Vancouver, British Columbia - TheNewswire - February 22, 2022 - Norseman Silver Inc. (TSXV:NOC) (OTC:NOCSF) (“Norseman” or the “Company”) is pleased to announce that 3 concessions with a total area of approximately 3,567 hectares have been covered during fall 2021 field program. Detailed grid soil geochemical sampling was carried out within two separate blocks to cover in detail the NH and the Caribou West targets.

“Norseman is very pleased with the initial results to date that have shown significant copper values on surface at the Caribou Project, underlain by corresponding geophysical anomalies. We are looking forward to advancing this exciting project, as well as expanding our activities in Argentina.” stated, Sean Hurd, President & CEO.

A total of 148 rock outcrop and float samples were collected at the Caribou property. An outcrop sample from Caribou West, graded 42% Cu and 384 ppm Ag. From the total samples collected to date, 45 samples or 30% have Cu contents of 1% and above. Although most of these were from the NH area, significant numbers were also taken from the Caribou West.

The soil geochemistry defined areas with elevated values for Cu, Ag, Pb and Zn within the NH and Caribou West targets. The positively anomalous values show a NE-SW trend at NH and an E-W trend at Caribou West. Results to date have identified targets approximately 30-hectare and 40-hectare zones in the Caribou West and NH. (see table below and map below).

Ground IP and Magnetometer surveys were also carried out within a section of the soil sampling block at the NH area. Six (6) survey lines spaced 100 meters apart and with a total length of 6.3 kms. were covered by the survey. The IP work employed a pole-dipole array and along the same survey lines, total magnetic readings were taken at 5 to 10-meter intervals.

Table 1. Significant Results from Caribou Project to date.

Qualified Person

The technical information in this news release was reviewed by Rene Victorino, P. Geo., Vice President for Exploration of Norseman Silver Inc., a qualified person as defined under National Instrument 43-101  (NI 43-101).

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the United States Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On behalf of Norseman Silver Inc.

Sean Hurd
President and CEO

For further information, please contact:

Sean Hurd
T: 604 505-4554

info@norsemansilver.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to: the Company’s objectives, goals or future plans; exploration and drilling activities; final approval of the Offering; and the use of the proceeds from the Offering. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; inability to fulfill the duty to accommodate indigenous peoples; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates; other risks involved in the mineral exploration and development industry; an inability to predict and counteract the effects of COVID-19 on the business of the Company and markets generally; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.