Nevada Silver Corporation provided a final update on assay results from the 2021 diamond drill program at its 100% owned Corcoran Silver-Gold project ("Corcoran" or the "Project") in Nevada, USA. The results are from completed
assay data in NSC's recent 3,040-meter diamond drilling program at the outcropping epithermal Corcoran
Silver-Gold deposit located 80 miles north of Tonapah in southern Nevada. NSC has received analytical results from the last diamond (HQ) drill holes (CC21-08, 09, 10, 11, 12, 15 and 16) of the company's maiden drill campaign. Highlights of assay data for these holes include: CC21-08- 1.35 meters from 20.12 meters @ 409g/t AgEq (395g/t Ag, 0.18g/t Au). CC21-10- 26.32 meters from 62.00 meters @ 56g/t AgEq (38g/t Ag, 0.25g/t Au). 44.04 meters from 94.64 meters @ 46g/t AgEq (25g/t Ag, 0.28g/t Au). CC21-11- 14.23 meters from 125.27 meters @ 73g/t AgEq (50g/t Ag, 0.30g/t Au). CC21-12- 1.58 meters from 186.42 meters @ 521g/t AgEq (516g/t Ag, 0.06g/t Au). CC21-15- 12.15 meters from 194.55 meters @ 99g/t AgEq (63g/t Ag, 0.48g/t Au). Mineralized intervals from many of the holes have been reported as data is returned from the laboratory CC21-01 (10th November 2021); CC21-04 and CC21-05 (14th December 2021); CC21-02, CC21-03, CC21-13, CC21-14 and CC21-17 (12th January 2022); CC21-06 and CC21-07 (18th January). The data from the reported holes in this announcement (CC21-8 to 12, 15, and 16) are new results and comprise the final assay results in the 2021 program. CC21-08 is a vertical hole located near the southern end of the resource to 116.9 meters total depth. Most of the top 90 meters of this hole intersected mineralization including near-surface intersections ranging up to 395g/t silver. A shallow twin hole (CC21-08B) was completed to 20.1 meters to provide additional data for the poor sample recovery in the top few meters of CC21-08. Assays for CC21-08B confirmed surface mineralization (18.0 meters from surface of 45g/t AgEq). CC21-09 is the southernmost drill hole completed in this program. No significantly anomalous silver and gold were returned and the mineralization intersected in CC21-08 appears to be offset to the southeast. Drill testing for a continuation of mineralization to the northwest of CC21-08 is planned in 2022. CC21-10 is the most northern hole drilled during this program. Mineralization was most prominent in the lower half of the hole (26.32 meters from 62.00 meters of 56g/t AgEq and 44.04 meters from 94.64 meters to the bottom of the hole of 46g/t AgEq). NSC considers that there is considerable potential for mineralization with similar thickness and grade to continue to the north of CC21-10 and step-out drilling in this area is planned in 2022. CC21-11 was completed near the centre of the drill area and intersected wide zones of appreciable silver and gold grades throughout the hole. CC21-12 was drilled to test the south east portion of the deposit and the 1.58 meters of 516g/t Ag from 186.42 meters may represent a feeder zone in this area. Deeper drill testing in 2022 is planned to test this target. CC21-15 is located in the north west of the drill area and was drilled to 254.5 meters towards grid east (135O) at a dip of -70 degrees. The thick intersections of silver-gold mineralization intersected throughout CC21-15 total 167 meters and include: 45.32 meters from 54.86 meters @ 31g/t AgEq, 45.43 meters from 108.49 meters @ 43g/t AgEq, 53.92 meters from 162.04 meters @ 44g/t AgEq, 18.69 meters from 235.81 meters to the end of the hole @ 60g/t AgEq. The CC21-15 intersections show that the deposit is open to the north and northwest where it appears to dip to the west. Step-out drilling to test this extension is planned in 2022. CC21-16 was angled at -70 degrees towards 270o to test for silver located along north-south oriented structure near the southern extent of the mineralization. No high-grade intersections were located although weak Ag-Au mineralization was intersected between 78.81-104.25 meters and this interval is likely to represent the southeast limit of the mineralization in this part of the deposit. Northwest from CC21-16 the mineralization has a northwest dip and drill targets of potential extensions will be targeted both to the west and at depth in planned 2022 drilling.