Silver Tiger Intersects 50.7 Metres of 155.0 G/T Silver Equivalent IN the Stockwork Zone Including 14.3 Metres of 334.3 G/T Silver Equivalent Within the High-Grade Keel Zone
NEWS RELEASE
SILVER TIGER INTERSECTS 50.7 METRES OF 155.0 g/t SILVER EQUIVALENT IN THE
STOCKWORK ZONE INCLUDING 14.3 METRES OF 334.3 g/t SILVER EQUIVALENT
WITHIN THE HIGH-GRADE KEEL ZONE
HALIFAX, NOVA SCOTIA – July 30, 2024 – Silver Tiger Metals Inc. (TSXV:SLVR and
OTCQX:SLVTF) ("Silver Tiger" or the “Company”) is pleased to provide an update on the first 138 drill
holes of the Company’s Pre-Feasibility Study (“PFS”) drilling program on its El Tigre Project in Sonora,
Mexico. These new results are highlighting the expansion of stockwork mineralization in the Keel Zone ,
now projecting mineralization 100 metres below the PEA designed pit.
Drill hole ET-24-609 has intersected significant mineralization in the HW Stockwork Zone, and the Keel
Zone in both El Tigre and Seitz Kelly veins. The hole intersected 50.7 metres grading 155.0 g/t silver
equivalent or 2.07 g/t gold equivalent, consisting of 0.17 g/t gold and 142.1 g/t silver, from 178.4 to 229.1
metres in the Keel Zone of the Seitz Kelly vein. The interval also includes 14.3 metres grading 334.3 g/t
silver equivalent or 4.46 g/t gold equivalent from 198.4 to 212.7 metres, consisting of 0.20 g/t gold and
319.5 g/t silver. This hole highlights the high-grade Keel Zone in the Seitz Kelly Vein, some 100 metres
below the PEA pit (Figure 1).
The hole also intersected 40.0 metres grading 80.7 g/t silver equivalent or 1.08 g/t gold equivalent ,
consisting of 0.09 g/t gold and 74.1 g/t silver, from 124.4 to 164.4 metres in the Keel Zone of the El Tigre
vein some 50 metres below the PEA pit. The interval also includes 17.3 metres grading 143.8 g/t silver
equivalent or 1.92 g/t gold equivalent from 145.1 to 162.4 metres, consisting of 0.12 g/t gold and 134.7
g/t silver (Figure 1).
In the Hanging Wall gold stockwork zone, the hole cut two significant zones of gold and silver
mineralization including 24.2 metres from 3.7 to 27.9 metres grading 58.1 silver equivalent or 0.77 g/t gold
equivalent, consisting of 0.76 g/t gold and 0.8 g/t silver, and 53.8 metres from 51.4 to 105.2 metres grading
44.7 silver equivalent or 0.60 g/t gold equivalent, consisting of 0.56 g/t gold and 2.8 g/t silver (Figure 1).
Silver Tiger’s CEO, Glenn Jessome, stated, “As we progress to a PFS release in September 2024 we
continue to receive promising assay results, especially in the newly defined Keel Zone and high -grade El
Tigre and Seitz Kelly veins” Mr. Jessome further stated, “These results further de -risk the project, as we
increase the confidence and size of the new MRE as we are now discovering stockwork mineralization 100
meters below the PEA designed pit.”
On May 20th, Silver Tiger has completed PFS Drilling, totalling 24,550 metres focused on expanding the
Mineral Resource, upgrading the classification, completing metallurgical test work and geotechnical studies
as it progresses from an exploration to a development project. The value-added PFS progress is on schedule
for publication in H2-2024.
Silver Tiger Attends the 2024 Precious Metals Summit in Beaver Creek, Colorado
Silver Tiger is attending the 2024 Precious Metals Summit in Beaver Creek, Colorado on September 10 to
13, 2024. Glenn Jessome, Silver Tiger's CEO, will be delivering a presentation
Figure 1 : Stockwork Zone Cross Section 4200 N
Highlighted Intersections
New intersections through the Stockwork gold deposit, comprised of the Footwall, Hanging Wall and high-
grade Keel Zones, are highlighted below, shown on Figure 2 and listed in Table 1.
• Drill hole ET-24-600: 46.5 metres grading 0.83 g/t gold equivalent or 62.1 g/t silver equivalent from
19.5 to 66.0 metres, consisting of 0.37 g/t gold and 34.3 g/t silver INCLUDING 13.3 metres grading
1.90 g/t gold equivalent or 142.5 g/t silver equivalent from 19.5 to 32.8 metres consisting of 0.49 g/t
gold and 105.6 g/t silver. The hole has expanded Hanging Wall Zone mineralization to the west 25
metres and confirms high-grade mineralization 500 metres to the north of the ‘Starter Pit.’
• Drill hole ET-24-602: 92.5 metres grading 0.66 g/t gold equivalent or 49.2 g/t silver equivalent from
49.5 to 142.0 metres, consisting of 0.45 g/t gold and 15.5 g/t silver INCLUDING 10.6 metres grading
1.72 g/t gold equivalent or 129.4 g/t silver equivalent from 130.4 to 141.0 metres consisting of 0.57
g/t gold and 86.6 g/t silver. The hole has expanded Hanging Wall Zone mineralization to the west 15
metres and confirms high-grade mineralization 200 metres to the south of the ‘Starter Pit.’
• Drill hole ET-24-607: 120.5 metres grading 0.69 g/t gold equivalent or 51.9 g/t silver equivalent from
7.9 to 128.4 metres, consisting of 0.58 g/t gold and 8.1 g/t silver INCLUDING 7.6 metres grading
1.67 g/t gold equivalent or 125.1 g/t silver equivalent from 87.8 to 95.4 metres consisting of 1.46 g/t
gold and 15.4 g/t silver. This hole confirms near-surface, high-grade mineralization 100m south of the
PEA ‘Starter Pit.’
• Drill hole ET-24-609: 24.2 metres grading 0.77 g/t gold equivalent or 58.1 g/t silver equivalent from
3.7 to 27.9 metres, consisting of 0. 76 g/t gold and 0.8 g/t silver. A second interval of 53.8 metres
grading 0.60 g/t gold equivalent or 44.7 g/t silver equivalent from 51.4 to 105.2 metres, consisting of
0.56 g/t gold and 2.8 g/t silver . Both these intersections are in the HW Stockwork Zone of the Starter
Pit.
Figure 2: Stockwork Zone – Plan View
Highlights from the on-going Pre-Feasibility Study Drilling Program include the following:
• Expanding known mineralization by 10 to 15%, to the footwall and hanging wall zones, as well as the
higher-grade ‘Keel’ at PEA pit bottom associated with the El Tigre and SK Veins;
• Converting first two to three years of mineralized material in the potential ‘Starter Stockwork Zone’
from Indicated Mineral Resource to Measured;
• Converting a significant portion of the 2 km strike length ‘ultimate’ PEA pit -constrained Inferred
Mineral Resource to Indicated;
• Completion of enhanced PFS Metallurgical Drilling, with samples underway comminution and leach
testing; and
• Completion of enhanced PFS Geotechnical Drilling, with samples undergoing testing.
Mineral Resource Drilling
P&E Mining Consultants Inc. (“P&E”) of Brampton, Ontario completed the initial MRE in 2017. On Oct
27, 2023, P&E released an updated El Tigre Project NI 43-101 and NI 43-01 F1 compliant MRE technical
report titled “Technical Report and Updated Mineral Resource Estimate of the El Tigre Silver-Gold Project,
Sonora, Mexico” authored by William Stone, Ph.D., P.Geo.,Yungang Wu, P.Geo., Fred H. Brown, P.Geo.,
Jarita Barry, P.Geo. , David Burga, P.Geo., D. Grant Feasby, P.Eng. , Eugene Puritch, P.Eng., FEC, CET
and David Salari, P.Eng. The MRE has a pit-constrained Indicated Mineral Resource totaling 43.0 million
tonnes containing 818 thousand ounces AuEq grading 0.59 g/t AuEq; and a pit-constrained Inferred Mineral
Resource of 11.5 million tonnes containing 267 thousand ounces AuEq grading 0.72 g/t AuEq (see update
MRE press release dated September 12th 2023).
PEA-level bench optimization of the pit-constrained Mineral Resource highlighted the higher-grade (~0.80
gpt AuEq), low strip ratio (~0.3) potential Starter Stockwork Zone (see PEA press release dated November
1st, 2023). Recommendations of the PEA-level study included increasing Mineral Resource confidence in
potential ‘Starter Stockwork Zone’ and additional exploratory drilling to target the 1) Footwall, 2) Hanging
Wall and 3) ‘Keel’ areas of the Stockwork Zone. P&E were again retained to lead the current El Tigre PFS-
level study. Complete and final assay results are listed in Table 1.
Below, highlighted intersections are enumerated with reference to the three (3) zones targeted (Figure 2):
• Drill hole ET-24-600: This hole has expanded Hanging Wall Zone mineralization to the west 25
metres and confirms high-grade mineralization 500 metres to the north of the ‘Starter Pit.’;
• Drill hole ET-24-602: This hole has expanded Hanging Wall Zone mineralization to the west 15
metres and confirms high-grade mineralization 100 metres to the south of the ‘Starter Pit.’;
• Drill hole ET-24-607: This hole confirms near -surface, high-grade mineralization 100m south of
the PEA ‘Starter Pit.’; and
• Drill hole ET-24-609: This hole highlights the high-grade Keel Zone on the Seitz Kelly Vein some
100m beneath the floor of the PEA Starter Pit.
Table 1—Mineral Resource Drill Hole Results
AuEq
Total (2)
AgEq
Total (2) Hole ID Comment From To Length(1) Gold Silver
m m m g/t g/t g/t g/t
ET-24-600 STOCKWORK ZONE 19.5 66.0 46.5 0.37 34.3 0.83 62.1
including 19.5 32.8 13.3 0.49 105.6 1.90 142.5
and 107.0 111.0 4.0 0.21 207.0 2.97 222.6
and 118.0 123.0 5.0 0.05 71.8 1.01 75.7
ET-24-601 STOCKWORK ZONE3 44.5 64.5 20.0 0.79 105.6 2.20 164.9
including3 48.2 59.5 11.3 1.30 193.6 3.88 290.9
STOCKWORK ZONE 87.9 103.0 15.1 0.42 2.8 0.45 34.0
ET-24-602 STOCKWORK ZONE 49.5 142.0 92.5 0.45 15.5 0.66 49.2
including 78.0 103.0 25.0 0.88 15.9 1.09 82.1
including 130.4 141.0 10.6 0.57 86.6 1.72 129.4
ET-24-603 STOCKWORK ZONE 41.2 67.2 26.0 0.33 1.0 0.34 25.6
and 133.1 134.8 1.7 1.76 3.1 1.80 135.1
and 161.7 162.7 1.0 2.93 5.0 2.99 224.4
and 175.2 184.9 9.7 0.85 5.8 0.93 69.6
ET-24-604 STOCKWORK ZONE 10.8 17.1 6.3 0.03 19.8 0.30 22.3
STOCKWORK ZONE 31.0 65.5 34.5 0.14 18.5 0.38 28.9
including 31.0 37.0 6.0 0.09 68.4 1.00 74.9
STOCKWORK ZONE 116.0 136.3 20.3 0.23 6.3 0.31 23.2
ET-24-605 STOCKWORK ZONE 24.7 32.2 7.5 0.93 0.5 0.94 70.4
STOCKWORK ZONE 84.2 103.0 18.8 0.16 23.9 0.48 35.8
STOCKWORK ZONE 120.7 126.7 6.0 0.94 1.0 0.96 71.8
STOCKWORK ZONE4 203.2 223.2 20.0 0.31 4.0 0.36 27.1
including 204.0 214.6 10.6 0.42 5.8 0.50 37.3
ET-24-606 STOCKWORK ZONE 57.1 59.6 2.5 0.98 0.5 0.99 73.9
STOCKWORK ZONE 110.2 114.0 3.8 0.34 0.8 0.35 26.2
STOCKWORK ZONE 159.9 180.8 20.9 0.35 25.6 0.69 51.4
Mining VOID 180.8 185.2 4.4 * * * *
ET-24-607 STOCKWORK ZONE5 7.9 128.4 120.5 0.58 8.1 0.69 51.9
and 87.8 95.4 7.6 1.46 15.4 1.67 125.1
ET-24-609 STOCKWORK ZONE 3.7 27.9 24.2 0.76 0.8 0.77 58.1
STOCKWORK ZONE 51.4 105.2 53.8 0.56 2.8 0.60 44.7
El Tigre Vein Keel 124.4 164.4 40.0 0.09 74.1 1.08 80.7
including 145.1 162.4 17.3 0.12 134.7 1.92 143.8
Seitz Kelly Vein Keel 178.4 229.1 50.7 0.17 142.1 2.07 155.0
including 198.4 212.7 14.3 0.20 319.5 4.46 334.3
Notes:
1. Not true width.
2. Silver Equivalent (“AgEq”) ratios are based on a silver to gold price ratio of 75:1 (Au:Ag).
3. Excludes 1.10m of Mining void
4. Excludes 1.40m of Mining void
5. Excludes 2.50m of Mining void
Drill holes ET-24-608, 610, 611 and 612 have no significant assays to report as the holes were exploration-
oriented and located on periphery of mineralization.
Table 2—Drill Hole Locations
Hole ID Easting Northing Elevation Azimuth Dip Length
ET-24-600
671,010.6
3,384,850.0 1892.0 90 -65 137.0
ET-24-601
671,230.6
3,383,690.2 2000.2 90 -45 103.0
ET-24-602
671,165.9
3,383,689.4 1988.5 90 -45 181.5
ET-24-603
671,236.8
3,383,262.3 1931.7 90 -45 206.2
ET-24-604
670,960.7
3,385,047.8 1856.6 90 -45 183.0
ET-24-605
671,024.8
3,384,643.8 2076.8 90 -50 245.2
ET-24-606
671,023.6
3,384,643.8 2076.8 90 -75 222.0
ET-24-607
671,191.8
3,383,747.1 1956.2 90 -45 188.4
ET-24-608
671,225.2
3,384,150.5 2018.4 90 -45 111.0
ET-24-609
671,084.8
3,384,202.2 1932.1 90 -70 248.4
ET-24-610
671,209.3
3,385,147.0 1976.3 90 -45 50.4
ET-24-611
671,194.2
3,385,084.2 1953.5 90 -45 101.4
ET-24-612
671,128.6
3,385,043.7 1921.8 90 -45 50.4
Figure 3: El Tigre – Conceptual Cross-Section Showing Mineralization Styles
Figure 4: El Tigre—Longitudinal Projection Showing Exploration Potential
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 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 Vein was mined along strike
for 1 kilometre to a depth of approximately 200 metres. The Sooy Vein was only mined along strike for
250 metres to a depth of approximately 150 metres. Mining abruptly stopped on all three of these veins
when the price of silver collapsed to less than US20¢ 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 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 metres wide. The veins dip steeply to the west and are typically 0.5 metre wide;
however, locally can be up to 5 metres in width. The veins, structures and mineralized zo nes outcrop on
surface and have been traced for 5.3 kilometres along strike in our brownfield exploration area. Historical
mining and exploration activities focused on a 1.6-kilometre 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 kilometres. Silver Tiger has delivered its
updated NI 43-101 compliant Mineral Resource Estimate and PEA and is currently drilling to update its
Mineral Resource Estimate and publish a PFS.