Silicon Metals Corp. Announces Acquisition of Contiguous Claims Totalling ~919 Hectares to Increase Land Position by ~40% at the Ptarmigan Silica Project in B.C., Completes Phase 1 Exploration and Engages Fairfax for Marketing

Vancouver, British Columbia--(Newsfile Corp. - November 5, 2024) - SILICON METALS CORP. (CSE: SI) ("Silicon Metals" or the "Company") is pleased to announce the Company has increased its land position by ~919 total contiguous hectares at its 100% owned Ptarmigan Silica Project located approximately 130km from Prince George, British Columbia, enlarging the Ptarmigan property by ~40% in size.

The Ptarmigan Silica project is located within the Rocky Mountain Trench, on the western flank of the Rocky Mountains and is proximal to the Fraser River valley. The project lies approximately 130 km east of Prince George, BC., and is transected by the Yellowhead Highway. Ptarmigan is now comprised of claims for a total area of ~4,000 hectares. The area is underlain predominantly by metasedimentary rocks of the Proterozoic to Lower Cambrian age Cariboo Group. Within the Cariboo Group, the Yanks Peak formation is mainly quartzite, and is the target horizon for this project.

Additional Claims Increasing Ptarmigan's Land Position

This recent addition of ~919 hectares adds ~40% to Silicon Metals Ptarmigan Project. The newly staked claims have expanded the property towards the south and southwest, as there is a belief by the Company's technical team and partners that the quartzite ridges potentially extend onto the recently acquired ground. Management believes these newly staked claims will enhance the viability of the project with a larger footprint.

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Ptarmigan Phase 1 Work Program Completed

Hardline Exploration field crews completed the phase 1 exploration program on the Ptarmigan Project from October 22 - November 3. The program consisted of rock sampling and mapping, channel sampling, chip sampling, collecting bulk material for metallurgy and drone imagery surveys. Two hundred twenty-five samples were collected from the property including 205 outcrop grab samples, seven chip samples over 30m, and 11 channel samples over 24 meters of channel sampling. Chip sampling was conducted at the quarry along Highway 16 and consisted of continuous chip samples from outcrop along the quarry walls. Channel sampling was conducted at two sites of silica enriched quartzite using a handheld 14" diamond saw blade. Drone imagery was completed on days where weather was suitable and consisted of orthorectified photo compilation from the highway quarry eastward overtop of multiple ridges of quartzite. Drone imagery also included videos and photographs of outcrops and property views, which will be shared in due course. The primary target on the Ptarmigan project is silica enriched quartzite of the Yanks Peak Formation. The Yanks Peak Formation comprises quartzite, siltite, slate, phyllite and minor calcareous sandstone. White coarse grained orthoquartzite is characteristic of the Yanks Peak Formation in the Cariboo Terrane. The Yanks Peak Formation also has thicknesses reported up to 580 meters.