Silver Tiger Intersects from Surfrace 79.5 Metres of 1.13 G/T GOLD Equivalent Including 35.4 Metres of 2.07 G/T GOLD Equivalent IN the Stockwork Deposit
NEWS RELEASE
SILVER TIGER INTERSECTS FROM SURFRACE 79.5 METRES OF 1.13 g/t GOLD
EQUIVALENT INCLUDING 35.4 METRES OF 2.07 g/t GOLD EQUIVALENT
IN THE STOCKWORK DEPOSIT
HALIFAX, NOVA SCOTIA – June 18, 2024 – Silver Tiger Metals Inc. ( TSXV:SLVR and
OTCQX:SLVTF) ("Silver Tiger" or the “Company”) is pleased to provide an update on the first 110 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 Footwall of the
PEA “Starter Pit”.
Drill hole ET-24-583 cut from surface 79.50 metres grading 1.13 g/t gold equivalent or 84.8 g/t silver
equivalent from 0.0 to 79.50 metres, consisting of 0.97 g/t gold and 12.3 g/t silver AND 26.0 metres
grading 0.72 g/t gold equivalent or 53.7 g/t silver equivalent from 101.0 to 127.0 metres, consisting of
0.67 g/t gold and 3.6 g/t silver in the Hanging Wall and Footwall Zones (Figures 1 & 2). The hole passed
through the El Tigre vein and has expanded the Footwall Zone footprint some 50m to east.
Figure 1 : Stockwork Zone Cross Section 4200 N
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-24-571: 44.2 metres grading 1.00 g/t gold equivalent or 75.1 g/t silver equivalent from
surface to 44.2 metres, consisting of 0.49 g/t gold and 38.4 g/t silver AND 57.0 metres grading 0.32
g/t gold equivalent or 24.0 g/t silver equivalent from 55.5 to 112.5 metres consisting of 0.31 g/t gold
and 1.1 g/t silver. The former Hanging Wall intersection shows consistent, higher grades at surface in
the Stater Pit area and the latter Footwall intersection expand the mineralization profile 60m to east
over the 2023 MRE.
• Drill hole ET-24-576: 41.1 metres grading 1.03 g/t gold equivalent or 77.5 g/t silver equivalent from
129.0 to 170.1 metres, consisting of 0.92 g/t gold and 8.5 g/t silver INCLUDING 14.2 metres grading
1.62 g/t gold equivalent or 121.8 g/t silver equivalent from 140.9 to 155.1 metres consisting of 1.52
g/t gold and 7.5 g/t silver gold in the Hanging Wall Zone.
• Drill hole ET-24-580: 27.1 metres grading 0.74 g/t gold equivalent or 55.5 g/t silver equivalent from
25.9 to 53.0 metres, consisting of 0.68 g/t gold and 4.6 g/t silver in the Hanging Wall Zone AND 9.0
metres grading 1.75 g/t gold equivalent or 131.4 g/t silver equivalent from 84.0 to 93.0 metres
consisting of 1 .60 g/t gold and 11.5 g/t silver in the Keel Zone showing high-grade, consistent
mineralization 100m to south of PEA ‘Starter Pit.
Silver Tiger’s CEO, Glenn Jessome, stated, “In line with previous assay results, the Footwall and Keel Zone
are showing significant potential for expansion over the 2023 MRE ” Mr. Jessome further stated, “The
results may increase the updated MRE associated with the PFS -level study, as well as further de -risk the
project.”
On May 20th, Silver Tiger has completed PFS Drilling, totalling 24,550 metres focused on expanding the
Mineral Resource, up -grading the classification, completing metallurgical testwork 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 3 : 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-24-583: Confirms location and grade of AT-SURFACE mineralization inside Starter
Pit AND has expanded the footprint of the Footwall 50m to east over 2023 MRE.
• Drill hole ET-24-571: Confirms location and grade of AT-SURFACE mineralization inside Starter
Pit AND, downhole, expands the Footwall Zone 60m to the east over 2023 MRE;
• Drill hole ET-24-576: Confirms location and grade of the sharp Hanging Wall Zone Contact; and
• Drill hole ET-24-580: Shows high-grade, consistent mineralization 100m 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-24-571 STOCKWORK ZONE 0.0 44.2 44.2 0.49 38.4 1.00 75.1
including 24.0 36.7 12.7 0.89 84.1 2.01 151.0
STOCKWORK ZONE 55.5 112.5 57.0 0.31 1.1 0.32 24.0
STOCKWORK ZONE 122.5 127.0 4.5 1.55 61.5 2.37 177.8
ET-24-572 STOCKWORK ZONE 81.0 125.6 44.6 0.21 5.4 0.29 21.5
STOCKWORK ZONE 144.0 193.7 49.7 0.26 3.8 0.31 23.5
ET-24-573 STOCKWORK ZONE 12.5 14.4 1.9 0.51 0.5 0.51 38.6
STOCKWORK ZONE 25.8 29.0 3.2 0.46 0.7 0.47 35.1
STOCKWORK ZONE 58.0 66.2 8.2 0.36 4.2 0.42 31.5
including 58.0 60.0 2.0 0.71 14.2 0.90 67.6
and 93.0 96.0 3.0 0.52 4.3 0.58 43.4
ET-24-574 STOCKWORK ZONE 99.0 124.0 25.0 0.57 1.4 0.59 44.0
including 99.0 111.0 12.0 0.89 1.3 0.90 67.9
including 101.0 110.0 9.0 1.02 1.4 1.04 77.9
STOCKWORK ZONE 169.0 185.0 16.0 0.15 22.5 0.45 33.8
ET-24-575 No Significant Mineralization
ET-24-576 STOCKWORK ZONE 88.0 95.5 7.5 0.43 0.5 0.44 32.9
STOCKWORK ZONE3 129.0 170.1 41.1 0.92 8.5 1.03 77.5
including 140.9 155.1 14.2 1.52 7.5 1.62 121.8
Mining VOID 166.0 167.2 1.2 * * * *
ET-24-577 STOCKWORK ZONE4 0.0 52.0 52.0 0.19 10.7 0.33 25.0
Mining VOID 47.0 48.0 1.0 * * * *
and 51.0 52.0 1.0 0.51 287.0 4.33 325.0
ET-24-578 STOCKWORK ZONE 0.0 25.5 25.5 0.25 15.3 0.45 34.0
including 4.2 10.8 6.6 0.31 39.0 0.83 62.3
ET-24-579 STOCKWORK ZONE 167.0 187.5 20.5 0.34 7.6 0.44 32.9
including 180.0 187.0 7.0 0.71 11.8 0.87 65.0
Mining VOID 187.5 191.8 4.3 * * * *
ET-24-580 STOCKWORK ZONE 25.9 53.0 27.1 0.68 4.6 0.74 55.5
STOCKWORK ZONE 84.0 93.0 9.0 1.60 11.5 1.75 131.4
ET-24-581 STOCKWORK ZONE 87.0 91.0 4.0 1.28 3.5 1.32 99.3
STOCKWORK ZONE5 121.0 163.0 42.0 0.49 7.2 0.59 44.2
including 129.0 134.0 5.0 1.57 2.6 1.60 120.0
ET-24-582 STOCKWORK ZONE 15.0 27.0 12.0 0.32 0.6 0.33 24.8
STOCKWORK ZONE 44.0 60.0 16.0 0.89 2.8 0.93 69.8
including 54.0 60.0 6.0 1.67 2.6 1.70 127.6
ET-24-583 STOCKWORK ZONE6 0.0 79.5 79.5 0.97 12.3 1.13 84.8
including6 7.0 42.4 35.4 1.79 20.7 2.07 155.2
STOCKWORK ZONE 101.0 127.0 26.0 0.67 3.6 0.72 53.7
Mining VOID 37.8 41.6 3.8 * * * *
ET-24-584 STOCKWORK ZONE 79.0 103.5 24.5 0.60 1.2 0.62 46.4
including 97.0 100.0 3.0 2.94 1.7 2.96 222.3
STOCKWORK ZONE 121.9 131.3 9.4 1.25 2.2 1.28 95.8
including 122.9 129.5 6.6 1.64 2.3 1.67 125.0
ET-24-585 No Significant Mineralization
including 71.4 83.0 11.6 0.57 78.4 1.61 121.1
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 1.20m mining void
4. Excludes 1.00m mining void
5. Excludes 2.75m mining void
6. Excludes 3.80m mining void
Table 2—Drill Hole Locations
Hole ID Easting Northing Elevation Azimuth Dip Length
ET-23-571 671,151.6 3,384,271.3 1972.2 90 -45 136.9
ET-23-572 671,225.8 3,383,531.0 2008.3 90 -70 275.0
ET-23-573 671,218.4 3,383,950.4 1888.0 90 -45 102.0
ET-23-574 671,020.7 3,384,164.0 1911.5 90 -45 279.0
ET-23-575 671,275.7 3,383,592.3 2052.8 90 -45 201.0
ET-23-576 671,009.1 3,384,395.0 2008.5 90 -45 218.0
ET-23-577 671,100.1 3,384,504.2 2080.2 90 -45 153.0
ET-23-578 671,280.8 3,383,652.6 2048.4 90 -45 150.0
ET-23-579 671,012.5 3,384,296.0 1985.3 90 -53 250.0
ET-23-580 671,088.6 3,383,821.3 1893.6 90 -50 126.0
ET-23-581 671,042.8 3,384,275.1 1978.8 105 -50 221.0
ET-23-582 671,229.9 3,383,928.3 1900.6 90 -47 78.0
ET-23-583 671,144.7 3,384,203.4 1965.5 90 -45 150.0
ET-23-584 671,083.5 3,384,145.0 1943.7 90 -80 150.0
ET-23-585 671,252.6 3,384,077.3 1968.3 90 -45 75.0
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.
VRIFY Slide Deck and 3D Presentation – Silver Tiger’s El Tigre Project