Tier One Silver Inc. reported composite chip sampling highlights (covering 1 square metre per sample) of 1.59% copper (Cu), 0.24% nickel (Ni), 0.22 g/t palladium (Pd), 0.13 g/t platinum (Pt), 204 g/t cobalt (Co), 0.21 g/t gold (Au); 1.43% Cu, 1.86% Ni, 0.16 g/t Pd, 0.18 g/t Pt, 1,110 g/t Co and 0.84% Cu, 2.26% Ni, 0.24 g/t Pd, 0.24 g/t Pt, 1,280 g/t Co from the new Rayanpata target area at the Hurricane project in southern Peru. These results are part of a new area that is located 3 kilometres (km) north from the Magdalena high-grade silver vein target. The majority of the samples report high-grade values for copper, nickel and cobalt, and all of the results appear to be related to magmatic-style sulphide mineralization within a gabrodioritic sill.

Of the 17 samples from Rayanpata, 65% report values above 0.1% Ni, 35% report values above 0.1% Cu and two samples report values above 1,000 g/t Co. summarizes the highlights from the composite chip sampling program. Sulphide mineralization occurs in gabrodioritic sills and breccias with high values of nickel, cobalt and copper.

Reconnaissance sampling work, including sampling of outcropping mafic intrusives, provided an initial assessment of grade potential and distribution. Two styles of mineralization have been recognized to date: crackle breccia type mineralization and gabrodioritic sills in the hanging wall to the breccias, with disseminated chalcopyrite, pentlandite, and copper oxides. These structures were recognized and sampled in the Rayanpata creek as nearly 85% of the target area is obscured by shallow erosional cover and vegetation.

The area is open in all directions and Tier One's technical team believes there is significant potential to discover extensions and additional mineralized structures. The only sample that was not taken from outcropping mineralization reported values of 1.33% Cu, 0.80% Ni and 540 g/t Co, indicating the potential for buried intrusives in the area. The next phase of exploration at the Rayanpata target will include detailed mapping to identify similar structures or a possible magmatic source to the observed mineralization, as well as rock, channel and soil sampling.