Silver Tiger Intersects 96.3 Metres of 100.7 G/T Silver Equivalent IN the Stockwork Zone Including 1.2 Metres of 4,894.1 G/T Silver Equivalent Within the High-Grade Keel Zone
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NEWS RELEASE
SILVER TIGER INTERSECTS 96.3 METRES OF 100.7 g/t SILVER EQUIVALENT IN THE
STOCKWORK ZONE INCLUDING 1.2 METRES OF 4,894.1 g/t SILVER EQUIVALENT
WITHIN THE HIGH-GRADE KEEL ZONE
HALIFAX, NOVA SCOTIA – August 13, 2024 – Silver Tiger Metals Inc. (TSXV:SLVR and
OTCQX:SLVTF) ("Silver Tiger" or the “Company”) is pleased to provide an update on the first 151 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 high-grade nature of the Keel Zone while expanding near-
surface mineralization footprint 700 metres from the Starter Pit.
Drill hole ET-24-617 intersected the Stockwork Zone with 96.3 metres grading 100.7 g/t silver equivalent
or 1.34 g/t gold equivalent from 2.4 to 98.7 metres, consisting of 0.34 g/t gold and 75.4 g/t silver
INCLUDING the high-grade SK Vein with 1.2 metres grading 4,894.1 g/t silver equivalent or 65.25 g/t
gold equivalent from 97.5 to 98.7 metres, consisting of 1.96 g/t gold and 4,747.0 g/t silver (Figure 1). This
hole highlights the newly discovered high-grade Keel Zone and expands Stockwork Zone 50 meters to east,
over the 2023 MRE.
Figure 1 : Stockwork Zone Cross Section 4900 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-24-615: 18.4 metres grading 3.53 g/t gold equivalent or 264.5 g/t silver equivalent from
surface to 18.4 metres, consisting of 1.90 g/t gold and 122.2 g/t silver AND 21.9 metres grading 0.86
g/t gold equivalent or 64.8 g/t silver equivalent from 66.3 to 88.2 metres consisting of 0.40 g/t gold
and 35.2 g/t silver. The hole has expanded Hanging Wall Zone mineralization 25 metres up dip to
surface over 2023 MRE.
• Drill hole ET-24-616: 31.9 metres grading 1.85 g/t gold equivalent or 138.7 g/t silver equivalent from
61.4 to 93.3 metres, consisting of 0.14 g/t gold and 128.5 g/t silver INCLUDING 1.3 metres grading
37.04 g/t gold equivalent or 2,778.3 g/t silver equivalent from 77.4 to 78.7 metres consisting of 1.07
g/t gold and 2,698.0 g/t silver. The hole confirms Hanging Wall Zone mineralization 700 metres north
of Starter Pit and expands mineralization profile 25 metres to the west.
• Drill hole ET-24-619: 24.7 metres grading 1.06 g/t gold equivalent or 79.9 g/t silver equivalent from
3.3 to 28.0 metres, consisting of 0.39 g/t gold and 50.6 g/t silver AND 18.9 metres grading 0.41 g/t
gold equivalent or 30.6 g/t silver equivalent from 41.4 to 60.3 metres consisting of 0.31 g/t gold and
7.4 g/t silver. This hole expands Stockwork mineralization to surface, some 600 metres north of the
PEA ‘Starter Pit.’
Silver Tiger’s CEO, Glenn Jessome, stated, “As we progress to release the PFS study, the last round of
Resource Drilling assay results continues to highlight the extensive Stockwork Zone mineralization at the
El Tigre Project.” Mr. Jessome further stated, “The last and final assay results from Geotechnical drilling
will be released in the coming weeks, completing the assay results from the PFS study.”
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 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-24-617: This hole highlights the newly discovered high-grade Keel Zone and expands
Stockwork Zone mineralization to surface, over the 2023 MRE;
• Drill hole ET-24-615: The hole has expanded Hanging Wall Zone mineralization 25 metres up dip
to surface over 2023 MRE;
• Drill hole ET -24-616: The hole confirms Hanging Wall Zone mineralization 1000 m north of
Starter Pit and expands mineralization profile 25 metres to the west; and
• Drill hole ET -24-619: This hole expands Stockwork mineralization to surface, some 700 metres
north 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-24-613 STOCKWORK ZONE 163.4 182.2 18.8 0.34 16.8 0.56 42.2
ET-24-614 STOCKWORK ZONE 10.4 14.0 3.6 1.12 1.1 1.14 85.2
STOCKWORK ZONE 68.8 97.0 28.2 0.41 1.5 0.43 32.5
ET-24-615 STOCKWORK ZONE3 0.0 18.4 18.4 1.90 122.2 3.53 264.5
STOCKWORK ZONE 34.0 38.4 4.4 0.61 56.7 1.37 102.4
STOCKWORK ZONE 66.3 88.2 21.9 0.40 35.2 0.86 64.8
STOCKWORK ZONE 96.2 118.4 22.2 0.22 18.2 0.46 34.7
STOCKWORK ZONE 129.3 135.3 6.0 0.29 22.2 0.58 43.7
ET-24-616 STOCKWORK ZONE 61.4 93.3 31.9 0.14 128.5 1.85 138.7
including 69.4 78.7 9.3 0.27 399.4 5.60 419.9
including 77.4 78.7 1.3 1.07 2698.0 37.04 2778.3
ET-24-617 STOCKWORK ZONE 2.4 98.7 96.3 0.34 75.4 1.34 100.7
including 4.4 15.4 11.0 0.34 112.6 1.84 137.8
KEEL Zone 97.5 98.7 1.2 1.96 4747.0 65.25 4894.1
ET-24-618 STOCKWORK ZONE 5.5 27.3 21.8 0.23 43.0 0.80 60.2
Mining VOID 27.3 31.5 4.2 * * * *
ET-24-619 STOCKWORK ZONE4 3.3 28.0 24.7 0.39 50.6 1.06 79.9
Mining VOID 17.6 20.6 3.0 * * * *
Mining VOID 21.2 25.0 3.8 * * * *
STOCKWORK ZONE 41.4 60.3 18.9 0.31 7.4 0.41 30.6
ET-24-620 STOCKWORK ZONE 30.0 72.7 42.7 0.34 14.0 0.52 39.2
including 66.4 71.7 5.3 0.20 89.8 1.40 104.7
and 86.1 90.1 4.0 0.12 55.4 0.86 64.5
ET-24-621 STOCKWORK ZONE 26.0 61.0 35.0 0.33 26.2 0.68 50.6
including 54.4 61.6 7.2 0.37 123.5 2.02 151.4
STOCKWORK ZONE 83.6 93.2 9.6 0.13 21.1 0.41 30.7
Mining VOID 93.2 95.2 2.0 * * * *
ET-24-622 STOCKWORK ZONE 21.0 26.3 5.3 0.36 0.5 0.36 27.4
STOCKWORK ZONE 72.6 80.6 8.0 0.33 20.3 0.60 45.3
STOCKWORK ZONE 104.6 111.3 6.7 0.04 170.3 2.31 172.9
Seitz Kelly Vein 133.9 137.6 3.7 0.02 90.9 1.23 92.4
ET-24-623 STOCKWORK ZONE 52.0 57.8 5.8 0.89 159.2 3.01 226.0
STOCKWORK ZONE 138.0 167.4 29.4 0.57 1.1 0.58 43.6
including 138.0 149.5 11.5 1.04 1.4 1.06 79.2
ET-24-624 STOCKWORK ZONE 56.0 74.2 18.2 0.43 35.2 0.90 67.5
including 60.6 69.5 8.9 0.56 64.0 1.41 105.6
ET-24-625 STOCKWORK ZONE 12.0 26.0 14.0 0.96 2.1 0.99 74.4
Seitz Kelly vein 17.3 20.0 2.7 3.77 2.0 3.79 284.5
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 6.80m of Mining void
Table 2—Drill Hole Locations
Hole ID Easting Northing Elevation Azimuth Dip Length
ET-24-613
670,914.0
3,384,753.2 1975.6 90 -45 236.3
ET-24-614
671,248.7
3,383,755.7 1970.9 90 -45 143.2
ET-24-615
671,244.5
3,383,792.6 1957.9 90 -45 154.4
ET-24-616
670,920.1
3,385,159.0 1894.0 110 -45 131.4
ET-24-617
671,010.4
3,384,883.7 1896.2 90 -45 152.4
ET-24-618
671,009.2
3,384,883.6 1896.0 90 -80 31.5
ET-24-619
671,009.5
3,384,883.6 1896.0 90 -70 170.4
ET-24-620
671,100.1
3,384,958.0 1885.5 90 -30 121.4
ET-24-621
671,103.5
3,384,955.0 1885.6 120 -30 95.2
ET-24-622
671,102.7
3,384,955.2 1885.6 140 -50 151.4
ET-24-623
671,011.0
3,384,773.1 1959.7 80 -45 200.0
ET-24-624
671,016.1
3,384,770.2 1960.1 120 -45 125.2
ET-24-625
671,274.3
3,383,708.3 2008.4 90 -45 84.0
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.