Tier One Silver Commences Work at Curibaya and Hurricane Projects in Peru

Tier One Silver Commences Work at Curibaya and Hurricane Projects in

Peru

Vancouver, Canada – June 27, 2022 – Tier One Silver Inc. (TSXV: TSLV, OTCQB: TSLVF) (“Tier One”

or the “ Company”) is pleased to announce that it has restarted exploration work at the Curibaya

project in southern Peru and at the Hurricane project, located approximately 65 kilometres (km)

north of the city of Cusco (Figure 1).

The Company is advancing Curibaya toward its second phase of drilling, which is expected to consist

of approximately 2,000 – 4,000 metres (m), with pre-drilling surface work focusing on the Cambaya

target. Highlights from the first drill program at the project included 1.5 m of 1,129 g/t silver (Ag),

1.04 g/t gold (Au) in a larger interval of 7 m of 272 g/t Ag, 0.33 g/t Au (Figure 2).

At the Hurricane project, the Company will be conducting geochemical and geophysical surveys at

the Magdalena target area, where five mineralized vein corridors were identified with recent

channel sampling results includ ing 6 m of 239 g/t Ag, 1.21% Cu, 0.34% Pb, 0.15% Zn and 1 m of

605 g/t Ag, 0.26% Cu, 5.79% Pb, 0.21% Zn (Figure 4). In addition, at the copper-nickel-platinum-

palladium-silver prospects at Hurricane , which includes Ñañohuayco, San Cipriano and Morro

Culispata, where social access was recently obtained, the Company plans to initiate surface work to

define potential drill targets in preparation for permitting (Figure 5).

Corporate Update:

The Company announces that Ivan Bebek is now the Chair of the Board of Directors and that former

Co-Chair, Shawn Wallace, has retired from the Board and moved into an advisor role.

A Message from Peter Dembicki, President, CEO and Director:

“Following the highly successful phase I drill program at Curibaya and early-stage channel sampling

at Hurricane, we’re excited to restart our exploration programs and advance the significant

potential at the identified targets.”

“This second phase of exploration is exciting as it gives us the opportunity to expand on our initial

findings and further define a mineralized system . Curibaya is located on one of the most prolific

mining trends in the world and Hurricane demonstrates exceptional grade and has been vastly

underexplored. Collectively, these projects offer grade, scale and a pipeline for potential world-class

discoveries.“

“In addition, on b ehalf of Tier One Silver, I would like to thank Shawn for his contributions, which

started prior to the inception of the Company and led us to where we are now . He has helped to

position Tier One for exploration success and will continue to work with us cl osely as an advisor

while assuming his new role as CEO of Torq Resources. I look forward to continuing to work with

Ivan in his role as Chair.”

Exploration Program – Curibaya:

The exploration program at Curibaya has two primary focuses: defining the geometry of identified

ore shoots to refine high -grade precious metals targets, and geophysical surveying to define

potential porphyry targets (Figure 3) . The Company plans to conduct mapping and sampling

programs across the identified structural corridors, particularly focusing on the Cambaya and

Sambalay structural corridors where the best drill hole and channel samples have been identified

to date (Figure 2) . At the Cambaya target area , additional induced polarization (IP) lines wil l be

conducted to further refine drill targets. In the area of the dome complex, controlled-source audio-

frequency magnetotellurics (CSAMT) will be conducted with the aim of further defining the copper

porphyry target that was previously identified through vein geochemistry.

Exploration Programs – Hurricane:

The exploration programs at the Hurricane project will focus on the silver prospects, Magdalena and

Pampayeoc, and the copper-nickel-platinum-palladium-silver prospects , Ñañohuayco, San Cipriano

and Morro Culispata. The Magdalena silver -base metal veins ar e hosted in four parallel shear zones

occurring over an area of 1.2 km by 800 m (Figure 4) . Based on the extensive soil cover at the

Magdalena target area, Tier One’s technical team believes that additional silver -base metal veins will

be found through geochemical soil surveys, channel sampling and additional surface mapping. The

Pampayeoc silver-base metal vein corridor is located 4.2 km west -northwest of the Magdalena target

veins and represents the fifth mineralized silver-base metal vein corridor identified to-date on this part

of the property. Mapping, sampling and geophysical surveying will also be conducted at the

Pampayeoc target.

At the copper-nickel-platinum-palladium prospects, mapping and sampling programs , as well as a

review of historical geophysical targets, will be conducted to follow up on the successful historical 10-

hole (1,061 m) program at Ñañohuayco, which included 14 m of 2.59% copper, 0.62% nickel, 311 g/t

cobalt, 0.3 g/t platinum and 0.55 g/t palladium (Figure 5). Importantly, at both the Ñañohuayco and

San Cipriano targets there are untested chargeability and conductivity anomalies that the Company’s

technical team believes have the potential to correspond to copper -nickel-platinum-palladium

magmatic sulphide style of mineralization . Tier One’s technical team aims to define exploration

polygons that will form the basis of a submission for a drill permit to the Peruvian authorities.

Figure 1: Illustrates the locations of the Curibaya and Hurricane projects in Peru.

Figure 2: Illustrates channel sampling and phase I drilling highlights from the Curibaya project.

Figure 3: Illustrates the conceptual porphyry target at the Curibaya project.

Figure 4: Illustrates highlights from the Company’s reconnaissance channel sampling program at the Magdalena silver

prospect.

Figure 5: Illustrates the historical ten-hole drill program at the Ñañohuayco prospect at Hurricane with highlighted

results.

Christian Rios (SVP of Exploration), P.Geo, is the Qualified Person who has reviewed and assumes

responsibility for the technical contents of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.

Peter Dembicki

President, CEO and Director

For further information on Tier One Silver Inc., please contact Natasha Frakes, Vice President of

Communications at (778) 729-0600 or [email protected].

About Tier One

Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery

of world-class silver, gold and base metal deposits in Peru. The Company’s management and technical teams have a strong

track record in raising capital, discovery and monetization of exploration success. The Company’s exploration assets in Peru

include: Curibaya, Hurricane Silver, Coastal Batholith and Corisur. For more information, visit www.tieronesilver.com.

Curibaya Drilling

Analytical samples were taken by sawing HQ or NQ diameter core into equal halves on site and sent one of the halves to

ALS Lab in Arequipa, Peru for preparation and then to Lima, Peru for analysis. All samples are assayed using 30 g nominal

weight fire assay with atomic absorption finish (Au-AA25) and multi-element four acid digest ICP-AES/ICP-MS method (ME-

MS61). Where MS61 results were greater or near 10,000 ppm Cu, 10,000 ppm Pb or 100 ppm Ag the assay were repeated

with ore grade four acid digest method (Cu, Pb, Ag-OG62). Where OG62 results were greater or near 1,500 ppm Ag the

assay were repeated with 30 g nominal weight fire assay with gravimetric finish (Ag-GRA21).

QA/QC programs for 2021 core samples using company and lab duplicates, standards and blanks indicate good accuracy

and precision in a large majority of standards assayed.

True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.

Channel Sampling - Curibaya

Analytical samples were taken from each 1-metre interval of channel floor resulting in approximately 2-3 kg of rock chips

material per sample. Collected samples were sent to ALS Lab in Arequipa, Peru for preparation and then to Lima, Peru

for analysis. All samples are assayed using 30 g nominal weight fire assay with atomic absorption finish (Au -AA25) and

multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where MS61 results were greater or near 10000 ppm

Cu, 10000 ppm Pb or 100 ppm Ag the assay were repeated with ore gra de four acid digest method (Cu, Pb, Ag -OG62).

Where OG62 results were greater or near 1500 ppm Ag the assay were repeated with 30 g nominal weight fire assay with

gravimetric finish (Ag -GRA21). QA/QC programs for 2021 channel samples using internal standar d and blank samples;

field and lab duplicates indicate good overall accuracy and precision.

Channel Sampling – Hurricane

Analytical samples were taken from each 1-metre interval of channel floor resulting in approximately 2-4 kg of rock chips

material per sample. Collected samples were sent to ALS Lab in Lima, Peru for preparation and analysis. All samples are

assayed for gold, platinum and palladium using 30 g nominal weight fire assay with ICP -AES finish method (PGM-ICP27)

and for multi -element using four acid digest ICP -AES/ICP-MS method (ME -MS61). Where MS61 results were greater or

near 10,000 ppm Cu, 10,000 ppm Pb, 10,000 ppm Zn or 100 ppm Ag the assays were repeated with ore grade four acid

digest method (Cu, Pb, Zn, Ag -OG62). QA/QC progra ms for 2021 channel samples at Hurricane using internal standard

and blank samples; field and lab duplicates indicate good overall accuracy and precision.

Cautionary Note Regarding Historical Drilling, Grab, Chip and Stream Sediment Samples and Related Matters:

Hurricane Historical Drilling (2010)

Historical drill samples were taken by sawing HQ diameter core into equal halves on site with one half being sent to ALS

lab in Arequipa, Peru for preparation and then to Lima, Peru for analysis. Preparation included crushing core samples to

70% < 2mm and pulverizing 250 g of crushed material by more than 85% < 75 microns. All samples were assayed using

30 g nominal weight fire assay with ICP-MS finish for gold, platinum and palladium (PGM-MS23). Where MS23 results were

> 1 g/t Au, Pt or Pd the assays were repeated with ore grade 30 g nominal weight fire assay with ICP -AES finish (PGM -

ICP27). Silver and base metals were analyzed as part of the multi-element aqua regia digest ICP-AES/ICP-MS method (ME-