SVE.V · 2021-05-26 12:00:00

SILVER ONE INTERCEPTS 1,776 g/t Silver AND 2.55 g/t GOLD OVER 1.5 METERS Drilling continues to expand mineralization at Candelaria, Nevada

Drill Results

SILVER ONE INTERCEPTS 1,776 g/t Silver AND 2.55 g/t GOLD OVER 1.5 METERS

Drilling continues to expand mineralization at Candelaria, Nevada

Vancouver, BC – May 26, 2021 ‐ Silver One Resources Inc. (TSXV: SVE; OTCQX: SLVRF; FSE: BRK1 ‐ “Silver

One” or the “Company”) is pleased to report results of fourteen additional drill holes from its 52‐hole reverse

circulation (RC) and diamond drilling program recently completed at Candelaria. The first 11 holes of this

program were released on February 16, 2021. Drilling intercepts continue expanding down‐dip, higher‐grade

silver mineralization north of Mount Diablo pit and between Northern Belle and Mount Diablo pits.

Additionally, drilling has extended near surface silver‐oxide mineralization for 100 meters to the east and 500

meters to the west of the Mount Diablo open‐pit, with the mineralized system remaining open along‐strike in

both directions.

Highlights include:

 A high‐grade intercept of 1,776 g/t silver and 2.55 g/t gold over 1.52 meters, within a 7.62‐meter

interval that averaged 563 g/t silver and 0.73 g/t gold in hole SO‐C‐21‐73 (see table 1 and map below),

in the same area where previous drilling intercepted values to 1,129 g/t silver and 1.33 g/t gold over

8 m within a 28 m interval of 350 g/t silver and 0.45 g/t gold (see news release of May 26, 2020) and

1,032 g/t silver and 1.51 g/t gold over 3 m within 12 m of 407 g/t silver and 0.55 g/t gold (see news

release of February 16, 2021)

 Additional intercepts include: 546 g/t silver and 1.16 g/t gold over 3.05 meters, within a 13.72‐meter

interval averaging 233 g/t silver and 0.47 g/t gold in hole SO‐C‐21‐74 and; 477 g/t silver and 1.47 g/t

gold over 3.05 meters, within a 7.62‐meter interval averaging 273 g/t silver and 0.74 g/t gold in hole

SO‐C‐21‐79

 Drill holes SO‐C‐20‐69, SO‐C‐21‐72A and SO‐C‐21‐79 have extended the down‐dip mineralization an

additional 250 meters to the north of Mount Diablo pit, with select silver equivalent grades that

greatly exceed the historical average grade of 88 g/t of silver mined in the open pits.

 Drill holes intercepts have also expanded the along‐strike, potential open‐pit mineralization 100

meters and 500 meters to the east and west of the Mount Diablo pit, respectively. Mineralization

remains open along strike

Gold and silver assays are set out in Table 1 below. Coordinates and other identification drill hole data are

in Table 2 at the end of this release. Drill collars are also shown on a site map in Figure 1.

The 15,000 meter drill program was successful in outlining a zone of higher‐grade, down‐dip

mineralization north of the Mt. Diablo pit and in highlighting the along‐strike continuation of the more

easily accessible near surface mineralization, marginal to the two past‐producing open‐pits. Numerous

historical workings occur on the property along the main east‐west trending mineralized structure and

have been traced for over 4 km to the east and west of the two open‐pits. This enhances the upside

exploration potential for the potential discovery of additional mineralized systems. Further exploration

and drilling will be required to more fully outline the upside potential for additional mineralization at

Candelaria.

Silver One’s President and CEO, Greg Crowe commented: “Upon completion of the company’s current

round of RC drilling, we continue seeing the expansion of coherent clusters of down‐dip, higher‐grade silver

mineralization. Grades encountered in drilling here suggest that, under the right economic conditions, this

mineralization has the potential to be accessed by underground methods. Also, the presence of near‐

surface silver‐oxide mineralization along‐strike and adjacent to the Mount Diablo pit has potential for near‐

surface access. Metallurgical studies of this material will be undertaken with the goal of mixing fresh

mineralization and historic leach pad mineralization with the goal of potentially increasing the overall

grade and silver recoveries. A second phase of drilling is warranted which will focus on in‐fill and step outs

to explore the continuity of silver mineralization farther to the east and west from the pits. Currently, our

geologists are preparing RC samples for metallurgical studies as well as conducting geological and resource

modelling in anticipation for additional drilling and the completion of an economic assessment study by

year end.”

Table 1. Relevant recent assay results from RC drilling. Silver values over 150 g/t are highlighted in yellow.

Hole 67 reported previously, is repeated here to amend an error in the February 16, 2021 news release:

From (m) To (m) Width (m) Au (g/t) Ag (g/t) Area

SO‐C‐20‐067 349.00 352.04 3.05 0.2 146.0 North Diablo

Includes 349.00 350.52 1.52 0.34 244.0 North Diablo

426.72 428.24 1.52 0.02 67.8 North Diablo

SO‐C‐20‐068 111.25 141.73 30.48 0.06 40.0 West Diablo

Includes 118.87 131.06 12.19 0.06 70.0 West Diablo

SO‐C‐20‐069 484.63 487.68 3.05 0.2 86.0 North Diablo

SO‐C‐20‐070 245.36 263.65 18.29 0.09 48.0 North Diablo

Includes 245.36 248.41 3.05 0.09 99.4 North Diablo

SO‐C‐21‐071A 222.50 228.60 6.10 0.11 96.0 North Diablo

Includes 222.50 225.55 3.05 0.19 154.0 North Diablo

SO‐C‐21‐072A 432.82 446.53 13.72 0.28 198.0 North Diablo

Includes 435.86 440.44 4.57 0.44 330.0 North Diablo

Includes 443.48 446.53 3.05 0.44 329.0 North Diablo

SO‐C‐21‐073 108.20 111.25 3.05 0.52 70.0 North Diablo

149.35 155.45 6.10 0.12 99.4 North Diablo

156.97 164.59 7.62 0.73 563.0 North Diablo

Includes 163.07 164.59 1.52 2.55 1,776.0 North Diablo

164.59 170.69 6.10 0.16 31.5 North Diablo

220.98 224.03 3.05 0.09 55.1 North Diablo

SO‐C‐21‐074 263.65 277.37 13.72 0.47 233.0 North Diablo

Includes 274.32 277.37 3.05 1.16 546.0 North Diablo

277.37 288.04 10.67 0.18 50.5 North Diablo

SO‐C‐21‐075 234.70 239.27 4.57 0.09 24.0 North Diablo

251.46 252.98 1.52 0.18 90.9 North Diablo

SO‐C‐21‐076 ‐ ‐ No significant assayGeorgine

SO‐C‐21‐077 201.17 213.36 12.19 Assays Pending North Diablo

SO‐C‐21‐078 184.40 192.02 7.62 Assays Pending North Diablo

SO‐C‐21‐079 312.42 320.04 7.62 0.74 273.0 North Diablo

Includes 315.47 318.52 3.05 1.47 476.5 North Diablo

416.05 420.62 4.57 0.62 266.3 North Diablo

Includes 417.58 419.10 1.52 1.22 474.0 North Diablo

SO‐C‐21‐085 70.10 79.25 9.14 0.19 45.0 West rim Diablo

79.25 92.96 13.72 0.53 205.6 West rim Diablo

92.96 97.54 4.57 0.20 45.2 West rim Diablo

Drill hole

All widths in the above table are estimated true widths or near true widths (90% or over), with exception of

drill hole 85 which is approximately 72% of the intercepted interval. Coordinates and other identification

data for drill holes are presented in Table 2 below.

Fig 1. Drill hole intercepts from the 2020‐2021 Silver One’s diamond and RC Drilling.

The company’s first phase of reverse circulation drilling program was completed on March 27, 2021 having

drilled approximately 15,000 meters in 52 holes. All samples are in the lab now with 27 holes awaiting

assays.

Table 2. Coordinates (UTM83‐11) and other identification data.

DRILL HOLE ID East_m North_m

Elevation

(m)

Azimuth

Deg

Dip

Deg

Total Depth

(m)

SO‐C‐20‐067 405626 4223607 1864.0 224 ‐75 464.83

SO‐C‐20‐068 405055 4223115 1821.6 0 ‐90 152.4

SO‐C‐20‐069 405674 4223482 1883.6 0 ‐90 487.69

SO‐C‐20‐070 405382 4223328 1857.2 314 ‐80 300.23

SO‐C‐20‐071 405348 4223295 1856.9 314 ‐70 184.41 Abandoned *

SO‐C‐20‐072 405688 4223629 1864.5 0 ‐90 74.68 Abandoned *

SO‐C‐21‐071A 405345 4223298 1857.0 314 ‐70 286.52

SO‐C‐21‐072A 405688 4223626 1864.6 0 ‐90 560.84

SO‐C‐21‐073 405333 4223247 1856.9 314 ‐85 234.7

SO‐C‐21‐074 405668 4223320 1869.9 0 ‐90 312.42

SO‐C‐21‐075 405652 4223290 1868.3 0 ‐90 265.18

SO‐C‐21‐076 403310 4223652 1835.3 180 ‐85 480.07

SO‐C‐21‐077 405332 4223248 1856.9 314 ‐65 295.66

SO‐C‐21‐078 405311 4223229 1857.1 314 ‐65 233.17

SO‐C‐21‐079 405737 4223513 1882.7 224 ‐75 426.73

SO‐C‐21‐080 403702 4223883 1779.9 180 ‐55 487.69

SO‐C‐21‐081 403608 4224186 1792.3 0 ‐90 989.88

SO‐C‐21‐082 405176 4223361 1804.1 134 ‐80 172.21

SO‐C‐21‐083 404915 4222908 1851.6 0 ‐90 121.92

SO‐C‐21‐084 405099 4223002 1837.2 0 ‐90 97.54

SO‐C‐21‐084A 405099 4222999 1837.1 0 ‐90 129.54

SO‐C‐21‐085 405022 4223002 1813.3 0 ‐90 109.73

SO‐C‐21‐086 405005 4222929 1806.5 0 ‐90 79.25

SO‐C‐21‐087 404940 4222982 1842.4 0 ‐90 129.54

SO‐C‐21‐088 405501 4222605 1885.5 0 ‐65 179.83

SO‐C‐21‐089 405350 4222568 1913.8 0 ‐65 164.59

SO‐C‐21‐090 405213 4223588 1783.2 224 ‐70 198.12

SO‐C‐21‐091 405205 4223615 1782.3 224 ‐85 196.6

SO‐C‐21‐092 405228 4223553 1784.8 44 ‐70 210.31

SO‐C‐21‐093 405897 4222866 1846.7 270 ‐80 240.79

SO‐C‐21‐094 404656 4223005 1900.9 0 ‐90 123.45

SO‐C‐21‐095 404363 4223040 1870.2 0 ‐80 643.14

SO‐C‐21‐096 404696 4223028 1900.7 0 ‐90 220.98

SO‐C‐21‐097 404752 4222917 1886.3 0 ‐90 152.4

SO‐C‐21‐098 405029 4223046 1817.4 0 ‐90 166.12

SO‐C‐21‐099 405404 4223522 1861.8 180 ‐80 367.29

SO‐C‐21‐100 407101 4223050 1781.9 0 ‐90 225.55

* Abandoned (incomplete hole)

Drill hole 81 was drilled with RC to a depth of 696 meters, followed by 292 meters of core drilling due to the

excess or ground water that impeded the continuation of RC drilling.

QA/QC

The QA/QC program included the submission of Certified Reference Materials, blanks, core duplicates, as well

as the insertion of crushed duplicates and pulp duplicates at random intervals. Certified Standards were

inserted at a rate of one standard for every 20 samples (5% of total) and one blank for every 20 samples (5%

of total). Core, pulp and crush duplicates combined were inserted at a rate of one duplicate per every 20

samples (5% of total). The standards used in Candelaria’s drilling program range in grade from 5.88 g/t Ag to

493.0 g/t Ag, and were sourced from Analytical Solutions, Ltd., in Mulmur, ON, Canada and from OREAS,

Bayswater North, VIC, Australia. Blanks have been sourced locally from barren silica. Field core duplicates

were obtained via a 1/8th split of RC cuttings or from quartered core, crush and 'pulp' duplicates were taken

from coarse reject material or pulverized splits, respectively.

Samples were assayed by American Assay Laboratories (“AAL” in Sparks, NV, USA. (IAS accredited Laboratory,

ISO/IEC 17025:2005. AAL also inserts blanks, standards and includes duplicate analyses to ensure proper

sample preparation and equipment calibration.

Qualified Person

The technical content of this news release has been reviewed and approved by Greg Crowe, P. Geo, President

and CEO of Silver One, and a Qualified Person as defined by National Instrument 43‐101.

About Silver One

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

option to acquire 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 the two

past‐producing open pits.

The Company has staked 636 lode claims and entered into a Lease/Purchase Agreement to acquire 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 holds an option to acquire 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: gary@strata‐star.com

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

history, 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED

IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR

ACCURACY OF THIS RELEASE.

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