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Outcrop Announces Appointment of Chief Financial Officer

Management Changes

Outcrop Announces Appointment of Chief

Financial Officer

VANCOUVER, BC

,

Aug. 16, 2021

/CNW/ -

Outcrop Silver & Gold Corporation

(TSXV: OCG)

(OTCQX: OCGSF) (DE: MRG1) ("

Outcrop

") is pleased to announce the appointment of

Lisa

Peterson

to the position of Chief Financial Officer succeeding current CFO

Alex Tong

. Outcrop's

board of directors would like to thank Mr. Tong for his contributions in the role.

Ms. Peterson brings over 13 years' experience within the mining, renewable energy, infrastructure,

and professional services industries. Most recently, she served as Vice-President of Corporate

Reporting & Global Accounting at SkyPower Global, a large-scale, international, renewable energy

developer, and provider. Prior to joining SkyPower Global, Ms. Peterson spent 3 years at Barrick

Gold Corporation as Chief of Staff Capital Projects and Chief of Staff of the Frontera District in

Argentina

within their technical services, project development, and life of mine planning group. In

these roles, she helped advance large-scale projects, liaised with stakeholders and joint venture

partners, and performed value assurance reviews on the companies' operating and expansion

assets. Prior to joining Barrick, Ms. Peterson spent 5 years working at KGHM leading their

international Corporate Reporting group.

Ms. Peterson started her career in finance and accounting at KPMG. She is a Chartered Accountant

and holds a Bachelor of Business Administration degree from

Simon Fraser University

.

"I am pleased to announce another great addition to the Outcrop leadership team with the

appointment of Ms. Peterson," comments

Joseph Hebert

, Chief Executive Officer. "Lisa's expertise

and diverse experience will be an enormous asset to Outcrop. Coupled with the appointment of Dr.

Jesus Velador

as Vice President Exploration last week, we are building a world class management

team to steadily advance our Santa Ana project and support the continued growth of our company."

In connection with the appointment Outcrop has granted Ms. Peterson 500,000 incentive stock

options exercisable at a price of

$0.24

expiring on

August 5, 2026

.

About Outcrop

Outcrop is fully financed and rapidly advancing exploration on five silver and gold exploration projects

with world-class discovery potential in Colombia. Outcrop is currently drilling the Santa Ana historic

high-grade silver district. These assets are being advanced by a highly disciplined and seasoned

professional team with decades of experience in Colombia.

ON BEHALF OF THE BOARD OF DIRECTORS

Joseph P Hebert, Chief Executive Officer

Mars Investor Relations

+1 775 340 0450

+1 647 557 6651

[email protected]

[email protected]

www.outcropsilverandgold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in

the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of

this release. Certain information contained herein constitutes "forward-looking information" under

Canadian securities legislation. Generally, forward-looking information can be identified by the use

of forward-looking terminology such as "potential", "we believe", or variations of such words and

phrases or statements that certain actions, events or results "will" occur. Forward-looking

statements are based on the opinions and estimates of management as of the date such

statements are made and they are subject to known and unknown risks, uncertainties and other

factors that may cause the actual results, level of activity, performance or achievements of Outcrop

to be materially different from those expressed or implied by such forward-looking statements or

forward-looking information, including: the receipt of all necessary regulatory approvals, capital

expenditures and other costs, financing and additional capital requirements, completion of due

diligence, general economic, market and business conditions, new legislation, uncertainties

resulting from potential delays or changes in plans, political uncertainties, and the state of the

securities markets generally. Although management of Outcrop have attempted to identify

important factors that could cause actual results to differ materially from those contained in

forward-looking statements or forward-looking information, there may be other factors that cause

results not to be as anticipated, estimated or intended. There can be no assurance that such

statements will prove to be accurate, as actual results and future events could differ materially

from those anticipated in such statements. Accordingly, readers should not place undue reliance

on forward-looking statements and forward-looking information. Outcrop will not update any

forward-looking statements or forward-looking information that are incorporated by reference

herein, except as required by applicable securities laws.

SOURCE

Outcrop Silver & Gold Corporation

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/August2021/16/c2534.html

%SEDAR: 00005232E

For further information:

Joseph P Hebert, Chief Executive Officer, +1 775 340 0450,

[email protected]; Mars Investor Relations, +1 647 557 6651,

[email protected]; www.outcropsilverandgold.com

CO: Outcrop Silver & Gold Corporation

CNW 08:00e 16-AUG-21