Baroyeca Gold & Silver Inc. provide an update on the Santa Barbara Gold Project in Bolivar, Colombia. The National Mining Agency (Agencia Nacional de la Mineria, ANM) by means of Resolution #465 dated September 2, 2022, approved the transfer of 214.3345 hectares to Minera La Fortuna SAS, a 100% Colombian subsidiary of Baroyeca Gold & Silver Inc. which will be registered with the plate number 0- 439C1 (Santa Barbara South). Baroyeca is focused on continuing to improve access infrastructure to the Mariana mine, providing road access directly into the mine portal, and construction of ancillary service infrastructure and buildings.

The adit has been secured and reinforced with timber beams and the collapsed zone under the artisanal shaft is being sealed, secured and circumvented drifting a parallel curved tunnel in fresh rock to reach the other side where the mineralized vein is exposed. Baroyeca is preparing for a 1,500-meter drill program at the Santa Barbara project to test the down dip and along strike extensions of the known vein systems anticipated to start before the end of November, 2022. The Company's Mining Engineering Team continues working to improve ground access to the Mariana mine and conducting underground tunnel upgrades to accelerate access to the fresh (unaltered) part of the vein below the saprock boundary.

Baroyeca will continue with the bulk sampling /channel sampling in this area of the project immediately west of the Pilot Processing Plant. Rock samples are shipped by transport truck in sealed woven plastic bags to SGS sample preparation facility in Medellin, Colombia for sample preparation and analysis. SGS operate according to the guidelines set out in ISO/IEC Guide 25.

Gold is determined by fire-assay fusion of a 50 g sub-sample with atomic absorption spectroscopy (AAS). Samples that return values >10 ppm gold from fire assay and AAS are determined by using fire assay and a gravimetric finish. Silver is analyzed by inductively- coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion.

Silver is determined by ore grade assay for samples that return >500 ppm.