Mr. David Coburn reports

MASIVO HIGHLIGHTS WIDE HISTORIC HIGH-GRADE RESULTS FROM CERRO COLORADO AND ANNOUNCES EQUITY RAISE

Masivo Silver Corp. has released encouraging historic results from the two known drill holes completed at the drill target for the Cerro Colorado gold-silver project in Sonora, Mexico, as the company advances final due diligence ahead of a proposed acquisition.

In conjunction with this update, the company is announcing a non-brokered private placement of up to $1-million to finance exploration at both Cerro Colorado and the company's Boston mine in Nevada.

Historic drill highlights -- Cerro Colorado (2015)

The two shallow holes, drilled by Minera Gold Zone in 2015, targeted the southwestern margin of the Cerro Colorado system and returned multiple broad, near-surface, high-grade polymetallic intercepts.

Hole ETCC-15-01 -- broad high-grade silver and base metals:

• Total hole length: 94.55 metres;
• Key intercepts:
  • 29.65 metres of 50.74 grams per tonne silver, 0.607 per cent zinc, 0.131 per cent lead, 0.053 per cent copper and 0.062 g/t gold (from 48.80 to 78.45 m):
    • Including:
      • 5.05 m of 254 g/t Ag, 0.80 per cent Zn, 0.365 per cent Pb, 0.266 per cent Cu and 0.262 g/t Au;
      • 2.95 m of 384 g/t Ag, 0.939 per cent Zn, 0.544 per cent Pb, 0.399 per cent Cu and 0.395 g/t Au;
      • 2.45 m of 430 g/t Ag, 0.771 per cent Zn, 0.444 per cent Pb, 0.591 per cent Cu and 0.432 g/t Au;
• The mineralization occurs approximately 50 metres below surface, directly beneath a nine-metre-wide altered dike that returned 17.80 g/t Ag and 0.11 per cent Pb at surface.

Hole ETCC-15-04 -- continuity confirmed:

• Key intercepts:
  • 35.80 m of 23.44 g/t Ag and 0.406 per cent Zn (from 44.50 to 80.30 m):
    • Including:
      • 3.15 m of 159.06 g/t Ag, 0.513 per cent Zn, 0.338 per cent Pb, 0.141 per cent Cu and 0.188 g/t Au;
      • 0.60 m of 577 g/t Ag, 0.907 per cent Zn, 0.790 per cent Pb, 0.516 per cent Cu and 0.705 g/t Au.

Geological interpretation and exploration plans

The alteration and geochemical signatures suggest Cerro Colorado hosts a subepithermal polymetallic system, potentially related to breccia structures on the flank of a deeper porphyry system.

"With these two historic holes drilled -- both intersecting broad, high-grade mineralization near surface -- Cerro Colorado presents clear upside," said David Coburn, chief executive officer of Masivo. "We're looking forward to applying modern exploration tools and initiating a focused drill campaign as soon as we complete our due diligence."

Masivo expects to finalize acquisition due diligence shortly and plans to launch its initial drill campaign at Cerro Colorado upon closing.

Private placement financing

Masivo also announces a non-brokered private placement for gross proceeds of up to $1-million, through the issuance of units priced at six cents per unit. Each unit will consist of:

• One common share; and
• One-half common share purchase warrant.

Each whole warrant will entitle the holder to acquire one additional common share at an exercise price of 10 cents for a period of 12 months from the date of issuance.

Use of proceeds

Proceeds will finance exploration at the Cerro Colorado project in Sonora, Mexico, and the Boston mine in Nevada, in addition to general working capital.

The offering is subject to TSX Venture Exchange approval. All securities issued will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.

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 tons of ore per day.

We seek Safe Harbor.