Phase 1 Exploration Review on the Sant Maria Property, Mexico

VANCOUVER, February 9, 2022 - Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) announces a summary of all previous results of surface diamond drilling from the upgraded14,400 -meter drill program on the "Santa Maria" Property in Parral, Mexico.

Peter Hawley, President, CEO reports; "The past year of exploration diamond drilling, underground diamond drilling, definition diamond drilling and finally surface mapping and sampling has been not only aggressive, but has resulted in over 6,900 samples collected and analyzed."

• 50 surface diamond drill holes
  • 36 exploration holes
  • 14 definition holes for: 13,693meters
• 21 underground diamond drill holes: 2,091
• 71 diamond drill holes totaling: 15,784
• Surface drill hole samples taken: 5,944
• Underground drill hole samples taken:846
• Surface exploration samples taken: 120
• Total samples taken: 6,900

Listed below are a few highlight's of drill intercepts in the various drilling categories.

In addition to the numerous mineralized intercepts, new discoveries were made from low sulphidization epithermal type; to hydrothermal type, to super gene enrichment and massive sulphide feeders. See below for examples.

This work led to a new understanding of the Santa Maria property and the relationship of hydrothermal mineralized dioritedikes, and the related mineralized breccias located mostly along the footwall and hanging wall of the dikes. With this understanding it became evident that there were multi pulses of mineralized material in various structures.

With this new understand and by applying our structural / mineralization interpretation, drill successes became greater which has allowed us to grow the over all mineralization envelope

Moving forwards the Company will compile all the results from drilling, surface mapping and sampling, plus geophysical anomalies in preparation for the design and selection for a Phase 2 drill program. Phase 2 will not only seek to grow the mineralization as seen above but to also explore the eastern sector of the property which has yet to be drilled.

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-termmetal 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

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.