COMPANY PRESS RELEASE

Silver Wolf Exploration Ltd. (TSXV:SWLF) is pleased to announce that it has received the assay results from three hundred and thirty six (336) grab samples collected during the 2nd phase of the exploration program at the Ana Maria Property, located 21 kilometres (km) northwest of the City of Gómez Palacio and the adjacent City of Torreón. The property consists of 9 mining concessions encompassing 2,549 hectares (ha).

“Our field geologists have undertaken a sampling program across the identified skarn mineralization where it outcrops on surface. In addition, we have continued the comprehensive mapping of the skarn at the contact between the intrusive and limestone” said Peter Latta, President. “The results of these samples indicate there is the potential that the skarn structure may host economic mineralization. These results support our belief in the possibility of making a discovery along the 4.1 km contact. We will layer in data from geophysical surveys and continue with the mapping and sampling fieldwork as we work to refine our drill targets for later this year.”

Ana Maria Exploration Work

The Ana Maria Central and South claim groups are shown in Figures 1 and 2 with the location of samples that have assays of copper, lead and zinc grades greater than 0.1% as well as all the highlighted samples listed Table 1 and 2, respectively. The numbers listed in the figures correspond to the sample number in the full list available on our website and in the abbreviated Table 1 and 2.

The main focus of the mapping and sampling to date has been on the Ana Maria Central claim group as a skarn structure has been identified outcropping on surface with widths ranging from 0.5 – 60 m along the 4.1 km long contact. In addition, the lower claim hosts structures that are consistent with the carbonate replacement deposit (CRD) model and displays mineralization that may be related to the intrusive which warrant further investigation. A detailed list of the work performed at the property to date is included in Silver Wolf’s August 3^rd press release, which can be viewed on our website at Silverwolf.com/news releases. In summary, the Silver Wolf team has been following the plan laid out in the NI 43-101 technical report as filed on SEDAR. Future work will include performing a geophysical survey using electromagnetic methods to identify anomalies along the mapped skarn structure, refine drill targets in addition to continued mapping and sampling work. Updates will be provided as the information becomes available.

Highlights from Ana Maria Central and Ana Maria South are indicated in the tables below. The complete list of the samples are available at this link: Master List of Grab Samples.

Table 1: Significant highlights from Ana Maria Central

Figure 1: Ana Maria Central Claim Showing Sample Numbers with Significant Results

Table 2: Significant highlights from Ana Maria South

Figure 2: Ana Maria Southern Claim showing Sample Numbers with Significant Results

As indicated in our August 3, 2021, press release, we engaged Spectir Advanced Hyperspectral Solutions to provide hyperspectral data via drone flight data acquisition. The results were positive and helped identify the skarn contact along the length of the intrusive zone within our claims. This provided specific locations along the 4.1 km long skarn contact to follow up with surface mapping and prospecting with our field geologists.

The field mapping, which was helped by the hyperspectral data acquisition and, previous to that, the Aster satellite work, has allowed for near complete identification of the skarn, on surface, within our claim. Figure 3 shows the skarn structure over a cross section from the limestone host rocks across the skarn to the granite intrusive. With the results of this sampling, mineral contouring maps have been developed and are shown in figures 4-8. These maps show the intensity and reach of the respective element being mapped. The grade contours represent anomalies, that, when overlayed with the anomalies generated in the upcoming geophysical surveys, will provide a basis for prioritizing drill targets.

Figure 3 -Rock Samples Across the Skarn from Limestone to Granite

Figure 4 – Gold Grade Contour Map

Figure 5 – Silver Grade Contour Map

Figure 6- Lead Grade Contour Map

Figure 7- Zinc Grade Contour Map

Figure8- Copper Grade Contour Map

Sampling and Assay Methods

Grab samples are selective in nature, and do not necessarily reflect the general geology of the Ana Maria property. Samples were submitted to the SGS Laboratory facility in Durango, Mexico. Gold is assayed by fire assay with an AA finish. Multi-element analyses are completed using SGS ICP14B methods. Any copper, manganese or iron samples exceeding 10,000 ppm (1%) are assayed using SGS ICP90Q methods.

Qualified Person

Mr. Garth Kirkham P. Geo., Independent Consultant for Silver Wolf, is a “qualified person” as defined by National Instrument 43-101 and has approved the scientific and technical disclosure in this news release.

For further information please contact Silver Wolf Exploration Ltd. at ph. (604) 682-3701 or visit our website at www.silverwolfexploration.com.

ON BEHALF OF THE BOARD

“Peter Latta”

Peter Latta, P.Eng.
President

Cautionary Note

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on numerous assumptions and involve known and unknown risks, uncertainties, and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Neither the 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 news release.

SOURCE: Silver Wolf Exploration Ltd.