Regency Silver Corp. announced an updated resource estimate for its wholly owned Dios Padre Gold-Copper-Silver project in the state of Sonora, Mexico. The updated resource estimate replaces the previous resource estimate contained in a Technical Report dated November 24, 2020.

The National Instrument 43-101 ("NI 43-101") technical report describing the details of the updated resource estimate will be filed on SEDAR within 45 days from the date of this press release. The resource estimate contains information from the historic Dios Padre silver mine only and does not include any information from the recent discovery hole REG 22-01 which contained an intercept of 35.8 metres of 6.84 g/t gold, 0.88% copper and 21.82 g/t silver. In the summer of 2022 Regency added a total of 1,658 metres of drilling from 11 holes to the resource area.

The updated estimate incorporates only 1,056 meters from 8 holes since holes REG-22-08, 09 and 10 were step out holes which were too far away to be added into the resource estimate. Additional drilling is planned for these areas to eventually incorporate them into the Dios Padre resource. The updated inferred resource for Dios Padre has been estimated at 11.375 million ounces of silver equivalent, represented by 1.384 million tonnes at 255.64 g/t silver equivalent.

This is a 20% increase in inferred resources and an 8.3% increase in grade. The updated resource estimate on the Dios Padre Property includes inferred mineral resources. An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling.

Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

The formula for silver equivalent used is: AgEq (g/t) =((Ag(g/t)*Ag price*Ag recovery)+((Au (g/t)*Au price*Au recovery))/(Ag price*Ag recovery) based on a silver price of $17.00/oz and a gold price of $1,479/oz and assumed metallurgical recoveries of 92% Ag and 91% Au, the same as the previous resource estimate. The effective internal cutûoff grade of 120 g/t silver equivalent was also estimated using the metal prices and recoveries above, and is unchanged from the previous resource estimate. Both the updated and previous resource estimate have been prepared by Gordon Gibson, B.Sc., P.Geo.

The previous resource estimated an inferred resource of 9.5 million troy ounces of silver equivalent at a grade of 236 g/t Ag Eq. (1.25 mt @ 221.70 g/t Ag + 1.25 mt @ 0.17 g/t Au). It was derived from information obtained from a total of 10,425 metres of previous drilling in 66 core drill holes.