Norseman Silver Inc. Announces $1,500,000 Non- Brokered Private Placement

Norseman Silver Inc. Announces $1,500,000 Non-

Brokered Private Placement

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND

IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE

SERVICES OR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia – July 19, 2021 – Norseman Silver Inc. (TSXV:NOC)

(“Norseman” or the “Company”) is pleased to announce that intends to complete a

proposed non-brokered private placement financing (the ''Offering'') for gross proceeds

of up to $1,500,000 composed of up to 4,545,454.55 units (“Units”) at a price of

CAD$0.33 per Unit.

Each Unit will consist of one common share (“Common Share”) and one Common

Share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to

purchase one Common Share at a price of CAD$0.43 per Common Share until the date

which is twelve (12) months from the date of issuance.

The Company intends to use the net proceeds from the Offering for general corporate

and working capital purposes, as well as drilling on the Silver Vista property and

exploration on Norseman’s silver assets in British Columbia and Argentina. The Offering

is subject to certain conditions including, but not limited to, the receipt of all necessary

approvals, including the approval of the TSX Venture Exchange and applicable

securities regulatory authorities. All securities issued and issuable pursuant to the

Offering will be subject to a four month and one day statutory hold period.

For further information, please contact:

Sean Hurd

Chief Executive Officer

T: 604 505-4554

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.

Neither 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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This News Release includes certain "forward-looking statements" which are not

comprised of historical facts. Forward looking statements include estimates and

statements that describe the Company’s future plans, objectives or goals, including

words to the effect that the Company or management expects a stated condition or

result to occur. Forward-looking statements may be identified by such terms as

“believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”.

Since forward-looking statements are based on assumptions and address future events

and conditions, by their very nature they involve inherent risks and uncertainties.

Although these statements are based on information currently available to the

Company, the Company provides no assurance that actual results will meet

management’s expectations. Risks, uncertainties and other factors involved with

forward-looking information could cause actual events, results, performance, prospects

and opportunities to differ materially from those expressed or implied by such forward-

looking information. Forward looking information in this news release includes, but is not

limited to, the Company’s objectives, goals or future plans, statements, exploration

results, potential mineralization, the estimation of mineral resources, exploration and

mine development plans, timing of the commencement of operations and estimates of

market conditions. Factors that could cause actual results to differ materially from such

forward-looking information include, but are not limited to failure to identify mineral

resources, failure to convert estimated mineral resources to reserves, the inability to

complete a feasibility study which recommends a production decision, the preliminary

nature of metallurgical test results, delays in obtaining or failures to obtain required

governmental, environmental or other project approvals, political risks, inability to fulfill

the duty to accommodate indigenous peoples, uncertainties relating to the availability

and costs of financing needed in the future, changes in equity markets, inflation,

changes in exchange rates, fluctuations in commodity prices, delays in the development

of projects, capital and operating costs varying significantly from estimates and the

other risks involved in the mineral exploration and development industry, an inability to

complete the Offering on the terms or on the timeline as announced or at all, an inability

to predict and counteract the effects of COVID-19 on the business of the Company,

including but not limited to the effects of COVID-19 on the price of commodities, capital

market conditions, restriction on labour and international travel and supply chains, and

those risks set out in the Company’s public documents filed on SEDAR. Although the

Company believes that the assumptions and factors used in preparing the forward-

looking information in this news release are reasonable, undue reliance should not be

placed on such information, which only applies as of the date of this news release, and

no assurance can be given that such events will occur in the disclosed time frames or at

all. The Company disclaims any intention or obligation to update or revise any forward-

looking information, whether as a result of new information, future events or otherwise,

other than as required by law.