Fabled Silver Gold Corp Amends Option Agreement and Proposes Share Consolidation

VANCOUVER, BC / ACCESSWIRE / December 20, 2022 / Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) wishes to announce that it has further amended the payment

VANCOUVER (BC) / ACCESSWIRE / Dec 20, 2022/ Fabled Silver Gold Corp. (FCOFBSGF) has sent meeting materials to inform shareholders of the Company's proposed consolidation. The payment amount is due on or before January 31, 2023 at 250,000 On or before February 30, 2023 at 250,000On and before September 30, 2020 at 250,000On and before December 31, 2023 at the Bank of Canada Daily rate. The Company's management believes that consolidation of the Common Shares could increase the Company's flexibility and provide additional opportunities for business transactions.

The approval of the Consolidation Proposal does not mean that a consolidation will occur, as the Board will have the discretion not to proceed with a consolidation if it is deemed to be in the best interests of the Company not to do so.The Company currently has 215,446,649 Common Shares issued and outstanding. Following the completion of a consolidation, the number of Common Shares of the Company issued and outstanding will depend on the consolidation ratio selected by the Board. The following table sets out the approximate number of Common Shares that would be outstanding after the completion of a consolidation at the ratios suggested below, and if such consolidation were to be effected as at the date hereof:Selected Proposed Consolidation Ratios(1)Approximate Number of Outstanding CommonShares (Post Consolidation)(2) (3)1 for 2107,723,3251 for 371,815,5501 for 543,089,3301 for 730,778,0931 for 1021,544,665Notes:The ratios above are for illustrative purposes only and are not indicative of the actual ratio that may be adopted by the Board.The exact number of Common Shares outstanding after the Consolidation will vary based on the elimination of fractional shares, and certain other factors.Based on the number of outstanding Common Shares as at the date hereof, being 215,446,649 which is subject to change prior to the date any consolidation is effected.The Board is recommending that shareholders approve the Consolidation Proposal at the Meeting.

The Company is not expected to change its name or trading symbol in conjunction with any consolidation; however, it may be required to apply for a new ISIN and CUSIP number for any post consolidated Common Shares. The exercise price and number of Common Shares issuable pursuant to the exercise of any outstanding convertible securities, including stock options and warrants, will also be adjusted in accordance with the Board's chosen consolidation ratio if a consolidation is effected pursuant to the Consolidation Proposal, if approved.Any consolidation that the Board decides to effect is subject to the approval of the Consolidation Proposal at the Meeting and any required regulatory approvals including the approval of the TSXV.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 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) __EMAIL__or further information please contact: __EMAIL__he technical information contained in this news release has been approved by Peter J. Hawley, P.Geo.

President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information.

Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus orother epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at URL. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.SOURCE: Fabled Silver Gold CorpView source version on accesswire.com: URL