Zacatecas Silver Secures Community Access Agreement at Panuco and Signs Drill Contract with Major Drilling

Executive Summary

• Zacatecas Silver Corp. signed a new community access agreement with the Ejido Panuco, securing surface access for future drilling at its flagship Zacatecas Silver Project.
• The company also executed a drill contract with Major Drilling (Mexico) for an initial 4,000 m of angled diamond drilling aimed at extending high‑grade mineralization and expanding the current Mineral Resource Estimate (MRE).
• The Panuco vein system remains open in all directions; historic high‑grade intercepts are highlighted to underscore exploration potential.

Key Details

• Community Access Agreement
• Approved unanimously by the Ejido Panuco, confirming local support for exploration activities.

• Provides surface access needed to apply for SEMARNAT drill permits; permitting expected to follow prior successful campaigns.

• Drill Contract with Major Drilling (Mexico)

• Contract previously announced is now fully executed.
• Contractor can mobilize immediately upon receipt of drilling permits.
• Initial program: 4,000 m of angled diamond drilling.

• Objective: target extensions of high‑grade mineralization within and beyond the current resource envelope to expand the MRE.

• Panuco Highlights (historical intercepts)

• 1.25 m @ 1,440 g/t AgEq (1,423.2 g/t Ag & 0.23 g/t Au) – reported 7 Apr 2022.

• 1.23 m @ 750 g/t AgEq (723 g/t Ag & 0.36 g/t Au) – reported 16 Feb 2022.

• Current Mineral Resource Estimate (updated 30 May 2023)

• 3.41 Mt @ 187 g/t AgEq (173 g/t Ag & 0.18 g/t Au) = 20.5 Moz AgEq

  • Equivalent to 19 Moz Ag and 19.2 koz Au.

• Exploration Outlook

• Panuco vein system remains open in all directions; drilling will focus on extending strike length and testing high‑grade intercepts outside the current resource.

Notable Quotes

• “The new agreement underscores strong local support for our exploration initiatives, and the drill contract positions us to rapidly advance our growth plan at Panuco,” – Eric Vanderleeuw, CEO & Director.