Vancouver, British Columbia – Fabled Silver Gold Corp. (“Fabled” or the “Company”) (TSXV: FCO; OTCQB: FBSGF, and FSE: 7NQ) is pleased to announce updates of diamond drilling from the upgraded 9,200 meter drill program on the “Santa Maria” Property in Parral, Mexico.
Peter J. Hawley, CEO and President, remarks, “As I mentioned in previous releases, we are exploring areas never explored before, with new ideas to test our structure-on-structure theory over the Property and every hole regardless of mineralization tells a piece of the story and adds to the understanding of the emplacement of the various pulses of mineralization and their relationship to orientation of structures.
We are systematically taking what was previously thought of as simple E-W high grade structure and re-evaluating, with numerous successes to date, in order to develop our new concept.
P. Hawley continues,” Three silver, zinc bearing new structures found in drilling to date, in addition to other silver bearing structures as we continue to zero in on additional new discoveries on the Santa Maria Property bodes well for the rest of the program. All this work has led us to the location of Drill Holes 14 and 15.
The exceptional bonanza silver grade of 2,269.26 g/t silver, (2.269 kilo’s, 72 troy ounces) demonstrates that we are on the right track to the vector process of starting to define our drill targets.
It is important to point out that silver is the driver of the potential economics of the project but now not only the lead and zinc credits have increased substantially but the gold credits add further enhancement.
This is the deepest hole in the area at -220 meters vertically and open in all directions.
Table 1- Drill hole SM20-15 Assay Results
| Drill Hole | From m | To m | Width m | Au g/t | Ag g/t | AgEq* g/t | Pb % | Zn % | Cu % |
| SM20-15 | 209.20 | 212.60 | 3.40 | 1.24 | 223.82 | 287.36 | 0.82 | 2.82 | 0.09 |
| Includes | 209.20 | 209.40 | 0.20 | 0.52 | 141.00 | 167.75 | 0.84 | 1.33 | 0.02 |
| Includes | 209.40 | 210.80 | 1.40 | 0.87 | 71.70 | 116.61 | 0.52 | 0.78 | 0.05 |
| Includes | 210.80 | 211.20 | 0.40 | 2.05 | 148.00 | 253.45 | 1.43 | 5.48 | 0.14 |
| Includes | 211.20 | 212.40 | 1.20 | 1.39 | 116.00 | 187.50 | 0.90 | 4.57 | 0.08 |
| Includes | 212.40 | 212.60 | 0.20 | 1.93 | 2,170.00 | 2,269.28 | 1.21 | 2.80 | 0.36 |
| | 212.60 | 216.00 | 3.40 | 0.58 | 35.47 | 65.24 | 0.17 | 0.56 | 0.03 |
Figure 1 – Cross Section for Drill Hole SM20-15
Photo 1: SM20-15 Drill Core at 212.4 meters grading 2.269 kilos AgEq (72 troy ounce) PLUS 1.21% Pb PLUS 2.8% Zn
Photo 2: SM20-14 Drill Core at 182.8 meters 301.44 g/t AgEq (+9 troy ounce) PLUS 2.09% Pb PLUS 5.51% Zn
Peter J. Hawley, CEO and President, reports, “Drill Hole SM20-14 was the break thru hole in the recognition of the high-grade shoot or plunge of mineralization reporting over 300 g/t Ag Eq. (+9 troy ounces) in an area which has reported other high-grade intercepts of up to 800 g/t silver. This hole tied in the plunge of the trend of mineralization.”
Table 2- Drill hole SM20-14 Assay Results
| Drill Hole | From m | To m | Width m | Au g/t | Ag g/t | AgEq* g/t | Pb % | Zn % | Cu % |
| SM20-14 | 172.50 | 185.15 | 12.65 | 0.23 | 35.09 | 46.92 | 0.15 | 0.45 | Nil |
| Includes | 180.35 | 184.05 | 3.70 | 0.32 | 67.19 | 83.65 | 0.43 | 1.23 | Nil |
| Includes | 182.80 | 184.05 | 1.25 | 0.56 | 120.00 | 148.81 | 1.15 | 3.37 | Nil |
| Includes | 182.80 | 183.20 | 0.40 | 0.646 | 268.00 | 301.44 | 2.09 | 5.51 | Nil |
- ** Ag Equivalent (“Ag Eq”) grade is calculated using $20 per ounce Ag and $1,600 Au
figure 2 – Cross Section for Drill Hole SM20-14 ADDITIONAL PAST DRILL HOLE ASSAYS
As previously reported, we re-entered into hole 8B to extend the hole to a barren rock unit and pleased to report that we intersected another new zone which has reported 1.5 meters grading 140.06 g/t silver eq. See Table 3 below.
Table 3: Drill Hole SM20-8B Assay Results
| Drill Hole | From m | To m | Width m | Au g/t | Ag g/t | AgEq* g/t | Pb ppm | Zn ppm | Cu ppm |
| SM208B*** | 199.10 | 215.40 | 16.30 | 0.03 | 7.00 | 8.54 | 92 | 303 | 20 |
| Includes*** | 201.00 | 203.10 | 2.10 | 0.05 | 12.00 | 14.57 | 287 | 331 | 24 |
| Includes*** | 210.60 | 215.40 | 4.80 | 0.05 | 13.00 | 15.57 | 86 | 453 | 32 |
| Includes*** | 226.10 | 227.60 | 1.50 | 0.04 | 60.00 | 62.06 | 291 | 527 | 35 |
| *** | 227.60 | 234.00 | 6.40 | 0.02 | 4.00 | 5.03 | 101 | 253 | 24 |
| | 281.80 | 283.30 | 1.50 | 0.04 | 138.00 | 140.06 | 455 | 1,585 | 141 |
- ** Ag Equivalent (“Ag Eq”) grade is calculated using $20 per ounce Ag and $1,600 Au
- *** Previously report in April 13, 2021 Release
The important structural information collected from holes 8B and 10 allowed the Company to vector in on the movement components and as such collar drill hole SM20-11 approximately 200 meters to the northeast of holes 8-10 and was drilled at right angle or 90 degrees to the north – south trending faulting and encountered multiply zones of mineralization, which has now increased to over 30 meters in width and now is called the “ North Vein Structure.”
Table 4: Drill Hole SM20-11 “North Vein Structure” Assay Results
| Drill Hole | From m | To m | Width m | Au g/t | Ag g/t | AgEq* g/t | Pb ppm | Zn ppm | Cu ppm |
| SM20-11 | 62.80 | 99.20 | 30.60 | 0.042 | 30.04 | 31.20 | 514 | 1,586 | 44 |
| Includes | 80.50 | 95.50 | 15.00 | 0.03 | 64.00 | 65.65 | 776 | 1,968 | 45 |
| Includes | 65.00 | 66.20 | 1.20 | 0.041 | 108.00 | 110.11 | 849 | 2,670 | 50 |
| Includes*** | 91.10 | 95.50 | 4.40 | 0.062 | 83.50 | 86.69 | 237 | 458 | 33 |
| *** | 101.00 | 103.20 | 2.20 | 0.017 | 117.70 | 118.57 | 85 | 206 | 27 |
| *** | 121.80 | 125.40 | 3.60 | 0.036 | 40.80 | 42.65 | 44 | 137 | 29 |
- ** Ag Equivalent (“Ag Eq”) grade is calculated using $20 per ounce Ag and $1,600 Au
The New “North Vein Structure” and its mineralization is open in all directions and will be followed up during the summer drill campaign.
Drill holes SM20-12 and 13 were pure exploration hole testing the northern IP geophysical conductor IPSM-03. The IP response has been explained by the presence of 10 - 40% barren pyrite within a hornfels unit. Hole 12 had no values of interest and hole 13 reported weakly elevated silver and zinc.
This will conclude the testing of this anomaly in this area.
Table 5- Drill Hole SM20-13 Assay Results
| Drill Hole | From m | To m | Width m | Au g/t | Ag g/t | AgEq* g/t | Pb ppm | Zn ppm | Cu ppm |
| SM20-13 | 67.00 | 71.20 | 4.20 | 0.029 | 16.00 | 17.49 | 229 | 243 | Nil |
| | 210.80 | 220.70 | 9.90 | 0.031 | 11.00 | 12.59 | 194 | 563 | Nil |
| | 267.00 | 272.80 | 5.80 | 0.054 | 30.00 | 32.78 | 1,565 | 1,625 | Nil |
| | 432.00 | 435.35 | 3.35 | 0.026 | 10.00 | 11.34 | 1,879 | 1,001 | 1,992 |
FUTURE DRILLING UPDATE
The Company has now completed drill holes SM20-01 – 18 for a total of approximately 3,250 meters of the increased 9,200 meter drill program. Hole SM20-19 is currently in progress.
Undergroud drilling has began and hole SMUG-01 has been completed and hole 02 is in progress.
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.