Silver One Resources Inc. announced the staking of additional claims to the east of those announced in the Company's news release of October 23, 2023.  These new claims further expand the ground holdings at its Phoenix Silver Project near Globe, Arizona.  The newly acquired area more fully covers regional magnetic anomalies located in the southern part of the property.  These anomalies are  part of a prolific, 30+ km long, northeast-trending porphyry copper belt; host to several large porphyry copper deposits such as Resolution (Rio Tinto-BHP), Carlota (KGHM), Pinto Valley (Capstone Copper) and Globe/Miami (Freeport McMoran). Highlights: The Phoenix Silver property has expanded in size and scope to cover the original very high-grade silver vein targets and the more recently outlined areas of potential porphyry copper targets.

The Project now covers 6,141 hectares (15,175 acres) along the northeastern extension of a 30+ km long system hosting past and current producing silver and copper mines.  This belt is the focus of new exploration efforts by several companies to potentially outline new porphyry copper and silver related targets. Silver One is planning on drilling the potentially very high-grade silver targets, which are already permitted, in 2024.  The Company also plans to conduct sampling and geophysical surveys to better outline potential porphyry copper targets in the southern part of the property. Silver One's new staking has strategically secured 260 unpatented lode claims covering 2,090 hectares (5,165 acres) in an area renowned for its geological copper and silver potential, as illustrated by the Resolution deposit, one of the world's largest undeveloped copper deposits, BHP's new Ocelot  copper discovery,  Freeport McMoRan's Miami complex immediately southwest of Phoenix Silver, other producing copper mines, as well as associated regional magnetic anomalies possibly indicative of porphyry copper deposits.  In total, the property now extends over 6,141 hectares (61.4 square kilometers or 15,175 acres) which cover both the potential very high-grade silver and the porphyry copper targets.

The new claims occur along a prolific present and past-producing northeast-trending, 30+ km long porphyry copper belt.  Freeport McMoran is currently operating the Miami copper mine immediately southwest of Phoenix Silver, Capstone operates Pinto Valley Mine, and KGHM owns the Carlotta Mine.  Several other companies, including BHP, Rio Tinto and South 32, are actively exploring the area.   Select rock samples collected from the southern portion of the Phoenix Silver property have returned several values over 1% copper. Silver One is leveraging the use of advanced exploration technology to identify promising new targets. The reprocessing of drone-borne and publicly available regional magnetic data using magnetic vector inversion (MVI) modelling has revealed strong northeast-trending magnetic anomalies at Phoenix Silver, which are similar to those found at Globe-Miami and elsewhere along the 30+ km long mineralized belt.