Candelabra Project Reverse Circulation Program Examining Extensions

VANCOUVER - Silver One Resources Inc. reported on the reverse circulation (RC) 7,500-meter (m) drilling program recently completed at its Candelaria project, Nevada.  The objectives of the program, which included examining the extensions to silver-oxide mineralization adjacent to the past producing open pits and filling in between step-out holes drilled in 2021, were all successfully achieved.

Since November 2018, the Company has drilled over 25,000 meters in 131 holes, including RC, core, and sonic holes. The recent 36-hole, 7,500 m drilling program tested the extensions to the silver-oxide mineralization to the east of the Mt. Diablo pit, down-dip from the Mt. Diablo and Northern Belle open pits and filled-in areas of silver mineralization between step-out holes drilled in 2021 west of the Mt. Diablo open pit.

Assays include: 1,339 grams/tonne ("g/t") Ag and 1.22 g/t Au over 10.67 m from 68.58 m, within a broad interval of 48.77 m @ 332 g/t Ag and 0.39 g/t Au from 60.96 m in hole SO-C-22-119B (in-fill hole west of Mt. Diablo pit); 501.5 g/t Ag and 0.76 g/t Au over 3.05 m from 263.65 m within a 22.86 m zone @ 0.29 g/t Au and 142 g/t Ag from 252.98 m in hole SO-C-22-106A (Mt. Diablo eastern extension); 518.5 g/t Ag and 0.85 g/t Au over 3.05 m from 284.99 m within a 16.76 m zone @ 0.48 g/t Au and 252 g/t Ag from 281.94 m in hole SO-C-22-125 (Mt. Diablo down-dip extension); and 777 g/t Ag and 1.38 g/t Au over 3.05 m from 289.56 within a 15.24 m zone @ 0.33 g/t Au and 182 g/t Ag from 281.94 m in hole SO-C-22-130 (Northern Belle pit down-dip extension).

Drilling results indicate the extension of the mineralization 400 m west (to drill hole SO-C-21-96) and 450 m east of the Mount Diablo pit (to drill hole SO-C-22-115). The mineralization remains open along strike in both directions as well as down-dip from both Mt. Diablo and Northern Belle pits. The  Candelaria mineralization is now known to extend nearly 2 km along strike and 1 km in the down-dip direction and remains open in all directions.

President and CEO, Greg Crowe, said, ”We are very encouraged by the positive results from the assays of our recent round of reverse circulation drilling.  Holes drilled confirmed continuity of the mineralization down-dip and along-strike to the east and west of the past producing Mt. Diablo pit,  where drilling indicates that silver and gold grades exceed historical average grades mined by open pit.  This bodes well for the possibility to expand the known mineralization and the potential for both open-pit and underground mining.  The mineralization defined to-date is still open both along strike and down dip from both Mt. Diablo and Northern Belle pits and further exploration is highly warranted".