Mithril Gives Exploration Update Including Channel Sample Results up to 4,520 g/t Silver, and 38.2 g/t Gold as Expansion of the District Continues at Copalquin, Mexico

On December 1, 2025, Mithril Silver and Gold provided an exploration update for its Copalquin project in Mexico. The key highlights include: - Exceptionally high-grade channel sample results, with values up to 4,520 g/t silver and 38.2 g/t gold. - Drilling continues at Target 1 (Refugio West, Zaragoza) and Target 5 (Apomal), with assays pending for eight additional drill holes at Target 5. - The company confirmed that Target 3 is drill-ready, with drilling scheduled to commence in early January 2026. - CEO John Skeet stated the company is fully funded for an aggressive 25,000-metre drill program planned for the first six months of 2026, aiming to systematically define a multi-target, district-scale system.

The news is Material - Positive. It demonstrates continued exploration success and operational execution, reinforcing the district-scale potential of the Copalquin project.

Mithril Silver and Gold Limited is a precious metals exploration company focused on its flagship Copalquin Gold-Silver District project in Durango, Mexico. The 70 km² property is located in the prolific Sierra Madre Gold-Silver Trend and hosts over 100 historic mines. The company's strategy is to define a multi-million-ounce, high-grade, district-scale system. The project currently has a JORC/NI 43-101 compliant maiden resource at the Target 1 area (El Refugio-La Soledad) of 529,000 AuEq ounces at 6.81 g/t AuEq.