Nevada Silver Corporation Announces Closing Of $2,000,000 Financing

Nevada Silver Corporation (TSXV: NSC) (OTCQB: NVDSF) ("NSC" or the "Company"), further to its press release of 8th May 2023, is pleased to announce that the effective date of its change of name to "Electric Metals (USA) Limited" will be 16th May 2023 (the "Effective Date"). On that date, the Company will begin trading at the open on the TSX Venture Exchange under its new name and ticker symbol "EML". On the Effective Date, the new ISIN number for the Company will be CA28489D1024 and the new CUSIP number will be 28489D102. The Company is intending that its new ticker symbol on the OTCQB will be "EMUSF".

• Elected as directors Mr. Oliver Lennox-King, Ms. Megan McElwain, Mr. John Kutkevicius, Dr. Henry Sandri and Mr. Gary Lewis;
• Reappointed Baker Tilly WM LLP, Chartered Accountants, as the Company's auditors;
• Approved the continued use of the Company's stock option plan in accordance with TSX Venture Exchange ("TSXV") policies;
• Approved an amendment to the articles of the Company to add a provision permitting the directors to appoint one or more additional directors between annual meetings of shareholders; and
• Approved approved the change of name of the Company to "Electric Metals (USA) Limited", or such other name as determined by the Board of Directors and as may be acceptable to the regulatory authorities (the "Name Change").

Nevada Silver Corporation  (TSXV: NSC) (OTCQB: NVDSF) ("NSC" or the "Company") is pleased to announce the results of its annual and special meeting of shareholders held on 4th May 2023 (the "Meeting"), the results of which are summarized above.

Following the Meeting, the Board of Directors of the Company resolved to proceed with the Name Change. Following receipt of all regulatory and stock exchange approvals, the Company's stock is expected to begin trading under its new name and TSXV ticker symbol of "EML". The Company will make a further announcement when such date has been determined.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES

• Completes acquisition of all outstanding shares of North Star Manganese Inc via share exchange with minority NSM shareholders.
• Increases NSC shareholder exposure to 100% of the high-grade Emily Manganese Project in Minnesota, USA.
• Drilling progresses on schedule at the Emily Manganese Project with seven diamond core drill holes now completed and additional samples submitted for analyses. Assays from the initial three drill holes are expected in coming weeks.

Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC)(OTCQB:NVDSF) is pleased to announce it has completed the acquisition of all of the outstanding securities of North Star Manganese Inc ("NSM") that it did not already hold through its wholly-owned subsidiary Electric Metals (USA) Pty Limited ("EML") (the "NSM Share Acquisition"). As disclosed in the news release of the Company dated August 31, 2022, NSM closed the sale of 3,160,233 of its shares (the "NSM Shares") representing 9.5% of its issued and outstanding shares of NSM on August 31, 2022. The other 90.5% of the outstanding shares continued to be held by EML. On November 23, 2022, the Company announced that the Emily Manganese Project will become the Company's flagship asset and that the Company planned to change its name to "Electric Metals (USA) Limited" in order to better reflect the entirety of its value proposition as a developer of battery and technology-related minerals, including its US manganese and silver properties

• Three diamond core drill holes have been completed and samples submitted for analyses as drilling progresses on schedule.
• Drill holes have all intersected high-grade manganese mineralization close to anticipated depths.
• Metallurgical and battery test work will resume when the majority of planned drill holes in the eastern portion of the deposit are completed.
• Barr Engineering will undertake environmental studies on recently acquired land in preparation for additional drilling.

Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC)(OTCQB:NVDSF) is pleased to provide an update on the inaugural drill program, and other technical and permitting activities at its high-grade Emily Manganese project in Minnesota, USA. The Emily Project ("Emily") is located in the Cuyuna Iron Range of central Minnesota, USA (Figure 1), an area with a rich mining history and support from established local infrastructure, a skilled mining workforce and abundant power and gas

Figure 1. The Emily Project is part of the Emily District of the Cuyuna Iron Range in Crow Wing County, Central Minnesota. The Emily District includes the highest-grade manganese resource in North America.

• Signs lease and purchase option agreements covering two strategic blocks of land joining the Company's existing holdings.
• First company to consolidate land into one contiguous block covering much of the manganese-iron deposition previously drilled by US Steel and Pickands Mather.
• NSC to review drill program now underway to include additional holes to cover high-grade historical intercepts on this newly acquired ground.

Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC)(OTCQB:NVDSF) a US-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy, is pleased to announce that the Company's Minnesota subsidiary, North Star Manganese Inc ("NSM") has signed lease and purchase option agreements with two private landowners in Emily, Minnesota on two adjacent blocks of land covering approximately 77 acres of surface and mineral rights

The Emily Project is located in the Cuyuna Iron Range of central Minnesota, USA (Figure 1), an area with a rich mining history and supported by well-established local infrastructure, a skilled mining workforce and abundant power and gas.