Toronto, Ontario--(Newsfile Corp. - March 24, 2022) - Nevada Silver Corporation (TSXV: NSC) (OTCQB: NVDSF) ("NSC" or the "Company") further to its press release of December 21, 2021, is pleased to provide an update on its Emily manganese project (the "Emily Manganese Project"), which is held by its indirectly wholly owned U.S.A. subsidiary, North Star Manganese Inc ("NSM"). The Company has been and continues to be focused on its Corcoran Silver-Gold Project in Nevada, USA and as a result the Company announced on December 21, 2021, that it was considering its options with respect to the financing and commercialization of the Emily Manganese Project including a "spinout" of NSM or a joint venture of the Emily Manganese Project, based on receipt of tax, corporate and securities law advice (such transaction, a "Value Realization Transaction"). In that regard the Company is announcing that while its review is continuing it will conduct an offering of securities of NSM on a private placement basis (the "NSM Financing") to provide funds to NSM for any such Value Realization Transaction and to provide interim exploration financing and general working capital. NSM will offer up to 3,000,000 shares of NSM at a price of $0.25 per share for gross proceeds of up to $750,000. Prior to completing the NSM Financing, NSM will split its shares on the basis of 2.3483 new shares for each currently outstanding share as a result the outstanding shares of NSM will increase from 12,775,000 shares to 30,000,000 shares prior to completion of the NSM Financing. In the event the NSM Financing is completed in full, NSM will have 33,000,000 shares outstanding. In the event that the NSM Financing is completed in full, and a Value Realization Transaction is not completed, the Company's indirect shareholding in NSM will be reduced to a 90.9% indirect holding. The NSM Financing is subject to the approval of the TSX Venture Exchange. Any Value Realization Transaction will be subject to receipt of all necessary corporate, securities, shareholder, and regulatory approvals, including the approval of the TSX Venture Exchange. There can be no assurances that a Value Realization Transaction will be completed, either on the terms outlined, or at all. Please see the Company's filing statement dated April 20, 2021, for further information about the Emily Manganese Project, available under the Company's profile at www.SEDAR.com.