Masivo Silver Outlines Phase 1 Drill Targets in Nevada

Vancouver, British Columbia--(Newsfile Corp. - June 15, 2021) - Masivo Silver Corp. (TSXV: MASS) ("Masivo" or the "Company") is pleased to announce their Geological Team has prepared a Phase 1 Preliminary Drill Proposal for the Company's Boston and Montgomery Mines project ("The Project") in the State of Nevada.

Program Highlights

Eight holes totaling approximately 1,200 meters have been proposed to test the main mineralized zones at the Project's Boston Mine patent and Montgomery Tunnel, as well as historical Induced Polarization (IP) anomalies.

• Boston Mine patent - three holes will test historic mineralization including reported historic ore in the mine shaft at a depth of 90 feet grading 2,880 grams per tonne silver (g/t Ag), 25.7 g/t gold (Au) and 32% copper (Cu). An additional report stated that there was a six-inch vein at this same depth that assayed 10,885 g/t Ag (i.e. more than 1%). These reports are not compliant with NI 43-101 reporting standards and all numbers quoted should be considered as historic.
• Montgomery Tunnel - two holes will be drilled under and adjacent to the Montgomery Tunnel, where numerous high-grade surface samples with abundant visible gold (VG) have been collected. Channel samples taken by Masivo personnel have returned 29.5 g/t Au and 169 g/t Ag over three feet and 3.3 g/t Au, 89.8 g/t Ag and 3.1% Cu over 10 feet.
• IP anomalies - At least three holes are planned to test historical IP anomalies that are interpreted to reflect sulfide mineralization that is part of the skarn geology. Based upon the results, a decision will be made as to expanding the IP survey over the rest of the property.

Brian Brewer, the Qualified Person for Masivo, stated, "We are very pleased to take another step in our exploration of the past-producing Boston and Montgomery Mines project. Our drill program, using modern-day technologies, will focus on testing historic data, which includes high-grade showings of gold, silver and copper. We look forward to updating the market with our results and continued exploration as we move forward."

Discussions are underway with drilling contractors and permit applications have already been filed. It is anticipated that drilling could commence in July and a further update will be provided in due course.

Qualified Person

Brian Brewer, M.Sc. CPG (#11508), is Masivo Silver's qualified person for the company's projects in Mexico and Nevada and has approved this news release.

About Masivo Silver Corp.

Masivo is a silver and gold exploration, development, and ore processing company exploring an aggregate of 14,000+ hectares strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The Company's mill, located on its El Colomo property, is capable of processing up to 300 tonnes of ore per day. Additional information on Masivo, its current operations and its vision is available on the Company's website at www.masivosilver.com^[1] or from info@masivosilver.com^[2].

ON BEHALF OF THE BOARD OF DIRECTORS

"David Coburn" Chief Executive Officer

For information, please contact the Company:

Phone: 602-315-1231Email: info@masivosilver.comWebsite: www.masivosilver.com^[3][4]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87634^[5]

References

1. ^{^} www.masivosilver.com (www.newsfilecorp.com)
2. ^{^} info@masivosilver.com (www.newsfilecorp.com)
3. ^{^} info@masivosilver.com (www.newsfilecorp.com)
4. ^{^} www.masivosilver.com (www.newsfilecorp.com)
5. ^{^} https://www.newsfilecorp.com/release/87634 (www.newsfilecorp.com)