Highlander Silver Reports High Grade Rock Samples & Priority Target Areas at its Politunche Project

Highlights

• 62 additional rock chip samples were collected with 53 samples returning anomalous to bonanza grades ranging from 29.9 g/t AgEq up to 1522.6 g/t AgEq.

• 33 high grade rock samples (historic plus new samples) above 500 g/t AgEq define a significant undrilled target: the "Central Dome Target". The high-grade samples are distributed 750m along a NNW - SSE structural trend where andesitic to basaltic, subvolcanic dome and dyke rocks intrude older, horizontally layered, pyroclastic and volcaniclastic rocks.

• Additional in-fill rock sampling and prospecting by Highlander along the "North Vein Target" has further confirmed potential for high grade, structurally controlled mineralisation for a minimum of 600m along this ENE structural corridor.

AgEq calculations in this press release are based on the following parameters: $1700/oz Au, $20/oz Ag, $3.00/lb Cu, $0.90/lb Pb, $1.20/lb Zn (all prices in US$).

CEO statement

David Fincham (President & CEO) commented "We are very pleased with these high-grade rock sample results which define a significant zone of dome intrusion and mineralisation - the Central Dome Target - that has yet to be drill tested. Dome margins act as fluid conduits and can also provide traps for mineral deposition. Furthermore, this sampling has validated the potential for high grade vein hosted mineralization at the North Vein Target. The company looks forward to developing these targets further towards drilling over the coming year.

Politunche rock sampling

The 2022 rock sampling program at Politunche was designed to achieve the following objectives:

• Test for mineralisation spatially associated with subvolcanic dyke-dome complexes to support development of new targets, and;

• Confirm potential of the North Vein target, where historical drilling by Solitario returned four significant intercepts, the highest grade being 3.95m @ 355.38 g/t AgEq (Table 3).

Results

Sixty-two (62) new rock chip samples were collected where 53 (85.5%) of those samples returned anomalous to bonanza grade values ranging from 29.9 g/t AgEq up to 1522.6 g/t AgEq. Of those same 62 samples 22 (35.5%) ran over 250 g/t AgEq and 5 samples (8.1%) ran over 1000 g/t AgEq. Lead, zinc and gold are significant contributors to metal values in these samples with combined lead plus zinc returning as high as 22.22%. See Table 1 and Table 2, below. As announced in News Release of August 9, 2022, Highlander purchased the complete Solitario Zinc Corp data set, and that information has been integrated into the Company´s data base.

Table 1. 22 highest grade rock samples from the recent program

Table 2. Sampling completed to date at Politunche

Discussion

The highly variable silver to gold ratios in the sampling results suggest at least two mineralising events. This is consistent with a concept introduced in the Company´s News Release of August 9, 2022 where evidence in drill core shows a clear cross-cutting relationship between two distinct styles of mineralisation comprising relatively low grade gold in thin, sheeted and stockwork veining overprinted by a silver-rich polymetallic, intermediate sulfidation, veining and breccia event. Multiple mineralising events are usually present in high grade mineral deposits.

Central Dome Target

At the Central Dome Target 20 rock chip samples returning over 500 g/t AgEq define a zone with 750m strike length coincident with andesitic dome-dyke intrusions. This is interpreted as a NNW - SSE structural corridor which provided a conduit for both subvolcanic dome intrusion and subsequent mineralising fluids. The >250 ppb gold in soil anomaly in the northern part of this target area, generated from historic sampling by Solitario Zinc Corp (see also Politunche project presentation on the Company website) is further supporting evidence for fertile fluid flow. The scale and tenor of this target area warrant follow up; likely through geophysics followed by drill testing (see Figure 1 below).

North Vein Target

Results of historical drilling by Solitario Zinc Corp were first reported in the Company´s News Release of January 19, 2022. Drill holes AZ-001 to AZ-004 were drilled to test mineralisation along the "North Vein Target". Mineralised intercepts encountered in these four, widely spaced drill holes indicate the potential for continuous ENE trending structurally controlled mineralisation for a minimum of 600m along strike. High grade rock samples stepping out from the drill collars supports this concept, The drill intercepts shown in Table 3 below are comparable with economically viable grades in high grade underground mining operations in central Peru and elsewhere.

Table 3.

AgEq calculations in this Table are based on the following parameters: $1700/oz Au, $20/oz Ag, $3.00/lb Cu, $0.90/lb Pb, $1.20/lb Zn (all prices in US$). Widths refer to core length and do not necessarily represent true thickness

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Figure 1. Project geology and location of anomalous samples with priority target areas.

Sampling Quality Control

All Highlander Silver sample assay results have been independently monitored through a quality control / quality assurance ("QA/QC") protocol which includes the insertion of blind Certified Reference Material (CRM or standards). Logging and sampling are completed at Highlander Silver's core handling facility located at the Obrajillo site. Samples are securely transported to CERTIMIN laboratories ("CERTIMIN") sample preparation facility in Lima, Peru.

Silver and other elements are also determined by ICP methods. Samples of more than 10 g/t gold and 100 g/t silver exceeding the limits are re-analysed by fire assay with gravimetric finish by CERTIMIN. Samples with more than 10000 ppm of Cu, Pb, Zn and Mn are re-analysed by CERTIMIN by Atomic Absorption (AA). Highlander Silver is not aware of any other factors that could materially affect the accuracy or reliability of the data referred to herein. CERTIMIN Laboratories is independent of Highlander Silver.

Qualified Person

All scientific and technical information contained in this news release was prepared and approved by Walter La Torre, (Qualified Person), MAusIMM (CP). Mr. La Torre has verified the scientific and technical information disclosed in this news release by reviewing the sampling, analytical and drilling data from the Property.

About Highlander Silver

Highlander Silver Corp. is a mineral exploration company focused on the exploration of silver-polymetallic projects in central Peru, as well as targeting the acquisition of additional mineral projects by leveraging the team's significant experience in Peru and South America more widely. Additional information about Highlander Silver and its mineral projects can be viewed on the Company's SEDAR (www.sedar.com) profile at www.sedar.com and its website at www.highlandersilver.com

Neither the Canadian Securities Exchange (CSE) nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this news release.

For further information, please contact:

David Fincham

Chief Executive Officer

Highlander Silver Corp.

(604) 283 7630
info@highlandersilver.com

Forward-Looking Information

Certain information contained in this news release constitutes "forward-looking information" under Canadian securities legislation. This includes, but is not limited to, information or statements with respect to the future exploration plans of the Company, permitting and timing of future exploration. Such forward looking information or statements can be identified by the use of words such as "anticipates", "plans", "suggests", "targets" or "prospects" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "will" be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties, the actual results of current exploration activities, , changes in project parameters as plans continue to be refined, , accident, labour disputes and other risks of the mining industry, and delays in obtaining governmental approvals or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.