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Outcrop Silver Appoints New Board Member Ana Milena Vásquez

Management Changes

OUTCROP SILVER APPOINTS NEW BOARD

MEMBER ANA MILENA VÁSQUEZ

VANCOUVER, BC

,

Nov. 1, 2022

/CNW/ -

Outcrop Silver & Gold Corporation

(TSXV: OCG)

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

Outcrop

") is pleased to announce the appointment of Ms. Ana

Milena Vásquez to the Board of Directors.

Ms. Vásquez has 18 years of experience in the mining sector, including extensive Colombian

expertise in mining, project permitting, corporate social responsibility, sustainability, strategic

stakeholder engagement, government affairs and media management. Most recently, she held the

position of Executive VP of Collective Mining and Senior VP of External Affairs and Sustainability for

Continental Gold. Previously, she served as President of CB Gold, a company of which she was co-

founder and was also General Manager of Carbones Nueva Naricual in

Venezuela

and Carbones del

Cesar (

Mina La Francia

) in

Colombia

. Ms. Vásquez has a proven track record of advocating and

promoting women's opportunities, empowerment and equality from senior level positions in the

private sector. She is co-founder and Vice President of Women in Mining Colombia and one of the

100 Global Inspirational Women In Mining 2020.

Ms. Vásquez is a candidate for a Master's degree in Sustainability from

Harvard University

,

a Master's degree in Financial Analysis from the Carlos III University of

Madrid

, and a Bachelor's

degree in Finance and International Affairs from Externado University.

"We are delighted to have Ana join Outcrop Silver's Board. Ana brings a wealth of experience in

Colombia

, including mining, community and government affairs. Her deep knowledge and passion for

sustainability and corporate social responsibility align with Outcrop Silver's most critical priorities

while advancing our world-class Santa Ana high-grade silver deposit," commented

Ian Slater

,

Chairman. "Her guidance and vision in sustainability and stakeholder engagement will be crucial for

the Board to achieve our strategic goals and play a valuable role in ensuring that Outcrop Silver

continues to adopt the highest ESG standards while contributing to the government's energy

transition."

"I am extremely excited to join the Outcrop team as director," commented Ms. Vásquez. "Outcrop

considers ESG practices and sustainability to be fundamental to the way in which it operates, I hope

to contribute to further incorporate ESG criteria to Outcrop's strategic development while delivering

a new world-class silver deposit in

Colombia

. I look forward to working closely with this diverse and

talented team to ensure we deliver results beyond our objectives and create value to be shared with

all our stakeholders."

Outcrop Silver has granted 400,000 incentive stock options to Ms. Vásquez at an exercise price of

$0.26

expiring on

October 5, 2027

.

About Outcrop Silver & Gold

Outcrop Silver & Gold is rapidly advancing the Santa Ana high-grade silver district with ongoing

expansion drilling and an initial resource to be released in the coming months. Outcrop is also

progressing exploration on four gold projects with world-class discovery potential in

Colombia

. 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

Kathy Li

Chief Executive Officer

Director of Investor Relations

+1 775 340 0450

+1 778 783 2818

[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/November2022/01/c3644.html

%SEDAR: 00005232E

For further information:

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

[email protected], www.outcropsilverandgold.com; Kathy Li, Director of

Investor Relations, +1 778 783 2818, [email protected]

CO: Outcrop Silver & Gold Corporation

CNW 07:00e 01-NOV-22