Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) reported today that it will, subject to TSX Venture Exchange approval, extend the closing date of its private placement first announced by news release dated June 23, 2022 (the "Offering") by 30 days from the date of this news release.

The Company closed the first tranche of the Offering for gross proceeds of C$415,800 on July 20, 2022, as reported in a news release dated July 21, 2022.

The terms of the Offering are unchanged from those previously announced.

The net proceeds of the Offering will be used for general working capital and exploration activities on the Company's Santa Maria property, located in Parral, Mexico.

All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and any other resale rules under applicable securities laws and the policies of the TSX Venture Exchange. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

In connection with the Offering, the Company may pay a finder's fee to eligible arm's length parties to be determined by negotiation with such parties, and pursuant to the rules of the TSX Venture Exchange and applicable securities laws.

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.
Fabled Silver Gold Corp.
Phone: (819) 316-0919
[email protected]