Reyna Silver and Reyna Gold Announce Signing of Option Agreement for Gryphon Project in Nevada

VANCOUVER, BC and HONG KONG, CHINA / ACCESSWIRE / September 5, 2023 / Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) ("Reyna Silver") and Reyna Gold Corp. (TSXV:REYG)(OTCQB:REYFG) ("Reyna Gold") are pleased to announce that they have entered into a Property Option Agreement (the "Agreement") with Golden Gryphon USA Inc. ("Gryphon") on the Gryphon Summit Project (the "Project") located in Eureka and Elko Counties, Nevada. The Project comprises 1286 unpatented and 8 patented lode mining claims located in the Diablo Range, which lies in an area of excellent infrastructure between the Carlin and Eureka-Battle Trends of north-central Nevada.

The 10,300-hectare Gryphon project covers 8 by 16 kilometres of ground laced by well-developed, variably mineralized structures. The structures show strong evidence of having sequentially controlled multiple mineralizing events, including Carlin-style Gold; Silver, Lead, Zinc, Copper, Gold Carbonate Replacement veins (CRDs); and stratabound Nickel-Zinc mineralization (See Figure 2). This style of overlapping mineralizing events is a key element of significant deposits like Ruby Hill, which lies just 70 km along trend southeast of the Gryphon project in the famous Eureka District, now known for its overlapping Carlin-style gold and historic CRD Pb-Zn-Ag deposits (See Figure 1). In addition, the Gryphon project contains an interpreted stratabound Nickel-Zinc sequence, providing a critical mineral opportunity in one of the best jurisdictions in the world (See Figure 3).

Historic exploration at Gryphon Summit was by Majors who focused on the gold and undertook extensive geological, geochemical, and geophysical programs. These resulted in localized shallow drilling programs, several of which showed strong results that were never followed up. Golden Gryphon Exploration subsequently recognized multiple superimposed silver-lead-zinc-copper and nickel mineralization events combined with a possible porphyry driver. Reyna Silver and Reyna Gold plan to deploy the first-ever integrated ore-systems approach here to unravel the individual components of this large, composite district-scale project.

"Reyna Silver's strength is the ability to take on large, district-scale projects. The multiple overprinted silver, gold and nickel events seen here and increasingly by others in the immediate neighborhood suggests Gryphon fits perfectly into our wheelhouse," said Jorge Ramiro Monroy, CEO of Reyna Silver. "We're delighted to team with our sister company Reyna Gold on this precious metals-rich multistage property smack dab in the middle of one of the world's best-understood gold mega-districts."