Candelaria Project Current Estimate Exceeds Historic Resource

VANCOUVER - Silver One Resources Inc. reported the completion of a NI 43-101 mineral resource estimate (MRE) for its Candelaria Project, located in Nevada.  The mineral resource estimate includes the in-ground mineralization and stockpiles adjacent to the historic Mount Diablo and Northern Belle pits. The MRE was prepared in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards and Canadian National Instrument (NI 43-101").

Mount Diablo and Northern Belle pit-constrained resources: 1) Measured and Indicated (M&I) resource of 22,070,000 tonnes averaging 94 g/t Ag and 0.20 g/t Au, for 66.754 million ounces of silver and 141,400 ounces of gold, or 70.836 million ounces of silver equivalent (AgEq). 2) Inferred resource of 2,960,000 tonnes averaging 68 g/t Ag and 0.18 g/t Au, for 6.462 million ounces of silver and 17,000 ounces of gold (7.00 million oz AgEq).

Underground Measured and Indicated resource of 1,200,000 tonnes averaging 168 g/t Ag and 0.27 g/t Au, for 6.45 million ounces of silver and 10,200 ounces of gold (7.150 million oz AgEq). Underground Inferred resource of 650,000 tonnes averaging 150 g/t Ag and 0.24 g/t Au, for 3.136 million ounces of silver and 5,100 ounces of gold (3.490 million oz AgEq).

Candelaria's project resources (from open-pit, underground, stockpiles and leach pads) now total 108.82 million ounces of silver equivalent in the Measured and Indicated categories, and 29.81 million ounces of silver equivalent Inferred.

Greg Crowe, President and CEO, said, "This updated mineral resource is based on results from extensive reverse circulation and core drilling programs and metallurgical studies completed by Silver One.  It also includes historic drill hole information from previous operators.  We are very pleased with the results. At this phase, the majority of the resource has been upgraded to a Measured and Indicated category. The current resource estimate  exceeds the historic resource, which is encouraging as the current resource is pit-constrained and of higher confidence than historic estimates, plus the mineralization remains open in all directions.  Additionally, the company's efforts of testing a novel non-cyanide recovery process have yielded excellent results and have demonstrated the capacity to increase silver and gold recoveries, while potentially lowering process costs. The Company plans to resume drilling late in the year to continue expanding the in-ground mineralization, both in the near-surface mineralization and the higher-grade underground targets.  Metallurgical testing of the new non-cyanide technology will continue to  further examine the optimization of  silver and gold recoveries.  Silver One is undertaking a PEA study to compare the recoveries and costs of using cyanide versus these new non-cyanide solutions.  It is also examining a pilot heap-leach test to investigate field silver and gold recoveries."