Silver Dollar Resources Inc. announced that, further to its news release of April 11, 2023, it has completed the exercise of its option and now owns a 100% interest in its La Joya silver-copper-gold property (the "Property"). The Property, located in the south-eastern portion of the State of Durango in the Mexican Silver Belt, consists of 15 mineral concessions totaling 4,646 hectares and hosts the Main Mineralized Trend (MMT), Santo Nino and Coloradito deposits. Pursuant to an option agreement (the "Option Agreement") dated August 7, 2020 (the "Effective Date"), as amended by an amending agreement dated March 28, 2023 (the "Amending Agreement"), between the Company and First Majestic Silver Corp.

("First Majestic"), First Majestic granted the Company an exclusive option to acquire an initial 80% interest (the "First Option") and if exercised, a second option to acquire the remaining 20% interest (the "Second Option") in a wholly-owned subsidiary of First Majestic that holds the Property through its wholly-owned Mexican subsidiary by making certain payments, incurring certain expenditures, and issuing securities, as detailed below. In order to exercise the First Option, the Company was required to: a) pay First Majestic a total of $700,000 plus annual holding costs for the Property, of which: i) $300,000 was paid upon execution of the Option Agreement; ii) $200,000 plus annual holding costs was paid before the first anniversary of the Effective Date; and. b) incur exploration expenditures on the Property of $1,000,000 on or before the 60-month anniversary of the Effective Date.

The Company fulfilled this obligation in May 2022; and c) no later than 45 days following the Effective Date, issue to First Majestic, such number of common shares of the Company ("Shares") as is equal to 19.9% of the then issued and outstanding Shares of the Company post-issuance. The Company fulfilled this obligation by issuing to First Majestic an aggregate of 2,205,118 Shares on May 24, 2023.