July 20, 2023 – Outcrop Silver & Gold Corporation (TSXV:OCG, OTCQX:OCGSF, DE:MRG1) (“Outcrop Silver”) is pleased to announce the appointment of Mr. Ian Harris as President & CEO effective immediately. Mr. Harris will also join Outcrop Silver’s Board of Directors.  Joseph Hebert has retired as President & CEO after more than 17 years of service with the organization. Mr. Hebert will continue to serve as a member of the Board of Directors.

“On behalf of the Board of Directors, we thank Mr. Hebert for his leadership, vision and dedication for almost two decades during his tenure first as Vice President Exploration and then as CEO,” comments Ian Slater, Chairman of the Board. “We are grateful to Joe for his dedication to Outcrop Silver and wish him the best in the future. We are fortunate that Joe will remain a member of the Board and continue to provide his invaluable geological expertise and knowledge of the projects to Outcrop Silver and ensure the transition of leadership is seamless. With the announcement of our maiden resource earlier this year, Outcrop Silver is entering a new stage of development. Mr. Harris's extensive experience in project development, advancement to production, and his experience in Colombia will be instrumental in driving this growth." 

Ian Harris, a mining engineer with over 25 years of global mining experience, including 15 years in South America and Colombia, has successfully advanced a wide range of projects, demonstrating his leadership in diverse and challenging environments. His bilingual proficiency in Spanish and English further enhances his ability to lead and manage diverse teams.

"I am honored to take on the role of CEO at Outcrop Silver," said Ian Harris. "I look forward to building on the strong foundation that Joe has established and driving our strategic vision forward. Our focus will remain on delivering value for our shareholders, partners, and communities."

Outcrop Silver has granted 8,000,000 incentive stock options to employees and Directors at an exercise price of $0.22 expiring on July 20, 2028.

About Outcrop Silver

Outcrop Silver is advancing the Santa Ana high-grade silver deposit with exploration activities aiming to expand the current mineral resource. Santa Ana is being advanced by a highly disciplined and seasoned professional team with decades of experience in Colombia.

ON BEHALF OF THE BOARD OF DIRECTORS

Ian Harris
Chief Executive Officer
+1 604 294 9039
moc.dlogdnarevlisporctuo@sirrah
www.outcropsilverandgold.com

Kathy Li
Director of Investor Relations
+1 778 783 2818
moc.dlogdnarevlisporctuo@il

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.