Mithril Expands Silver Rich Target 5, Sampling up to 3,300 g/t Silver, 2.0 g/t Gold over 1.30m

Executive Summary

• First nine drill holes at Target 5 (historic Apomal mine area) have been completed; assays are pending.
• Surface and underground channel samples from Target 5 returned standout grades up to 3,300 g/t Ag and 2.00 g/t Au over 1.40 m, plus multiple high‑grade intercepts (e.g., 10.25 g/t Au – 895 g/t Ag).
• Resource expansion drilling at Target 1 extended the east‑west mineralised structure an additional 300 m westward, increasing total strike length to >1,200 m (assays pending).

Key Details

• Target 5 – Silver‑rich area
• Nine drill holes completed (5,000 m program); assays pending.
• Underground sample highlights:
  • 3.1 m @ 2.02 g/t Au, 1,938 g/t Ag (Tasolera Mine Level 2) – includes 1.40 m @ 2.00 g/t Au, 3,300 g/t Ag
  • 0.6 m @ 10.25 g/t Au, 895 g/t Ag (Los Martires)
  • 0.9 m @ 3.31 g/t Au, 219 g/t Ag (Los Martires)

• Surface sample highlights:

  • 0.5 m @ 3.89 g/t Au, 157 g/t Ag (La Candelaria)
  • 0.65 m @ 3.75 g/t Au, 555 g/t Ag (Apomal)
  • 0.6 m @ 24.5 g/t Au, 670 g/t Ag (Apomal)
  • 0.5 m @ 4.69 g/t Au, 520 g/t Ag (Los Martires)

• Target 1 – Resource extension

• Drilling extended the main mineralised structure 300 m westward; total strike now >1,200 m.

• Assays for this extension are pending.

• Target 3 – Preparations

• Systematic mapping and sampling underway; maiden drilling planned for coming months with a third drill rig to be added in early 2026.

• District‑wide activities

• Aerial magnetic survey (closely spaced) scheduled later this month.
• Petrographic fluid‑inclusion study ongoing to support district‑scale geologic model development.

• Mineralised horizon now traced over >1,300 m vertical across a 9 km north‑south corridor (Santa Cruz to El Jarillal).

• Funding & Outlook

• Company is fully funded to complete 45,000 m of drilling over the next 12–14 months.
• Plans include adding a third drill rig at Target 3 in early 2026 and continuing exploration across multiple targets to expand the district‑scale potential.

Notable Quotes

“Drilling at the silver‑rich Target 5 is off to a strong start, with the first nine holes now complete at the historic Apomal mine area (assays pending),” – John Skeet, Managing Director & CEO.