Outcrop Silver Appoints New Board Member Ana Milena VÁsquez

VANCOUVER, Nov. 1, 2022 - Outcrop Silver & Gold Corp. (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG1) ("Outcrop") is pleased to announce the appointment of Ms. Ana Milena Vásquez to the Board of Directors.

Ms. Vásquez has 18 years of experience in the mining sector, including extensive Colombian expertise in mining, project permitting, corporate social responsibility, sustainability, strategic stakeholder engagement, government affairs and media management. Most recently, she held the position of Executive VP of Collective Mining and Senior VP of External Affairs and Sustainability for Continental Gold. Previously, she served as President of CB Gold, a company of which she was co-founder and was also General Manager of Carbones Nueva Naricual in Venezuela and Carbones del Cesar (Mina La Francia) in Colombia. Ms. Vásquez has a proven track record of advocating and promoting women's opportunities, empowerment and equality from senior level positions in the private sector. She is co-founder and Vice President of Women in Mining Colombia and one of the 100 Global Inspirational Women In Mining 2020.

Ms. Vásquez is a candidate for a Master's degree in Sustainability from Harvard University, a Master's degree in Financial Analysis from the Carlos III University of Madrid, and a Bachelor's degree in Finance and International Affairs from Externado University.

"We are delighted to have Ana join Outcrop Silver's Board. Ana brings a wealth of experience in Colombia, including mining, community and government affairs. Her deep knowledge and passion for sustainability and corporate social responsibility align with Outcrop Silver's most critical priorities while advancing our world-class Santa Ana high-grade silver deposit," commented Ian Slater, Chairman. "Her guidance and vision in sustainability and stakeholder engagement will be crucial for the Board to achieve our strategic goals and play a valuable role in ensuring that Outcrop Silver continues to adopt the highest ESG standards while contributing to the government's energy transition."

"I am extremely excited to join the Outcrop team as director," commented Ms. Vásquez. "Outcrop considers ESG practices and sustainability to be fundamental to the way in which it operates, I hope to contribute to further incorporate ESG criteria to Outcrop's strategic development while delivering a new world-class silver deposit in Colombia. I look forward to working closely with this diverse and talented team to ensure we deliver results beyond our objectives and create value to be shared with all our stakeholders."

Outcrop Silver has granted 400,000 incentive stock options to Ms. Vásquez at an exercise price of $0.26 expiring on October 5, 2027.

Outcrop Silver & Gold is rapidly advancing the Santa Ana high-grade silver district with ongoing expansion drilling and an initial resource to be released in the coming months. Outcrop is also progressing exploration on four gold projects with world-class discovery potential in Colombia. These assets are being advanced by a highly disciplined and seasoned professional team with decades of experience in Colombia.

ON BEHALF OF THE BOARD OF DIRECTORS

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential", "we believe", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE Outcrop Silver & Gold Corp.