Silver One Resources Inc. reported results from its reverse circulation (RC) 7,500-metre ("m") drilling program recently completed at its Candelaria project, Nevada. The objectives of the program, which included examining the extensions to silver-oxide mineralization adjacent to the past producing open pits and filling in between step-out holes drilled in 2021, were all successfully achieved. The silver and gold grades of the holes drilled by the company west of Mt.

Diablo (this release, Feb. 16, May 26 and July 15, 2021 news releases) exceed the average grades (88 g/t Ag and 0.1 g/t Au) mined by open pit by previous operators. Gold grades to the east of Mt.

Diablo pit increase (drill holes SO-C-22-112 to SO-C-115) compared with grades mined by open pit in the past, however, silver grades decrease in this direction. Future drilling will focus on testing the continuity of the mineralization down-dip and along strike from both Mt. Diablo and Northern Belle pits.

Highlights: Since November 2018, the Company has drilled over 25,000 metres in 131 holes, including RC, core, and sonic holes; The recent 36-hole, 7,500 m drilling program tested the extensions to the silver-oxide mineralization to the east of the Mt. Diablo pit, down-dip from the Mt. Diablo and Northern Belle open pits and filled-in areas of silver mineralization between step-out holes drilled in 2021 west of the Mt.

Diablo open pit; Assays include: 1,339 grams/tonne ("g/t") Ag and 1.22 g/t Au over 10.67 m from 68.58 m, within a broad interval of 48.77 m @ 332 g/t Ag and 0.39 g/t Au from 60.96 m in hole SO-C-22-119B (in-fill hole west of Mt. Diablo pit), 501.5 g/t Ag and 0.76 g/t Au over 3.05 m from 263.65 m within a 22.86 m zone @ 0.29 g/t Au and 142 g/t Ag from 252.98 m in hole SO-C-22-106A (Mt. Diablo eastern extension), 518.5 g/t Ag and 0.85 g/t Au over 3.05 m from 284.99 m within a 16.76 m zone @ 0.48 g/t Au and 252 g/t Ag from 281.94 m in hole SO-C-22-125 (Mt.

Diablo down-dip extension), 777 g/t Ag and 1.38 g/t Au over 3.05 m from 289.56 within a 15.24 m zone @ 0.33 g/t Au and 182 g/t Ag from 281.94 m in hole SO-C-22-130 (Northern Belle pit down-dip extension); Drilling results indicate the extension of the mineralization 400 m west (to drill hole SO-C-21-96) and 450 m east of the Mount Diablo pit (to drill hole SO-C-22-115). The mineralization remains open along strike in both directions as well as down-dip from both Mt. Diablo and Northern Belle pits; The Candelaria mineralization is now known to extend nearly 2 km along strike and 1 km in the down-dip direction and remains open in all directions.