Tier One Silver Inc. 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.

The second phase of drilling at Curibaya is expected to consist of 10 drill holes distributed over five platforms. The proposed locations of the drill holes take into consideration the interpretation of all the geological, geochemical and geophysical results and data obtained from the project. Once drilling begins, the drill plan may evolve to adjust the angle, location and depth of the holes, according to observed results.