Silver Sands Resources Corp. — Capital/Financing Update 2022

Mar 28, 2022

FORM 51‐102F3 MATERIAL CHANGE REPORT

ITEM 1. NAME AND ADDRESS OF COMPANY

Silver Sands Resources Corp. (the " Company ") Suite 830 – 1100 Melville Street Vancouver, British Columbia V6E 4A6

ITEM 2. DATE OF MATERIAL CHANGE

March 23, 2022.

ITEM 3. NEWS RELEASE

On March 24, 2022, further to its news release dated March 9, 2022, an announcement reporting the material change was issued and filed on SEDAR and distributed through the facilities of Canada NewsWire.

ITEM 4. SUMMARY OF MATERIAL CHANGE

On March 23, 2022, the Company closed its non‐brokered private placement of 13,450,000 units of the Company (the “ Units ”) at a price of C$0.10 per Unit, for gross proceeds of C$1,345,000 (the “ Private Placement ”).

Each Unit consists of one common share in the capital of the Company (each a " Share ") and one half of one common share purchase warrant (each whole warrant, a “ Warrant ”). Each Warrant entitles the holder to acquire one share at a price of C$0.15 per share for a period of 24 months following the date of issuance. The Warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company’s share price on the CSE (or such other stock exchange the Shares may be trading on) is equal to or greater than C$0.30 for a period of 10 consecutive trading days.

Additionally, as consideration for acting as finder, Leede Jones Gable Inc. received a cash commission of $45,600 and 456,000 finder’s warrants which have the same terms as the Warrants described above.

The securities issued in the Private Placement are subject to a four‐month hold period under applicable Canadian securities laws.

ITEM 5.1 FULL DESCRIPTION OF MATERIAL CHANGE

Please see the news release attached as Schedule “A” for a full description of the material change.

ITEM 5.2 DISCLOSURE FOR RESTRUCTING TRANSACTION

Not applicable.

ITEM 6. RELIANCE ON SUBSECTION 7.1(2) OF NATIONAL INSTRUMENT 51‐102

This report is not being filed on a confidential basis.

ITEM 7. OMITTED INFORMATION

There are no significant facts required to be disclosed herein which have been omitted.

ITEM 8. EXECUTIVE OFFICER

Contact: Keith Anderson Chief Executive Officer, Director Telephone: (604) 786‐7774

ITEM 9. DATE OF REPORT

March 28, 2022.

SCHEDULE “A”

NEWS RELEASE DESCRIBING MATERIAL CHANGE

(See attached.)

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Silver Sands Closes Over-Subscribed Private Placement Including Strategic Investment by Eric Sprott

Vancouver, British Columbia, March 24, 2022: further to its news release dated March 9, 2022, Silver Sands Resources Corp. (the “ Company ” or “ Silver Sands ”) (CSE: SAND) is pleased to announce that it has closed its over-subscribed, non-brokered private placement for aggregate gross proceeds of C$1,345,000 (the “ Private Placement ”) through the issuance of up to 13,450,000 units of the Company (each a “ Unit ”) at a price of C$0.10 per Unit. Each Unit consists of one common share in the capital of the Company (each a " Share ") and one half of one common share purchase warrant (each whole warrant, a “ Warrant ”). Each Warrant entitles the holder to acquire one share at a price of C$0.15 per share for a period of 24 months following the date of issuance. The Warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company’s share price on the CSE (or such other stock exchange the Shares may be trading on) is equal to or greater than C$0.30 for a period of 10 consecutive trading days.

The Company has paid 8% Cash Finders’ fees totaling $45,600 and issued 456,000 Finder’s Warrants which have the same terms as the subscribers’ warrants described above.

Proceeds of the Private Placement will be used for exploration expenditures on the Project, for accounts payable and ongoing general working capital requirements.

The securities issued in connection with the Private Placement are subject to a four month hold period as required by applicable securities laws and the policies of the Canadian Securities Exchange.

About Silver Sands Resources Corp.

Silver Sands is a well-financed, Canada-based company engaged in the business of mineral exploration and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate and develop economic precious and base metal properties of merit. Its key asset is the Virginia silver project, located in the mining-friendly Santa Cruz state of Argentina.

On Behalf of the Board of Directors

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Keith Anderson Chief Executive Officer, Director

For further information, please contact:

Keith Anderson Chief Executive Officer, Director (604) 786-7774

SILVER SANDS RESOURCES CORP.

Suite 830 – 1100 Melville Street Vancouver, British Columbia V6E 4A6 www.silversandscorp.com

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.

Cautionary Note Regarding Forward-Looking Statements:

Certain disclosure in this release may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release, including without limitation, statements pertaining to the Company's exploration programs, the Company's mineral property acquisition plans and the use of funds raised in the Private Placement, are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, without limitation, financing risks, delays in obtaining or inability to obtain required regulatory approvals, legislative, environmental and other judicial, regulatory, political or competitive developments, exploration and operational difficulties, the timing of future business expenditures, the potential of the Company's mineral properties and changes in economic conditions or financial markets. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.