Fabled Intercepts Northeast Trending Mineralized Intrusive

VANCOUVER, October 13, 2021 - Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) announces additional results from underground diamond drilling of the increased 1,400-meter underground drill program on the "Santa Maria" Property in Parral, Mexico, see Figure 1.

Figure 1

- Plan View of Area of Current Underground Drilling with Modeled Mineralized Intrusive Dikes

SMUG21-18

Exploration diamond drill hole SMUG21-18 was drilled at 0-degree dip or flat and was designed to test, at depth, an interpreted Northeast trending intrusive mapped on surface, as seen above in Figure 1.

SMUG21-18 was successful in the interception of a wide, low-grade silver impregnated northeast trending intrusive dike, or finger, from 58 - 129 meters. This 71-meter intercept ended in mineralized intrusive dike.

In general, the drill core of the intrusive was reddish in color, highly fractured with quartz veinlets with 2-5% fine disseminated pyrite.

See Figures 2, 3; Table 1; Photo 1 of hydrothermal Intrusive dike below.

Figure 2- Cross Section of Underground Drill Hole SMUG21- 18

Table 1- Drill hole SMUG 21- 18 Assay Results

• ** Ag Equivalent ("Ag Eq") grade is calculated using $20 per ounce Ag and $1,600 Au

This intercept is on trend with the intercepts of surface diamond drill hole SM20-1,2,3 which are collared 700 meters to the northeast and drilled in one fence or section. Hole SM20- 01 reported a broad zone of silver mineralization within the intrusive dike, such as 68.60 meters grading 53.24 g/t Ag Eq with higher grade intervals at a depth of -85 meters vertically. The deeper hole SM20-02 reported 6 meters grading 351.66 g/t Ag Eq at a vertical depth of -105 meters, and hole SM20-03 reported 12.50 meters of 110.51 g/t Ag Eq with numerous higher-grade intercepts at a depth of -300 meters. See Figure 3 below.

Drill hole SMUG21-20 was designed to test the intrusive structure from Underground approximately 200 meters on strike to the northeast and between holes SMUG21-19 and surface holes SM20-1, 2and 3. See Figure 1 for location.

Figure 3- Cross Section of Surface Drill Holes SM20-01 - 03, inclusive

Photo 1- Drill hole SMUG 21- 18

SMUG21-19

Exploration diamond drill hole SMUG21-19 was drilled at 0-degree dip or flat and was designed to test the southeast extension of the main intrusive dike, currently being drilled from surface, before the projected interception with the northeast trending dike as discussed in SMUG21-18 above, see Figure 1.

SMUG21-19 was successful in the interception of 15 meters of low-grade Santa Maria Footwall structure from the collar or beginning of the hole.

This was followed by silicified limestone until 54 - 78.20 meters where the hole intercepted 24.20 meters of weakly mineralized intrusive dike.

In general, an alternating dike sequence from massive gray to reddish highly silicified and oxidized porphyritic diorite dike with fine disseminated sulphides was intercepted over the 24.20-meter interval.

See Table 2, Figure 4, Photo 2 of the oxidized dike below.

Figure 4- Cross Section of Underground Drill Hole SMUG21- 19

Table 2- Drill hole SMUG21-19 Assay Results

• ** Ag Equivalent ("Ag Eq") grade is calculated using $20 per ounce Ag63.86 and $1,600 Au

Photo 2 - SMUG21-19 Oxidized Diorite Dike

FUTURE UNDERGROUND DRILLING UPDATE

The Company has extended the underground drilling by increasing the meterage by 200 meters and as such hole SMUG21-19-21, inclusive have been drilled, See Figure 1 above for locations, have been holes SMUG21-20 and 21 are pending assay results.

QA QC Procedure

Analytical results of sampling reported by Fabled Silver Gold represent core samples that have been sawn in half with half of the core sampled and submitted by Fabled Silver Gold staff directly to ALS Chemex, Chihuahua, Chihuahua, Mexico. Samples were crushed, split, and pulverized as per ALS Chemex method PREP-31, then analyzed for ME-ICP61 33 element package by four acid digestion with ICP-AES Finish. ME-GRA21 method for Au and Ag by fire assay and gravimetric finish, 30g nominal sample weight.

Over Limit Methods

For samples triggering precious metal over-limit thresholds of 10 g/t Au or 100 g/t Ag, the following is being used:

Au-GRA21 Au by fire assay and gravimetric finish with 30 g sample.

Ag-GRA21 Ag by fire assay and gravimetric finish.

Fabled Silver Gold monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals.

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring, and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

Mr. Peter J. Hawley, President and C.E.O.

Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com

For further information please contact:
info@fabledfco.com

The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

SOURCE: Fabled Silver Gold Corp.