Fabled Continues To Intercept Mineralized Structure and Breccia, Intensity And Grade Clearly Increases with Depth

VANCOUVER, November 2, 2021 - Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO; OTCQB:FBSGF, and FSE:7NQ) announces the results of surface diamond drilling from the upgraded 14,200 -meter drill program on the "Santa Maria" Property in Parral, Mexico.

Peter J. Hawley, CEO and President, remarks, "We are pleased to announce additional drill assay results for surface diamond drill hole SM20-37 which is drilled at depth under drill fence SM20-28, SM20-29 and SM20-30. SM20-37 continued to intercept the previously encountered dike and related breccia, and clearly demonstrates gold, silver and base metal enrichment, such as lead, zinc and copper, along with grade and amounts of sulphides, each of which are increasing with depth." See Figure 1 below.

Figure 1 - Longitudinal View of Area of Current Drilling

The fence of drill holes SM20-28, 29 and 30 were successful in intercepting the main gold structure, dike and related breccias at vertical depths of -100, -150, and -200 meters, respectively.

Hole SM20-30 intersected a base metal feeder type mineralization in breccia and correlates with hole SM20-29, 50 meters above and reported a grade of 1.57 g/t Au with 202.76 g/t Ag Eq, 3.68% Pb, 14.30% Zn and 0.14% Cu. See Photo 1.

Photo 1- Hole SM20-30; Base Metal Feeder Mineralization

SM20-37

Surface definition diamond drill hole SM20-37 was drilled from the same collar, or set up as previous holes SM20 - 28, 29, 30, at an angle or dip of -70 degrees for a total length of 366 meters. The target was to hit the feeder breccia zone and related mineralized dike at a vertical depth of -300 meters, -100 meters below the hole 30 intercept.

From 288.2 - 340.9 meters a weakly mineralized diorite dike was encountered over the 52.7 meters, except for a brecciated section. From 313.70 - 322.5 meters of quartz cemented, lithic poor, hydrothermal breccia hosted in the diorite dike with semi-massive to massive Sulphide mineralization such as sphalerite, galena, pyrite and chalcopyrite.

This 8.8 meter section reported 0.56 g/t gold, 81.82 g/t Ag Eq, 1.33% lead, 3.27% Zinc and 0.14% copper with numerous high grade section with silver credits as high as 225.68 g/t Ag Eq, lead credits as high as 3.33%, zinc credits as high as 8.38% and copper as high as 0.38%

See Figure 2, Table 1 and Photos 2,3 and 4 below.

Figure 2 - Cross Section SM20 - 37

Worthy of note are the base metal credits in addition to the gold and silver.

Table 1- Drill hole SM20- 37 Assay Results

• ** Ag Equivalent ("Ag Eq") grade is calculated using $20 per ounce Ag and $1,600 Au

Photo 2 - SM20-37;

Photo 3 - SM20-37

Photo 4 - SM20-37; Note Sphalerite Content

Definition diamond drill hole SM20-38 has been designed to drill down the dike structure to test the base metal feeder at -375 meters below surface, approximately -75 meters deeper than hole SM20-37. Hole SM20-38 drilled at a dip or angle of -75.5 degrees for a total length of 451.5 meters. Of particular interest is the behavior of the mineralizing system with depth, type of mineralization and related alteration halos. This hole plus holes SM 20 - 28, 29, 30 and 37 will give a comprehensive detailed view of this section and should provide high value material for resource consideration. See Figures 1 and 3.

Figure 3 - Cross Section SM20 - 38

QA QC Procedure

Analytical results of sampling reported by Fabled Silver Gold represent core samples that have been sawn in half with half of the core sampled and submitted by Fabled Silver Gold staff directly to ALS Chemex, Chihuahua, Chihuahua, Mexico. Samples were crushed, split, and pulverized as per ALS Chemex method PREP-31, then analyzed for ME-ICP61 33 element package by four acid digestion with ICP-AES Finish. ME-GRA21 method for Au and Ag by fire assay and gravimetric finish, 30g nominal sample weight.

Over Limit Methods

For samples triggering precious metal over-limit thresholds of 10 g/t Au or 100 g/t Ag, the following is being used:

Au-GRA21 Au by fire assay and gravimetric finish with 30 g sample.

Ag-GRA21 Ag by fire assay and gravimetric finish.

Fabled Silver Gold monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals.

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (NYSE American and TSX: AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

Mr. Peter J. Hawley, President and C.E.O.
Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com

For further information please contact:

info@fabledfco.com

The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital

on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

SOURCE: Fabled Silver Gold Corp.