Nevada Silver Corporation Announces Results of Annual and Special Meeting of Shareholders

• Elected as directors Mr. Oliver Lennox-King, Ms. Megan McElwain, Mr. John Kutkevicius, Dr. Henry Sandri and Mr. Gary Lewis;
• Reappointed Baker Tilly WM LLP, Chartered Accountants, as the Company's auditors;
• Approved the continued use of the Company's stock option plan in accordance with TSX Venture Exchange ("TSXV") policies;
• Approved an amendment to the articles of the Company to add a provision permitting the directors to appoint one or more additional directors between annual meetings of shareholders; and
• Approved approved the change of name of the Company to "Electric Metals (USA) Limited", or such other name as determined by the Board of Directors and as may be acceptable to the regulatory authorities (the "Name Change").

Toronto, Ontario--(Newsfile Corp. - May 8, 2023) - Nevada Silver Corporation  (TSXV: NSC) (OTCQB: NVDSF) ("NSC" or the "Company") is pleased to announce the results of its annual and special meeting of shareholders held on 4^th May 2023 (the "Meeting"), the results of which are summarized above.

Following the Meeting, the Board of Directors of the Company resolved to proceed with the Name Change. Following receipt of all regulatory and stock exchange approvals, the Company's stock is expected to begin trading under its new name and TSXV ticker symbol of "EML". The Company will make a further announcement when such date has been determined.

About Nevada Silver Corporation

Nevada Silver Corporation (TSXV: NSC) (OTCQB: NVDSF) is a U.S.-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy. NSC's principal asset is the Emily Manganese Project in Minnesota, which has been the subject of considerable technical studies, with US$25 million invested to date. The Company's mission in Minnesota is to become a domestic U.S. producer of high-purity, high-value manganese metal and chemical products for supply to U.S. energy, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations, and with no domestic supply or active mines in North America, this represents a significant opportunity for NSC shareholders. In addition, NSC owns and operates the Corcoran Silver-Gold Project in Nevada. Both Corcoran and Emily have been the subject of National Instrument 43-101 compliant mineral resource estimates.

Neither the 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.

For further Information please contact:
Gary Lewis, Group CEO & Director
+1 (647) 846 5299 - gl@nevadasilvercorp.com

Forward-Looking Statements: Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and Nevada Silver Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any securities that may be described herein and accordingly undue reliance should not be put on such.

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