Reyna Silver Amends Terms of Medicine Springs Option Agreement

VANCOUVER, BC and HONG KONG, CHINA / ACCESSWIRE / November 14, 2023 / Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) ("Reyna" or the "Company") is pleased to announce that it has reached an agreement to amend the terms of its option agreement dated August 20, 2017 (as previously amended, the "Option Agreement") with Messrs. Stephen Sutherland and Herb Duerr (collectively, the "Optionors"), pursuant to which Reyna has the option to acquire a 100% interest in the Optionors' Medicine Springs project located in Nevada, USA (the "Property"). The Option Agreement was initially entered into between the Optionors and Northern Lights Resources Corp. ("NLR"). Reyna acquired and assumed NLR's interest in and to the Option Agreement and the underlying Property pursuant to an option interest acquisition agreement dated December 14, 2022 (the "Acquisition Agreement"), between NLR and Reyna. Further details of the Acquisition Agreement are disclosed in the Company's new releases dated December 15, 2022 and January 5, 2023. The amendments to the Options Agreement were effected by an Amending Agreement dated November 10, 2023 between the Optionors and Reyna (the "Amending Agreement")

"We are pleased to announce that our option partners, Herb Duerr and Stephen Sutherland, agreed to amend the terms of the Medicine Springs option agreement so our cash resources go to moving the project forward," said Jorge Ramiro Monroy, CEO and President of Reyna Silver. "Herb and Stephen have extensive experience in exploration and are tremendous partners to work with. By agreeing to defer some cash payments and taking some additional equity in lieu of cash payments, they show their continued support for the project and Reyna Silver's approach to exploration at Medicine Springs."

The Amending Agreement defers a portion of the USD$450,000 cash payment that was previously due in February, 2024 and also converts a further portion to Reyna common shares. As a result of the Amending Agreement, the remaining mandatory and option payments required under the Option Agreement for Reyna to fully exercise its option on the Property are as follows:

Mandatory Payments:

• On or prior to February 1, 2024: USD$100,000 in cash and USD$200,000 in common shares of Reyna (based on the 30-day VWAP of Reyna's common shares on the TSV Venture Exchange ("TSXV") prior to the date of issuance)
• On or prior to October 1, 2024: USD$150,000 in cash and USD$100,000 in common Shares of Reyna (based on the 30-day VWAP of Reyna's common shares on the TSXV prior to the date of issuance)

Option Payments: