Candelaria Project Intersections Confirming Prior Results

VANCOUVER - Silver One Resources Inc. reported initial results from its ongoing reverse circulation (“RC”) drilling program on its past-producing Candelaria Silver Project in Nevada.   To date 9,381 meters of the 15,000-meter proposed program have been drilled in 30 holes.  Twenty-five holes were successfully finished, including repeats of five incomplete holes that were abandoned due to technical drilling problems before reaching the target.  The holes drilled and the assays of 13 holes received have expanded the down-dip mineralization an additional 250 meters to the north at Mount Diablo and an additional 100 meters to the north-northeast of the Northern Belle pit.  Drilling is continuing with the goal of confirming areas of additional mineralization and to acquire material for ongoing metallurgical studies.

Highlights include: 1,032 g/t Ag and 1.51 g/t Au over 3.05 meters within a 12.2 meter zone averaging 407 g/t Ag and 0.55 g/t Au in drill hole SO-C-20-59; and 407 g/t Ag and 0.5 g/t Au over 6.1 meters within a 9.1 meter zone averaging 295 g/t Ag and 0.4 g/t Au in drill hole SO-C-20-60.

President and CEO, Greg Crowe, said, “Drilling is progressing, and results received to date continue to expand the area of down-dip mineralization to the north of both the Mt. Diablo and Northern Belle pits.  The assays of holes 59 and 60 north of Mount Diablo pit, illustrate that higher-grade mineralization persists down dip north of and beyond the historic resource area.  The mineralization is also beginning to form coherent clusters that could potentially define mineralized bodies that may be accessible by either an expansion of the open pit or by underground methods.  These results are also confirming the 2020 diamond drill results reported previously.  One of the diamond drill holes reported an 8-meter interval of 1,129 gm/t silver and 1.33 gm/t gold within a 27.6-meter interval averaging 350 gm/t silver and 0.45 gm/t gold in hole SO-C-19-47. The next round of holes will focus on testing the continuity of the open pit mineralization along-strike at Mount Diablo, as well as potential for IOCG/skarn targets identified in dump samples outside an historic adit near to the Georgine Pit.  Geophysics (airborne magnetics and ground IP) have been useful in selecting drill targets.  Additionally, samples collected from holes within the limits of the historic Diablo pit will be used for metallurgical testing and to evaluate the potential for future pit expansion.”