"Reyna Silver and Reyna Gold Initiates 43-101 Exploration Report on Gryphon Summit Incorporating Historical Drilling Results
Including 2.9 meters of 5.5 g/t Gold within 16 meters of 1 g/t Gold

November 29, 2023 - Vancouver and Hong Kong - Reyna Silver Corp. (TSXV: RSLV; OTCQX: RSNVF; FRA: 4ZC) (“Reyna Silver”) and Reyna Gold Corp. (TSXV: REYG; OTCQB: REYGF) (“Reyna Gold”), joint venture holders of the 10,300-hectare Gryphon Summit project in Elko County, Nevada (See Press Release of September 5, 2023), are pleased to report that the companies are undertaking an independent NI43-101 compliant technical report incorporating over 30 years of technical data from generally shallow-focused gold exploration on the property. Reyna Silver is leading the process and their exploration team is already working with the enormous database assembled by the vendors. A joint technical team will be deployed soon for re-logging and strategic re-assay of all historical sampling and drilling. This includes the recent (2021-2022) 12-hole, 3,090 metre drilling program by Agnico Eagle that cut gold over significant widths in 9 out of the 12 holes drilled (See Highlight Table below). Older drilling results will be reported once the 43-101 report is complete and filed. The project came with valid permits for a number of drill pads in areas with strong prior results that can be readily reoccupied.

Gryphon Summit lies within the Carlin and Battle Mountain-Eureka gold trends, and gold has logically been the focus of recent (1970s-date) exploration on the property, primarily by Majors. However, historic mining (1890s-1920s) exploited silver-lead-zinc mineralization geologically similar to that mined historically in the nearby Eureka and Railroad Districts, where superimposed Carlin-type gold and silver-rich Carbonate Replacement Deposit (CRD) mineralization was recently recognized. The Reynas believe that high potential for significant Carlin Gold and silver-lead-zinc CRD mineralization exists at Gryphon Summit and that recent shallow gold-focused exploration left promising deeper targets untested.

“The Majors’ shallowly-focused programs succeeded in finding strong indications of Carlin-type gold mineralization but did not follow them to depth, while CRD-type mineralization encountered in these gold programs was largely ignored despite the district’s history of silver-dominant CRD mining,” said Jorge Ramiro Monroy, CEO of Reyna Silver and Executive Chairman of Reyna Gold. “Taking advantage of the times and new regional geologic thinking, we acquired the property because we believe it has the ingredients needed for us to do what we are best at…approaching a project from an ore systems perspective to discover a significant new district in Nevada.”

“The recognition of overprinted gold and silver systems in the region has opened opportunities for finding deposits with significantly augmented metals budgets and very robust economics,” said Dr. Peter Megaw, Reyna Silver’s Chief Exploration Advisor. “Gryphon is a large property sitting in the middle of a cluster of these newly recognized systems with abundant evidence that it belongs to this family - we are excited by the data we’ve seen so far and look forward to relogging the existing core with different eyes from those who initially drilled the holes.”

Combined geological and geochemical data support both target types. Over 3,070 selected rock samples collected between 1999 and 2021 along structural zones multiple kilometers long reported up to 24.2 g/t Au with 6 samples over 10 g/t Au, 41 samples over 2 g/t Au, and 186 samples over 0.5 g/t Au (See Figure 2). The same sampling database also includes Silver values to 2000 g/t Silver with 10 samples over 1,000 g/t Ag and 50 samples over 250 g/t Ag. These include samples grading up to 35% Zinc with 33 samples over 5% Zn and 58 samples over 2% Zn. Samples also grade up to 44% Lead with 33 samples over 5% Pb and 85 samples over 2% Pb. Copper - which can be an indicator of higher temperature mineralization and proximity to an intrusive center- grades up to 11.6% with 4 samples over 5% Cu and 23 samples over 2% (See Figure 1).

Table 1. Highlights from Agnico Eagle’s 2021- 2022 Drilling Program at Gryphon Summit

See Reyna's website for table

*Core length in hole, true thickness not yet determinable."