Silver Tiger Announces Commencement of Underground Drilling ON High-Grade Vein, Sulfide and Shale Zones and Expects to Deliver a PEA FOR the Underground IN H1-2025
NEWS RELEASE
SILVER TIGER ANNOUNCES COMMENCEMENT OF UNDERGROUND
DRILLING ON HIGH-GRADE VEIN, SULFIDE AND SHALE ZONES AND
EXPECTS TO DELIVER A PEA FOR THE UNDERGROUND IN H1-2025
HALIFAX, NOV A SCOTIA – December 3, 2024 – Silver Tiger Metals Inc. (TSXV:SLVR and OTCQX:SLVTF)
("Silver Tiger" or the “Corporation”) is announcing the commencement of its underground drilling campaign targeting
the Veins, the Sulfide Zone and the Shale Zone on its 100% owned, silver-gold El Tigre Project (the "Project" or "El
Tigre") located in Sonora, Mexico.
Glenn Jessome, President & CEO stated “After the release of our robust PFS on the near-surface, low-capex open pit
portion of the El Tigre Project, our next goal will be to complete a PEA on the underground component of the project
in the first half of 2025. Our current underground drilling program is targeting the Veins, the Sulfide Zone and the
Shale Zone from our 400-meter-long rehabilitated haulage -way. The new drill holes will provide new assay,
geotechnical, metallurgical and geological information for the Mineral Resource blocks near the completed haulage-
way close to first development.”
Underground Dilling
The El Tigre Project underground drilling campaign is targeting the Ve ins, the Sulfide Zone and the Shale Zone
located as close as 40 meters to the pre -existing haulage way. These high-grade zones, especially the historically -
mined Veins with results up to 86.5 kilograms/tonne silver equivalent, form a crucial component of the UG PEA (see
Press Release dated November 9, 2021).
The drill rig and geological team are mobilized and drilling has begun in a 5,000 meter array. Role Drilling of
Hermosillo has been contracted for drilling HQ, oriented drill holes ranging in depth from 100-300 meters, offering
a significant cost savings over drilling from surface. Assays are expected before EOY 2024.
Figure 1 – Underground Drilling Operations in Progress at El Tigre Project
Underground Preliminary Economic Assessment
The Corporation will also continue to work on this substantial, permitted underground Mineral Resource Estimate
and advance this towards a Preliminary Economic Assessment by H1-2025.
Figure 2 – Proposed Underground Drilling Campaign
Exploration Potential
Exploration potential at the El Tigre Project is substantial with prospective areas for exploration both down dip and
along strike with the disclosed Exploration Target establishing 10 to 12 million tonnes at 225 to 265 g/t AgEq for 73
to 100 Moz AgEq.
Figure 3 —Exploration Potential released October 2024
Qualified Persons
David R. Duncan, P. Geo., V.P. Exploration of the Corporation, is the Qualified Person for Silver Tiger as defined
under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information
in this press release.
VRIFY Slide Deck and 3D Presentation – Silver Tiger’s El Tigre Project
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote
mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS
and Android apps.
Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at:
https://vrify.com/explore/decks/492 and on the Corporation’s website at: www.silvertigermetals.com.
About Silver Tiger and the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years’ experience discovering,
financing and building large epithermal silver projects in Mexico. Silver Tiger’s 100% owned 28,414 hectare Historic
El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are
core priorities at Silver Tiger.
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver
and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas
at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with
the Brown Shaft in 1903. The focus soon changed to mining high -grade silver veins in the area with production
coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the
middle El Tigre Vein extended 1,450 metres along strike and was mined on 14 levels to a depth of approximately 450
metres. The Seitz Kelley V ein was mined along strike for 1 kilometre to a depth of approximately 200 metres. The
Sooy Vein was only mined along strike for 250 met res to a depth of approximately 150 met res. Mining abruptly
stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great
Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gol d
and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period
was over 2 kilograms silver equivalent per ton.
For further information, please contact:
Glenn Jessome
President and CEO
902 492 0298
CAUTIONARY STATEMENT:
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 news release.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact
included in this release, including, without limitation, statements regarding potential mineralization, Mineral Resources and
Reserves, the ability to convert Inferred Mineral Resources to Indicated Mineral Resources, the ability to complete future
drilling programs and infill sampling, the ability to extend Mineral Resource blocks, the similarity of mineralization at El Tigre
to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking
statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such
as “may”, “is expected to”, “anticipates”, “estimates”, “intends”, “plans”, “projection”, “could”, “vision”, “goals”,
“objective” and “outlook” and other similar words. Although Silver Tiger believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from Silver Tiger’ s expectations include risks and uncertainties
related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of
operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with
securities regulators.