VANCOUVER - Fabled Silver Gold Corp. ('Fabled' or the 'Company') (TSXV: FCO; OTCQB: FBSGF, and FSE: 7NQ) reports that it has completed the planning for a Phase 2 exploration diamond drill program on the Santa Maria Property in Parral, Mexico.

Peter Hawley, President, CEO reports; 'As mentioned before, the past year of exploration diamond drilling, underground diamond drilling, definition diamond drilling, and finally surface mapping and sampling, has been not only aggressive, but has resulted in over 6,900 samples collected and analyzed. This massive input of data has led our stream lined analytical team to new important understandings of the structural and mineralization controls on the western sector of the property where approximately 80% of our efforts over the past year were focused.

Before we report our new findings, I would like to extend our thanks to our Project Manager Joaquin Rodriguez and senior geologist Edgar Rojas for their contribution to these important steps forward.'

When the Company embarked on this project, we were of the opinion this was a low sulfidation epithermal system deposit and contained two veins of interest. The Santa Maria and Santa Maria Dos veins.

Following the completion of the Phase 1 drilling we have now had time to 'stop chasing the bit' and have compiled the total data collected. Through analysis of the data generated many things have become clear.

The veins thought to be the Santa Maria veins are in fact mineralized breccias at the contacts or within diorite dikes. Furthermore, there are different generations of structural / mineralization controls and some of the 2021 exploration drilling intercepted one of the secondary mineralized dike structures which is the Santa Maria off-set to the northeast which remains open in all directions, such as the last hole drilled on the Santa Maria deposit on the western sector of the property, where we intercepted 21.90 meters grading 5.29 g./t Au in 349.21 g/t Ag Eq with an astonishing 4,821.98 g/t Ag eq with 86.10 g/t Au.

Using the valuable 2021 drilling information, we will apply the new structural interpretation and the Santa Maria signature and controls to the rest of the property, paying particular attention to the mineralized structures / breccias. Due to the association with the diorite dikes the present focus of sampling is the dikes, the mineralization found within or with a relationship to them.

Detailed field mapping and structural analyses led by our senior team including our Project Manager has resulted in the below, property wide interpretation in preparation for Phase 2 exploration drill targets.

As previously reported past surface sampling of the 'Northeast Structure' has reported surface sampling of 1.25 meters of 72.12 g/t Ag Eq and 2.20 meters grading 116.20 g/t Ag Eq including 206.80 g/t Ag Eq over 0.80 meters. In addition, it is now realized that drill hole SM20-11 intercepted the Northeast secondary mineralized structure and reported 3 separate mineralized zones; Zone 1 from 62.80 - 95.59 meters grading 31.72 g/t Ag Eq over the 26.90 meters including 1.20 meters grading 110.11 g/t Ag Eq; Zone 2 from 101 - 103.20 reporting 118.57 g/t Ag Eq over the 2.20 meters and the third Zone which returned 3.50 meters grading 40.80 g/t Ag Eq.

The 2022 field work and observations for the final planning of the Phase 2 Exploration Diamond Drill Program. To support the drill hole targeting the following has been completed.

258 new surface samples taken to date

11,388 square meters of detailed geological mapping

237 structural stations for detailed structural interpretations

The 56 sample results listed below are partial surface sampling results from the field evaluations using a 30 g/t silver cut-off, as there are too numerous results to report.

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.

Contact:

Tel: (819) 316-0919

Email: peter@fabledfco.com

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.

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