Reyna Silver Corp. announced an update on its 2023 exploration programs at Batopilas, Medicine Springs and Guigui. Results from the previous drilling programs at each project triggered further studies as part of the iterative process implicit in advancing strategic district-scale targeting.

The work on all three projects has resulted in new targets for drilling this year. The company look forward to advancing exploration on all three projects in the coming season, starting with drilling at Batopilas based on detailed geophysics, pioneering sampling and detailed structural studies. Then well be following up 2022 reconnaissance drilling at Medicine Springs with airborne geophysics to help define drill targets for this summer.

The 1,850 ha Batopilas Project encompasses Mexicos historically highest-grade Silver District, which produced 300 Moz at average grades of 1,500 g/t Ag with Native Silver as the main ore mineral. The project seeks significant undiscovered portions of the mineralized system, including previously unrecognized gold-rich mineralization. Initial exploration focused on tracing known structures to the northeast of the historic mining area.

Trenching along these structures revealed Silver mineralization grading 305 g/t to 42,302 g/t Ag, as well as, significant gold mineralization with assays as high as 21.4 g/t Au. This was the first time significant gold was found in the district. Follow-up drilling at Hole BA21-30, intercepted 3.2 m (core length) grading 703 g/t Ag and 3.03 g/t Au and the discovery of the NE-trending Cobriza vein.

Continuing along this northeast trend, Hole BA21-34 intersected 0.25m grading 36.1 g/t Au, verified by Metallic Screen Assaying. Hole BA21-42A in the Orochi area cut 3.65m of 8.1 g/t Au at 180m downhole. These results made it apparent that gold was a new significant element to the Batopilas district.

Understanding how it fits within the district's overall framework is now critical to exploring this famous Native Silver district. The gold mineralization appears to originate from a different mineralizing event that utilized the same structures as the silver mineralization, but the gold mineralization is hosted in quartz veins, unlike the calcite, which hosts the native silver mineralization of the famous Batopilas ore shoots. The spatial overlap provides an exploration opportunity to leverage the gold mineralization to better understand the silver mineralization.

Work conducted since the discovery of mineable widths and grades of gold in Batopilas includes detailed selective sampling program involving over 2,600 samples collected from old mine workings along previously underexplored structures and outcrops. The first 1,500 samples revealed: additional gold mineralization southeast of the historic district; additional structures carrying a combination of gold and silver mineralization; and recognition of surface expressions of mineralized structures. Detailed AMT geophysics to outline major structures and features that may control vein orientation and location of mineralization.

Underground and surface structural studies conducted by expert ore deposits geologists to understand the historic ore shoots' geometry and the mineralization surface expressions- including the newly identified gold-bearing structures. The Reyna Silver team looks forward to drilling again once the final combining of the historical data, drill results, and detailed follow-up work is complete. The preliminary plan is to drill a minimum of 3,000m; logistical preparations are underway and drilling should commence in the coming weeks.