Mr. David Coburn reports

MASIVO SILVER CLOSES FIRST TRANCHE OF NON-BROKERED FINANCING

Masivo Silver Corp. has closed the first tranche of a non-brokered private placement. The first tranche raised gross proceeds of $882,236 from the issuance of 16,804,497 units at a price of 5.25 cents per unit. The total private placement will raise up to $1.05-million in gross proceeds with the issuance of up to 20 million units.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 15 cents for a period of two years after closing.

The company paid finders' fees totalling $48,407 in cash and 922,040 warrants. Each finder's warrant entitles the holder to purchase one common share at a price of 15 cents until May 7, 2026. All finders' fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies. All securities issued in this closing of the private placement are subject to statutory four-month hold periods expiring on Sept. 8, 2024. The private placement remains subject to obtaining final approval of the TSX Venture Exchange.

The net proceeds of the offering will be used to advance exploration activities at the Boston mine property in the state of Nevada, as well as for general working capital.

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, United States, 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.

We seek Safe Harbor.