Golden Tag Resources Proposes Name Change to Silver Storm Mining and Initiates 2023 Brand Awareness Program

Greg McKenzie, President & CEO of Golden Tag said "We are initiating the name change to better reflect the Company's strategic goal to become a Latin American focused silver producer. The Company's recently completed acquisition of the La Parrilla Silver Mine Complex ("La Parrilla") located in Durango, Mexico, is the first step in this process. With the potential of La Parrilla, management sees great opportunities to build shareholder value driven by a highly focused silver company successfully branded and marketed as 'Silver Storm'."

The proposed name change is subject to regulatory approval, including that of the TSX Venture Exchange, and receipt of shareholders' approval at the Annual General and Special Meeting of shareholders to be held on October 30, 2023. Further details regarding the name change will be announced prior to the effective date.

Additionally, the Company has initiated a program for 2023 to increase investor awareness and improve trading liquidity of the Company's shares on the TSXV, the OTCQB, and the Frankfurt Stock Exchange.

Greg McKenzie, President & CEO of Golden Tag further commented "We are pursuing additional efforts to increase our messaging and brand awareness across a number of platforms following on from the acquisition of La Parrilla. This program, we believe, will help investors understand the significant value proposition of owning shares in Golden Tag. The La Parrilla Complex has a long history of production and hosts significant in-place infrastructure including a 2,000 tpd processing facility. Our upcoming drill campaign to infill and step-out in proximity to existing development is intended to show the strong resource upside at the mine. We look forward to meeting with our investor base over the coming months."

The program will have an estimated cost of approximately Cdn$400,000 consisting of the following:

About Golden Tag Resources

Golden Tag Resources Ltd. is focused on advanced stage silver projects located in Durango, Mexico. Golden Tag recently completed the acquisition of the La Parrilla Silver Mine Complex, a prolific complex which is comprised of five underground mines and a past producing open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds the San Diego Project which is among the largest undeveloped silver assets in Mexico. For more information regarding the Company and its projects, please visit our website at www.goldentag.ca.

For additional information, please contact:

Greg McKenzie, President & CEO
Ph: 416-504-2024
greg.mckenzie@goldentag.ca

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward Looking Statements:

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase 'forward-looking information' in the Canadian Securities Administrators' National Instrument 51-102 - Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management and Qualified Persons (in the case of technical and scientific information) expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the effectiveness of the brand awareness and messaging campaigns, to initiate a rebranding process & change the name of the Company, the ability to eventually place the La Parrilla Complex back into production and the future exploration performance at La Parrilla.

Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, there being no assurance that the Company's future exploration programs will grow the Mineral Resource base or upgrade Mineral Resource confidence, the risk that the assumptions referred to above prove not to be valid or reliable, the risk that the Company is unable to achieve its goal of placing La Parrilla back into production; market conditions and volatility and global economic conditions including increased volatility and potentially negative capital raising conditions resulting from the continued or escalation of the COVID-19 pandemic, risk of delay and/or cessation in planned work or changes in the Company's financial condition and development plans; risks associated with the interpretation of data (including in respect of third party mineralized material) regarding the geology, grade and continuity of mineral deposits, the uncertainty of the geology, grade and continuity of mineral deposits and the risk of unexpected variations in Mineral Resources, grade and/or recovery rates; risks related to gold, silver and other commodity price fluctuations; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour, the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits and the presence of laws and regulations that may impose restrictions on mining, including the Mexican mining reforms; risks relating to environmental regulation and liability; the possibility that results will not be consistent with the Company's expectations.

Such forward-looking information represents managements and Qualified Persons (in the case of technical and scientific information) best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.