IPT.V · 2024-01-17 12:00:00

IMPACT Silver Intersects 6.9 Meters with 10.22% Zinc, 5.43% Lead and 27.7 g/t Silver in First Drill Results at the Plomosas Mine

Drill Results

IMPACT Silver Intersects 6.9 Meters with

10.22% Zinc, 5.43% Lead and 27.7 g/t Silver in

First Drill Results at the Plomosas Mine

Vancouver, British Columbia--(Newsfile Corp. - January 17, 2024) - IMPACT Silver Corp. (TSXV: IPT)

(OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce initial results of an

ongoing exploration program being undertaken at the recently acquired Plomosas zinc (-lead-silver)

mine in northern Mexico.

Highlights include drill hole TAS-23-18 which cut three mineralized intervals: 2.7

meters with 11.07% zinc and 9.24% lead, 6.9 meters with 10.22% zinc and 5.43% lead, and 3.6 meters

with 10.91% zinc and 2.07% lead.

The Company has undertaken a surface drill program to test mineralization near the "Très Amigos"

section of the mine and has conducted a sampling program in stopes of the Plomosas mine that were

partially exploited by the previous operator.

HIGHLIGHTS

Initial drill results from the Très Amigos drill program have confirmed the presence of high-grade

mineralization in the Juarez horizon, near accessible mine workings on levels 2, 5 and 7.

Reported

down-hole intervals are believed to represent true widths for the mineralization.

Drill hole TAS-23-9 intersected three intervals, 5.70 meters (m) with 7.9% zinc, 5.3% lead

and 23.2 g/t silver, 3.46m with 9.37% zinc, 5.24% lead and 25.9 g/t silver, and 1.5m with

11.89% zinc, 3.09% lead and 64.3 g/t silver.

Hole TAS-23-16 cut two high grade intervals, 10.8 m with 6.30% zinc, 0.80% lead and 14.7

g/t silver, and 6.43 m with 8.99% Zinc, 1.16% Lead and 16.6 g/t Silver.

Hole TAS-23-18 cut three intervals, 2.7 m with 11.07% zinc, 9.24% lead and 34.7 g/t silver,

6.9 m with 10.22% zinc, 5.43% lead and 27.7 g/t silver, and 3.6 m with 10.91% zinc, 2.07%

lead and 50.0 g/t silver.

Fifty-eight samples taken over a strike length of approximately 50 meters in the 880 stope on Level

8 of the Plomosas mine (Mina Vieja horizon) have yielded an average of 12.1% zinc, 5.8% lead

and 44 g/t silver over an average sample width of 1.8 meters.

Table 1.

HOLE

FROM (m)

TO (m)

Interval (m)

Zn %

Pb %

Ag g/t

TAS-23-006

151.16

155.09

3.93

4.09

0.66

7.5

TAS-23-007

173.62

176.58

2.96

4.89

0.06

11.7

201.35

202.64

1.29

18.19

0.06

4.5

TAS-23-009

189.76

195.46

5.70

7.94

5.28

23.2

includes

192.00

195.46

3.46

9.37

5.24

25.9

201.08

202.58

1.50

11.89

3.09

64.3

TAS-23-010

287.20

288.64

1.44

5.89

0.89

12.9

323.17

324.00

1.41

4.30

0.67

23.9

329.10

332.87

3.77

5.02

0.81

18.9

TAS-23-012

317.75

320.15

2.40

6.02

0.44

17.3

TAS-23-014

251.75

253.25

1.50

3.30

12.45

37.2

TAS-23-015

283.27

284.77

1.50

4.50

2.80

33.3

TAS-23-016

258.56

267.80

9.24

4.05

0.45

6.1

includes

261.28

263.26

1.98

9.15

1.37

12.7

and

265.95

267.80

1.85

8.67

0.72

12.6

TAS-23-018

271.62

274.32

2.70

11.07

9.24

34.7

281.00

287.90

6.90

10.22

5.43

27.7

308.25

311.85

3.60

10.91

2.07

50.0

Highlights of drill hole assays from the Plomosas mine, Tres Amigo program

Downhole intervals are approximate true widths.

Table 2

Drill hole data for holes in this release.

Hole ID

Easting

Northing

Elevation (m)

Azimuth

Inclination

Total depth (m)

TAS_23_001

476,176

3,216,563

1,143

245

-54

201.25

TAS_23_002

476,177

3,216,563

1,143

240

-75

231.00

TAS_23_003

476,180

3,216,565

1,143

-90

183.00

TAS_23_004

476,180

3,216,521

1,154

232

-80

202.50

TAS_23_005

476,182

3,216,523

1,154

-76

195.00

TAS_23_006

476,278

3,216,543

1,129

234

-44

253.50

TAS_23_007

476,278

3,216,544

1,129

235

-60

252.00

TAS_23_008

476,280

3,216,548

1,156

237

-75

321.00

TAS_23_009

476,278

3,216,543

1,129

235

-90

313.50

TAS_23_010

476,280

3,216,548

1,155

235

-79

351.00

TAS_23_011

476,423

3,216,645

1,149

235

-63

246.00

TAS_23_012

476,423

3,216,645

1,149

235

-77

321.00

TAS_23_013

476,435

3,216,628

1,148

235

-45

315.00

TAS_23_014

476,435

3,216,628

1,148

235

-60

376.50

TAS_23_015

476,435

3,216,628

1,148

235

-75

351.00

TAS_23_016

476,435

3,216,628

1,148

235

-68

321.75

TAS_23_017

476,435

3,216,628

1,148

235

-83

378.00

TAS_23_018

476,472

3,216,605

1,146

235

-59

312.00

Coordinates in UTM WGS84.

CEO STATEMENT

Chairman and CEO Fred Davidson commented,

"We are pleased that our initial drilling and

underground sampling program has returned high grades over mining widths in line with expectations

at Plomosas. Our field crews have also begun exploration activity beyond the immediate mine area

and have already identified some high priority drill targets. On the production side, the restart of

mining and processing operations has gone well after an extended period of rehabilitation and

upgrading of facilities and equipment, and we look forward to a full year of revenue generating

production from Plomosas in 2024."

TRES AMIGOS DRILL RESULTS

The Plomosas mine, a historic high grade zinc producer in northern Mexico (Fig. 1), was recently

acquired by the Company which has undertaken a surface drill program in the Très Amigos area of the

mine and has conducted an underground sampling program in stopes of the Plomosas mine which were

partially exploited by the previous operator.

Mineralization at the Plomosas mine occurs as zinc-rich

Carbonate Replacement Deposits along certain horizons of the local sedimentary rock sequence.

Two

main mineralized horizons have provided the bulk of historic production, the Mina Vieja marble and the

Juarez limestone, where structural ground preparation along these two units resulted in concentrations of

zinc, lead and silver (Figure 2).

The Company initiated an exploration drill program of the Juarez limestone in the Tres Amigos area to

test mineralization near workings with known mineralization from historic work (Figure 3).

Mineralization

in the Juarez limestone generally forms pods of high-grade zinc and lead at and near the contact with an

overlying shale, and drill results such as reported here indicate potential for a large body of

mineralization in this area (Figure 4), providing impetus for further exploration.

The Company also conducted an underground sampling program in mine workings between levels 8 and

9 that the former operator partially exploited along the Mina Vieja horizon (Fig. 5).

These high-grade

results are being evaluated in relation to the mill upgrades the Company has recently completed.

ABOUT IMPACT SILVER

IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.

Royal Mines of Zacualpan Silver-Gold District

: IMPACT owns 100% of the 211 km

Zacualpan

project in central Mexico where three underground silver mines and one open pit mine feed the

central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd

processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred 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 and QP statement). Company engineers are reviewing

Capire for a potential restart of operations. Over the past 17 years, IMPACT has placed multiple

zones into commercial production and produced over 12 million ounces of silver, generating

revenues over $256 million, with no long-term debt.

Plomosas Zinc-Lead-Silver District:

Plomosas is a high-grade zinc producer in northern Mexico

with exceptional exploration upside potential where only 600m of the 6 km-long structure have seen

modern exploration to date. This is in addition to other exploration targets on the 3,019-hectare

property including untested copper-gold targets with indications of high-grade material from

surface. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate

replacement deposits in the world.

Quality Control/Quality Assurance

Samples take by the Company were analyzed by ALS Group, an internationally recognized analytical

services provider, and by the laboratory at the Plomosas mine.

Samples analyzed by ALS used fire

assay with an AA finish for gold and a multielement ICP package for other metals.

Assays for metals

>1% used an overlimit ICP method.

For samples with >30%Zn a wet chemical method is used.

For

analyses at the mine, all metals are analyzed by AA.

For some samples with >30% Zn, the analysis from

the mine lab was used if an overlimit from ALS was not available. Certified Reference Materials and

internal control samples are added to the sample stream at regular intervals to track accuracy of assays.

Qualified Person and NI 43-101 Disclosure

Craig Gibson, PhD, CPG, is a "Qualified Person" within the meaning of NI 43-101 and has approved the

technical information contained in this news release.

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"

President & CEO

For more information, please contact:

Jerry Huang

CFO | Investor Relations

O: (604) 681 0172 or

[email protected]

C: (778) 887 6489 Direct

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. Forward-Looking information is often, but not

always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned",

"expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar

expressions, or describes a "goal", or variation of such words and phrases or state that certain actions,

events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such

statements include, but are not limited to, statements regarding activity at the Plomosas

mine,and

estimated timing thereof, the potential for defining and extending the known mineralization, and plans for

drilling and future operations at the Company's projects.

Such forward-looking information involves known and unknown risks and assumptions, including with

respect to, without limitation, 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, pandemics 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 or beliefs, opinions, projections or other factors, except as required by law.

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 NI 43-101, the Company is required to disclose that it has not based its

production decisions on NI 43-101 mineral resources or reserve estimates, preliminary economic

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

failure.

303-543 Granville Street Telephone

604 664-7707

Vancouver, BC, Canada V6C 1X8

www.impactsilver.com

Twitter

Figure 1: Location map of Plomosas Mine and nearby mines and infrastructure. References to nearby

projects are for information purposes only and there are no assurances that Plomosas will achieve