration is available.

On behalf of Norseman Silver Inc.

Sean Hurd

President and CEO

For further information, please contact:

Sean Hurd

President and CEO

[email protected]

604-505-4554

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER

(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)

ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.