Zacatecas Silver Announces Increase in Silver Resource at Zacatecas Property

VANCOUVER, British Columbia, May 31, 2023 (GLOBE NEWSWIRE) -- Zacatecas Silver Corp. (“Zacatecas Silver” or the “Company”, ZAC:TSX Venture; ZCTSF: OTC Markets; 7TV: Frankfurt) is pleased to announce an increase to its Inferred silver Mineral Resource Estimate at the Panuco South and North Deposits within the Zacatecas Property. The Updated Mineral Resource Estimate was prepared by P&E Mining Consultants Inc. (“P&E”) for Zacatecas Silver. P&E prepared the initial Inferred Mineral Resource Estimate that was a disclosed in the Technical Report dated January 28, 2022 titled “Independent NI 43-101 Technical Report, Zacatecas Properties, Zacatecas State, Mexico,” filed on SEDAR on January 28, 2022.

Highlights:

• Updated silver Inferred Mineral Resource now consists of:
  • Panuco South Deposit Inferred Mineral Resource of 3.04 million tonnes at 179 g/t AgEq for 17.5 million ounces AgEq.
  • Panuco North Deposit Inferred Mineral Resource of 0.37 million tonnes at 255 g/t AgEq for 3.0 million ounces AgEq

• Silver Inferred Mineral Resources have increased by 25% compared to previous MRE completed in December 2021.
• Zacatecas plans to restart drilling at El Cristo vein system with a goal of increasing silver resources at the Zacatecas Properties.
  

Dr. Christopher Wilson, Chief Operating Officer and director of Zacatecas Silver comments, “The most recent drilling carried out, with assay results previously released, was a focused drill program intercepting numerous strong silver grades near surface and at depth. The along strike and down dip extensions of Panuco South and Panuco North remain open to depth and continue to represent excellent targets for further near-surface and deep drilling.”

The Panuco South and North underground Mineral Resource Estimate now consists of 3.41 million tonnes at 187 g/t AgEq (173 g/t Ag and 0.18 g/t Au) for 20.5 million ounces AgEq (19.0 million ounces silver and 19.2 thousand ounces gold) that is comprised of the following:

Table 1: Panuco South and North Underground Inferred Mineral Resource Estimate Summary ^(1-8)

Resource Area	Tonnes (Mt)	Ag (g/t)	Au (g/t)	Ag (Moz)	Au (koz)	AgEq (g/t)	AgEq (Moz)
Panuco South	3.04	236	0.24	2.8	2.7	255	3.0
Panuco North	0.37	166	0.17	16.2	16.4	179	17.5
Total	3.41	173	0.18	19.0	19.2	187	20.5