Silver One Closes Private Placement Financing and Comments on Recent Trading Activity

Vancouver, British Columbia--(Newsfile Corp. - January 7, 2019) - Silver One Resources Inc. (TSXV: SVE) (OTC Pink: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce that it has closed its previously announce private placement financing (see news releases dated December 27, 2018 and January 3, 2019) by issuing 4,158,334 Units at a price of C$0.15 per Unit for gross proceeds of C$623,750. Silver One also wishes to comment on the recent high level of trading activity that has occurred. The Company is not aware of any other specific factors, other than information previously disclosed in its public filings, news releases or statements, which would result in the levels of trading activity and change in the share price recorded in recent days.

Under the private placement, each Unit consists of one common share ("Share") in the capital of the Company and one-half of one share purchase warrant (each whole warrant being a "Warrant" of the Company). Each whole Warrant will entitle the holder to purchase one share at an exercise price of C$0.20 per share for a period of three years from the date of the issue of the Warrants.

Directors and officers purchased 134,667 Units under the private placement. The sale of securities to the Company's directors and officers is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions as the fair market value of the securities purchased in the private placement by the Company's directors and officers is less than 25% of the Company's market capitalization.

Under the Private Placement, the Company issued to a finder a total of 20,000 Warrants. The securities issued in connection with the Private Placement will be subject to a hold period of 4 months from the date of issuance, in accordance with applicable securities laws. The net proceeds from the Private Placement are expected to be used to conduct drilling on the Peñasco Quemado project in Mexico and for working capital.

The securities issued under the private placement have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, any securities issued under the private placement to United States purchasers may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to exemptions therefrom. The Company does not intend to file a registration statement in the United States with respect to the securities issued in the private placement. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities to, or for the account or benefit of, persons in the United States.

The Company announces that it has entered into an investor relations agreement with Wallace Hill Partners Ltd. ("Wallace Hill") to provide digital marketing services to the Company. Under the terms of the engagement, the Company has agreed to pay US$50,000 for the services to be provided for a period of two months. Neither Wallace Hill nor its directors or officers own any securities of the Company.

About Silver One

Silver One is focused on the exploration and development of quality silver projects. The Company holds an option to acquire a 100%-interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits.

The Company has staked 636 lode claims and entered into a Lease/Purchase Agreement to acquire five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along-strike.

In addition, the Company also holds a 100% interest in three significant silver assets located in Mexico - Peñasco Quemado, Sonora; La Frazada, Nayarit; and Pluton, Durango, acquired from First Mining Gold, one of the Company's largest shareholders.

For more information, please contact:

Silver One Resources Inc.
Monica Hamm - VP, Investor Relations
Phone: 604-974‐5274
Mobile: 778-389-9928
Email: mhamm@silverone.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Silver One's control. Such factors include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.