Mr. David Coburn reports

MASIVO SIGNS OPTION AGREEMENT FOR THE CERRO COLORADO PROJECT

Masivo Silver Corp., on April 1, 2025, completed the signing of an arm's-length agreement to acquire the Cerro Colorado gold, copper and silver project in the state of Sonora, Mexico, with Jorge Rafael Gallardo Romero, Minera GoldZone S.A. de C.V. and partners. This project is located 28 kilometres from the city of Alamos, Sonora, and 11 kilometres north of the Piedras Verdes open-pit copper mine, one of Mexico's largest.

"With the option agreement signed and all necessary permits already in hand, we are fully prepared to move forward," said David Coburn, chief executive officer of Masivo Silver. "The drill targets are being carefully defined, being prioritized, and we are mobilizing immediately to begin drilling these high-grade silver zones. This is a significant milestone for the Cerro Colorado project and we are excited to start unlocking its full potential."

Masivo Silver and Minera Goldzone agreed on the following.

Upon signing the definitive agreement, Masivo Silver will grant 300,000 shares and begin discussions with the exploration team for an eight-hole drill program at Cerro Colorado.

Upon the first anniversary of completing the eight-hole drill program, Masivo will pay $60,000 (U.S.), and a second payment of either one million Masivo shares or $100,000 (U.S.).

Upon the second anniversary, Masivo will pay $70,000 (U.S.), and a second payment of either 1.5 million Masivo shares or $150,000 (U.S.).

Upon the third anniversary, Masivo will pay $80,000 (U.S.), and a second payment of either two million shares or $200,000 (U.S.).

Upon the fourth anniversary, Masivo will pay $100,000 (U.S.), and a second payment of either 2.5 million shares or $250,000 (U.S.).

Where in each selection between shares and cash, Masivo can further elect to settle a cash election using shares based on a 10-day weighted average share price formula calculating the number of shares issued. The 10-day weighted average price would begin 15 trading days before the anniversary date and end five trading days before the anniversary date.

Upon the 48-month anniversary and all commitments between Masivo Silver and Minera Goldzone and Partners involved have been met at 100 per cent, the concession title and all mining rights will be granted to Masivo Silver, Minera Goldzone and partners will keep a 1.5-per-cent net smelter return (NSR) royalty, which Masivo can buy for $1-million (U.S.).

The Cerro Colorado project consists of two properties, the El Tacon Dos (Cerro Colorado) concession containing 774 hectares (1911 Acres) and the Valle Del Cobre concession containing 1,875 hectares (4,631 acres).

Masivo Silver is responsible for the environmental impact in property; Masivo is responsible to pay all duties and taxes on the mining concession, these during its mining operations in the property.

Senior Mexican geologist Jorge Rafael Gallardo, along with the guidance from Mark Bailey and Brian Brewer, is very close to completing the design of an eight-hole drill program, which will be announced in the very near future, with the commencement of drilling targeted in May of 2025. Masivo will use its $75,000 (U.S.) drill credit with a Mexican drill company to start the drilling process.

In the southwestern part of the project, in a collapsed tunnel on the main structure, a historical sample taken from the mineralized zone reportedly returned assay values of 2,200 grams per tonne (g/t) silver (Ag) and 4.57 g/t gold (Au). As reported in "Consejo de Recursos Naturales No Removables" (now Servicio Geologico Mexicano), this sample was taken in November of 1972, by Ing. Adalberto Vazquez P.

Four hundred metres to the northeast from the reported high-grade sample, a sieve sample of the dumps from another collapsed tunnel on this mineral concession was assayed and returned values of 1,840 g/t Ag, 4.8 g/t Au, 3.06 per cent copper (Cu), 4.5 per cent lead (Pb) and 2.92 per cent zinc (Zn). This was a selective sample and may not represent underlying mineralization.

One hundred metres to the northwest of the dump, a hand-made trench was opened and resulting samples returned strong anomalies including 7.2 metres (true width), with 0.75 g/t Au, 159 g/t Ag, 0.24 per cent Cu, 0.52 per cent Pb and 0.29 per cent Zn. These anomalous values from the leached zone of the breccia outcrop confirm the same geochemical signature of the polymetallic sulphide mineralization found below the surface in the old workings.

On the surface, the alteration zone is heavily leached with box works of different types of sulphides that were leached are clearly observed. Surface sampling returned values of between 12 and 561 g/t Ag, and anomalous values of gold and copper. This mineralized area falls on the same trend as the Piedras Verdes project mine. All recent surface, trench and dump samples taken in rock chips and channel were sent to ALS Chemex in Sonora, Mexico, with the pulps being analyzed by ALS Chemex in Vancouver, Canada, with the labs' strict QA/QC (quality assurance/quality control) procedures.

Masivo continues to work with its qualified person (QP) Brian Brewer, PGeo, as he recovers from taking some personal time off; the company expects assay results from the Boston mine in the near future.

Qualified person

Mr. Brewer 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 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.

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