Magma Silver receives phase 1 Ninobamba assays

Mr. Stephen Barley reports MAGMA SILVER NIÑOBAMBA PHASE 1 WORK PROGRAM RETURNS SIGNIFICANT RESULTS INCLUDING 14.56G/MT AU AND 10.59 OZ/MT AG Magma Silver Corp. has provided an update on the Q3 continuing work program on the Jorimina and Randypata properties on the advanced Ninobamba silver-gold project in Peru. Highlights: Phase 1 assays have confirmed or exceeded the historical Newmont Mining Corp. results. Four old mine workings located immediately north of the Jormina Central project were sampled with five samples averaging 5.32 g/mt (grams per metric tonne) Au (gold) and 4.812 ounces/mt Ag (silver). Results ranged from 0.50 g/mt to 14.56 g/mt Au and 0.604 oz/mt Ag to 10.594 oz/mt Ag. Phase 2 work program commenced this week, with results expected within the next few weeks. Phase 1 Q3 work program results The phase 1 field campaign lasted 10 days. It was conducted by senior geologist Edgar Leon (see news release dated July 16, 2025) and junior geologist Miller Fernandez, with the support of six community members from the local Tunsulla community. The main goal was to visit the Jorimina Central project (also known as the Red zone) to collect geochemical samples and structural data on faults, veining and fracturing. Additional visits were made to the surrounding areas of Jorimina SE, Rafaela and Red Cliff. community members from Tunsulla helped rehabilitate and improve access to the visited regions, particularly a road that had been abandoned since Newmont's earlier work. Seventy-five samples were collected during phase 1 and analyzed at the independent mining lab services based in Huancayo in south-central Peru. The analysis method was by fire assay, and every 10th sample will be reassayed at another independent assay lab in Lima, Peru, for quality control. The gold and silver sampling results showed good correlation with those obtained previously by Newmont: In Jorimina Central, where the strongest alteration and geophysical chargeability anomaly occur, 50 samples averaged 0.181 g/mt Au and 0.227 oz/mt Ag, with one sample (SA-035) reaching 1.0 g/mt Au. Four old mine workings located immediately north of the Jormina Central were sampled with five samples averaging 5.32 g/mt Au and 4.812 oz/mt Ag. Results ranged from 0.50 g/mt to 14.56 g/mt Au and 0.604 oz/mt Ag to 10.594 oz/mt Ag. In Jorimina NE, 10 samples averaged 0.135 g/mt Au and 0.0656 oz/mt Ag, with two samples showing 0.20 g/t Au. In Rafaela, 10 samples averaged 0.21 g/mt Au and 1.1652 oz/mt Ag, with a maximum of 0.4 g/mt Au and 7.0 oz/mt Ag (SA-067). Stephen Barley, chairman and chief executive officer of Magma, stated: "The Ninobamba project is comprised of three contiguous properties now controlled by Magma, totalling 4,100 hectares: the Jorimina, Randypata and the Ninobamba Main. The Q3 work program consists of sampling and additional geological mapping, which is divided into two phases. It is designed to confirm historical results on the Jorimina and Randypata properties and to assist in drill targeting and orientation for a planned drill program in Q4. The phase 1 results have confirmed the accuracy of the historical Newmont results and, in some instances, have exceeded the earlier results. The phase 2 work program has commenced this week, and the results are expected within the next few weeks. The phase 2 program will focus on additional sampling of other property features, including the two km long untested silver anomaly on the Randypata property. Community engagement has been excellent." Jorimina and Randypata properties -- Newmont Mining The historical exploration work conducted by Newmont on the Jorimina and Randypata properties consisted of 3,536 rock samples, 2,988 channel samples, ground magnetics and 4,377 metres (Jorimina) and 3,504 metres (Randypata) of diamond drilling and assays. Results included: Hole JM1: from 53.1 to 125.4 (72.3 m) 1.19 g/t gold and from 184.75 to 209.35 (24.6 m) 1.07 g/t of gold. Results and discussion are provided in Newmont's internal report dated January, 2010, "Informe Tecnico y Geologic Proyecto Ninobamba Mayo - Diciembre 2009." (See news release dated July 23, 2025.) Newmont conducted more than two years of prospecting and exploration on only the Jorimina and Randypata properties at a total cost of $10-million. Newmont had no interest in the Ninobamba Main property that Bear Creek and AngloGold controlled. Newmont was focused on gold and did not drill test features such as the two km long silver anomaly on the Randypata property. Newmont prepared an internal report dated August, 2011, on the results and conclusions from the exploration work conducted on Jorimina and Randypata. Newmont undertook a fatal flaw analysis and completed metallurgical testing. In this non-reported internal analysis, operating costs that were typically used in the industry at that time were considered in accordance with the scale of exploitation of the project and the type of mineral treatment. A conservative projection of prices for the price of gold and silver (gold: $1,200 (U.S.)/ounce and silver: $22 (U.S.)/ounce) were used. The estimated investments, based on a scale of operation for the project and infrastructure, were derived from examples of Peruvian mining operations. Based on this internal study, Newmont concluded that if the conceptual assumptions used in the assessment were verified, a medium-scale economic operation could be possible, and with the possibility of expanding the operation based on the potential of additional mineralization. Readers are cautioned that the Newmont internal analysis is not compliant with National Instrument 43-101 requirements. The modelling was based on limited drilling and assumptions. The report will assist in guiding Magma on future exploration efforts. Magma's qualified person has not verified the Newmont assessment or done sufficient work to classify the historical estimate as current. Magma does not consider the internal report to be a current economic assessment. Qualified person Jeffrey Reeder, PGeo, a qualified person as defined in National Instrument 43-101 and a senior technical adviser of the company, has prepared, or supervised the preparation of, and approved the scientific and technical disclosure contained in this news release. About Magma Silver Corp. Magma Silver is a natural resources exploration company with a focus on acquiring, exploring, developing and operating precious metal mining projects. Listed on the TSV Venture Exchange (MGMA), OTCQB (MAGMF) and Frankfurt exchange (BC21), the company's primary focus is on exploring and developing the advanced Ninobamba silver-gold project in the mining-friendly country of Peru. Ninobamba spans an eight km mineralized corridor in a prolific geological belt of a high-sulphidation epithermal system. Extensive exploration by Newmont, AngloGold Ashanti Ltd., Bear Creek Mining Corp. and others, has demonstrated significant resource potential with over $14.5-million invested to date. Magma Silver is advancing its Ninobamba project using modern geological modelling and a strategic development plan. The property has excellent infrastructure, strong relationships with local communities and a regional technical team with over 50 years of mining experience in Peru. We seek Safe Harbor.