Tier One Silver Comments on Recent Promotional Activity Pursuant to OTC Markets Request

VANCOUVER, September 23, 2022 - Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) ("Tier One" or the "Company") is commenting on its recent investor communication efforts, which have included attendance at resource conferences, a digital marketing campaign and other marketplace outreaches. On September 19, 2022, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and the Common Shares traded on the OTCQB Marketplace and requested that the Company provide investors with a full overview of its promotional activities.

On September 12, 2022, the Company announced that it would be engaging the services of Native Ads Inc. ("Native Ads"), a firm of digital media experts based out of Vancouver. The Company's engagement of Native Ads was part of a comprehensive advertising program initiated by the Company that was designed to build mineral project familiarity and general corporate recognition using online investor focused content platforms. Native Ads works with numerous other content distribution platforms for the dissemination of content, including Market Jar Media Inc. ("Market Jar"). Market Jar produced a report on the Company that was disseminated through MicroSmallCap.com, owned by Market Jar, and includes factual statements regarding the Company, the Company's Curibaya and Hurricane Silver projects and its exploration plans, derived from the Company's regulatory filings at www.sedar.com, as well as statements regarding the prospective growth potential of the Company. The Company does not have a direct relationship with Market Jar, which is a vendor of Native Ads.

On September 13-16, 2022, the Company attended the Precious Metals Summit in Beaver Creek, where there was a full itinerary of meetings with resource investors, analysts and bankers. The Company also gave a corporate presentation, which can be viewed here: https://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2022/09/15/tier-one-silver-inc/play/stream/34840

On September 18, 2022, the Company's CEO, Peter Dembicki, sat down with influential resource investor, Jay Martin of Cambridge House, a resource issuer forum, to provide an update on the Company's exploration activities at its projects in Peru and upcoming news, which can be viewed here: https://www.youtube.com/watch?v=Q3JfYKM3GII

On September 19, 2022, the Company engaged Stanford & Turner Marketing Group to assist with disseminating information about the Company, its projects and the junior resource business.

Coincident with these recent promotional activities, the Company observed a modest increase in trading volume, which may or may not be attributed to these communication programs. Trading may also have been influenced by the Company's September 12, 2022 news release, announcing the commencement of geophysical surveying at the Company's Curibaya project, and trading in markets generally. The Company does not believe that the noted increase is inconsistent with Tier One's recent trading history over the past several months.

Tier One's management reviews and approves all content distributed by Native Ads and its service providers, as well as Stanford & Turner Marketing Group, through email communications and does not believe the statements in any of the material distributed to date were false or misleading. The Company had editorial control over the content in the materials distributed. All content distributed by Native Ads and its service providers is distributed through direct engagements by the Company, and the Company is solely responsible for the payment of these service providers. After due inquiry, the Company is not aware of any promotional materials that have been distributed by any of the Company's directors, officers, controlling shareholders or third parties outside the scope of these engagements. The Company does caution investors that statements regarding the Company's growth potential are prospective and should be viewed with careful consideration. All information disseminated is supported by Tier One's regulatory filings, which can be downloaded from www.sedar.com.

Ivan Bebek, the Chairman of the Company has purchased 50,000 common shares of the Company in the past 90 days at prices ranging from $0.33 to $0.39 per share. To the best of the Company's knowledge after due inquiry, no other officer, director or controlling shareholder of the Company, nor any third-party service provider named in this news release, has purchased or sold any shares of the Company within the past 90 days. Investors are reminded that the Company's officers and directors file insider reports under Canadian securities laws disclosing any transactions in the Company's shares, and that these reports, including reports on Mr. Bebek's purchases, can be viewed at www.sedi.ca.

Tier One did not issue shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.

Over the last twelve months, the Company has also worked with Swiss Resource Capital to distribute news and company updates to European networks.

ON BEHALF OF THE BOARD OF DIRECTORS OF Tier One Silver Inc.

Peter Dembicki
President, CEO and Director

For further information on Tier One Silver Inc., please contact Natasha Frakes, Vice President of Communications at (778) 729-0600 or info@tieronesilver.com

About Tier One

Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success. The Company's exploration assets in Peru include: Hurricane Silver, Coastal Batholith, Corisur and the flagship project, Curibaya. For more information, visit www.tieronesilver.com.

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.

SOURCE: Tier One Silver Inc.