CEO LETTER TO SHAREHOLDERS
Outcrop Silver Touts Drilling Wins, Eyes U.S. Listing After Transformative Year

The most recent news, a CEO letter to shareholders dated December 17, 2025, provides a comprehensive summary of the company's operational, financial, and strategic achievements throughout 2025 and outlines the key objectives for 2026.
The CEO letter is a summary of a highly successful year and does not contain new, previously unannounced material information. Therefore, its direct impact is routine. However, the contents of the letter, viewed in the context of the year's news flow, confirm a pattern of consistent execution and significant de-risking of the Santa Ana project.
Outcrop Silver & Gold Corporation is a Canadian mineral exploration company focused on its 100%-owned flagship Santa Ana project in the department of Tolima, Colombia. Santa Ana is a high-grade, primary silver project with historical mining records dating back to the 16th century. The company's strategy is to expand the existing NI 43-101 mineral resource through aggressive step-out and discovery drilling along a 17-kilometer permitted mineralized trend. The project is notable for its high silver grades, with significant gold credits.