Nevada Silver Corporation Announces Closing of North Star Manganese Financing

Toronto, Ontario – Nevada Silver Society (TSXV: NSC) (OTCQB: NVDSF) (“NSC” or the “Company”) following its press releases 24 March 242022, and August 12, 2022is pleased to announce that it has completed the previously announced sale of the securities of its indirectly wholly owned subsidiary UNITED STATES subsidiary company, North Star Manganese Inc (“NSM”). NSM sold a total of 3,160,233 shares of NSM at a price of $0.25 per share for gross proceeds of $790,058.23 (the “NSM Funding”). As a result of the NSM financing, the number of outstanding shares of NSM increased to 33,160,233 common shares of NSM, with the Company’s indirect ownership reduced to approximately 90.5%.

NSM funding has received final approval from the TSX Venture Exchange. Proceeds from the NSM financing will be used to advance engineering studies for the Emily Manganese Project and for general working capital. No commission or fees were paid in connection with the NSM Funding.

NSM holds the Emily Manganese Project in Minnesota, United States (the “Emily Manganese Project”). The company focuses on its Corcoran Silver-Gold Project in Nevada, United Statesand do not consider the Emily Manganese Project be important to its operations. As announced on December 21, 2021the Company is studying its options with respect to the financing, development and marketing of the Emily Manganese Project and how best to advance it (any such transaction, a “value realization transaction”). Any value realization transaction will be subject to the receipt of all necessary corporate, securities, shareholder and regulatory approvals, including the approval of the TSX Venture Exchange. There can be no assurance that a Value Realization Transaction will be completed, whether on the terms described or not at all. Further updates will be provided over time. Please see the company’s filing statement dated April 20, 2021for more information on the Emily Manganese Projectavailable under the Company’s profile at www.SEDAR.com.

About Nevada Silver Society

Nevada Silver Society (TSXV: NSC) (OTCQB: NVDSF) is a multi-product resource company with two exploration projects in the UNITED STATES. The main asset of NSC is the Corcoran Silver-Gold Project in Nevada. In addition, NSC has management and ownership rights to the Emily Manganese Project in Minnesotawhich has been the subject of major technical studies, with $24 million invested to date. Corcoran and Emily have been subject to NI 43-101 compliant mineral resource estimates.

This announcement does not constitute an offer of securities for sale in United Statesand no security mentioned herein may be offered or sold in United States the absence of registration or an exemption from registration provided for in the WE Securities Act of 1933 as amended (the “Securities Act”) and the rules and regulations made thereunder. The securities mentioned herein have not been registered under the Securities Act and it is not intended to register any of the securities in United States or to make a public offer of securities United States.

Contact:

Nevada Silver Society

Gary Lewis

Group CEO and Director

Such. : +1 (416) 941 8900

Email: gl@nevadasilvercorp.com

CHF Capital Markets

Perry Rapagna

Administrator

Business development

Such. : +1 (416) 868-1079 extension 230

Email: perry@chfir.com

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.

Forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identifiable by the use of the words “believes”, “may”, “plans”, “will”, “anticipates”, “intends”, “could”, “estimates”, “s ‘expects’, ‘plans’, ‘plans’ and similar expressions, as well as the negative of these expressions.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including, without limitation, risks relating to the fact that the Company has a limited operating history and may differ materially from actual results, risks relating to the ability to raise additional equity or debt capital to continue operations, uncertainty regarding the inclusion of inferred mineral resources in the estimate of mineral resources that are too geologically speculative to be classified as mineral reserves, uncertainty regarding the ability to convert any portion of the Mineral Resource into Mineral Reserves, the uncertainty regarding the t resource estimates and the ability to extract those resources economically, or not at all, uncertainty regarding exploration programs (including drilling) and the Company s the ability to expand and improve estimates of existing resources, the risks involved in future processes and regulatory actions, the risks of making a production decision (if any) without any feasibility study being carried out on the Company’s properties, the risks applicable to the exploration, development and/or operations generally, and the risk resulting from the Company being subject to certain covenants with respect to its activities by creditors, as well as other risks.

Forward-looking information is based on management’s reasonable assumptions, estimates, analyzes and opinions in light of its experience and perception of trends, current conditions and expected developments, and other factors that management considers relevant and reasonable in the circumstances as of the date on which such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

All forward-looking information contained herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update such forward-looking information or to publicly announce the outcome of any revision of any forward-looking information contained herein to reflect future results, events or developments, except as required by law.