File: Attachment Masivo-050924NR.pdf

MASIVO SILVER CLOSES FIRST TRANCHE OF NON-BROKERED FINANCING

Vancouver, British Columbia, May 9, 2024 - Masivo Silver Corp. ("Masivo" or the "Company") (TSXV: MASS) (OTC: GNYPF) is pleased to announce that it 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 (the "Units") at a price of $0.0525 per Unit. The total private placement will raise up to $1,050,000 in gross proceeds with the issuance of up to 20,000,000 Units.

Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.15 for a period of two years after closing.

The Company paid finder's fees totalling $48,407 in cash and 922,040 warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to purchase one Common Share at a price of $0.15 until May 7, 2026. All finder's 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 September 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, US, 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 at www.masivosilver.com or email davidcoburn@masivosilver.com.

ON BEHALF OF THE BOARD OF DIRECTORS "David Coburn" Chief Executive Officer

This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.