January 13, 2022 – Vancouver, BC – Outcrop Silver & Gold Corporation (TSXV:OCG, OTCQX:OCGSF, DE:MRG1) (“Outcrop”) is pleased to announce the appointment of Paul Taggar to the position of CFO, replacing Lisa Peterson.

Mr. Taggar is a CPA with over 15 years of experience within the mining, commodities and professional services industries. He previously worked for Fronteer Gold until its acquisition by Newmont Mining. Most recently, Mr. Taggar was the CFO of an international commodities firm, specializing in exports of grain products. He started his career with KPMG and he holds a Bachelor of Business Administration from Simon Fraser University.

“I am pleased to announce another great addition to the Outcrop leadership team with the appointment of Mr. Taggar,” comments Joseph Hebert, Chief Executive Officer. “His expertise and diverse experience will be an enormous asset to Outcrop. We are building a world class management team to steadily advance our Santa Ana project and support the continued growth of our company.”

In connection with the appointment Outcrop has granted Mr. Taggar 500,000 incentive stock options exercisable at a price of $0.16 expiring on January 13, 2027.

About Outcrop

Outcrop is rapidly advancing exploration on five silver and gold exploration projects with world-class discovery potential in Colombia. Outcrop is currently drilling and expanding the Santa Ana historic high-grade silver district. 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

Joseph P Hebert, Chief Executive Officer                                               Mars Investor Relations
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www.outcropsilverandgold.com

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.