Silver Tiger Intersects 59.0 Metres of 66.7 G/T Silver Equivalent IN the Stockwork Zone Including 2.0 Metres of 635.1 G/T Silver Equivalent Within the High-Grade El Tigre Vein
NEWS RELEASE
SILVER TIGER INTERSECTS 59.0 METRES OF 66.7 g/t SILVER EQUIVALENT IN THE
STOCKWORK ZONE INCLUDING 2.0 METRES OF 635.1 g/t SILVER EQUIVALENT
WITHIN THE HIGH-GRADE EL TIGRE VEIN
HALIFAX, NOVA SCOTIA – July 9, 2024 – Silver Tiger Metals Inc. (TSXV:SLVR and OTCQX:SLVTF)
("Silver Tiger" or the “ Company”) is pleased to provide an update on the first 125 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 the mineralization along the Hanging Wall Zone of the PEA
“Starter Pit”.
Silver Tiger Attends the Rule Symposium
This week Silver Tiger is attending the Rule Symposium in Boca Raton, Florida. Glenn Jessome, Silver
Tiger's CEO, will be delivering a breakfast presentation at the Rule Symposium on Thursday, July 11. The
Rule Symposium is a resource investing forum hosted by Rick Rule. Silver Tiger will be located in Booth
44 at the Symposium.
Drill hole ET-24-592 intersected the Hanging Wall Stockwork Zone with 59.0 metres grading 66.7 g/t
silver equivalent or 0.89 g/t gold equivalent from 80.3 to 139.3 metres, consisting of 0.62 g/t gold and
20.4 g/t silver INCLUDING the high -grade El Tigre Vein with 2.0 metres grading 635.1 g/t silver
equivalent or 8.47 g/t gold equivalent from 134.5 to 136.5 metres, consisting of 2.33 g/t gold and 460.5
g/t silver (Figures 1). The hole was lost in the open stope of the El Tigre vein and abandoned at a depth of
143.3 metres.
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-24-590: 72.0 metres grading 60.8 g/t silver equivalent or 0.81 g/t gold equivalent from
148.0 to 220.0 metres, consisting of 0.62 g/t gold and 14.5 g/t silver INCLUDING 24.0 metres grading
90.2 g/t silver equivalent or 1.20 g/t gold equivalent from 181.5 to 205.5 metres consisting of 1.02 g/t
gold and 14.0 g/t silver. The hole shows consistent, high-grade mineralization some 100 metres north
of the Starter Pit area, expanding mineralization to the north.
• Drill hole ET -24-588: 22.0 metres grading 101.5 g/t silver equivalent or 1.35 g/t gold equivalent
from 76.5 to 98.5 metres, consisting of 0.62 g/t gold and 54.7 g/t silver AND 11.0 metres grading
139.4 g/t silver equivalent or 1.86 g/t gold equivalent from 146.5 to 157.5 metres consisting of 0.1 6
g/t gold and 127.7 g/t silver. The hole confirms the Hanging Wall Zone 400 metres south of the Starter
Pit and confirms unmined, high-grade El Tigre Vein in the area.
• Drill hole ET-24-586: 18.2 metres grading 46.2 g/t silver equivalent or 0.62 g/t gold equivalent from
1.0 to 19.2 metres, consisting of 0.53 g/t gold and 6.6 g/t silver in the Footwall Zone AND 1.8 metres
grading 1123.4 g/t silver equivalent or 14.98 g/t gold equivalent from 33.7 to 35.5 metres consisting
of 1.10 g/t gold and 1041.0 g/t silver in the El Tigre Vein showing high-grade, consistent mineralization
to south of PEA ‘Starter Pit.
Figure 1 : Stockwork Zone Cross Section 4100 N
Silver Tiger’s CEO, Glenn Jessome, stated, “We continue to receive promising results for our PFS Drilling
Program, especially in the newly defined Hanging Wall Zone and high-grade El Tigre Vein” Mr. Jessome
further stated, “These results further de-risk the project, as we increase the confidence and size of the new
MRE. We intend to release our PFS by September 2024.”
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.
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 kilometres 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-24-590: The hole shows consistent, high grade mineralization some 100 metres north
of the Starter Pit area, expanding mineralization to the north;
• Drill hole ET-24-592: The hole carries the stockwork zone mineralization in the Hanging Wall of
the Stater Pit area,
• Drill hole ET-24-588 The hole confirms the Hanging Wall Zone 400 metres south of the Starter Pit
and confirms unmined, high-grade El Tigre Vein in the area; and
• Drill hole ET -24-586: The Hole intersects the El Tigre Vein showing high -grade, consistent
mineralization to south of 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-24-586 STOCKWORK ZONE 1.0 19.2 18.2 0.53 6.6 0.62 46.2
Mining VOID 32.0 33.7 1.7 * * * *
El Tigre Vein 33.7 39.5 5.8 0.43 328.3 4.81 360.6
including 33.7 35.5 1.8 1.10 1041.0 14.98 1123.4
STOCKWORK ZONE 49.5 57.0 7.5 0.52 4.8 0.59 44.1
Seitz Kelly 66.0 78.4 12.4 0.54 13.7 0.72 54.1
ET-24-587 STOCKWORK ZONE 100.0 108.0 8.0 0.43 1.6 0.46 34.2
STOCKWORK ZONE 129.0 185.8 56.8 0.26 3.5 0.31 23.0
STOCKWORK ZONE 237.3 244.0 6.7 0.13 12.8 0.30 22.4
Mining VOID 245.8 249.0 3.2 * * * *
ET-24-588 STOCKWORK ZONE3 76.5 98.5 22.0 0.62 54.7 1.35 101.5
STOCKWORK ZONE 114.0 122.5 8.5 0.37 1.8 0.39 29.2
STOCKWORK ZONE 146.5 157.5 11.0 0.16 127.7 1.86 139.4
including 147.5 152.0 4.5 0.25 268.8 3.83 287.4
ET-24-590 STOCKWORK ZONE 148.0 220.0 72.0 0.62 14.5 0.81 60.8
including 181.5 205.5 24.0 1.02 14.0 1.20 90.2
ET-24-592 STOCKWORK ZONE 80.3 139.3 59.0 0.62 20.4 0.89 66.7
including 125.5 136.5 11.0 1.18 86.6 2.34 175.5
including 134.5 136.5 2.0 2.33 460.5 8.47 635.1
Mining VOID 139.3 143.3 4.0 * * * *
ET-24-593 STOCKWORK ZONE 26.9 40.6 13.7 0.67 4.4 0.73 54.7
STOCKWORK ZONE 66.8 77.5 10.7 1.04 1.6 1.06 79.5
STOCKWORK ZONE 136.5 145.5 9.0 0.87 0.6 0.88 65.8
ET-24-594 STOCKWORK ZONE4 186.5 231.5 45.0 0.43 10.6 0.57 42.7
ET-24-595 STOCKWORK ZONE 7.0 10.0 3.0 1.03 1.8 1.06 79.3
STOCKWORK ZONE 64.5 73.5 9.0 0.39 1.3 0.40 30.1
ET-24-596 STOCKWORK ZONE 29.8 37.9 8.1 1.08 1.7 1.10 82.4
including 34.1 35.4 1.3 3.03 3.0 3.07 230.2
ET-24-597 STOCKWORK ZONE 33.2 42.1 8.9 0.48 46.5 1.10 82.2
Mining VOID 42.1 46.0 3.9 * * * *
ET-24-598 STOCKWORK ZONE5 13.0 47.0 34.0 0.31 9.2 0.43 32.4
STOCKWORK ZONE 61.0 67.0 6.0 0.46 0.8 0.47 35.0
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 2.00 metres of Mining void
4. Excludes 1.80 metres of Mining void
5. Excludes 1.70 metres of Mining void
Drill hole ET-24-589 has no assays to report as the holes was aborted due to technical issues. Drill holes ET-
24-591 and ET -24-599 have no 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-24-586
671,202.5
3,383,902.1 1903.9 130 -45 103.0
ET-24-587
671,099.5
3,383,646.4 1981.5 90 -50 249.0
ET-24-588
671,175.5
3,383,654.4 2006.5 90 -50 264.0
ET-24-589
671,042.7
3,384,275.2 1979.1 110 -60 56.3
ET-24-590
671,038.0
3,384,544.4 2097.6 90 -75 251.5
ET-24-591
671,231.6
3,384,202.0 2024.9 90 -45 105.0
ET-24-592
671,056.2
3,384,119.6 1935.7 90 -45 143.3
ET-24-593
671,205.1
3,384,149.2 2016.6 90 -45 150.0
ET-24-594
671,044.1
3,384,589.1 2099.0 90 -85 281.5
ET-24-595
671,217.0
3,384,193.6 2015.5 90 -45 126.0
ET-24-596
671,308.0
3,383,192.1 1846.2 90 -45 76.9
ET-24-597
671,010.2
3,384,850.0 1891.8 90 -80 46.0
ET-24-598
671,011.6
3,384,850.0 1892.1 90 -45 74.0
ET-24-599
671,212.3
3,384,302.1 2004.0 90 -45 102.0
Figure 4: El Tigre – Conceptual Cross-Section Showing Mineralization Styles
Figure 5: 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.