Outcrop Silver & Gold Corporation announced that drilling at El Dorado vein system commenced on January 8, 2022, and as a result of the successful regional exploration work that generated seven new vein targets last year, plans to add a second drill-rig in February to accelerate the definition of additional high grade shoots is underway. In late March, Outcrop plans to bring in a third drill rig to focus on delineation drilling of potential resource areas from eight shoots that cumulatively totals 2,100 metres long by 350 metres projected depth. Outcrop is working towards defining twelve shoots in total to provide a potential resource area of over 3,000 metres by 350 metres projected depth, adequate for a maiden resource report to be released before the end of 2022.

Outcrop is guiding an initial resource between 45 and 55 million ounces equivalent silver at grades between 550 and 750 grams equivalent silver per tonne. 18,000 metres of drilling is planned for this year to complete the discovery of 12 high-grade shoots and up to another 8,500 metres for definition drilling in preparation of the maiden compliant resource. One drill-rig will remain in the north to explore El Dorado, Naranjos and Alaska targets and a second rig will be deployed to the south to explore La Isabela, Espiritu Santo, Las Maras, and California veins.

In parallel with drilling, Outcrop will continue advancing regional-scale exploration south to the Frias Mine Group (Frias, Plaza, and Calamonte mines in three parallel vein zones) where it expects to generate numerous additional drill targets. Outcrop will expedite prospecting, mapping, and sampling activities between El Cristo mine and Baroyeca Silver's La Ye vein system which projects to the northeast and southwest onto Outcrop concessions. The El Cristo to La Ye vein system provides a new target zone 2.5 kilometres long.

The resource may be upscaled as new shoots are discovered and delineated on the Santa Ana project. The maiden resource is expected to represent less than 25% of the veins mapped and projected from only 6,000 hectares of the entire 36,000 hectare property.