Hi Ho Silver Resources Inc. Announces Update on Canadian Kootenay Clay(TM)

Vancouver, British Columbia--(Newsfile Corp. - April 23, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) ("Hi Ho" or the "Company"), wishes to provide an update to its March 14, 2018 press release announcing that it had entered into an agreement for the worldwide distribution of "Canadian Kootenay Clay™ with NHP Industries Inc. ("The Representative"). The Company has the exclusive rights to a claim containing "Canadian Kootenay Clay" of the highest quality from the Illite clay property located in the Kootenay region in British Columbia, Canada.

The Representative, or its associate partners, is also committed to invest an additional $1,000,000 (one million Canadian dollars) in Hi Ho Silver Resources Inc. by way of a private placement subscription completed by March 31, 2018. Due to incremental winter weather, the Company has granted an extension until the removal of the clay commences, which the Company anticipates being some time in May.

About the Company

Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base-metal mineral deposits in North America and elsewhere.

On Behalf of the Board of Directors,

William Jorgenson

CHAIRMAN & CEO

For further information please contact:

Website: www.hihoresources.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.

This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.