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Reyna Silver Acquires the Mineral Hill District Within the Gryphon Project and Provides Operation Update

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VANCOUVER, BC AND HONG KONG, CHINA / ACCESSWIRE / August 1, 2024 / Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) ("Reyna" or the "Company") is pleased to announce that it has entered into an Option Agreement (the "Agreement") with Minquest Ltd. ("Minquest") on the Mineral Hill Project (the "Project") located in Eureka County, Nevada. This historic district was an inlier including 8 patented claims and 20 unpatented claims within the overall Gryphon Project (Figure 1.)

"Mineral Hill was producing some of the highest-grade silver-rich CRD mineralization ever found in this part of Nevada well before its neighbors Eureka, Cortez and Railroad were even discovered, so acquiring these patented claims fills an important missing piece in the Gryphon property puzzle," said Jorge Ramiro Monroy, CEO of Reyna Silver. "All these districts show overlapping Carlin Gold and CRD mineralization, but previous exploration at Gryphon just focused on the gold, so filling this hole lets us apply our broader integrated vision to unlock the full Gold, Silver and Critical Metals potential of the overall Gryphon system."

Figure 1. Map of Gryphon claims with the Mineral Hill 8 patented claims and surrounding 20 claims noted in red on the western side of the property. The blue outline delineates the 10,300 ha existing claims package encompassing the Gryphon Project.

Mineral Hill was a significant historic Ag-Pb-Zn CRD producer with an average grade of 140 oz/ton Ag (3,968 g/t Age) production during its prime in the 1870s with average grades lowering to 24 oz/ton Ag (680 g/t Age) towards the end of mine life. Studying this portion of the Gryphon system allows the technical team to understand the geometry of the mineralization and begin following it towards source and potentially more mineralization.

The major deposits of the Lander and Eureka county area, including the Battle Mountain - Eureka trend and the Carlin trend, were noted as CRD deposits prior to discovery of the massive Carlin gold systems in the 1960s. Ralph Roberts, famous Carlin trailblazer, cited CRDs as the significant deposits in his papers in 1960 and 1966 including Eureka, Railroad and Cortez which are now collectively known for producing over 60 Moz of Gold. The association of CRDs and Carlin deposits has been recognized for years though the relationship is not fully understood, yet (See Figure 2.)

Figure 2. Map of the major Carlin deposits noted in gold (scaled relative to production) and Ag-Pb-Zn CRDs noted red as identified by R. Roberts in his famous 1960 "Alignment of Mining Districts in North-Central Nevada" (USGS Professional Paper 400-B) and 1966, Metallogenic provinces and mineral belts in Nevada (Nevada Bureau of Mines Report 13, pt. A, p. 47-72).