Silver One Commences Drilling at Its High-Grade Phoenix Silver Project, Arizona Drill Targets Include Vein Structures That Are Potential Source of Multiple Vein Fragments Including a 417 Pound Native Silver-Rich Vein Fragment

SILVER ONE COMMENCES DRILLING AT ITS HIGH-GRADE PHOENIX SILVER

PROJECT, ARIZONA

DRILL TARGETS INCLUDE VEIN STRUCTURES THAT ARE POTENTIAL SOURCE OF MULTIPLE VEIN

FRAGMENTS INCLUDING A 417 POUND NATIVE SILVER-RICH VEIN FRAGMENT

Vancouver, British Columbia--(October 2, 2024) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF)

(FSE: BRK1) (“Silver One” or the “Company”) is pleased to announce drilling has commenced at its high-

grade Phoenix Silver Project located near Globe, Arizona. The program consists of 2,500 metres in up to

40 holes of core drilling to test the first of several silver targets identified to date in the property.

The main drill target is the 417 Target Area which includes the potential source of very high-grade silver

vein fragments located around the 417 pound (189 kg) vein fragment found in the central part of the

property (see Figures 1, 2 and 3). This vein fragment was not assayed, as it is a collectors’ specimen, but

specific gravity tests indicate a very high-grade silver content of up to 70% native silver (see News Release

of Feb 5, 2020). Multiple other smaller specimens found in the property, also containing abundant visible

native silver, assayed up to 459,000 g/t (13,385 oz /t troy ounce per short ton ) silver (see Figure 2b and

News Release of Feb 5, 2020).

Greg Crowe, Silver One’s President, CEO and Director, commented, “We are very excited to initiate the

inaugural drilling program at this exceptional project. The property has never been drilled but the outlook

is promising as evidenced by the abundance and nature of the very high -grade silver fragments found

around the drilling area. The angular and unabraded nature to the fragments that have been discovered

at shallow depths under the cover soil suggests this material has not traveled far from its suspected source.

The best drill targets identified to date are just upslope from where the 417 -pound fragment was

uncovered and are coincidental with the location of geophysical and geochemical anomalies. “

Program Details and Background

The drilling program consists of 2,500 metres including up to 40 diamond drill holes off 13 different drill

pads (Figure 1). Seven priority silver and polymetallic targets have been delineated to date using a drone-

mounted magnetic survey and via geological mapping conducted in selected areas of the property (Figure

3). Rock sampling, soil geochemistry and geophysical surveys ( self-potential – an electrical surveying

method used in mineral exploration) conducted over selected areas have also delineated anomalies that

coincide with exploration targets and highlight the importance of the 417 -pound silver fragment target

and Mexican Mine areas (See July 28, 2020 and January 11, 2021 news releases).

The current drill permit encompasses only the 417 Target area (Figure 1 and 3). This target includes part

of the 417 vein as well as several other vein-structures. This area is considered the top priority given that

it is the potential source of most of the large silver fragments found on the property to date. It is worth

noting however, that although evidence of silver mineralization has been identified elsewhere in the

property, less than 50% of the property has been prospected and geochemically sampled and only a

fraction (417 Target area) has been mapped in detail. Over 200 smaller silver samples have been collected

to date from various areas on the property. Thus, Silver One management believes that with continued

exploration several more areas will yield positive results and is optimistic about the larger scale

exploration potential of the property.

Figure 1 – Map of the 417 Vein Target Area showing outcropping veins and permitted drill pad locations.

Figure 2 (a) and (b) – a) Left: 417 pound vein fragment containing estimated 70% silver (determined by specific gravity

method). The photo is of a selected sample that is not necessarily representative of the mineralization hosted on the

property. b) Right: 459,000 g/t silver (13,385 oz /t) vein fragment containing abundant visible native silver . This

sample is not necessarily representative of the mineralization hosted on the property.

Figure 3 – Map of the Phoenix Silver property, showing main veins and targets. Much of the north half of the property

is covered by Tertiary and Quaternary gravel and alluvium and has not been mapped in detail. Target # 1 (or 417

Target Area) encompasses the 417 lb silver fragment, multiple veins (see figure 1) and the permitted area for drilling.

Targets south of the 417 area, include polymetallic veins as well as alteration zones potentially associated with

porphyry-style mineralization.

Qualified Person

The technical content of this news release has been reviewed and approved by Robert M. Cann, P. Geo,

a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the

Company.

About Silver One

Silver One is focused on the exploration and development of quality silver projects. The Company holds

a 100% interest in its flagship project, the past -producing Candelaria Mine located in Nevada. Potential

reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-

term production. Additional opportunities lie in previously identified high-grade silver intercepts down-

dip and potentially increasing the substantive silver mineralization along -strike from t he two past -

producing open pits.

The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln

County, Nevada, host to multiple silver -copper-gold vein systems, traced to date for over 11 km along -

strike.

Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very

high-grade native silver prospect that lies within the “Arizona Silver Belt ,” immediately adjacent to the

prolific copper producing area of Globe, Arizona.

For more information, please contact:

Silver One Resources Inc.

Gary Lindsey - VP, Investor Relations

Phone: 604-974‐5274

Mobile : (720) 273-6224

Email : [email protected]

Forward-Looking Statements

Information set forth in this news release contains forward -looking statements that are based on

assumptions as of the date of this news release. These statements reflect management's current

estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One

cautions that all forward-looking statements are inherently uncertain, and that actual performance may

be affected by a number of material factors, many of which are beyond Silver One's control. Such factors

include, among other things: risks and uncertainties relating to Silver One's limited operating histor y,

ability to obtain sufficient financing to carry out its exploration and development objectives on the

Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with

environmental and governmental regulations. Accordingly, actual and future events, conditions and

results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied

in the forward-looking information. Except as required under applicable securities legislation, Silver One

undertakes no obligation to publicly update or revise forward-looking information.

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