Intersection At Corcoran Silver-Gold Project, Nevada, USA

TORONTO - Nevada Silver Corporation (NSC) reported on assay results from the 2021 diamond drill program at its 100% owned Corcoran Silver-Gold project in Nevada. NSC has received analytical results from five additional diamond (HQ) drill holes (CC21-17, CC21-02, CC21-03, CC21-13, and CC21-14) of the company's maiden drill campaign.

The results are from finalized assay data in NSC's recently completed 3,040-meter drilling program at the outcropping epithermal Corcoran Silver-Gold deposit located 80 miles north of Tonapah in southern Nevada. Mineralized intervals from holes CC21-01, CC21-04 and CC21-05 were recently reported.

The collar of vertical drill hole CC21-02 is located midway between CC21-01 and CC21-05. The hole intersected a high-grade mineralized structural zone between 114.4-116.5 meters (832g/t AgEq) within a wide interval of lower-grade mineralization (26.6 meters of 94g/t AgEq). The CC21-02 intersections confirm the thick mineralized zone reported by a previous explorer in CC57 and extend the anomalous silver zone in CC21-04 (142.15 meters of 42g/t AgEq) to the southeast where drilling planned in 2022 will test for depth extensions.

CC21-03 is located 80 meters south of CC21-01. This vertical hole intersected a thick interval of lower-grade gold-silver mineralization from near surface almost to the bottom of the hole which was completed to 75.74 meters. CC21-13 was drilled at 70 degrees towards the southeast and the near-surface lower-grade mineralization in this hole is consistent with northwest dipping mineralization. Drill hole location map of the Corcoran Ag-Au deposit showing completed NSC drill holes.

Both CC21-14 and CC21-17 were collared on the northern slopes of Sliver Reef Hill and drilled towards the southeast. Both holes intersected wide zones of silver-gold mineralization (61.32 meters of combined intervals of mineralization in CC-21-14 and 74.73 meters in CC21-17). These intercepts are interpreted as the approximate true thickness. They also show that near-surface mineralization extending to the northwest was not recorded by previous explorers and this target area will be tested by planned drilling in 2022.

A bonanza-grade silver interval of 3470g/t silver and 0.96g/t gold in CC21-17 (between 117.41 meters and 118.55 meters) is the highest-grade silver result received to date for the 2021 drilling program. The drill core assay results confirm the lateral extent of the deposit for more than 350 meters (SW-NE) and the mineralization trend remains open to the north and south as well as at depth. Assay results for the remaining nine holes of the 2021 drill program are expected during coming weeks and will be reported after they are received.

CEO, Gary Lewis, said, "All holes cut thick zones of near-surface silver and gold and have confirmed the continuity of mineralization over a trend extending for many hundreds of meters. The exceptional high silver grades in both CC21-02 and CC21-17 indicate widespread high values of silver with appreciable gold, relatively close to the surface. As geochemical results from the remaining holes are returned from the laboratory, we will have a much better idea of the orientation and continuity of structures which appear to host these bonanza grades."