TVI Pacific Inc. announced completion of a second shipment of gold doré from the Balabag gold and silver project (Balabag). Balabag is owned 100% by TVI Resource Development Phils. Inc. (TVIRD), a Philippines corporation in which TVI holds a 30.66% interest, and is located in Zamboanga del Sur, Philippines. Balabag has completed its second shipment of gold doré in the amount of 894 kilograms ("kg") containing 641 ounces of gold ("Au") and 27,552 ounces of silver ("Ag") for 992 gold equivalent ounces. The Balabag second shipment of gold doré has generated gross proceeds of $1.8 million. Balabag mill plant availability month-to-date has been 85% and it is currently processing at a month-to-date average rate of 1,064 dry metric tonnes per day ("tpd") with a continued focus to optimize the operation and to ramp-up throughput to 2,000 tpd. The average recoveries month-to-date have been 93% for Au and 86% for Ag. The average head grade month-to-date has been 1.8 g/t Au and 95.1 g/t Ag. Further to the announcement of September 30th, 2021, in which the Company announced the first shipment of gold doré from Balabag and reported various operating statistics, TVIRD has further confirmed that Balabag mill plant availability month-to-date has been 85% and that it is currently processing at a month-to-date average rate of 1,064 tpd. The second shipment in the amount of 894 kg of gold doré has been delivered to the designated refinery and contains 641 ounces of Au and 27,552 ounces of Ag for 992 gold equivalent ounces. Gross proceeds from the second shipment are $1.8 million. The second shipment of gold doré follows the completion of the first shipment on September 30, 2021. Activities at site continue to be concentrated on optimizing the operation and the ramping-up of throughput to 2,000 tpd. The average head grade month-to-date has been 1.8 g/t Au and 95.1 g/t Ag while the average recoveries month-to-date have been 93% for Au and 86% for Ag. The run of mine ("ROM") mineralized stockpile, in-pit stockpile and crushed mineralized stockpile currently contains an approximate 100,000 tonnes of mineralized material, much of which is low to marginal grade and continues to be mined to expose the higher-grade mineralized resource during waste stripping and bench forming. The stockpiles have an average grade of 1.3 g/t Au and 47.7 g/t Ag. It is expected that the average grade of feed will increase as higher-grade mineralized resource is mined. Ongoing exploration drilling is continuing at Balabag with TVIRD having completed to date twenty-six (26) drillholes for a total meterage of 3,720 meters in its Phase 5B drilling program. A total of twenty-eight (28) holes are expected to be drilled with an estimated meterage of 4,200 meters. The Phase 5B drilling program together with assays and reporting is currently expected to be completed in fourth quarter of 2021.