Tier One Identifies Drill Targets at Curibaya

VANCOUVER, BC / ACCESSWIRE / June 7, 2023 / Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) ("Tier One" or the "Company") is pleased to provide an update for its second phase of drilling at it's 100% owned Curibaya project, located in southern Peru. The Curibaya project consists of approximately 17,000 hectares and is situated in one of the most prolific porphyry mining trends globally, which is host to major mines such as Cerro Verde, Quellaveco and Toquepala. The Company has identified locations for 20 drill pads at Curibaya that would test several new targets as well as expand on intercepts from the inaugural drill program in 2021, which included 1.5 metres (m) of 1,129 g/t silver (Ag) and 1.04 g/t gold (Au) in a larger interval of 7 m of 272 g/t Ag and 0.33 g/t Au and 1 m of 1,431 g/t Ag and 0.39 g/t Au within a broader interval of 1.5 m of 965 g/t Ag and 0.26 g/t Au.

In the coming weeks, the Company will be resuming exploration work on additional adjacent potential porphyry targets within the project area and will continue its preparations for a second phase of drilling. The Company's second drill campaign is expected to consist of 2,000 m of drilling from five of the 20 drill pads and would focus on the preferred precious metal zonation at the Cambaya target area. The objective of the program is to test the epithermal veins and structures in the upper part of the system, with higher elevation and less erosion, where the Company has received the best silver - gold surface results to date.

A Message from Peter Dembicki, CEO & Director:

"The work completed over the last 14 months has proven to be extremely informative, and provided us with our most intriguing silver targets to date, located within the Cambaya corridor. These silver prospects are located within what we believe is the preferred precious metal zonation of the system where less erosion has occurred. We are excited with the results of our sampling, mapping and targeting programs and look forward to our next phase of exploration and drilling at Curibaya."

A Message from Christian Rios, SVP, Exploration:

"After a successful first phase of drilling at Curibaya, that returned several high-grade intercepts on a project that had never been drilled before, we are very excited to test our best targets on the project in the upper parts of the system. The inaugural drill program returned an intercept of 1.5 m of 1,129 g/t silver in hole 16 at an elevation of 1,900 m, which we believe opens up a range of opportunities at elevations of 2,200 m - 2,300 m, which is our focus for the next phase."