2019 News Releases

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IMPACT Silver Corp. ("IMPACT" or the "Company") is pleased to announce that it has completed the second tranche (the "Second Tranche") of the non-brokered private placement originally announced on June 19, 2019 and subsequently updated on July 8, 2019 and July 18, 2019 (the "Private Placement"). At closing of the Second Tranche, the Company received aggregate gross proceeds of $714,279.80 from the issuance of 2,747,230 units (the "Units") of the Company at a price of $0.26. Each Unit will comprise one common share in the capital of the Company (each a "Share") and one common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Share at a price of $0.30 and expires in 36 months from the date of closing. All securities issued under the Private Placement will be subject to a hold period expiring four months and one day from the applicable closing date.

Frederick Davidson, CEO and President of IMPACT comments "Given the substantial interest in silver and rising price of the metal recently, we aim to re-invigorate our exploration activities on one of the largest historical and prolific high grade silver and gold districts in Mexico with the proceeds of the financing."

As announced on July 18th, the Company intends to complete a third tranche of the Private Placement of up to 10,344,828 units at an increased price of $0.29 per unit (each a "Third Tranche Unit") consisting of one Share and one common share purchase warrant exercisable for a 36-month period following their issuance at an exercise price of $0.385 per Share, for additional gross proceeds of up to $3,000,000.

In consideration for their services, the Company has paid finders fees to Raymond James Ltd. and Canaccord Genuity Corp. in the amount of $18,200 and $12,867.40, respectively. Such cash commissions equal 7% of the gross subscription proceeds raised from certain subscribers in the Private Placement.

The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including final acceptance of the TSX Venture Exchange.

About IMPACT Silver:

IMPACT Silver Corp. is a successful silver explorer-producer with two processing plants on adjacent districts within its 100% owned mineral concessions covering 357 km2 in central Mexico with excellent infrastructure and a supportive labor force. Over the past fourteen years over 9 million ounces of Silver has been produced, generating revenues of $168 million, with no long-term debt. In the historic Royal Mines of Zacualpan Silver District three underground silver mines feed the central 535 TPD Guadalupe processing plant. To the south, in the Mamatla District the Capire processing plant is currently rated at 200 tpd, but is expandable. Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com.

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

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 gross proceeds from the issuance of Third Tranche Units and the use of proceeds of the Private Placement.

Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitations, the Company's inability to raise sufficient interest in connection with the issuance of Third Tranche Units, the Copmany's inability to secure the required Exchange acceptance for the final acceptance of the Private Placement offering, offering 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. IMPACT does not assume the obligation to update any forward-looking statement.

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.