Masivo Receives Environmental Permits for Nevada Project

VANCOUVER, December 8, 2021 - Masivo Silver Corp. (TSXV:MASS)(OTC PINK:GNYPF) ("Masivo" or the "Company") announced today that it has received environmental permits for both its public and private land mineral claims, part of the Boston and Montgomery Mine projects (the " Project") in the State of Nevada.

These claims part of the highly prospective silver-gold-copper Project are located in Elko County, Nevada, the leading gold producer in the United States. The claim group comprises approximately 543 hectares (1,342 acres) consisting of 65 unpatented claims including the historic Boston Mine.

"We are very pleased to have received these environmental permits for the Project's mineral claims," stated David Coburn, Masivo Silver Corp. CEO. "We are now a step closer to executing our exploration plan which includes drill ready targets at the Project's historically prolific Boston mine property."

Boston and Montgomery Mine History

Located in the eastern portion of the claim group, was developed in 1910 with a 190-foot shaft and levels at 90 and 190 feet, with 360 feet of drifting on both levels. The mine reported shipments of high-grade silver, gold and copper from a zone that varied in width from six to 40 feet with grades up to 226 grams per tonne ("g/t") silver, 9 g/t gold and 6.8 per cent copper, with localized zones of up to 2,880 g/t silver, 25.7 g/t gold and 32 per cent copper. Since the mine's closure at the onset of the Second World War, the mine was held in private hands, with activity limited to, sporadic surface exploration, sampling on the 90-foot level, and limited surface drilling.

Geology Overview

The Projects covers about nine kilometers of prospective metamorphosed limestones containing silver, gold and copper stratabound skarn mineralization marginal to the contact of a Jurassic aged granodiorite intrusion. Mineralization consists of bornite, chalcopyrite and digenite with silver and gold in calc-silicate hornfels adjacent to faults and altered porphyry dikes, as well as replacement of favourable horizons adjacent to the granodiorite contact.

Qualified Person

Brian Brewer, PGeo, 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 Canadian junior silver and gold mining exploration company based in Vancouver, Canada. Massivo is currently focused on advancing its exploration projects in the State of Nevada, US, and in the State of Sinoloa, Mexico. The Nevada projects are located in the highly prolific mining district of Elko County, covering approximately 543 hectares (1,342 acres), consisting of 65 unpatented land claims, including the historic Boston Mine. In Mexico, Masivo's mining focus includes silver and gold exploration, development, and ore processing within an aggregate of 14,000+ hectares (35,000+ acres) 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 tons of ore per day. Additional information on Masivo's current operations and vision, is available on the Company's website at www.masivosilver.com or email info@masivosilver.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"David Coburn" Chief Executive Officer

For further information contact:

Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Website: www.masivosilver.com

SOURCE: Masivo Silver Corp.