Mr. David Coburn reports

MASIVO'S CLARIFICATION NEWS RELEASE PER CIRO

Per Masivo Silver Corp.'s communication with CIRO (Canadian Investment Regulatory Organization), CIRO has requested further clarification on some details per the Masivo Silver news release dated Feb. 26, 2025, Masivo has reissued the news release as follows.

Masivo Silver is pleased to announce the signing of a non-binding LOI (letter of intent) to acquire a gold, silver and copper project in the state of sonora, 28 kilometres northwest of Alamos, Sonora, and 11 kilometres north of one of the largest private Mexican open-pit copper mines in Mexico called Piedras Verdes. This is an arm's-length non-binding transaction with Minera GoldZone SA de CV and partners that was signed on Feb. 22, 2025. This LOI will become binding within the next two or three weeks upon the completion of due diligence. There are no material terms to be announced at this point but the company expects to announce in the very near future.

The Cerro Colorado Sonora project contains two mineral concessions, the El Tacon Dos (Cerro Colorado) concession with 774 hectares (1,911 acres) and the Valle del Cobre concession with 1,875 hectares (4,631 acres).

The company has completed a program of mapping and sampling, soil geochemistry, and a geophysics program -- induced polarization in an area of 1,200 metres long by 200 metres wide where brecciation with phyllic alteration, mainly sericite and iron oxides, is observed.

In the southwest part of the project, in an old collapsed tunnel in the main structure a historical sample taken from the mineralized zone returned 2,200 grams per tonne silver and 4.57 grams per tonne gold. This historic sample comes from the source, Consejo de Recursos Naturales No Renovables (now Servicio Geologico Mexicano); according to the report, this sample was taken on November, 1972, by Adalberto Vazquez P., Ing.

Four hundred metres to the northeast of the high-grade sample in another collapsed tunnel, a selective sample of the old dumps in this mineral concession was assayed and returned values at 1,840 grams per tonne silver, 4.8 grams per tonne gold, 3.06 per cent copper, 4.5 per cent lead and 2.92 per cent zinc; this was a selective sample and may not represent underlying mineralization.

One hundred metres to the northwest from the old dump, a hand-made trench was opened obtaining surface samples with strong anomalies that returned 7.2 metres true width with 0.75 gram per tonne gold, 159 grams per tonne silver, 0.24 per cent copper, 0.52 per cent lead and 0.29 per cent zinc; these anomalous values confirm the same geochemical sign of the polymetallic mineralization in sulphides found below the surface in the old workings in the leached zone of the breccia outcrop.

Hermosillo: On the surface, the alteration zone is heavily leached; multiple box works of different types of sulphides that were leached are clearly observed. Surface sampling returned values of between 12 grams per tonne to 561 grams per tonne silver and anomalous values of gold and copper. This mineralized area falls on the same trend as the Piedras Verdes mining project; all these mentioned surface samples, trench and dump samples taken in rock chips and channels were sent to ALS Chemex in Sonora and the pulps were analyzed by ALS Chemex in Vancouver with the lab's strict quality assurance/quality control.

Mexican senior geologist Rafael Gallardo stated, "This is a project with an excellent target that has never been drill tested at depth; I am happy we are finally ready to move forward; we hope to find similar polymetalic values at depth where a high-chargeability anomaly was detected 80 metres below the surface."

Mr. Gallardo is a senior geologist with 40 years of experience in exploration; he has been a consultant for Minera Cascabel since 1992. He is currently senior exploration manager of Infinitum Copper Inc.

David Coburn, chief executive officer of Masivo Silver, said: "The Masivo technical team led by Mark Bailey and Brian Brewer, [qualified persons], have been collaborating with the Mexican geological team led by Rafael Gallardo on the Cerro Colorado drill program. The Masivo team feels that this will be a perfect complement to the Boston mine project in Nevada, which can have some challenging weather in the winter months. The terms of the Cerro Colorado project has very favourable terms and eliminates upfront cash risk for our shareholders."

Masivo's qualfied person, Brian Brewer, has taken some personal time off and is now on his way back to the Boston mine project. The company should expect drill results in the near future.

A series of eight drill holes are being modelled by Mr. Gallardo. Masivo will use its $75,000 drill credit with a Mexican drill company for this drill program.

Disclaimer: Surface grab samples are selective samples and assay results may not necessarily represent true underlying mineralization.

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, 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 tonnes of ore per day.

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