Fitzroy Minerals Inc. — Capital/Financing Update 2023

Apr 21, 2023

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Stock Option Repricing

Vancouver, British Columbia April 20, 2023 . Norseman Silver Inc. (TSXV:NOC) OTCQB:NOCSF) (“ Norseman ” or the “ Company ”) announces that, subject to TSX Venture Exchange approval and disinterested shareholder approval, it is repricing an aggregate of 4,275,000 stock options (“ Options ”). The repricing does not affect the Options’ current vesting schedules and does not extend the term of the Options. The 4,275,000 existing Options will be repriced from between $0.375 and $0.45 per common share to $0.20 per common share.

About Norseman Silver

Norseman Silver is focused on acquiring, exploring and developing silver assets with upside potential in the Americas. The Company’s current property portfolio includes the Cariboo, Silver Vista, Silver Switchback and projects, located in a prolific region in central British Columbia, Canada, and the Taquetren silver project, located in Rio Negro, Argentina. Norseman Silver’s shares are listed on the TSX Venture Exchange under the symbol NOC and on the OTCQB under the symbol NOCSF. Learn more about Norseman Silver at www.norsemansilver.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the United States Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On behalf of Norseman Silver Inc.

Sean Hurd President and CEO

For further information, please contact:

Sean Hurd President and CEO

Info@norsemansilver.com 604-505-4554