Vancouver, British Columbia--(Newsfile Corp. - February 16, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") announces drill results from the Aurora 2 Zone located 1.3 kilometers northeast of the Capire processing plant and 16 kilometers south of IMPACT's other active mining and processing operations at the Royal Mines of Zacualpan in central Mexico. The mineralization at Aurora 2 consists of silver enriched volcanogenic massive sulphide mineralized ("VMS") lenses and is being explored as a potential source of additional feed for the Capire processing plant. These results extend the Aurora 2 zone to the west. The zone has historically been grid drilled with 72 drill holes, and remains open for expansion to the west and northeast. The drilling was carried out with one of IMPACT's man portable hydraulic surface diamond drill rigs. Highlights from the new Aurora 2 drilling include the following:
| Hole ID | From (m) | To (m) | Interval (m) | True Width (m) | Ag g/t | Au g/t | Pb % | Zn % |
| AU22-01 | 120.60 | 123.00 | 2.40 | 2.39 | 106.06 | 0.42 | 0.33 | 0.76 |
| AU22-04 | 86.74 | 88.20 | 1.46 | 1.44 | 63.50 | 0.21 | 0.03 | 0.08 |
| AU22-04 | 100.85 | 104.60 | 3.75 | 3.73 | 65.51 | 0.40 | 0.22 | 0.48 |
| AU22-05 | 138.15 | 145.70 | 7.55 | 7.48 | 128.11 | 0.42 | 0.76 | 1.84 |
| AU22-07 | 169.75 | 170.80 | 1.05 | 1.01 | 138.00 | 0.49 | 0.50 | 1.11 |
| AU22-07 | 200.00 | 208.05 | 8.05 | 7.95 | 63.10 | 0.52 | 0.91 | 2.81 |
| AU22-07 | 222.85 | 225.00 | 2.15 | 2.11 | 50.67 | 0.15 | 0.47 | 1.88 |
| AU22-08 | 156.80 | 159.25 | 2.45 | 2.38 | 142.21 | 0.37 | 0.24 | 0.51 |
| AU22-08 | 211.00 | 214.35 | 3.35 | 3.28 | 34.08 | 0.24 | 0.36 | 1.25 |
All drill holes in the table above were drilled vertically. Other recent drill results from Aurora 2 were low grade. Previous drilling at Aurora 2 included intersections of 625 g/t Silver over 1.88 m and 420 g/t Silver over 2.50 m (see IMPACT news release dated December 9, 2013). Drilling is also continuing with IMPACT's underground rig in the operating Mina Grande mine located in the Cuchara area, and field exploration is continuing on multiple targets. Plans are being made for a large drill program in 2023.
ABOUT IMPACT SILVER
IMPACT Silver Corp. is a successful silver-gold explorer-producer with two processing plants on adjacent districts within its 100% owned mineral concessions covering 211km2 in central Mexico with excellent infrastructure and local labor force. Over the past 16 years, IMPACT has produced over 11.5 million ounces of silver, generating revenues over $230 million, with no long-term debt.
At the Royal Mines of Zacualpan Silver District, three underground silver mines and one open pit mine feed the central Guadalupe processing plant. To the south, in the Mamatla District, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over 4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016 for details and QP statement); Company engineers are reviewing Capire for a potential restart of operations. With 16 years of exploration successes leading to production cash flows, IMPACT has shown the Zacualpan Silver-Gold District to be endowed with many high-grade silver and gold zones and has placed multiple zones into commercial production.
Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at https://www.linkedin.com/company/impactsilver
Qualified Person and NI 43-101 Disclosure
Silvia Kohler, P.Geo. is a "qualified person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 681 0172 or inquiries@impactsilver.com
(778) 887 6489 Direct
Neither 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 release.
Forward-Looking and Cautionary Statements
This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements with respect to the expected use of proceeds of the Private Placement.
Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein including potential renewed production at the Capire processing plant. IMPACT does not assume the obligation to update any forward-looking statement except as required by law.
The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
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