Fabled Definition Drilling to the East Hits Near Surface Mineralization with 257.81 g/t Ag Eq over 1.20 meters in Broader 3.7 Meter Zone

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) announces the results of surface diamond drilling from the upgraded 14,400 -meter drill program on the "Santa Maria" Property in Parral, Mexico

Peter J. Hawley, CEO and President, remarks, "Planned definition holes SM20-42 was designed to fill in a drill poor gap just to the west of the resources as seen below in Figure 1.

Figure 1 - Longitudinal View of Area of Current Drilling

SM20-42

Definition Diamond Drill Hole SM20-42 was drilled at a dip or angle of -69 degrees for a total drilled length of 221 meters and designed to hit the targeted zone at -200 meters below surface.

The hole was successful in intercepting 6 gold bearing zones of interest, see Figure 2, Table 1 and Photos 1, 2 and 3 below.

Figure 2 - Cross Section Diamond Drill Hole SM20-42

The first intercept of interest, which was near surface, began at 7.80 meters and returned 3.17 meters grading 142.70 Ag Eq with 0.49 g/t Au. This section also contained a higher-grade portion of 1.20 meters grading 257.81 g/t Ag Eq with 0.91 g/t Au.

See Figure 2 above, Table 1 and Photo 1 below.

Photo 1 - SM20-42 Drill Core

From 54.70 - 56.40 an oxidized quartz vein was intercepted, and the 1.70-meter vein reported 249.12 g/t Ag Eq with 0.43 g/t Au. See Figure 2 above, Table 1 and Photo 2 below.

Photo 2 - SM20-42 Drill Core

A weak breccia zone encountered from 140.10 - 141.00 returned 29.18 g/t Ag Eq with 0.40 g/t Au.

Further down the hole, from 180.00 - 181.10 the upper contact of the targeted Santa Maria structure breccia was encountered which reported 56.50 g/t Ag Eq.

The mineralized unit was invaded by a barren younger tertiary basaltic dike. From 181.00 - 185.30, See Figure 2 above and Photo 3 below.

From the lower contact of the young dike at 185.30, a 11.50-meter interval of the remaining Santa Maria Structure consisting of medium fractured, highly altered, laminar limestone with reddish oxidized minerals was intercepted followed by hydrothermal breccia to the depth of 207.20 meters. Intercepts of interest encountered are as follow; 0.70 meters on the lower contact reported 33.29 g/t Ag eq.

See Figure 2 above, Table 1 and Photo 3 below.

Photo 3 - SM20-42 Drill Core

From 197.4 - 207.20 meters an oxidized hydrothermal breccia was encountered and returned 33.52 g/t Ag Eq on the upper contact, 1.40 meters grading 45.82 g/t Ag Eq with 0.64 g/t Au in the middle of the zone and 0.90 meters grading 121.03 g/t Ag Eq with 0.37 g/t Au over 0.90 meters on the lower contact.

Table 1- SM20-42 Drill Hole Assay Results

• ** Ag Equivalent ("Ag Eq") grade is calculated using $20 per ounce Ag and $1,600 Au

Summary

Hole SM20-42 was successful in providing valuable information in this drill poor area and from a shallow intercept starting at 7.80 meters intercepted 6 zone of interest.

All recent drill results are presently being compiled. This not only includes the assay data but also structures intercepted, mineralized sheeted veins in dikes and related breccias will provide a comprehensive detailed view of this section and should provide high value material for resource consideration and maybe applied to other parts of the property. See Figure1 above.

Definition drill hole SM20-43, located approximately 200 meters east of hole 42, will in fill the drill poor data in the resource area of the deposit. See Figure 3 below.

QA QC Procedure

Analytical results of sampling reported by Fabled Silver Gold represent core samples that have been sawn in half with half of the core sampled and submitted by Fabled Silver Gold staff directly to ALS Chemex, Chihuahua, Chihuahua, Mexico. Samples were crushed, split, and pulverized as per ALS Chemex method PREP-31, then analyzed for ME-ICP61 33 element package by four acid digestion with ICP-AES Finish. ME-GRA21 method for Au and Ag by fire assay and gravimetric finish, 30g nominal sample weight.

Over Limit Methods

For samples triggering precious metal over-limit thresholds of 10 g/t Au or 100 g/t Ag, the following is being used:

Au-GRA21 Au by fire assay and gravimetric finish with 30 g sample.

Ag-GRA21 Ag by fire assay and gravimetric finish.

Fabled Silver Gold monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (NYSE American and TSX: AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

Mr. Peter J. Hawley, President and C.E.O.
Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com

For further information please contact:
info@fabledfco.com

The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

SOURCE: Fabled Silver Gold Corp