Silver Tiger Metals Inc. provided an update on the Company's ongoing Pre-Feasibility Study drilling program on the Stockwork gold deposit on its El Tigre Project in Sonora, Mexico. Silver Tiger has completed 22,000 metres of a 25,000 metre drilling program focused on expanding the Mineral Resource, up-grading the classification, completing metallurgical testwork and geotechnical studies as it progresses from an exploration to a development project. The value-added PFS progress is on schedule for publication in H2-2024.

Three main areas of the Stockwork mineralization are being targeted and show potential for expansion: a) the footwall, b) the hanging wall and c) bottom ?keel'. After releasing the first 40 drill holes of the program, the Company announced conversion, expansion and derisking of the potential ?Starter Stockwork Zone' P&E Mining Consultants Inc. of Brampton, Ontario completed the initial MRE in 2017. On Oct.

27, 2023, P&E released an updated El Tigre Project NI 43-101 and NI 43-01 F1 compliant MRE technical report titled "Technical Report and Updated Mineral Resource Estimate of the El Tigre Silver-Gold Project, Sonora, Mexico" authored by William Stone, Ph.D., P.Geo.,Yungang Wu, P.Geo., Fred H. Brown, P.Geo., Jarita Barry, P.Geo., David Burga, P.Geo., D. Grant Feasby, P.Eng., Eugene Puritch, P.Eng., FEC, CET and David Salari, P.Eng. The MRE has a pit-constrained Indicated Mineral Resource totaling 43.0 million tonnes containing 818,000 ounces AuEq grading 0.59 g/t AuEq; and a pit-constrained Inferred Mineral Resource of 11.5 million tonnes containing 267,000 ounces AuEq grading 0.72 g/t AuEq. PEA-level bench optimization of the pit-constrained Mineral Resource highlighted the higher-grade (0.80 gpt AuEq), low strip ratio (0.3) potential Starter Stockwork Zone which contains 5.7 million tonnes of mineralized material.

Recommendations of the PEA-level study included increasing Mineral Resource confidence in potential ?Starter Stockwork Zone' and additional exploratory drilling to target the 1) footwall, 2) hanging wall and 3) ?keel' areas of the Stockwork Zone. P&E were again retained to lead the current El Tigre PFS-level study with 21,000 metres of the program complete.