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Tier One Silver Inc. Board/Management Information 2021

Jan 21, 2021

47967_rns_2021-01-20_b72e5936-5474-4315-a07d-e95f475eb79a.pdf

Board/Management Information

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FORM 51–102F3

MATERIAL CHANGE REPORT

UNDER NATIONAL INSTRUMENT 51‐102

Item 1 Name and Address of Company

Tier One Silver Inc. (formerly, Tier One Metals Inc.) (“ Tier One ” or the “ Company ”) 1199 West Hastings Street, Suite 600 Vancouver, British Columbia Canada, V6E 3T5

Item 2 Date of Material Change

January 13, 2021.

Item 3 News Release

A news release was issued by the Company through accesswire on January 13, 2021.

Item 4 Summary of Material Change

On January 13, 2021, the Company announced the appointment of Peter Dembicki as President, CEO and Director.

Item 5 Full Description of Material Change

5.1 Full Description of Material Change

The Company announced the appointment of Peter Dembicki as President, CEO and Director. Mr. Dembicki formerly worked as an investment advisor with Canaccord Genuity Corp. (“ Canaccord ”) and brings over 10 years of capital markets experience. His extensive background in raising capital and corporate finance has enabled him to establish a large network of high‐net‐ worth individuals, corporations and institutional clientele. As a member of Canaccord, Mr. Dembicki structured and oversaw numerous multi‐million dollar private, public and bought‐ deal financings in the mining and natural resource sectors. Mr. Dembicki’s industry designations include: Canadian Securities Course (CSC), Conduct and Practices (CPH) and Wealth Management Essentials (WME). Throughout his tenure at Canaccord, he continuously added to his compliance and education credits, positioning himself above the industry standards of continuing education. Mr. Dembicki is a Graduate from the University of Washington in Seattle, with a degree in Communications.

5.2 Disclosure for Restructuring Transactions

Not applicable.

Item 6 Reliance on subsection 7.1(2) of National Instrument 51–102

Not applicable.

Item 7 Omitted Information

Not applicable.

Item 8 Executive Officer

Ivan Bebek Chair and Director Telephone: (778) 729‐0600

Item 9 Date of Report

January 20, 2021.