Mr. Gary Lewis reports

NEVADA SILVER CORPORATION APPOINTS OLIVER LENNOX-KING AS CHAIRMAN AND ANNOUNCES OTHER BOARD AND MANAGEMENT CHANGES

Oliver Lennox-King has been appointed to the Nevada Silver Corp. board as non-executive chairman, with immediate effect, replacing John Kutkevicius, who has held the position in an interim capacity since the summer of 2022.

Mr. Lennox-King has had a long and distinguished career in the mineral resource industry and has a wide range of experience in financing, research and marketing. Since 1992, he has held senior executive and board positions with a number of junior exploration and mining companies. Most recently, Mr. Lennox-King was the chairman of Roxgold Inc. from 2012 until its acquisition by Fortuna Silver Mines Inc. in July, 2021. In addition to Roxgold, other notable chairmanships included Pangea Goldfields, Aurora Uranium and Fronteer Gold, the latter until it was acquired by Newmont Mining Corp.

Nevada Silver chief executive officer Gary Lewis said: "We are delighted to welcome Oliver to the board and will benefit greatly from his board experience and deep knowledge of the mineral resources industry.

"The board of directors wishes to thank Mr. John Kutkevicius for his time and stewardship as interim NSC chairman. John helped steer the company through a challenging period and we will be forever grateful for his service. John will remain on the board as a non-executive director."

The company is also pleased to announce the appointment of Megan McElwain as non-executive director. Since earning a BA in communications at Ryerson University in 2000, Ms. McElwain has had a successful and diverse business career. She has produced content for Fox Television in Los Angeles, A&E Television Networks in New York, and then Alliance Atlantis, CTV News, Discovery Channel, BBC, National Geographic and Global News from Toronto. In 2018, Ms. McElwain joined the Fraser Institute, an independent public policy research and education organization, as director of development. Two years later, the Canadian Chamber of Commerce offered Ms. McElwain the vice-president and general manager position. Ms. McElwain was appointed president and chief operating officer of KWG Resources in January, 2022.

Mr. Kutkevicius said, "Megan will bring a new level of perspective and experience to the board of directors, and we look forward to working with her."

Nevada Silver also announces that Dr. Ian Pringle will be stepping down from the board to take up a dual role as chairman of the Nevada Silver technical committee and president and director of the company's wholly owned subsidiary, North American Silver Corp. In addition to a more hands-on role with the company's Nevada silver assets, Dr. Pringle will be retained as a key technical consultant to the Nevada Silver board.

The company also advises that it has granted an aggregate of 3.65 million stock options to certain directors, officers and consultants of the company. These stock options were issued in accordance with, and subject to, the provisions of the company's stock option plan and are subject to approval of the TSX Venture Exchange. Each stock option entitles the holder to purchase one common share of the company at an exercise price of 25 cents per share for a five-year period.

Mr. Lewis said: "Having recently announced plans for a corporate name change to Electric Metals USA Ltd. to reflect the entirety of our value proposition as a developer of battery and technology-related minerals, the board changes announced today will provide for a diversity of ideas and experience as we take the company forward into an exciting new period of growth and development. And with the recently closed $3.5-million financing, NSC is well funded to advance its exploration and development plans at its Emily manganese project in Minnesota, U.S."

About Nevada Silver Corp.

Nevada Silver is a multicommodity resource company with battery and technology-related mineral resource projects in the United States. Nevada Silver's principal asset is the Emily manganese project in Minnesota, which has been the subject of considerable technical studies with $24-million (U.S.) invested to date and North America's highest-grade manganese resource. In addition, Nevada Silver owns the Corcoran and Belmont silver projects in Nevada. Both Emily and Corcoran have been the subject of National Instrument 43-101-compliant mineral resource estimates.

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