Silver Tiger Intersects 1,719.7 G/T Ageq over 0.8 Meters IN the Shale Zone at the Benjamin Vein Within 6.9 Meters Grading 523.8 G/T Ageq
NEWS RELEASE
SILVER TIGER INTERSECTS 1,719.7 g/t AgEq OVER 0.8 METERS IN THE
SHALE ZONE AT THE BENJAMIN VEIN WITHIN 6.9 METERS GRADING 523.8 g/t AgEq
HALIFAX, NOVA SCOTIA – November 14, 2022 – Silver Tiger Metals Inc. (TSXV:SLVR and
OTCQX:SLVTF) ("Silver Tiger" or the “Corporation”) has intersected 1,719.7 g/t total silver equivalent
over 0.8 meters in the Shale Zone at the Benjamin Vein in Drill Hole ET-22-378 from 130.4 meters to
131.2 meters, consisting of 940.0 g/t silver, 0.28 g/t gold, 0.60% copper, 6.94% lead and 16.20% zinc
within 6.9 meters grading 523.8 g/t total silver equivalent from 125.8 meters to 132.7 meters consisting
of 212.4 g/t silver, 0.15 g/t gold, 0.12 % copper, 2.50% lead and 6.94% zinc.
Other highlights from the on-going drilling program include the following:
● Hole ET-22-378: 1.0 meters grading 1,095.8 g/t total silver equivalent in the Benjamin Vein
from 89.9 meters to 90.9 meters, consisting of 1,002.0 g/t silver, 0.25 g/t gold, 0.39% copper, 0.60%
lead and 0.69% zinc within 6.5 meters grading 524.9 g/t total silver equivalent from 89.9 meters
to 96.4 meters consisting of 469.4 g/t silver, 0.12 g/t gold, 0.16% copper, 0.50% lead and 0.58%
zinc.
Additional drill results for the Benjamin Vein are presented in the Drill Hole Results table below along with
the details for the calculation of the silver equivalent grades.
Attached is Benjamin Cross Section 6175N detailing Drill Hole ET-22-378. Also attached is a Plan Map
of the Benjamin, El Tigre, Sooy and Seitz Kelly Veins and Drill Holes.
Silver Tiger’s CEO, Glenn Jessome, stated, “More high-grade drill results in the Benjamin Vein over 2 kms
along strike north of the Historic El Tigre Mine. Also of note are the wide high-grade intercepts in the
Shale Horizon in these drill holes.”
Underground Rehabilitation at Historic El Tigre Mine Update
As previously announced Silver Tiger has contracted Cominvi, a Mexican underground contract mining
and development company to rehabilitate the Historic El Tigre Mine. Cominvi are progressing well in the
underground rehabilitation of the Historic El Tigre M ine and have already completed over 450 meters of
rehabilitation in Level 7, which was the main portal to the mine. Silver Tiger is still on schedule to reach
the Sooy Vein and then begin underground drilling of this new discovery under the Northern end of the
unmined portion of the Historic El Tigre Mine.
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-21-290 Benjamin
Vein
158.0 158.6 0.6 0.05 115.0 0.05 0.14 0.42 141.0
and 304.3 305.0 0.7 0.25 261.0 0.09 0.84 1.45 356.7
ET-22-328 Benjamin
Vein Zone
43.7 67.0 23.3 0.09 63.1 0.01 0.10 0.05 74.4
including 50.8 51.7 0.9 0.50 229.0 0.04 0.65 0.08 288.2
ET-22-378 Benjamin
Vein
89.9 96.4 6.5 0.12 469.4 0.16 0.50 0.58 524.9
including 89.9 90.9 1.0 0.25 1,002.0 0.39 0.60 0.69 1,095.8
Shale Zone 125.8 132.7 6.9 0.15 212.4 0.12 2.50 6.94 523.8
including 130.4 131.2 0.8 0.28 940.0 0.60 6.94 16.20 1,719.7
ET-22-382 Benjamin
Vein
126.6 129.5 2.9 0.14 113.6 0.03 0.21 0.46 147.3
including 128.6 129.5 0.9 0.22 341.0 0.09 0.59 1.24 420.8
ET-22-386 Benjamin
Vein Zone
116.4 132.1 15.7 0.17 62.6 0.02 0.51 0.98 122.4
including 128.8 129.8 1.0 0.43 252.0 0.07 2.63 6.07 554.5
ET-22-388 Benjamin
Vein Zone
4.9 7.0 2.1 0.33 136.7 0.00 0.01 0.00 162.0
including 5.8 7.0 1.2 0.56 215.0 0.01 0.02 0.01 258.0
ET-22-390 Benjamin
Vein Zone
104.8 116.3 11.5 0.06 57.0 0.04 0.20 0.33 81.2
including 115.4 116.3 0.9 0.07 254.0 0.31 0.88 2.26 385.7
ET-22-394 3.0 5.8 2.8 0.01 165.5 0.00 0.03 0.00 167.3
Benjamin
Vein Zone
88.5 109.0 20.5 0.06 58.0 0.04 0.36 0.60 94.8
including 98.7 101.8 3.1 0.09 180.8 0.17 0.36 0.45 226.7
Benjamin
Vein Zone
147.7 155.1 7.4 0.15 49.4 0.03 0.29 0.17 75.8
including 153.2 153.8 0.6 0.04 279.0 0.23 1.77 0.57 365.0
ET-22-396 Benjamin
Vein
94.9 100.8 5.9 0.15 46.6 0.01 0.83 1.75 136.7
including 96.2 96.9 0.7 0.28 83.8 0.02 3.10 5.99 378.3
and 126.7 127.7 1.0 0.03 527.0 0.12 0.02 0.06 542.4
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.
Drill Hole Location Table
Hole ID Easting Northing Elevation Az Dip Length
ET-21-290 670372 3386195 1959 90 -67 324.3
ET-22-328 670777 3385150 1815 90 -40 91.5
ET-22-378 670441 3386184 1981 182 -85 221.1
ET-22-382 670441 3386183 1981 205 -85 207.4
ET-22-386 670441 3386186 1981 348 -83 170.8
ET-22-388 670442 3386186 1981 24 -83 204.4
ET-22-390 670442 3386186 1981 5 -83 210.5
ET-22-394 670441 3386080 1932 31 -74 193.7
ET-22-396 670442 3386080 1932 52 -68 207.4
El Tigre Cross Section 6175N (Drill Hole ET-22-378)
Plan Map of the El Tigre, Sooy and Seitz Kelly Veins and Drill Holes
Omnibus Incentive Plan
At the annual meeting of the Corporation’s shareholders held on September 29, 2022, the Corporation
obtained disinterested shareholder approval for its amended omnibus incentive plan (the “Plan”). As
previously disclosed in the Corporation’s management inf ormation circular dated August 29, 2022, the
purpose of the amendments was to bring the Plan in line with new requirements under the updated Policy
4.4 of the TSX Venture Exchange (“TSXV”). The aggregate number of common shares that may be
reserved for issuance pursuant to options under the Plan and any other share compensation arrangements
of the Corporation shall not exceed 10% of the issued and outstanding common shares of the Corporation
from time to time. The maximum number of common shares issuable un der the Plan pursuant to awards
that are not options, such as deferred share units and restricted share units, may not exceed 10,000,000
common shares. The Plan is subject to final approval of the TSXV.
El Tigre Resource Estimate
After acquiring El Tigre, Silver Tiger drilled 12,500 meters to define the wide halo of near surface gold
mineralization around the mined high-grade veins of the historic El Tigre Mine. This allowed Silver Tiger
to deliver a maiden resource estimate for the El Tigre Property to a depth of 150 meters containing indicated
resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred
resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gol d). The National
Instrument 43-101 Technical Report titled “NI 43 -101 Technical Report and Updated Mineral Resource
Estimate on the El Tigre Project, Sonora, México” effective as of September 7, 2017 and dated October 26,
2017 prepared by David Burga, P.Geo., Yungang Wu, P.Geo., Fred Brown, P.Geo., Jarita Barry, P.Geo.,
Eugene Puritch, P.Eng., FEC, CET, Alfred Hayden, P.Eng. and Richard H. Sutcliffe, Ph.D., P.Geo. of P&E
Mining Consultants Inc. is available on the Corporation’s website at www.silvertigermetals.com and on
www.sedar.com under the Corporation’s profile.
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 hydrothermal 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 meters along
strike and was mined on 14 levels to a depth of approximately 450 meters. The Seitz Kelley Vein was
mined along strike for 1 kilometer to a depth of approximately 200 meters. The Sooy Vein was only mined
along strike for 250 meters to a depth of approximately 150 meters. 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 gold 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.
The El Tigre silver and gold deposit is related to a series of high -grade epithermal veins controlled by a
north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic
Complex within a broad silver and gold mineralized prophylitic alteration zone developed in the El Tigre
Formation that can be up to 150 meters wide. The veins dip steeply to the west and are typically 0.5 meter
wide but locally can be up to 5 meters in width. The veins, structures and mineralized zones outcrop on
surface and have been traced for 5.3 kilometers along strike in our brownfield exploration area. Historical
mining and exploration activities focused on a 1. 6 kilometer portion of the southern end of the deposits,
principally on the El Tigre, Seitz Kelly and Sooy veins. The under explored Caleigh, Benjamin, Protectora
and the Fundadora exposed veins continue north for more than 3 kilometers. Silver Tiger has delivered its
maiden 43-101 compliant resource estimate and is currently drilling to update its resource estimate and
publish a PEA.
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 I nc. can be viewed at:
https://vrify.com/explore/decks/492 and on the Corporation’s website at: www.silvertigermetals.com.
Procedure, Quality Assurance / Quality Control and Data Verification
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When
the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the
core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage
and/or for metallurgical test work.
The sealed and tagged sample bags are transported to the Bureau Veritas facility in Hermosillo, Mexico.
Bureau Veritas crushes the samples (Code PRP70 -250) and prepares 200 -300 gram pulp samples with
ninety percent passing Tyl er 200 mesh (Code PUL85). The pulps are assayed for gold using a 30 -gram
charge by fire assay (Code FA630) and over limits greater than 10 grams per tonne are re-assayed using a
gravimetric finish (Code FA530). Silver and multi -element analysis is complete d using total digestion
(Code MA200 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re -assayed
using a gravimetric finish (Code FA530).
Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples
and includes the systematic insertion and monitoring of appropriate reference materials (certified standards,
blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included
in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement
have passed Silver Tiger’s QA/QC protocols.
Qualified Person
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.
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 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, resources and reserves, the ability to
convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling, the ability
to extend 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 assumpt ions, there can be no
assurance that such statements will prove to be accurate and actual results and future events could differ materially from th ose
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 volati lity,
risk and uncertainties of operating in a foreign jurisdiction as well as additional risks des cribed from time to time in the filings
made by Silver Tiger with securities regulators.