Silver Wolf Exploration Ltd. reported the exploration diamond drilling permit for the southern, "El Soldado" claim at Ana Maria has been received from the Secretariat of Environment and Natural Resources, SEMARNAT. Permits for the central "La Recompensa" claim remain in process, as the application for the exploration permit associated with this claim was submitted approximately 6 weeks after the southern El Soldado claim permit application. Sampling Results from Initial Geological work: The Company has previously reported geochemical sampling which totaled 1,010 samples, with both La Recompensa and El Soldado properties returning several significant sampling grades throughout the year.

Highlights included 37.0 g/t gold and 7.6% zinc over 0.7m reported in January 18, 2022 and from a channel sample at the outcropping skarn structure at the La Recompensa claim in August 9, 2022 with 1,536 g/t of silver, 34.0% lead and 19.4% zinc sampled at the El Soldado Claim. Outlook for the Remainder of 2023: As mentioned above the first priority for exploration drilling is at El Soldado, the southern claim block. These claims are located in an area that is prolific for carbonate replacement deposits (CRDs) which are typically high grade, and the work from program has shown high grade values and geological hallmarks that suggest a CRD may be present.

This claim is hosted by the Cretaceous Aurora limestone formation. It has been observed that Ag-Pb-Zn mineralization has a preferred linear orientation along a NW-SE trend. Mineralization is hosted in recrystallized limestone associated with a system of mantos and breccias with thicknesses ranging from 15 to 50 cm, and the presence of fine-grained black sulfides.

Mineralized breccias contain sulfide clasts of 0.5 to 1 cm size with presence of abundant calcite veins and oxides such as hematite and jarosite. Common hydrothermal minerals also include calcite, siderite, manganese, and quartz. The orientation of mineralized breccia bodies is controlled by NW-SE and NE-SW structures with inclinations ranging from 55deg to 75deg.

The folding of the limestone units is interpreted to control the location of mineralization.