Private Placement

SILVER GRAIL RESOURCES LTD.

2130 Crescent Road

Victoria, BC V8S 2H3

Phone: (778) 430-5680

Website: www.silvergrail.com

NEWS RELEASE

Private Placement

October 4, 2023 Victoria, Canada –– Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”-TSX-V) (“the

Company”) announces that it intends to complete a non-brokered private placement consisting of the

issuance of up to 3,000,000 units (“Units”) at a price of $0.10 per Unit for gross proceeds of up to $300,000

subject to the approval of the TSX Venture Exchange. Each Unit will consist of one common share

(“Common Share”) and a Common Share purchase warrant (“Warrant”). Each Warrant is exercisable into

one Common Share at a price of $0.15 for a period of two years from closing.

There are no finder’s fees or other commissions associated with the transaction. Certain of the Company’s

insiders may participate in the private placement. The proceeds of the financing will be used to advance

the Company’s many properties in the Golden Triangle Region of northwestern British Columbia as well as

its cobalt properties on Vancouver Island and east of Harrison Lake. A portion of the funds will be directed

to general working capital.

Respectfully submitted,

"Dino Cremonese, P .Eng."

Dino Cremonese, P . Eng.,

President and Chief Executive Officer

Silver Grail Resources Ltd

For further information, please visit the Company's website at www.silvergrail.com or contact:

Barry Holmes

Corporate Development and Communications

Tel. 778-430-5680

Email: [email protected]

Neither the 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.

Cautionary Statements regarding Forward-Looking information

Certain statements contained in this press release constitute forward-looking information. These statements relate

to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will",

"projected", "estimated" and similar expressions and statements relating to matters that are not historical facts

are intended to identify forward-looking information and are based on the Company's current belief or

assumptions as to the outcome and timing of such future events. Actual future results may differ materially.

All statements relating to future plans, objectives or expectations of the Company are forward-looking statements

that involve various risks and uncertainties. There can be no assurance that such statements will prove to be

accurate and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from the Company's plans or expectations

include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of

equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general

economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals

and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements

whether as a result of new information, future events or otherwise except as otherwise required by applicable

securities legislation.