Silver Tiger Discovers New Wide High Grade Sulphide Zone Intersecting 6.0 Meters of 2,025.5 G/T Silver Equivalent Within 44.4 Meters of 720.5 G/T Silver Equivalent

NEWS RELEASE

SILVER TIGER DISCOVERS NEW WIDE HIGH GRADE SULPHIDE ZONE

INTERSECTING 6.0 METERS OF 2,025.5 g/t SILVER EQUIVALENT

WITHIN 44.4 METERS OF 720.5 g/t SILVER EQUIVALENT

HALIFAX, NOVA SCOTIA – January 25, 2023 – Silver Tiger Metals Inc. (TSXV:SLVR and

OTCQX:SLVTF) ("Silver Tiger" or the “Corporation”) has intersected 2,025.5 g/t total silver equivalent

over 6.0 meters in the Sulphide Zon e in Drill Hole ET -22-433 from 364.5 meters to 370.5 meters,

consisting of 1,354.4 g/t silver, 0. 20 g/t gold, 1.57% copper, 6.10% lead and 10.86% zinc within 44.4

meters grading 720.5 g/t total silver equivalent from 330.5 meters to 374.9 meters consisting of 508.2

g/t silver, 0.16 g/t gold, 0.55% copper, 1.76% lead and 3.17% zinc in the newly discovered Sulphide Zone.

Highlights from the on-going drilling program include the following:

● Hole ET-22-432: 8.2 meters grading 1,446.2 g/t total silver equivalent from 372.4 meters to

380.6 meters, consisting of 956.6 g/t silver, 0.13 g/t gold, 1.69% copper, 3.58% lead and 7.01%

zinc within 34.8 meters grading 407.4 g/t total silver equivalent from 348.4 meters to 383.2

meters consisting of 257.4 g/t silver, 0.13 g/t gold, 0.47% copper, 1.18% lead and 2.02% zinc in

the Sulphide Zone.

● Hole ET-22-434: 10.5 meters grading 1,642.4 g/t total silver equivalent from 370.1 meters to

380.6 meters, consisting of 914.0 g/t silver, 0.20 g/t gold, 1.68% copper, 5.92% lead and 12.42%

zinc within 19.9 meters grading 1,072.9 g/t total silver equivalent from 361.7 meters to 381.6

meters consisting of 605.6 g/t silver, 0.22 g/t gold, 1.13% copper, 4.04% lead and 7.43% zinc in

the Sulphide Zone.

● Hole ET-22-438: 3.7 meters grading 1,035.8 g/t total silver equivalent from 394.8 meters to

398.5 meters, consisting of 879.4 g/t silver, 0.24 g/t gold, 0.76% copper, 0.86% lead and 1.36%

zinc within 19.5 meters grading 527.5 g/t total silver equivalent from 393.5 meters to 413.0

meters consisting of 408.4 g/t silver, 0.27 g/t gold, 0.53% copper, 0.88% lead and 0. 83% zinc in

the Sulphide Zone.

Silver Tiger’s CEO, Glenn Jessome, stated, “The discovery of this high grade sulphide zone is the fourth

type of mineralization found at El Tigre. The first holes through this wide high grade sulphide zone have

delineated a strike length of in excess of 150 meters open to the north and south, with widths approaching

35 meters. The Historic El Tigre Mine relied only on high grade silver quartz veins. We have now

discovered the stockwork, the shale zone and now this sulphide zone. All four types of mineralization will

be very important to the future of El Tigre.” Mr. Jessome further stated: “Our ongoing underground

development will place us in the Sooy Vein directly above this sulphide zone as we transition to

underground drilling to follow it north and south.”

Additional drill results for Sooy Vein, Hanging Wall Gold Zone and the Sulphide Zone are presented in the

Drill Hole Results table below along with the details for the calculation of the silver equivalent grades.

Attached as illustrations are the Sulphide Zone Plan, El Tigre – Four Types of Mineralization, El Tigre

Long Section, Cross Section 4875N and El Tigre Cross Section 4865N.

Drill Hole Results Table

Hole ID

Comment

From

To

Length(1)

Gold

Silver

Copper

Lead

Zinc

AgEq

Total (2)

m M m g/t g/t % % % g/t

ET-22-432 HW Gold

Zone

4.6 14.0 9.4 0.10 39.0 0.01 0.02 0.02 48.5

Sooy Vein

Zone

191.2 201.6 10.4 0.16 399.0 0.43 2.84 5.16 690.6

including 195.6 197.7 2.1 0.24 1,153.6 1.29 9.76 16.82 2,084.8

Sulphide

Zone

348.4 383.2 34.8 0.13 257.4 0.47 1.18 2.02 407.4

including 372.4 380.6 8.2 0.13 956.6 1.69 3.58 7.01 1,446.2

including 378.5 380.6 2.1 0.17 1,663.5 4.32 6.28 11.50 2,622.5

ET-22-433 HW Gold

Zone

0.0 14.2 14.2 0.10 56.9 0.01 0.04 0.01 66.8

Sooy Vein

Zone

190.9 201.9 11.0 0.29 165.4 0.16 1.43 4.42 382.5

including 193.6 198.4 4.8 0.41 369.9 0.35 3.19 9.96 840.2

including 194.7 195.8 1.1 0.12 634.5 0.57 4.68 18.48 1,422.5

Sulphide Zone 330.5 374.9 44.4 0.16 508.2 0.55 1.76 3.17 720.5

including 332.9 337.9 5.0 0.17 1,431.8 1.41 2.47 6.27 1,846.8

including 335.5 336.1 0.6 0.18 3,225.0 4.19 5.34 15.59 4,285.5

including 364.5 370.5 6.0 0.20 1,354.4 1.57 6.10 10.86 2,025.5

including 366.8 367.8 1.0 0.19 2,371.5 3.07 10.00 17.81 3,508.8

ET-22-434 HW Gold

Zone

6.5 15.0 8.5 0.39 96.7 0.01 0.08 0.01 129.8

including 10.1 11.6 1.5 2.04 336.0 0.02 0.17 0.04 496.6

Sooy Vein

Zone

184.6 197.6 13.0 0.16 172.5 0.36 2.08 2.56 354.0

including 190.6 195.8 5.2 0.19 326.4 0.84 4.89 5.97 734.8

including 192.3 194.4 2.1 0.24 496.1 1.76 7.17 8.62 1,139.2

Sulphide Zone 306.7 313.3 6.6 0.11 376.8 0.32 0.14 0.09 421.9

including 311.3 313.3 2.0 0.20 1,116.5 0.89 0.20 0.11 1,225.9

including 312.3 313.3 1.0 0.25 1,859.0 1.44 0.33 0.19 2,030.4

Sulphide Zone 361.7 381.6 19.9 0.22 605.6 1.13 4.04 7.43 1,072.9

including 370.1 380.6 10.5 0.20 914.0 1.68 5.92 12.42 1,642.4

ET-22-435 HW Gold

Zone

6.9 15.0 8.1 0.38 89.2 0.01 0.08 0.01 120.9

including 6.9 11.0 4.1 0.70 134.3 0.01 0.04 0.01 189.1

Sooy Vein

Zone

187.7 204.8 17.1 0.06 22.9 0.02 0.08 0.16 36.8

including 189.1 189.8 0.7 0.17 89.3 0.07 0.40 1.34 163.0

Sulphide Zone 373.1 375.5 2.4 0.41 117.0 0.30 2.20 3.51 344.9

including 374.9 375.5 0.6 0.44 200.0 0.86 6.28 11.13 833.9

ET-22-436 HW Gold

Zone

0.0 33.2 33.2 0.10 36.3 0.00 0.01 0.01 44.6

including 25.3 31.7 6.4 0.03 52.4 0.01 0.02 0.03 57.5

Sooy Vein

Zone

210.3 216.4 6.1 0.10 416.8 0.39 1.31 2.62 580.1

including 213.9 215.9 2.0 0.11 935.0 0.76 2.55 5.77 1,267.8

including 214.4 215.4 1.0 0.12 1,365.5 1.00 3.25 8.08 1,815.7

Sulphide Zone 387.8 394.7 6.9 0.06 765.3 0.73 2.97 6.51 1,125.8

including 389.8 391.6 1.8 0.12 1,634.6 1.61 7.14 15.39 2,478.3

ET-22-437 HW Gold

Zone

0.0 32.3 32.3 0.07 21.8 0.00 0.01 0.01 28.1

including 23.9 32.3 8.4 0.10 40.7 0.01 0.02 0.04 50.4

Sooy Vein

Zone

258.7 263.4 4.7 0.05 357.9 0.22 0.44 0.30 403.4

including 260.2 260.9 0.7 0.24 2,048.0 1.29 2.70 1.66 2,309.2

Sulphide Zone 358.0 367.7 9.7 0.08 354.4 0.39 0.91 0.70 442.2

including 359.0 360.2 1.2 0.19 1,345.0 1.57 2.10 0.83 1,587.4

ET-22-438 HW Gold

Zone

9.2 52.7 43.5 0.16 18.7 0.00 0.01 0.01 31.3

including 29.0 29.6 0.6 2.26 566.0 0.02 0.02 0.02 739.5

Sooy Vein

Zone

321.3 324.5 3.2 0.52 300.5 0.18 0.73 0.33 384.8

including 322.1 323.0 0.9 1.51 773.0 0.48 2.08 0.77 1,006.7

Sulphide Zone 393.5 413.0 19.5 0.27 408.4 0.53 0.88 0.83 527.5

including 394.8 398.5 3.7 0.24 879.4 0.76 0.86 1.36 1,035.8

including 396.0 396.5 0.5 0.62 2,796.0 1.75 1.85 4.16 3,193.1

including 403.8 411.8 8.0 0.51 564.3 0.90 1.68 1.31 771.9

including 406.3 407.0 0.7 1.47 1,148.0 1.40 1.52 0.71 1,452.3

Notes: 1. Not true width.

2. Silver Equivalent (“EqAg”) ratios are based on a silver to gold price ratio of 75:1 (Au:Ag). Copper, lead and zinc

are converted using $3.66/lb copper, $0.90/lb lead, $1.26/lb zinc at 100% metal recoveries based on a silver price

of$26.00/oz.

Sulphide Zone Plan

El Tigre – Four Types of Mineralization

El Tigre Long Section

Drill Hole Location Table

Hole ID Easting Northing Elevation Az Dip Length

ET-22-432 670863 3384930 1852 100 -82 509.4

ET-22-433 670864 3384931 1852 90 -82 497.2

ET-22-434 670863 3384930 1852 80 -82 469.7

ET-22-435 670863 3384930 1852 70 -81 524.6

ET-22-436 670856 3384898 1869 79 -83 494.1

ET-22-437 670857 3384898 1869 89 -83 485.0

ET-22-438 670848 3384866 1886 107 -83 433.1

Drill Holes Previously Released from the Sulphide Zone on September 13, 2022 and on October 25,

2022:

Drill Hole Results Table

Hole ID

Comment

From

To

Length(1)

Gold

Silver

Copper

Lead

Zinc

AgEq

Total (2)

m M m g/t g/t % % % g/t

ET-22-395 El Tigre

Vein Zone

359.6 363.3 3.7 0.13 733.4 0.78 0.60 1.51 882.0

including 362.3 363.3 1.0 0.26 1,844.0 2.32 1.60 5.27 2,299.5

El Tigre

Vein Zone

376.2 384.9 8.7 0.19 373.0 0.56 1.72 3.45 596.4

including 382.3 383.9 1.6 0.24 1,397.5 1.85 6.06 16.13 2,271.8

El Tigre

Vein Zone

394.8 402.9 8.1 0.17 554.2 0.92 2.48 3.63 834.5

including 397.7 399.7 2.0 0.20 1,270.3 1.66 2.85 4.26 1,653.8

ET-22-417 El Tigre

Vein Zone

303.1 304.2 1.1 0.14 965.4 1.20 0.74 2.38 1,188.4

including 303.7 304.2 0.5 0.27 2,010.0 2.51 1.53 4.97 2,473.2

ET-22-422 El Tigre

Vein Zone

469.7 470.9 1.2 1.26 0.7 0.00 0.00 0.00 96.0

including 474.4 476.1 1.7 0.09 14.3 0.06 0.51 0.07 41.1

ET-22-427 Sooy Vein 55.5 57.5 2.0 1.04 1,768.4 0.38 0.71 0.13 1,904.6

including 56.4 57.5 1.1 1.79 3,096.0 0.68 1.25 0.22 3,331.9

El Tigre

Vein Zone

398.3 405.2 6.9 0.13 85.1 0.07 0.67 1.34 162.1

including 401.9 403.0 1.1 0.33 255.0 0.23 2.59 5.06 531.0

ET-22-428 Sooy Vein 46.9 51.0 4.1 0.99 1,374.0 0.17 0.34 0.33 1,483.0

including 48.8 49.4 0.6 2.47 3,097.0 0.32 0.97 0.81 3,362.6

Sooy

Footwall

Vein

102.2 105.6 3.4 0.46 551.8 0.07 0.10 0.16 600.6

including 138.9 139.4 0.5 2.47 3,088.0 0.38 3.04 1.57 3,434.1

El Tigre

Vein Zone

309.3 318.4 9.1 0.26 31.4 0.03 0.04 0.05 56.4

including 352.0 352.5 0.5 0.50 807.0 1.83 1.00 2.44 1,125.4

ET-22-429 Sooy Vein

Zone

63.0

63.5

0.5

1.46

1,320.0

0.32

0.16

0.07

1,465.9

El Tigre

Vein

247.8

253.2

5.4

0.06

219.6

0.18

0.24

0.17

252.9

including

249.9

251.0

1.1

0.07

707.0

0.39

0.37

0.40

771.9

El Tigre

Vein

265.2

275.9

10.7

0.04

120.2

0.17

0.30

0.22

154.6

including

274.3

275.4

1.1

0.04

549.7

0.74

1.02

0.90

677.9

ET-22-430 HW Gold

Zone

81.0

101.5

20.5

0.08

41.7

0.01

0.02

0.05

50.2

including

93.0

94.6

1.6

0.23

390.1

0.06

0.11

0.32

426.5

Sooy Vein

Zone

117.5

119.1

1.6

0.28

528.1

0.12

0.14

0.27

573.5

255.0

255.5

0.5

0.14

991.0

0.49

1.29

5.57

1,264.4

El Tigre

Vein

269.1

275.0

5.9

0.10

677.6

0.46

0.38

0.11

742.1

including

272.7

273.7

1.0

0.37

2,754.0

1.50

0.68

0.21

2,948.7

and

297.0

298.0

1.0

0.11

1,346.0

1.02

0.45

0.35

1,474.6

including

297.5

298.0

0.5

0.20

2,797.0

2.09

0.90

0.73

3,058.7

ET-22-431 HW Gold

Zone

10.1

46.5

36.4

0.13

41.9

0.00

0.01

0.01

52.6

including

10.1

11.6

1.5

0.11

731.0

0.00

0.05

0.00

740.9

Sooy Vein

Zone

83.9

86.7

2.8

0.59

137.4

0.03

0.19

0.24

196.5

339.5

342.6

3.1

0.06

211.5

0.08

0.02

0.03

225.2

El Tigre

Vein

409.1

418.5

9.4

0.19

641.3

0.65

3.32

6.51

1,013.3

including

413.5

415.6

2.1

0.19

1,536.1

1.62

7.71

13.66

2,341.9

1. Not true width.

2. Silver Equivalent (“EqAg”) ratios are based on a silver to gold price ratio of 75:1 (Au:Ag). Copper, lead and zinc

are converted using $3.66/lb copper, $0.90/lb lead, $1.26/lb zinc at 100% metal recoveries based on a silver price

of

$26.00/oz.

.