Silver Viper Closes Additional Tranche of Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, March 24, 2023 /CNW/ - Silver Viper Minerals Corp. (the "Company" or "Silver Viper") (TSXV: VIPR) (OTC: VIPRF) is pleased to announce it has closed an additional tranche (the "Additional Tranche") of its non-brokered private placement (the "Offering"), initially announced on March 9, 2023. The Additional Tranche was comprised of 7,227,984 units of the Company (the "Units") issued at a price of $0.10 per Unit for aggregate gross proceeds of $722,798. On March 13, 2023, the Company also announced it had closed the first tranche of the Offering, issuing 6,555,000 Units.

Each Unit consists of one common share (each, a "Share") and one warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share at the price of $0.20 per Share until March 24, 2025. The Shares and Warrants comprising the Units and any Shares issued upon the exercise of the Warrants are subject to a statutory hold period which expires on July 25, 2023.

The funds will be used to continue surface exploration including mapping and sampling in preparation for a future drill campaign at the Company's La Virginia Gold-Silver Project located in Mexico. In addition, a portion of the funds raised will be used for working capital requirements and other general corporate purposes.

The Company has agreed to pay a finder's fee to certain finders in respect of those purchasers under the Offering introduced to the Company by such finder. In connection with the closing of the Additional Tranche, Silver Viper will pay finder's fees of $31,800 to Haywood Securities Inc., $5,250 to Canaccord Genuity Corp., and $1,500 to Red Cloud Securities Inc.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.

ON BEHALF OF THE BOARD OF DIRECTORS,

Steve Cope
President and CEO

This news release may contain forward-looking statements, including statements with respect to the terms of the Offering, closing of the Offering and use of proceeds of the Offering. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company's financial statements, management discussion and analysis and/or annual information form available on www.sedar.com. The risk factors identified in such documents are not intended to represent a complete list of factors that could affect the Company. Actual results may differ materially from those currently anticipated in such statements and the Company undertakes no obligation to update such statements, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Silver Viper Minerals Corp.