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IPT.V ·

IMPACT Silver Announces Stock Option Grant

Share Capital & Compensation

NEWS RELEASE

IMPACT Silver Corp.

For Release: Oct 8, 2021 Trading Symbol: “IPT: TSX.V”

ISVLF:US

IMPACT Silver Announces Stock Option Grant

IMPACT Silver Corp. (“IMPACT” or the “Company”) announces that it has granted, pursuant to

its stock option plan, a total of 2,300,000 stock options to directors, officers, and employees

exercisable at a price of $0.48 per share for a five year term.

About IMPACT Silver

IMPACT Silver Corp. is a successful silver-gold explorer-producer with two processing plants on

adjacent districts within its 100% owned mineral concessions covering 211km2 in central Mexico

with excellent infrastructure and labor force. Over the past 15 years, IMPACT has produced over

10 million ounces of silver, generating revenues over $202 million, with no long-term debt. At the

Royal Mines of Zacualpan Silver District, three underground silver mines and one open pit mine

feed the central Guadalupe processing plant. To the south, in the Mamatla District, the Capire

processing pilot plant is adjacent to an open pit silver mine with a mineral resource of over 4.5

million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated

January 18, 2016 for details); Company engineers are reviewing Capire for restart of operations in

light of current rising silver prices. With 15 years of exploration successes leading to production

cash flows, IMPACT has shown the Zacualpan Silver-Gold District to be endowed with many high

grade epithermal silver-gold zones.

Additional information about IMPACT and its operations can be found on the Company website at

www.IMPACTSilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at

https://www.linkedin.com/company/impactsilver

On behalf of IMPACT Silver Corp.

“Frederick W. Davidson”

Frederick W. Davidson

President & CEO

For more information, please contact:

Jerry Huang

CFO & Investor Relations

(604) 664-7707 or [email protected]

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.

Forward-Looking and Cautionary Statements

This IMPACT News Release may contain certain “forward- looking” statements and information relating to IMPACT

that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available

to IMPACT management. Such st atements reflect the current risks, uncertainties and assumptions related to certain

factors including but not limited to, without limitations, exploration and development risks, expenditure and financing

requirements, title matters, operating hazards, met al prices, political and economic factors, competitive factors, general

economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision,

seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties

materialize or change, or should any underlying assumptions prove incorrect, actual results and forward- looking

statements may vary materially from those described herein. IMPACT does not assume the obliga tion to update any

forward-looking statement.

The Company’s decision to place a mine into production, expand a mine, make other production related decisions or

otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports

based on exploration, development and mining work by the Company’s geologists and engineers. The results of this

work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral

production and financial returns of the Company since 2006. Under NI43- 101 the Company is required to disclose that

it has not based its production decisions on NI43-101- compliant mineral resource or reserve estimates, preliminary

economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.