Outcrop Silver Appoints Sunil Sharma As Chief Financial Officer

VANCOUVER, Oct. 5, 2022 - Outcrop Silver & Gold Corp. (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG1) ("Outcrop") is pleased to announce the appointment of Sunil Sharma to the position of Chief Financial Officer as of November 1, 2022. Mr. Sharma has over 20 years of experience in finance and accounting with public and private companies, having started his career in public practice. He has extensive experience in producing mines and mineral exploration companies. He has held progressively senior accounting positions at copper producers Huckleberry Mines and Taseko Mines Limited. Most recently, he held the position of Controller at Trilogy Metals Inc., a NYSE-American listed mineral exploration company, where he was responsible for all aspects of financial reporting and compliance. Mr. Sharma holds a Master of Business Administration degree from Simon Fraser University and is a Chartered Professional Accountant.

"I am pleased to announce another great addition to the Outcrop leadership team with the appointment of Mr. Sharma," comments Joseph Hebert, Chief Executive Officer. "Sunil's expertise and diverse experience will be an enormous asset to Outcrop as we steadily advance Santa Ana. On behalf of the Board of Directors I would like to thank Paul Taggar for his contributions as CFO and wish him all the best."

Outcrop has granted 900,000 incentive stock options to new employees and consultants at an exercise price of $0.25 expiring on October 5, 2027.

Outcrop is rapidly advancing exploration on five silver and gold exploration projects with world-class discovery potential in Colombia. Outcrop is currently drilling and expanding the Santa Ana historic high-grade silver district. These assets are being advanced by a highly disciplined and seasoned professional team with decades of experience in Colombia.

ON BEHALF OF THE BOARD OF DIRECTORS

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential", "we believe", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE Outcrop Silver & Gold Corp.