Fabled Intercepts 2,269.26 g/t Silver in Newly Defined Bonanza Grade Mineralized Shoot

Vancouver, British Columbia – Fabled Silver Gold Corp. (“Fabled” or the “Company”) (TSXV: FCO; OTCQB: FBSGF, and FSE: 7NQ) is pleased to announce updates of diamond drilling from the upgraded 9,200 meter drill program on the “Santa Maria” Property in Parral, Mexico.

Peter J. Hawley, CEO and President, remarks, “As I mentioned in previous releases, we are exploring areas never explored before, with new ideas to test our structure-on-structure theory over the Property and every hole regardless of mineralization tells a piece of the story and adds to the understanding of the emplacement of the various pulses of mineralization and their relationship to orientation of structures.

We are systematically taking what was previously thought of as simple E-W high grade structure and re-evaluating, with numerous successes to date, in order to develop our new concept.

P. Hawley continues,” Three silver, zinc bearing new structures found in drilling to date, in addition to other silver bearing structures as we continue to zero in on additional new discoveries on the Santa Maria Property bodes well for the rest of the program. All this work has led us to the location of Drill Holes 14 and 15.

The exceptional bonanza silver grade  of 2,269.26 g/t silver, (2.269 kilo’s, 72 troy ounces) demonstrates that we are on the right track to the vector process of starting to define our drill targets.

It is important to point out that silver is the driver of the potential economics of the project but now not only the lead and zinc credits have increased substantially  but the gold credits add further enhancement.

This is the deepest hole in the area at -220 meters vertically and open in all directions.

Table 1- Drill hole SM20-15 Assay Results

Drill Hole	From m	To m	Width m	Au g/t	Ag g/t	AgEq* g/t	Pb %	Zn %	Cu %
SM20-15	209.20	212.60	3.40	1.24	223.82	287.36	0.82	2.82	0.09
Includes	209.20	209.40	0.20	0.52	141.00	167.75	0.84	1.33	0.02
Includes	209.40	210.80	1.40	0.87	71.70	116.61	0.52	0.78	0.05
Includes	210.80	211.20	0.40	2.05	148.00	253.45	1.43	5.48	0.14
Includes	211.20	212.40	1.20	1.39	116.00	187.50	0.90	4.57	0.08
Includes	212.40	212.60	0.20	1.93	2,170.00	2,269.28	1.21	2.80	0.36
	212.60	216.00	3.40	0.58	35.47	65.24	0.17	0.56	0.03

Figure 1 – Cross Section for Drill Hole SM20-15

Photo 1: SM20-15 Drill Core at 212.4 meters grading 2.269 kilos  AgEq (72 troy ounce) PLUS 1.21% Pb PLUS 2.8% Zn

Photo 2: SM20-14 Drill Core at 182.8 meters 301.44 g/t AgEq (+9 troy ounce) PLUS 2.09% Pb PLUS 5.51% Zn

 

Peter J. Hawley, CEO and President, reports, “Drill Hole SM20-14 was the break thru hole in the recognition of the high-grade shoot or plunge of mineralization reporting over 300 g/t Ag Eq. (+9 troy ounces) in an area which has reported other high-grade intercepts of up to 800 g/t silver. This hole tied in the plunge of the trend of mineralization.”

Table 2- Drill hole SM20-14 Assay Results

Drill Hole	From m	To m	Width m	Au g/t	Ag g/t	AgEq* g/t	Pb %	Zn %	Cu %
SM20-14	172.50	185.15	12.65	0.23	35.09	46.92	0.15	0.45	Nil
Includes	180.35	184.05	3.70	0.32	67.19	83.65	0.43	1.23	Nil
Includes	182.80	184.05	1.25	0.56	120.00	148.81	1.15	3.37	Nil
Includes	182.80	183.20	0.40	0.646	268.00	301.44	2.09	5.51	Nil

• ** Ag Equivalent (“Ag Eq”) grade is calculated using $20 per ounce Ag and $1,600 Au

figure 2 – Cross Section for Drill Hole SM20-14

 

ADDITIONAL PAST DRILL HOLE ASSAYS

As previously reported, we re-entered into hole 8B to extend the hole to a barren rock unit and pleased to report that we intersected another new zone which has reported 1.5 meters grading 140.06 g/t silver eq. See Table 3 below.

Table 3: Drill Hole SM20-8B Assay Results

Drill Hole	From m	To m	Width m	Au g/t	Ag g/t	AgEq* g/t	Pb ppm	Zn ppm	Cu ppm
SM208B***	199.10	215.40	16.30	0.03	7.00	8.54	92	303	20
Includes***	201.00	203.10	2.10	0.05	12.00	14.57	287	331	24
Includes***	210.60	215.40	4.80	0.05	13.00	15.57	86	453	32
Includes***	226.10	227.60	1.50	0.04	60.00	62.06	291	527	35
***	227.60	234.00	6.40	0.02	4.00	5.03	101	253	24
	281.80	283.30	1.50	0.04	138.00	140.06	455	1,585	141

• ** Ag Equivalent (“Ag Eq”) grade is calculated using $20 per ounce Ag and $1,600 Au
• *** Previously report in April 13, 2021 Release

The important structural information collected from holes 8B and 10 allowed the Company to vector in on the movement components and as such collar drill hole SM20-11 approximately 200 meters to the northeast of holes 8-10 and was drilled at right angle or 90 degrees to the north – south trending faulting and encountered multiply zones of mineralization, which has now increased to over 30 meters in width and now is called the “ North Vein Structure.”

Table 4: Drill Hole SM20-11 “North Vein Structure” Assay Results

Drill Hole	From m	To m	Width m	Au g/t	Ag g/t	AgEq* g/t	Pb ppm	Zn ppm	Cu ppm
SM20-11	62.80	99.20	30.60	0.042	30.04	31.20	514	1,586	44
Includes	80.50	95.50	15.00	0.03	64.00	65.65	776	1,968	45
Includes	65.00	66.20	1.20	0.041	108.00	110.11	849	2,670	50
Includes***	91.10	95.50	4.40	0.062	83.50	86.69	237	458	33
***	101.00	103.20	2.20	0.017	117.70	118.57	85	206	27
***	121.80	125.40	3.60	0.036	40.80	42.65	44	137	29

• ** Ag Equivalent (“Ag Eq”) grade is calculated using $20 per ounce Ag and $1,600 Au

 

The New “North Vein Structure” and its mineralization is open in all directions and will  be followed up during the summer drill campaign.

Drill holes SM20-12 and 13 were pure exploration hole testing the northern IP geophysical conductor IPSM-03. The IP response has been explained by the presence of 10 - 40%  barren pyrite within a hornfels unit. Hole 12 had no values of interest and hole 13 reported weakly elevated silver and zinc.

This will conclude the testing of this anomaly in this area.

Table 5- Drill Hole SM20-13 Assay Results

Drill Hole	From m	To m	Width m	Au g/t	Ag g/t	AgEq* g/t	Pb ppm	Zn ppm	Cu ppm
SM20-13	67.00	71.20	4.20	0.029	16.00	17.49	229	243	Nil
	210.80	220.70	9.90	0.031	11.00	12.59	194	563	Nil
	267.00	272.80	5.80	0.054	30.00	32.78	1,565	1,625	Nil
	432.00	435.35	3.35	0.026	10.00	11.34	1,879	1,001	1,992

 

FUTURE DRILLING UPDATE

The Company has now completed drill holes SM20-01 – 18 for a total of approximately 3,250 meters of the increased 9,200 meter drill program. Hole SM20-19 is currently in progress.

Undergroud drilling has began and hole SMUG-01 has been completed and hole 02 is in progress.

QA QC Procedure

Analytical results of sampling reported by Fabled Silver Gold represent core samples that have been sawn in half with half of the core sampled and submitted by Fabled Silver Gold staff directly to ALS Chemex, Chihuahua, Chihuahua, Mexico. Samples were crushed, split, and pulverized as per ALS Chemex method PREP-31, then analyzed for ME-ICP61 33 element package by four acid digestion with ICP-AES Finish. ME-GRA21 method for Au and Ag by fire assay and gravimetric finish, 30g nominal sample weight.

Over Limit Methods

For samples triggering precious metal over-limit thresholds of 10 g/t Au or 100 g/t Ag, the following is being used:

Au-GRA21 Au by fire assay and gravimetric finish with 30 g sample.

Ag-GRA21 Ag by fire assay and gravimetric finish.

Fabled Silver Gold monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals.

 

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (NYSE American and       TSX: AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

 

Mr. Peter J. Hawley, President and C.E.O.

Fabled Silver Gold Corp.

Phone: (819) 316-0919

moc.ocfdelbaf@retep

For further information please contact:

moc.ocfdelbaf@ofni

The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.