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Outcrop Silver Appoints Robert Scott as Chief Financial Officer

Management Changes

OUTCROP SILVER APPOINTS ROBERT

SCOTT AS CHIEF FINANCIAL OFFICER

VANCOUVER, BC

,

Nov. 1, 2024

/CNW/ -

Outcrop Silver & Gold Corporation

(TSXV: OCG)

(OTCQX: OCGSF) (DE: MRG)

("Outcrop Silver")

is pleased to announce the appointment of

Robert Scott

to the position of Chief Financial Officer effective

November 1, 2024

. Mr. Scott brings

over 25 years of professional expertise in accounting, corporate finance, compliance, and banking. A

CPA, CA, and CFA Charter holder, Mr. Scott has spent the last 18 years as a senior officer and

director of mineral exploration and development companies.

Throughout his career, Mr. Scott has helped raise more than

$200 million

in equity financing and

developed extensive experience in IPOs, reverse takeovers, mergers and acquisitions, and

corporate restructuring. His proven track record of cost-effective management makes him a valuable

addition to Outcrop Silver's leadership team. Some of Mr. Scott's past and current executive and

board positions with TSX-V issuers, include Great Bear Resources Ltd, ValOre Metals Corp.,

Riverside Resources Inc., Capitan Silver Corp., and First Helium Inc.

"Rob's diverse background in corporate finance and capital markets aligns perfectly with Outcrop

Silver's strategic goals as we advance the Santa Ana project," comments

Ian Harris

, Chief Executive

Officer. "His leadership will strengthen our financial foundation and help position Outcrop Silver for

future growth and value creation. On behalf of the Board, I would also like to thank Mr. Sharma for

his dedication and contributions as CFO and wish him all the best in his future endeavors."

Outcrop Silver has granted 500,000 incentive stock options to Mr. Scott at an exercise price of

$0.27

expiring on

October 31, 2029

.

About Outcrop Silver

Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-

grade silver project in

Colombia

. Leveraging a disciplined and seasoned team of professionals with

decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral

resources through strategic exploration initiatives.

At the core of our operations is a commitment to responsible mining practices and community

engagement, underscoring our approach to sustainable development. Our expertise in navigating

complex geological and market conditions enables us to consistently identify and capitalize on

opportunities to enhance shareholder value. With a deep understanding of the Colombian mining

landscape and a track record of successful exploration, Outcrop Silver is poised to transform the

Santa Ana project into a significant silver producer, contributing positively to the local economy and

setting new standards in the mining industry.

ON BEHALF OF THE BOARD OF DIRECTORS

Ian Harris

Chief Executive Officer

www.outcropsilver.com

Kathy Li

Vice President of Investor Relations

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.

SOURCE

Outcrop Silver & Gold Corporation

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/November2024/01/c1500.html

%SEDAR: 00005232E

For further information:

Ian Harris, Chief Executive Officer, +1 604 638 2545,

[email protected]; Kathy Li, Vice President of Investor Relations, +1 778 783 2818,

[email protected]

CO: Outcrop Silver & Gold Corporation

CNW 07:30e 01-NOV-24