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Reyna Silver Signs Option Agreement for Medicine Springs Project in Nevada

Figure 1: Medicine Springs Location

Figure 1: Medicine Springs Location
Figure 1: Medicine Springs Location
Figure 1: Medicine Springs Location

Figure 2: Carbonate Replacement Deposit Model for Medicine Springs

Figure 2: Carbonate Replacement Deposit Model for Medicine Springs
Figure 2: Carbonate Replacement Deposit Model for Medicine Springs
Figure 2: Carbonate Replacement Deposit Model for Medicine Springs

Figure 3: NLR Exploration Results Medicine Springs

Figure 3: NLR Exploration Results Medicine Springs
Figure 3: NLR Exploration Results Medicine Springs
Figure 3: NLR Exploration Results Medicine Springs

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

TORONTO and HONG KONG, Oct. 05, 2020 (GLOBE NEWSWIRE) — (“Reyna or RSLV”) is pleased to announce that it has entered into a Property Option Agreement with Northern Lights Resources Corp. (“NLR”) on the Medicine Springs silver-lead-zinc project (the “Medicine Springs Project”) located in Elko County, Nevada. The Medicine Springs Project comprises 149 unpatented Federal mineral claims covering 1,189 hectares located in the Ruby Mountains Valley just off the famous Carlin Trend.

The Agreement gives Reyna the ability to earn up to an 80% equity interest in the Project (initial 75% with option to purchase an additional 5%) (the “Option”) subject to expending a total of US$2,439,065 on the Project by December 31, 2023. Upon completion of the Option, Northern Lights and Reyna will enter a Joint Venture to continue exploration and development of the Medicine Springs Project, with Reyna acting as the project’s operator. No upfront payments in either cash or shares are due to either NLR or any other party. See below for the detailed terms.

“While Reyna Silver’s main focus will continue to be our flagship Guigui asset, for which we are awaiting permits to commence a 10,000 meter drill campaign this fall, we are delighted to add Medicine Springs to our portfolio of assets,” said Jorge Ramiro Monroy, President and CEO.   Medicine Springs is a Guigui-like CRD system with high-grade silver potential, which lies in Nevada’s CRD elephant country and we are eager to begin applying the same exploration model that led to Arizona Mining’s Taylor Manto and MAG Silver’s Cinco de Mayo discoveries. The Northern Lights team has done an excellent job developing the project to its current near-drill ready stage, which lets us hit the ground running.”

“Figure 1: Medicine Springs Location” is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6669eecf-7969-4d08-8495-284a455679fa

“Figure 2: Carbonate Replacement Deposit Model for Medicine Springs” is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b835479-ba68-435c-9e1d-ee4d62bb9525

The Medicine Springs Project

The world-famous Carlin Trend runs just east of the Medicine Springs area and prior to acquisition by NLR in 2017, the area was explored for Carlin-style gold potential from 1986-2008 by companies including, US Minerals Exploration, Golden Phoenix, Cominco America and Silver Resources. This exploration work included mapping, sampling, geophysics (CSAMT and IP) and shallow RC drilling. A total of 125 RC holes were drilled on the Project claims (5,380 m with average depth of 43 m, with the deepest hole being 180 m). Limited gold mineralization was found, but significant silver-rich mineralization was cut in several holes including: 33 m @ 90 g/t