RSMX.V · 2023-04-24 12:00:00

Regency Silver intersects 29.4m of 6.32 g/t Au down-dip from discovery hole REG-22-01

Drill Results

Regency Silver intersects 29.4m of 6.32 g/t Au

down-dip from discovery hole REG-22-01

VANCOUVER, BC

April 24, 2023

/CNW/ -

Regency Silver Corp.

("Regency Silver" or the

"Company"), (TSXV: RSMX) (OTCQB: RSMXF) announces that 2 follow up holes down-dip from

hole REG-22-01 (

35.8

metres of

6.84

g/t gold,

0.88%

copper and

21.82

g/t silver) intersect wide

zones of gold and copper mineralization. REG-23-14 intersects

35.9m

of 5.51 g/t Au including

29.4m

of 6.32 g/t Au

~25m down-dip from REG-22-01. REG-23-15, which is ~

65m

down-dip from REG-

23-14 and ~90m down-dip from REG-22-01 intersects

128.35m

of 0.84 g/t Au including

57.95m

1.49 g/t Au and

32.5m

of 2.23 g/t Au

"In addition to the drill results, the IP survey has outlined a ~1,000m long by ~900m wide km wide

anomaly of highly chargeable rock. All indications are that we are drilling into a large system." stated

Bruce Bragagnolo

, Executive Chairman.

The ongoing follow up drill program began on

January 15

. Seven holes have been completed to

date totaling

4,250.85 m

of drilling. Six of the seven holes successfully intersect the target pyrite +/-

specularite +/- chalcopyrite supported breccia zone that hosts Au-Cu mineralization. The location of

the drill holes can be seen on the plan map in Figure 1. The eighth hole of the program, REG-23-20

is currently drilling and targeting ~50m down dip from REG-23-19 on the section line

50m

to the east

of holes REG-22-01 and REG-23-13-15. The drilling is being funded by the proceeds of our recently

completed

$2.5 million

private placement and the exercise of broker warrants (see NR dated

April

, 2023) and drilling is expected to continue at Dios Padre for the foreseeable future.

Highlights of the program so far include:

REG-23-14 intersects

35.9m

of 5.51 g/t Au including

29.4m

of 6.32 g/t Au

starting at

454.4m

downhole.

REG-23-14 intersects

95.5m

of 0.2% Cu including

7.05m

of 0.51% Cu from

314.9m

downhole

and

34.35m

of 0.42% Cu including

12.05m

of 0.98% Cu

from

454.4m

downhole.

REG-23-15 intersects

128.35m

of 0.84 g/t Au from 390.85 downhole including

57.95m

of 1.49

g/t Au and

32.5m

of 2.23 g/t Au

from

460.85m

downhole

REG-23-15 intersects

73.85m

of 0.11% Cu from

317m

downhole and

25.4m

of 0.43% Cu

including

16.25m

of 0.53% Cu

from

407.9m

downhole.

Six of the seven holes have successfully intersected the target pyrite +/- specularite +/-

chalcopyrite supported breccia zone that hosts the targeted Au-Cu mineralization.

Geophysical Induced-Polarity (IP) survey confirms robust anomaly connecting near surface

response from Dios Padre silver mine down-dip to current Au-Cu mineralization being targeted

in ongoing drill program, outlining a ~1000m long by ~900 m wide zone of strongly chargeable

rock.

Table

: Au results for holes REG-23-13, REG-23-14 and REG-23-15

Hole

From (m)

To (m)

Length (m)

Au (g/t)

REG-23-13

121.25

124.6

3.35

0.16

REG-23-13

455.55

473.7

18.15

0.24

inc.

462.65

473.05

10.4

0.35

REG-23-13

510.05

516.5

6.45

0.14

REG-23-13

531.2

539.5

8.3

0.62

inc.

532.5

538.45

5.95

0.81

REG-23-13

608.35

614.35

0.14

REG-23-14

165.45

184.7

19.25

0.19

REG-23-14

317.15

319.45

2.3

1.14

REG-23-14

327.2

350.7

23.5

0.12

REG-23-14

394.2

410.4

16.2

0.39

Inc.

401.6

410.4

8.8

0.66

REG-23-14

428.5

449.15

20.65

0.51

inc.

433

442.2

9.2

1.06

REG-23-14

454.4

490.3

35.9

5.51

inc.

454.4

483.8

29.4

6.32

REG-23-14

498.65

510.55

11.9

0.28

REG-23-14

527.8

541.5

13.7

0.1

REG-23-14

552.75

557.25

4.5

0.28

REG-23-15

338.3

352.2

13.9

0.1

REG-23-15

407.9

536.25

128.35

0.84

inc.

407.9

429.2

21.3

0.54

inc.

407.9

424.15

16.25

0.62

inc.

460.85

518.8

57.95

1.49

inc.

468.5

501

32.5

2.23

As the true, three-dimensional orientation of the mineralized zones are not yet fully known, true thickness of these intervals remains uncertain, however it is estimated that the

intervals are somewhere between 70-100% of true thickness since drilling is currently near perpendicular to the orientation of stratigraphy with mineralization appearing to

loosely follow stratigraphy at this stage of exploration.

Au composites are calculated using a 0.1 g/t Au cutoff, incorporating no more than 5 m downhole dilution. Higher-grade composite intervals are calculated using 0.3g/t, 1g/t, 3g/t,

and 5 g/t cutoffs incorporating no more than 5 m downhole dilution.

Table

: Cu results for holes REG-23-13, REG-23-14 and REG-23-15

Hole

From (m)

To (m)

Length (m)

Cu (%)

REG-23-13

458.9

466.8

7.9

0.11

REG-23-13

536.05

542.1

6.05

0.13

REG-23-14

314.9

410.4

95.5

0.2

inc

403.35

410.4

7.05

0.51

REG-23-14

440.95

475.3

34.35

0.42

inc

454.4

475.3

20.9

0.62

inc

454.4

466.45

12.05

0.98

REG-23-15

317

390.85

73.85

0.11

inc.

340.85

352.2

11.35

0.2

REG-23-15

403.8

429.2

25.4

0.43

inc.

407.9

428.45

20.55

0.47

inc.

407.9

424.15

16.25

0.53

REG-23-15

436.95

460.85

23.9

0.19

inc.

436.95

444.6

7.65

0.3

inc.

450.8

454.6

3.8

0.24

As the true, three-dimensional orientation of the mineralized zones are not yet fully known, true thickness of these intervals remains uncertain, however it is estimated that the

intervals are somewhere between 70-100% of true thickness since drilling is currently near perpendicular to the orientation of stratigraphy with mineralization appearing to

loosely follow stratigraphy at this stage of exploration.

Cu composites are calculated using a 0.1 % Cu cutoff, incorporating no more than 5 m downhole dilution. Higher-grade composite intervals are calculated using 0.25%, 0.5%,

0.75% cutoffs incorporating no more than 5 m downhole dilution.

Table 3:

Ag results for holes REG-23-13, REG-23-14 and REG-23-15

Hole

From (m)

To (m)

Length (m)

Ag (g/t)

REG-23-14

299.4

306.6

7.2

9.74

REG-23-14

336.45

346.45

5.13

REG-23-14

454.4

469.5

15.1

19.2

REG-23-15

279.85

284.35

4.5

6.17

REG-23-15

317

325.7

8.7

8.28

REG-23-15

338.3

352.2

13.9

10.06

REG-23-15

407.9

424.15

16.25

8.77

REG-23-15

451.5

454.6

3.1

19.41

As the true, three-dimensional orientation of the mineralized zones are not yet fully known, true thickness of these intervals remains uncertain, however it is estimated that the

intervals are somewhere between 70-100% of true thickness since drilling is currently near perpendicular to the orientation of stratigraphy with mineralization appearing to

loosely follow stratigraphy at this stage of exploration.

Ag composites are calculated using a 10g/t cutoff, incorporating no more than 5 m downhole dilution. Higher-grade composite intervals are calculated using 25g/t and 50 g/t

cutoffs incorporating no more than 5 m downhole dilution.

Table

: Collar table containing the location and orientations of completed holes. Holes contained in this

news release are in bold

Hold ID

Easting

Northing

Elevation

Hole Depth

Azimuth

Dip

REG-22-01

3150962

690443

1294

500.5

178.2

-60

REG-23-13

3150907

690448

1300

670.05

180

-59.5

REG-23-14

3151017

690450

1294

686.4

179.5

-60.2

REG-23-15

3151017

690450

1294

617.5

179.6

-66.5

REG-23-16

3150995

690398

1284

551.4

180

-65

REG-23-17

3150995

690398

1284

575.4

178

-58.2

REG-23-18

3150995

690398

1284

550.9

178

-70.6

REG-23-19

3150994

690500

1299

599.2

178

-62

Discussion of results:

Figure 1 shows the plan map and drill traces for the drill holes completed to date. Holes REG-23-

13, REG-23-14 and REG-23-15 are drilled on the same section line as REG-22-01. Holes REG-23-

16, REG-23-17 and REG-23-18 are drilled on a section line

50m

to the west whereas hole REG-23-

19, and the ongoing REG-23-20 as well as one or two subsequent holes are drilled on a section line

50m

to the east. Figure 2 illustrates the complete section results, the section shows ~156m of

testing between holes REG-23-13 and REG-23-15. As expected, REG-23-14 has similar results to

REG-23-01 as it is the closest hole. The step down-dip to REG-23-15 shows the mineralized zone

becoming wider, but not as concentrated as up-dip holes. REG-23-13 intersects a weak expression

of Au-Cu mineralization up-dip from REG-22-01, but it did not intersect any breccia, nor the quartz-

feldspar porphyry (QFP) which seems to follow the orientation of the underlying mineralized breccia.

This likely indicates that it was off the edge of the breccia zone.

Notable observations from the current drilling/results:

While Au and Cu mineralization are coincident in REG-22-02, this does not appear to be the

case in other holes. Au and Cu appear to be detached. This implies that mineralization occurs in

multiple, mutually overprinting events which is a common feature of many porphyry related

systems.

Mineralization still appears to be dipping to the north however, there appears to also be a dip to

the east as holes to the west intersect the breccia shallower whereas holes to the east

intersect the breccia deeper – this same orientation is observed in the QFP.

Specularite-alunite appears to be the most distal alteration associated with the mineralizing

system. It has become an important vector towards additional mineralization.

Gold mineralization appears to be more intimately associated with pyrite abundance than

specularite abundance.

Discussion of geophysical results:

From January-

March 2023

a 3D Induced Polarity (IP) survey was conducted over the Dios Padre

property by Dias Geophysical. The goal of this survey was to fingerprint the geophysical signature of

the mineralized zone from REG-22-01 in order to develop a vectoring tool for additional

mineralization of similar style. Figure 3 illustrates the filtered, high chargeability zones in both plan

and oblique views. The survey was successful in being able to connect the chargeable zones in and

around the drill areas all the way up dip (~500m) to the old mine workings, supporting the hypothesis

that the mineralization in REG-22-01 represents a down-dip Au-Cu rich extension below the Dios

Padre silver mine. Additionally, it outlines a ~900m wide by

1000m

long zone of strongly chargeable

rock. The sheer size of the anomaly is evidence of the scale of alteration/mineralization in the Dios

Padre area. Additional zones of similar mineralization to what has been drilled have the potential to

be found throughout.

The best results from drilling appear to occur in the deepest portion of the chargeability high. Should

this pattern continue, it will provide us with an additional vector to incorporate into further drill

targeting. Work is ongoing to further incorporate and refine the geophysical inversions with the

results from the drilling in order to provide more detailed modelling to help with drill targeting.

"The program at Dios Padre is shaping up in line with our elevated expectations. Intersecting

extensions of the same zone in six of seven holes so far is allowing us to refine our model. The

system is clearly multi-stage with localized zones of high-grade Au-Cu mineralization. With more data

and the integration of the geophysics we will be able to refine our targeting and vector in on the

highest-grade portions of what is shaping up to be an extensive breccia system." –

Michael Tucker

–

Director and Lead Geologist.

QA/QC

Once the drill core was received from the drill site, individual samples were determined, logged for

geological attributes, sawn in half, labelled, and bagged for assay submittal. The remaining drill core

was then stored at a secure site in the buildings surrounding the old milling site for the Dios Padre

silver mine. The Company inserted quality control samples at regular intervals within the sample

stream which included blanks, preparation duplicates, and standard reference materials with all

sample shipments intended to monitor laboratory performance. Sample shipment was conducted

under a chain of custody procedure.

Drill core samples are submitted to ALS Global's analytical facility in

Hermosillo, Mexico

for

preparation and analysis. Sample preparation included drying and weighing the samples, crushing

the entire sample, and pulverizing 250 grams ("g"). Analysis for gold was by method Au-AA23: 30g

fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and upper limit

of 10 ppm. Gold assays greater than 10ppm are automatically analyzed by method Au-GRA21: 30g

fire assay fusion with a gravimetric fusion. Analysis for silver and base metals was by method ME-

ICP61m: 0.75 g is dissolved via four acid digest and analyzed with ICP-AES finish. Detection limits

for Ag are 0.5-100ppm, 1-10 000ppm for Cu, 2-10 000ppm for Zn and 2-10 000ppm for Pb. Silver

assays greater than 100ppm are automatically analyzed by method Ag-OG62: 0.4g sample by Ag

by HF-HNO3-HClO4 digestion with HCl leach, ICP-AES or AAS finish. Samples with Ag>1500ppm

are automatically analyzed by Ag-GRA21: 30g sample Ag by fire assay and gravimetric finish. Cu,

Pb and Zn >10 000ppm are automatically analyzed by Cu-OG62, Pb-OG62 and Zn-OG62

respectively: 0.4g sample by Four acid digestion and ICP finish.

ALS Global is ISO 9001 and ISO/IEC 17025 certified and all analytical methods include quality

control materials at set frequencies with established data acceptance criteria. Parameters for ALS'

internal and Regency Silver's external blind quality control samples were acceptable for the analyses

returned.

Technical Information

The technical information contained in this news release has been reviewed by Company director

Michael Tucker, P.Geo, who is recognized as a Qualified Person under the guidelines of National

Instrument 43-101. Mr. Tucker is a director of the Company and for that reason is not considered

independent. Mr. Tucker has read and approved the technical contents of this news release.

ABOUT REGENCY SILVER CORP.

Regency Silver is a gold-copper-silver exploration company focused on the Americas. Regency

Silver is led by a team of experienced professionals with expertise in both exploration and

production. Regency Silver's flagship project is the Dios Padre gold-copper-silver project in

Sonora,

Mexico

Neither the 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.

Cautionary Note Regarding Forward-Looking Statements

: This news release includes certain

forward-looking statements and forward-looking information (together, "forward-looking

statements"). All statements other than statements of historical fact included in this release,

including, without limitation, statements regarding the optioning of the Project by the Company.

There can be no assurance that such statements will prove to be accurate and actual results and

future events may vary from those anticipated in such statements. Important risk factors that could

cause actual results to differ materially from the Company's plans or expectations include the risk

that regulatory changes, fundraising, and risk associated with mineral exploration, including the

risk that actual results of exploration will be different from those expected by management. The

forward-looking statements in this news release were developed based on the expectations of

management, including that Exchange acceptance for the proposed transaction will be obtained,

conditions will be satisfied, required fundraising will be completed and the other risks described

above will not materialize. The Company expressly disclaims any intention or obligation to update

or revise any forward-looking statements whether as a result of new information, future events or

otherwise, except as otherwise required by applicable securities legislation.

Figure 1: Plan map showing the location and drill traces of all holes completed to date. (CNW

Group/Regency Silver Corp)

Figure 2: Cross section with holes REG-23-13, REG-23-14 and REG-23-15. (CNW Group/Regency

Silver Corp)

Figure 3: Plan map and oblique section showing the location of the > 30 mv/v chargeability anomaly

centered around current drilling. (CNW Group/Regency Silver Corp)

SOURCE

Regency Silver Corp

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/April2023/24/c4733.html

%SEDAR: 00052267E

For further information:

Regency Silver Corp., Bruce Bragagnolo, Executive Chairman, (604) 417-

9517, Email: [email protected]; Gijsbert Groenewegen, Chief Executive Officer, Phone: 1-

646-247-1000, Email: [email protected]

CO: Regency Silver Corp

CNW 09:42e 24-APR-23

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