VANCOUVER - Reyna Silver Corp. (TSXV: RSLV) (OTCQX: RSNVF)(FRA:4ZC) ('Reyna'' or the 'Company') is pleased to report high-grade intercepts in 3 out of 4 holes in the 1,335 metre 2023 Drilling Campaign at its 6,561 hectare Medicine Springs Project in Elko Co., Nevada.

Combined with the results from the 2022 drilling program, strong silver and zinc mineralization has been found in 7 out of 9 sub-parallel structures cutting through an area 660 m wide and 1.75 km long. All the structures show multiple stages of high-grade mineralization surrounded by wide zones of dispersed mineralization. The structures continue in both directions well beyond the initial drilling area and many additional structures along and adjacent to the corridor remain to be tested.

Importantly, a Magneto-Telluric (MT) geophysical survey and detailed structural analysis were also completed this summer, and the combined results indicate that the mineralized corridor trends towards an anomaly that coincides with the strongest copper values encountered to date. This may indicate the location of the system's intrusive center where mineralization is potentially extensive.

These results reinforce Medicine Springs as a prime candidate for a large-scale, well-mineralized CRD System and the technical team is incorporating all these new results into a refined district model for drilling next season.

Highlights

High-grade Silver cut in three holes.

MS23-008 within 44 metres of dispersed mineralization cut several high-grade veins, the best of which was 1.32 metres grading 330 g/t Silver, 11.9% Zinc and 3.4% Lead.

MS23-007 within 56 metres of disseminated mineralization cut by several high-grade veins, the best of which was 1.54 metres grading 304 g/t Silver, 3.5% Zinc and 2.1% Lead.

MS23-006 cut 2.35 metres of 217 g/t Silver.

'Medicine Springs continues to display its potential for the kind of large, high-grade deposit that generates significant market value,' said Jorge Ramiro Monroy, CEO and President of Reyna Silver. 'We hope to duplicate the success of our district reappraisal at Batopilas by combining the new geophysics and this summer's detailed structural study with the 75% high-grade hit rate we're hitting in nearly every structure to move us towards a major discovery.'

Geophysics

A property-wide Magneto-Telluric (MT) geophysical survey was completed and interpreted during the summer and fall. MT is useful for revealing high and low-angle discontinuities, and the NE-SW trend of the mineralized corridor appears to be well displayed in the results. The survey also reveals conductive anomalies that may reflect mineralized skarn bodies surrounding the style of intrusion that typically lies at the heart of CRD systems or the intrusion itself. The high conductivities coincide with elevated Copper grades in the overlying jasperoids - a possible indicator of proximity to an intrusive source - representing highly prospective drill targets.

The structural study shows continuity from the high-grade Reconnaissance Drilling corridor to the MT anomalies over 2 kilometers away. Mineralization in CRD systems is characteristically continuous from the source outward along structures active at the time of deposition. Therefore, identifying the direction of ore fluid migration allows vectoring along the mineralized corridor toward more extensive proximal mineralization.

QA/QC STATEMENT

Reyna Silver follows industry standard procedures for diamond core drilling and sample analysis. Drilling is carried out using PQ through NQ size tooling. The drill core is cut in half using a diamond rock saw, with one-half of the core then taken as a sample for analysis and the other kept as a register. Sample intervals are generally from 0.2 to 2 m intervals, producing samples of between 0.2 to 11 kg. Half-core samples are delivered to the internationally certified ALS Minerals laboratory facilities in the certified ALS Global facility in Elko, Nevada where the samples are prepared. ALS has a Quality management system (ISO 17025), and Assays are completed by ALS Minerals in Canada. Pulps were analyzed for precious, base-metals, and multi-elements using method code ME-MS41 following an aqua regia digestion. Overlimits are analyzed using an appropriate method. Multi-element geochemical standards and blanks or duplicates are inserted systematically into the drill core sampling series to monitor lab performance. Overlimit values for Ag, Pb, and Zn were analyzed using method codes Ag-OG46, Pb-OG46, and Zn-OG46. Multi-element geochemical standards and blanks or duplicates are inserted systematically into the drill core sampling series to monitor lab performance.

ABOUT REYNA SILVER

Reyna Silver Corp. (TSXV: RSLV) is a growth-oriented junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and USA.

Reyna's principal properties are the Guigui and Batopilas Properties in Chihuahua, Mexico, plus Medicine Springs and Gryphon Summit in Nevada, USA. Guigui covers the interpreted source area for the Santa Eulalia District, and Batopilas covers most of Mexico's historically highest-grade silver system. The Company also has an option to acquire 100% of the Medicine Springs CRD project in Elko Co., Nevada, USA, and the 10,300-hectare combined Carlin-style and CRD Gryphon Summit Project in Eureka Co., Nevada, USA, as well as several early-stage properties in Mexico.

Cautionary Statements

This document contains 'forward-looking statements' within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration results and plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, our estimates of exploration investment, the scope of our exploration programs, and our expectations of ongoing administrative costs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change, except as required by law. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are cautioned not to place undue reliance on forward-looking statements.

Contact:

Email: jorge@reynasilver.com

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