Mr. David Coburn reports

MASIVO SILVER CORP. LAUNCHES PHASE I DRILL PROGRAM AT CERRO COLORADO PROJECT, SONORA, MEXICO

Masivo Silver Corp.'s phase I diamond drill program has begun at its Cerro Colorado project in Sonora, Mexico.

The initial phase of the program consists of approximately eight diamond drill holes totalling an estimated 1,500 to 2,000 metres. The program is designed to systematically test high-priority silver-copper targets identified through geological mapping, surface sampling and historical data compilation.

David G. Coburn, chief executive officer and director, commented:

"The start of drilling at Cerro Colorado is a pivotal moment for Masivo. We are now systematically testing what we have evidence at surface of being at least 1.2 kilometres structurally controlled, expanding silver-copper system with clear evidence of scale at surface. These first holes are designed to validate our geological model and demonstrate continuity at depth. We believe this program has the potential to materially expand the footprint of mineralization and unlock significant value for shareholders."

Hole A targets a depth of 130 metres, with the objective of hitting a zone of polymetallic sulphides that may correspond with an anomaly of high chargeability found in the geophysics program or induced polarization (IP) at a depth of 100 metres below surface. There is strong potential for significantly higher values of silver (Ag), gold (Au), copper (Cu), lead (Pb) and zinc (Zn).

Hole B is planned approximately 500 metres northeast of hole A, targeting a depth of 150 metres. The objective is to test a high-chargeability anomaly and follow up on high-grade values identified in sulphide material from the dumps of historic mine workings, which returned assays of 1,840 grams per tonne (g/t) silver (Ag), 4.82 g/t gold (Au), 3.06 per cent copper (Cu), 4.55 per cent lead (Pb) and 2.92 per cent zinc (Zn).

Holes C, D and E are planned between holes A and B, with the objective of testing the high-chargeability anomaly within the same mineralized structure. Hole C and E are designed to reach a target depth of 150 metres, while hole D is planned to extend deeper to 200 metres.

Holes F and G are planned to reach depths of 150 to 300 metres northeast of hole B. Their objective is to test the high-chargeability anomaly and assess the continuity of the mineralized structure along a well-defined southwest-to-northeast trend.

Hole H is oriented in a different direction, targeting a southeast-to-northwest structural system that is perpendicular to the main southwest-to-northeast trend.

This secondary structural system hosts a gold-copper-silver (Au-Cu-Ag) mineralization style, observed in several near-surface historic artisanal workings developed by local Gambusinos. These small-scale mines have returned high-grade values, including over 20 g/t gold (Au), 95 g/t silver (Ag) and 0.8 per cent copper (Cu). The planned depth for these holes is 120 metres.

The Cerro Colorado project hosts numerous historical workings and surface exposures of silver-copper mineralization. Previous surface sampling has returned encouraging silver and copper values associated with quartz veining, breccia zones and structurally controlled shear zones. The current drill program represents the first systematic test of several priority targets at depth and is intended to confirm continuity of mineralization below surface exposures.

Historical drill results (2015)

Historical drilling completed by Minera Gold Zone in 2015 on the southwestern margin of the Cerro Colorado system returned broad, near-surface, polymetallic silver and base-metal mineralization, including the following intercepts:

• ETCC-15-01: 29.65 metres at 50.74 g/t Ag, 0.607 per cent Zn, 0.131 per cent Pb, 0.053 per cent Cu and 0.062 g/t Au (48.80 to 78.45 metres), including 5.05 metres at 254 g/t Ag and 2.95 m at 384 g/t Ag;
• ETCC-15-04: 35.80 metres at 23.44 g/t Ag and 0.406 per cent Zn (44.50 to 80.30 metres), including 3.15 metres at 159.06 g/t Ag and 0.60 metre at 577 g/t Ag (with associated base metals and gold).

These historical intercepts, together with recent mapping and surface sampling, support the current phase I drill program designed to test the continuity and structural controls of mineralization at depth.

The company will provide updates as the program progresses.

Qualified person

Brian Brewer, PGeo, is Masivo Silver's qualified person for the company's projects in Mexico and Nevada, and has approved this news release.

About Masivo Silver Corp.

Masivo is a Canadian junior silver and gold mining exploration company based in Vancouver, Canada. Masivo is currently focused on advancing its exploration projects in the state of Nevada, U.S., and in the state of Sinaloa, Mexico. The company's mill, located on its El Colomo property, is capable of processing up to 300 tons of ore per day. Additional information on Masivo's current operations is available on the company's website or by e-mail at davidcoburn@masivosilver.com.

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