IPT.V · 2017-01-23 12:00:00

IMPACT Silver drills more high grade silver at San Ramon Deeps, including 4.12 meters of 1,613 g/t Silver and 11.08 meters of 248 g/t Silver

Drill Results

IMPACT Silver drills more high grade silver at San Ramon Deeps, including 4.12 meters of 1,613 g/t Silver and 11.08 meters

of 248 g/t Silver

Trading Symbol: "IPT: TSX.V"

VANCOUVER

Jan. 23, 2017

/CNW/ - IMPACT Silver Corp. ("IMPACT" or the "Company") is pleased to announce more high-grade silver from underground drilling

at the Deeps Zone of the San Ramon Mine in central

Mexico

. These new drill intersections extend the zone north of previously reported drilling where it continues

to be open for further expansion. New drill results are as follows:

SAN RAMON DEEPS DRILL RESULTS

Hole

Vein

From

Interval

True Width

No.

(meters)

(g/t)

(%)

UG4-05

Inmaculada

86.83

89.60

2.77

2.73

265

0.04

0.14

0.38

UG4-06

Inmaculada

88.55

93.07

4.52

4.12

1,613

0.47

0.55

1.66

Including

90.15

93.07

2.92

2.66

2,390

0.68

0.80

2.30

Including

90.80

91.90

1.10

1.00

5,440

1.22

0.95

4.95

Inmaculada2

102.85

115.00

12.15

11.08

248

0.13

0.29

0.93

Including

110.83

113.38

2.55

2.33

491

0.26

0.85

2.64

Including

110.83

111.28

0.45

0.41

1,030

0.65

2.85

7.73

UG4-07

Inmaculada

110.58

127.00

16.42

11.93

145

0.16

0.59

1.29

Including

119.55

126.18

6.63

4.82

242

0.18

0.38

1.27

UG4-08

Inmaculada

105.17

107.14

1.97

1.83

227

0.07

0.16

0.64

UG4-09

Esperanza

71.30

80.10

8.80

5.65

169

0.07

0.12

0.63

Including

76.75

80.10

3.35

2.15

282

0.14

0.22

1.42

Including

79.40

80.10

0.70

0.45

1,014

0.18

0.21

1.50

Inmaculada

119.44

121.00

1.56

1.48

655

0.09

1.04

1.54

Including

119.44

120.05

0.61

0.58

1,185

0.14

2.13

2.56

UG4-10

Esperanza

75.17

78.22

3.05

1.96

174

0.03

0.08

0.23

UG4-11

Inmaculada

125.40

127.00

1.60

1.11

297

0.06

0.37

0.94

The zone remains open for expansion down dip, up dip and to the north. The Esperanza Vein noted in the table is a second vein parallel to and close to the main

Inmaculada Vein

. Both veins are currently being mined. Drilling will resume when construction of a new underground drill station is completed on Level 22

(currently the deepest level in the mine) to enable drill testing of further extensions of the zone. Highlights of previous drill intersections at San Ramon Deeps

included 14.82 meters of 481g/t silver and 21.74 meters of 271g/t silver (see IMPACT Silver news releases dated

May 5, 2016

March 2, 2016

January 12, 2016

and

December 13, 2016

for details of previous drilling).

Cross sections images are linked here:

San Ramon Long Section

http://www.impactsilver.com/i/maps/SanRamon-IMPACT-Jan-2017.jpg

San Ramon

(Inmaculata) Vein Long Section

http://www.impactsilver.com/i/maps/SR-vein-Inmaculata-IPT-Jan-2017.png

San Patricio Long Section

http://www.impactsilver.com/i/maps/San-Patricio-vein-IPT-Jan-2017.png

The San Ramon Mine is located five kilometers southeast of IMPACT's 500 tonne per day Guadalupe processing plant in the Royal Mines of

Zacualpan

District of

central

Mexico

. The mine commenced production in 2006, and since then mining has occurred on 22 working levels over a vertical distance of 260 meters.

IMPACT discovered this deeper zone of high-grade mineralization in 2014 and began mining soon after. Since then this zone has been largely responsible for the

higher silver grades reported by IMPACT's Guadalupe mill and accounts for 40% of IMPACT's current production. To date this deep vein has been exposed in mine

workings on Levels 16.5, 18, 19, 20, 21 and 22 over a length of 180 meters. The recent drilling outlined the vein to a vertical distance of 60 to 80 meters below the

current mine workings and extended the zone to the north on a shallow raking projection. (For a section of the San Ramon Deeps Zone and drill holes, see the

San Ramon Mine slide in the PowerPoint presentation on the company website at

www.IMPACTSilver.com

Wojtek Jakubowski

, P.Geo., and

George Gorzynski

, P.Eng., Qualified Persons under the meaning of Canadian National Instrument 43

101, have approved the

technical content of this news release.

About IMPACT Silver:

IMPACT Silver Corp. is a silver producer with two processing plants on two adjacent projects within its 100% owned mineral concessions covering 357km2 in

central

Mexico

: the Guadalupe Production Centre and the Capire Processing Plant. At Guadalupe, three underground silver mines, including

San Ramon

, feed

the central 500 tpd processing plant located within the historic Royal Mines of Zacualpan Silver District. At Capire, the 200 tpd processing plant and open pit

silver mine are on care and maintenance waiting for a recovery in silver prices. Additional information about IMPACT and its operations can be found on the

Company website at

www.IMPACTSilver.com

On behalf of IMPACT Silver Corp.

"Frederick W. Davidson"

President & CEO

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 statements 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, metal 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 obligation 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.

SOURCE

IMPACT Silver

%SEDAR: 00001640E

For further information:

Jerry Huang, Manager Investor Relations, (604) 681 0172 or [email protected]

CO: IMPACT Silver

CNW 09:00e 23-JAN-17

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