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Swiss Resource Capital AG Poststrasse 1 9100 Herisau, Switzerland http://www.resource-capital.ch
Contact Mr Jochen Staiger +41 71 354 85 01

Tier One Silver Extends Closing of Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

(PresseBox) (Vancouver, Canada, )
– Tier One Silver Inc. (TSXV: TSLV) (“Tier One” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/tier-one-silver-inc/) is pleased to announce that it has received TSX Venture Exchange approval to extend the closing date of its previously announced $2.5 million non-brokered private placement (the “Offering”) until June 2, 2023.

The Company has closed a first tranche of the Offering, issuing 5,622,000 units at C$0.25 per unit, for gross proceeds of C$1,405,500 and expects a second and final tranche to close on or before June 2, 2023.

ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.

Peter Dembicki

President, CEO and Director

For further information on Tier One Silver Inc., please contact Natasha Frakes, VP of Communications, at (778) 729-0600 or info@tieronesilver.com.

In Europe:

Swiss Resource Capital AG

Jochen Staiger & Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

About Tier One

Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The Company’s management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success. The Company’s exploration assets in Peru include: Hurricane Silver, Coastal Batholith, Corisur and the flagship project, Curibaya. For more information, visit www.tieronesilver.com.

Forward Looking Information and General Cautionary Language

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Offering. Forward-looking statements are not historical facts and therefore involve assumptions and uncertainties which could prove materially wrong. Forward-looking statements included in this news release should not be heavily relied upon.

Readers should refer to the risks discussed in the Company's Annual Information Form and Management’s Discussion & Analysis for the year ended December 31, 2022, and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedar.com.

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

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.