Vancouver, British Columbia--(Newsfile Corp. - November 3, 2023) - Pantera Silver Corp. (TSXV: PNTR) ("Pantera" or the "Company") announces it has amended the terms of the Nuevo Taxco Option Agreement (the "Agreement") with respect to its right to acquire 100% ownership of concessions covering ~1,100 hectares at the Nuevo Taxco Silver-Gold Project ("Nuevo Taxco" or the "Nuevo Taxco Project"), located northwest of Taxco, in Guerrero State, Mexico.

Mr. Jay Roberge, President and CEO of Pantera commented: "On behalf of Pantera I would like to thank Fred Davidson and the team at IMPACT Silver Corp. for their on-going support of our commitment to the success of the Nuevo Taxco project. Nuevo Taxco is an extensive epithermal vein system with great upside discovery potential. The revised agreement allows Pantera to retain our interests and to execute on our vision to unlock the potential of the Nuevo Taxco project coherent with our positive view on the long-term prospects for silver. We will continue to evaluate additional projects that may provide hedging opportunities to acquire undervalued assets in this challenging junior exploration market. This may also include projects that are in a more advanced development stage or outside our primary focus of silver."

Under the new amended terms, Pantera will issue 1,500,000 common shares in lieu of making a $150,000.00 final cash payment. A final share payment of 2,000,000 common shares will be due October 30^th, 2024. Under the amended terms, the Vendor has the option to accept the 2,000,000 shares or $150,000.00 cash plus 500,000 common shares. In addition, under the amended terms, the final work commitment of $800,000 has been extended to be completed by December 31^st, 2025.

All Shares issued in connection with the Agreement will be subject to a statutory 4-month hold period from their respective date of issue.

Nuevo Taxco Property Highlights

• Twenty-one (21) high grade veins mapped and sampled within a ~135 hectare area of the property. All have substantial width and mapped lengths run from 150 to 800 meters and remain open along strike and depth.

• Over 395 samples taken to date have returned assays ranging from 100g/tonne to over 1,000 g/t Silver including three (3) samples (1,430, 1,230, 1,100 g/t), one hundred and nineteen (119) grading over 100 g/t Silver including eighteen (18) samples between 500-900 g/t Silver and ninety-two (92) between 100- 499 g/t Silver.

• Limited exploration drilling completed which confirmed mineralisation at depth and a new gold zone.

• Fully permitted for exploration drilling.

• The entire ~1,100-hectare property is considered substantively unexplored offering additional upside exploration potential.