Fabled Drills 12.50 Meters of 85.30 g/t Ag and 0.49 g/t Au with 1.80 Meters Grading 214.00 g/t Ag and 1.08 g/t Au at Santa Maria

Vancouver, British Columbia--(Newsfile Corp. - February 24, 2021) - Fabled Silver Gold Corp. (TSXV: FCO) (OTC Pink: FBSGF) (FSE: 7NQ) ("Fabled" or the "Company")  is pleased to announce the third diamond drill hole from the on-going 8,000 meter drill program on the Santa Maria Property in Parral, Mexico.

Peter J. Hawley, CEO and President, remarks, "The recent drill hole concludes the first ever complete drill section on the newly interpreted Santa Maria structure and clearly defines the structure from surface to -350 meters vertically, which is the deepest hole ever drilled on the property. The 12.50 meter intersection has clearly defined a footwall and hanging wall structure with corresponding elevated silver values up to over 7 ounces of silver and remains open at depth. More importantly, the structure is very conformable and intersected exactly where predicted, which bodes very well for the expansion of Santa Maria and increasing the present NI 43-101 resources on the property with only 3 drill holes drilled to date."

Peter Hawley continues, "The data being obtained from this fence of drill holes will not only target adding silver ounces to the overall resource but also allow us to interpret and model the behavior of this robust mineralized system for future drilling as we expand outwards from the present resource."

Table 1: Drill Hole Intercepts

Hole NoFrom (meters)To
Width (meters)Au g/tAg g/t

Drill holes SM20-01, SM20-02 and SM20-03 are drilled on the same section with holes 02 and 03 targeting the sulphide intercept of the Santa Maria vein and structure.

Drill hole SM20-02 was drilled at an angle of -65 degrees for a total hole depth of 232 meters. Drill hole SM20-03 was stationed 75 meters behind the drill station for holes 01-02 and drilled at an angle of -75 degrees for a total depth of 375 meters.

The Company has completed drill holes SM20-01 - 07 for a total of 1,895 meters. Holes SM20-04 - 06 have been sampled and submitted to ALS Chihuahua Laboratory for analysis. Hole SM 20-08 is in progress.

Plan View of Drill Station Locations over IP Anomalies and Underground Workings

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Cross Section View of Drill Hole Intercepts

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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 project, 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.

For further information please contact:

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

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.


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