Cartier Silver Announces Commencement of Diamond Drilling on Gonalbert Property, Potosi Department, Southern Bolivia

• Initial 5-hole diamond drill program totalling 3,300m will test geophysical and geological targets for epithermal polymetallic Ag-Pb-Zn mineralization in the general vicinity of the artisanal silver mine.
• Additional IP/Res surveys in the NW part of the property have added more than a kilometre of additional strike length to the potential mineralized zone.

TORONTO, June 29, 2023 (GLOBE NEWSWIRE) — Cartier Silver Corporation (CSE: CFE) (“Cartier Silver” or the “Company”) is pleased to announce that diamond drilling has commenced to test geophysical and geological targets for epithermal Ag-Pb-Zn mineralization on the Gonalbert Property, Potosi Department, Southern Bolivia. The initial program will consist of 5 drill holes totalling 3,300m collared in the general vicinity of the artisanal silver mine. The locations of these holes are shown in Figure 1, a geological plan map. Collar locations and orientations of these holes are listed in Table 1 below. Sections 1 and 2 in Figure 2 show the geophysical anomalies being targeted in the vicinity of the major structures which have been the focus of artisanal mining, both historically and recently.

Tom Larsen, CEO of Cartier Silver, commented: “We are very excited to begin drill testing this promising epithermal polymetallic mineralization target. Initial previously reported geophysical and geological work (see Cartier press release dated June 7, 2023) outlined a target area that is 800m by 500m and extends to a depth of at least 400m, the depth limit of the survey. Additional geophysical work has now extended this target zone a further one kilometre to the northwest. Significantly, the chargeability anomaly becomes stronger, especially at depths greater than 100m, below a depleted, near-surface zone where sulphide mineralization has been extensively oxidized.

The additional geophysical work consisted of six Induced Polarization (IP/Res) lines surveyed by MES Geophysics in the northwest part of the Gonalbert property. The same array of eight fifty-metre and four offset one hundred-meter dipoles was used to obtain chargeability and resistivity data to a depth of about four hundred meters. Figure 3 shows that the resistivity anomaly along the prominent west-northwest fault extends for an additional kilometer of strike length. The corresponding chargeability map, Figure 4, shows an additional centre of chargeability at a depth of one hundred metres. This chargeability anomaly extends west-northwestward from 218900E for about 250m before it turns north along a cross-cutting north-south fault.  The Chargeability and Resistivity data add more than a kilometre of strike length to the mineralized structure that is being drill tested in the current program, showing the impressive lateral extent and strength of the mineralizing system at Gonalbert.

Qualified Person

Dr. Bill Pearson, P.Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the scientific and technical content of this press release. Dr. Chris Hale, P.Geo., supervised the geophysical surveys. Geological surveys were supervised by Dr. Osvaldo Arce, P.Geo.

About Cartier Silver Corporation

Cartier Silver is an exploration and development Company focused on discovering and developing its recently acquired silver property assets, including the Chorrillos Project and claims staked by the Company’s subsidiary, all of which are located in the Potosi Department of southern Bolivia. The Company also holds significant iron ore resources at its Gagnon Holdings in the southern Labrador Trough region of east-central Quebec, and the Big Easy gold property in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland and Labrador.

For further information please visit Cartier Silver’s website at www.cartiersilvercorp.com

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The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release.

Statements in this release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking statements”.

Figure 1: Geology Plan Map of Gonalbert Property Showing Locations of Planned Drill Holes.

Table 1: Collar Coordinates and Orientation Information, Planned Diamond Drill Holes, Gonalbert Property

Note: Coordinates are in metres; azimuth and dip are in degrees

Figure 2: Cross Sections of Planned Drill Holes showing Location of Coincident Chargeability and Resistivity Anomalies being Drill-tested.

Figure 3: Resistivity Plan Map at N=4, Elevation 100m Below Surface with Additional Coverage in the NW Part of the Gonalbert Property

Figure 4: Chargeability Plan Map at N=4, Elevation 100m Below Surface with Additional Coverage in the NW Part of the Gonalbert Property