Silver One Intersects 472 g/t Silver, 0.6 g/t Gold, plus 0.87% Lead - 1.10% Zinc, Extending Down-Dip Mineralization 400 Metres Beyond Open-Pit Resource

Silver One Resources Inc. released the first assay results from its 2026 Candelaria reverse circulation (RC) drilling campaign, which has completed two of four planned holes for a total of 2,077 meters drilled.

Hole SOC26-196A returned 9.14 meters averaging 472 g/t Ag, 0.68 g/t Au, 0.87% Pb, and 1.10% Zn from a depth of 542.55 meters. This interval is part of a wider 25.91-meter zone averaging 215 g/t Ag, 0.33 g/t Au, 0.43% Pb, and 0.55% Zn. The company reported that the hole extends mineralization approximately 400 meters down-dip north from the nearest hole used in the 2025 resource estimate, with true widths estimated at about 94% of the drilled intercepts.

Hole SOC26-197 intersected 3.05 meters at 454 g/t Ag, 0.68 g/t Au, 1.45% Pb, and 1.77% Zn from 391.67 meters, followed by 4.58 meters at 112 g/t Ag, 0.16 g/t Au, 0.24% Pb, and 0.42% Zn from 403.86 meters. Assays for the remaining two holes, SOC26-198 and SOC26-199, are pending.

The release also provided updated metallurgical context based on 2023 flotation tests, which recovered 62% Ag, 72% Au, 50% Pb, and 37% Zn. Subsequent cyanidation of flotation tails increased silver recovery to approximately 77.5% and gold recovery to approximately 82%. Silver One Resources Inc. now plans to advance its pre-feasibility study using conventional cyanide extraction rather than Extrakt proprietary solutions, with completion targeted by the end of 2026.

Silver One Resources Inc. (SVE) has released drill results from a 400-meter down-dip step-out beyond the resource used in its 2025 estimate. This interval is distinct from routine infill drilling and, if follow-up work confirms continuity, could add a meaningful high-grade silver-gold-lead-zinc panel to the company’s resource base. The company already possesses a substantial resource base and is advancing toward a Preliminary Feasibility Study (PFS).

The market has not yet priced this development as a certainty. Silver One’s stock has experienced significant volatility, rising from approximately C$0.37 in September 2025 to C$0.86 in late January 2026, before falling back to C$0.42 by mid-September 2026. This decline follows a C$32 million financing completed at C$0.58 per unit, during which Eric Sprott increased its stake to approximately 16%. With the current share price of C$0.42 trading below that financing level, sentiment remains weak and expectations are not stretched.

The reported intersection features excellent grades and credible true width. However, the data is not yet considered transformational. Only two holes have been assayed, no resource update has been provided, metallurgy remains preliminary, and the deepest interval reached is 542 meters.

Silver One Resources Inc. (SVE) is a silver-focused explorer and developer that currently generates no operating revenue. The company’s flagship asset is the 100%-owned Candelaria Project in Nevada, a past-producing silver mine that holds measured and indicated resources, heap-leach pad material, and is undergoing a preliminary feasibility study (PFS).

According to prior releases, total Candelaria resources stood at 126.6 million ounces AgEq in Measured and Indicated categories following an August 2026 heap-leach pad upgrade, with an additional 13.4 million ounces AgEq classified as Inferred. The company also holds other assets, including the Phoenix Silver Project in Arizona, which features very high-grade native silver surface occurrences and a porphyry copper target, and the Cherokee Project in Lincoln County, Nevada, a silver-copper-gold vein system.

Regarding funding, Silver One closed a C$32 million financing in early 2026 at C$0.58 per unit. Eric Sprott subscribed approximately C$10 million and holds around 16% of the company on a non-diluted basis.

Financial data from the prior period, not disclosed in today’s release, shows a Q1 2026 net loss of C$876,870. As of that period, the company held C$8.85 million in cash and C$28.17 million in short-term investments. Working capital at March 31, 2026, was C$35.42 million, with total equity standing at C$77.57 million. The book value per share was C$0.22, which is below the current market price of C$0.42. With 353,027,340 shares outstanding, the company’s approximate market capitalization is C$148 million.