Nevada Silver Corporation Provides Emily Manganese Project Funding Update

TorontoNevada Silver Society (TSXV: NSC) (OTCQB: NVDSF) (“NSC” or the “Company”), following its press release March 24, 2022is pleased to provide an update on its plans to sell shares of its wholly-owned indirectly subsidiary UNITED STATES subsidiary company, North Star Manganese Inc (“NSM”).

As previously announced, NSM intends to issue approximately 3,000,000 common shares of NSM at a price of $0.25 per share for proceeds of approximately $750,000 (the “NSM Funding”). NSM Financing follows the split of its outstanding securities on the basis of 2.3483 new shares for each share currently outstanding. As a result, NSM’s outstanding shares decreased from 12,775,000 shares to 30,000,000 shares. It is expected that upon completion of the NSM Financing, there will be approximately 33,000,000 shares of NSM common stock outstanding. If completed, the Company’s indirect ownership in NSM will be reduced to approximately 90.9%. NSM funding is subject to receipt of final approval from the TSX Venture Exchange before closing. Proceeds from the NSM financing will be used to advance engineering studies for the Emily Manganese Project and for general working capital. No commissions or similar fees should be paid in connection with the NSM Funding. Closing of NSM funding is expected to occur before the end of August 2022. Further updates will be provided regarding NSM funding as they occur.

NSM holds the Emily Manganese Project in Minnesota, United States (the “Emily Manganese Project”). The company focuses on its Corcoran Silver-Gold Project in Nevada, United Statesand do not consider the Emily Manganese Project be important to its operations. As announced on December 21, 2021the Company is studying its options with respect to the financing, development and commercialization of the Emily Manganese Project and how best to advance it (any such transaction, a “value realization transaction”). Any value realization transaction will be subject to the receipt of all necessary corporate, securities, shareholder and regulatory approvals, including the approval of the TSX Venture Exchange. There can be no assurance that a Value Realization Transaction will be completed, whether on the terms described or at all.

About Nevada Silver Society

Nevada Silver Society (TSXV: NSC) (OTCQB: NVDSF) is a multi-product resource company with two exploration projects in the UNITED STATES. The main asset of NSC is the Corcoran Silver-Gold Project in Nevada. In addition, NSC has management and ownership rights to the Emily Manganese Project in Minnesotawhich has been the subject of major technical studies, with $24 million invested to date. Corcoran and Emily have been subject to NI 43-101 compliant mineral resource estimates.

This announcement does not constitute an offer of securities for sale in United Statesand no security mentioned herein may be offered or sold in United States the absence of registration or an exemption from registration provided for in the WE Securities Act of 1933 as amended (the “Securities Act”) and the rules and regulations made thereunder. The securities referred to herein have not been registered under the Securities Act and it is not intended to register any of the securities in United States or to make a public offer of securities United States.


Gary Lewis

Tel: +1 (657) 846 5299

Email: [email protected]

Forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws, including forward-looking statements in connection with the NSM Funding and the Transaction. of realizing value. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement involving discussion of predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often, but not always, using phrases such as “expects “, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budgets”, “expects”, “expects”, “estimates”, “believes or “intends” or variations of these words and phrases or indicating that certain actions, events or results “may” or “could”, “might”, “might” or “will” be expected to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Nevada money be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in such forward-looking statements are described under “Risk Factors” in the Filing Statement dated April 20, 2021 which can be viewed under the Company’s profile at The forward-looking statements contained herein are made as of the date of this press release and Nevada money disclaims, except as required by law, any obligation to update forward-looking statements, whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or other. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Nevada money operations could be significantly affected by the effects of a generalized worldwide outbreak of a contagious disease, including the disease outbreak caused by COVID-19. It is not possible to accurately predict the impact that COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, severity of illness , the duration of the outbreak, and the duration of travel and quarantine restrictions imposed by governments of affected countries. In addition, a major outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to fund its operations. .

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