Reyna Silver - Targeting High-Grade Silver & Gold in Nevada

• Reyna Silver has four projects, two in Nevada (Gryphon and Medicine Springs) and two in Mexico (Santo Lalia and Batopilas). The current focus is on Gryphon Summit.
• Gryphon Summit has a stacked gold, silver and critical metal system. Reyna Silver believes there is potential for a carbonate replacement deposit (CRD) and is excited to explore the project further this summer.
• The company recently completed a financing to fund a 3,000m proof of concept drill program at Gryphon. They are targeting well-mineralized structures that have seen limited historical drilling.
• CRDs are associated with porphyry systems and form through repeated mineralization events when acidic fluids react with carbonate host rocks, often resulting in high-grade polymetallic deposits.
• Reyna Silver's exploration approach at Gryphon will incorporate geologic mapping, geochemistry, geophysics and hyperspectral analysis to vector towards the most prospective parts of the CRD system.

About Reyna Silver

Reyna Silver Corp. (TSXV:RSLV) is a growth-oriented silver exploration company focused on district-scale discoveries in Nevada and Mexico. The company's portfolio includes four projects – two in Nevada (Gryphon and Medicine Springs) and two in Mexico (Batopilas and Guigui). Reyna Silver's strength lies in its technical team's extensive experience exploring and discovering world-class carbonate replacement deposits (CRDs).

Interview with Investor Relations, Lauren Megaw

CRDs: A Primer

CRDs rank among the world's largest and highest-grade polymetallic deposits. These systems form when acidic, metal-rich fluids (often sourced from a nearby porphyry intrusion) migrate upwards along structures and react with carbonate host rocks such as limestone or dolomite. The neutralization of the acidic fluids causes the precipitation of sulfide minerals, resulting in the formation of chimney- and manto-style mineralization enriched in silver, lead, zinc, copper and other metals.

The key to exploring for CRDs is understanding their complex, multi-stage evolution. Repeated mineralization events can result in a zonation of metals, with proximal copper and distal silver-lead-zinc assemblages. Recognizing this zonation is critical for vectoring towards the most prospective parts of the system.

"CRDs can be very high grade with really good metallurgy because of how they form. The longer lived, the more mineralized the system, the bigger it gets, the higher grade it gets."

Exploring the Gryphon Project

Reyna Silver's current focus is the Gryphon project in Nevada, strategically located between the Carlin Trend and the Battle Mountain-Eureka Trend. The project hosts a stacked gold, silver and base metal system with the potential for both CRD and Carlin-type mineralization.

Historical exploration at Gryphon primarily targeted Carlin-style mineralization, with limited drilling of the CRD potential. Reyna Silver sees an opportunity to apply modern CRD exploration concepts to unlock the project's value. As Lauren Megaw, Investor Relations, notes, "Historically, the main structures, the roots of mineralization, have only been the target twice out of 23 holes. When they hit, they hit good mineralization."

This summer, Reyna Silver plans to drill 3,000 meters at Griffin Summit to test proof of concept targets, including:

• Well-mineralized CRD structures with up to 35% zinc, 2000 g/t silver and 40% lead at surface that have seen minimal drilling
• Areas of high-grade copper mineralization (up to 11.6%) that could indicate proximity to a potassic core of the CRD system
• Extensions of a mineralized structure that returned 1.5m at 8.8 g/t gold

To guide this drilling, Reyna Silver is employing a multidisciplinary approach integrating geologic mapping, geochemistry, geophysics and hyperspectral analysis. The aim is to identify vectors towards the most prospective parts of the CRD system, whether that be high-grade mantos or a causative porphyry.

This systematic strategy has already yielded results. Lauren Megaw comments, "We have structures at Griffin that you can stand on that are highly anomalous in lead, zinc, silver. Those things go for kilometers, and the closest drill hole was almost two kilometers away. From a CRD perspective, we go 'This is a priority target', but from a gold perspective wasn't considered a priority."

The Investment Thesis for Reyna Silver

• Proven technical team: Reyna Silver's management and advisors have a track record of major CRD discoveries, including MAG Silver's Juanicipio deposit. This expertise gives the company a competitive edge in identifying and advancing top-tier CRD projects.
• District-scale potential: All four of Reyna Silver's projects represent district-scale opportunities in prolific silver and gold trends. Gryphon is particularly prospective, with the potential to host a large, high-grade CRD system in the heart of Nevada's Carlin Trend.
• Systematic exploration approach: Reyna Silver employs a proven, multidisciplinary exploration methodology to identify the most prospective parts of CRD systems. This increases the odds of success while optimizing drill targeting.
• Multiple discovery opportunities: With two drill-ready projects in Nevada and Mexico, Reyna Silver offers investors multiple shots at a major discovery. Positive drill results from any project could be a significant catalyst for the stock.
• Attractive entry point: Reyna Silver's current market capitalization of C$36 million is modest relative to the company's portfolio and discovery potential. The upcoming drill program at Griffin Summit could provide a favorable risk/reward setup for investors.

Reyna Silver represents a compelling speculation for investors seeking exposure to high-grade silver and gold discovery potential. The company's seasoned technical team, prospective project portfolio and systematic exploration approach position it well for success. With drilling set to commence at the Gryphon project this summer, Reyna Silver could be on the cusp of a major CRD discovery in the heart of Nevada's Carlin Trend.