Silverco Mining Intersects 1,712 g/t AgEq over 1.4 metres Adjacent to Near-Term Planned Stopes at Cusi

Executive Summary

• Silverco Mining reports initial underground assay results from its 100%-owned Cusi Property in Mexico, highlighting high-grade silver-equivalent intercepts from the first four drill holes at the Promontorio zone.
• The infill drilling supports the company's planned H2 2026 mine restart, with results confirming grades and widths consistent with the PEA resource, offering opportunities to reduce initial development costs and enhance near-term economics.
• The 2026 exploration program targets 30,000 metres of diamond drilling (10,000m underground, 20,000m surface) to optimize early mining plans, expand known mineralization, and explore new targets ahead of a planned H1 2027 resource update.

Key Details

• Drill Program Scope: 30,000 metres total diamond drilling in 2026 (10,000m underground, 20,000m surface).
• Primary Objectives: Infill prospective areas for early mining at Promontorio and San Miguel; expand known mineralization at San Miguel; explore targets at San Miguel, Eduwiges, and San Juan.
• Promontorio East Veins Resource Context: Measured & Indicated Resource grades of 295 g/t AgEq; Inferred Resource grades of 301 g/t AgEq.
• Drill Hole Highlights (First 4 holes, Promontorio):
• UGCU-26-01: 428 g/t AgEq over 1.1 m (38.0-39.1 m)
• UGCU-26-02: 1,712 g/t AgEq over 1.4 m (69.8-71.2 m)
• UGCU-26-03: 303 g/t AgEq over 8.3 m (36.7-44.9 m)
• UGCU-26-04: 160 g/t AgEq over 3.2 m (52.5-55.6 m)
• Additional Significant Assays (Table 1):
• UGCU-26-01: 179 g/t AgEq over 1.0 m (44.0-45.0 m)
• UGCU-26-03: 470 g/t AgEq over 0.8 m (47.6-48.3 m)
• UGCU-26-04: 840 g/t AgEq over 0.3 m (74.5-74.8 m)
• PEA Economics & Restart Timeline: Targeting restart in H2 2026. PEA outlines 2.47 Moz AgEq/year production, AISC of $26.75/oz payable AgEq (2028-2032). After-tax NPV: $104.1M at $44.58/oz Ag (94.8% IRR, 0.9-yr payback); $312.2M at $75.00/oz Ag (186.9% IRR, 0.5-yr payback). Upfront capital: $19.2M.
• Operational Status: Underground rehabilitation complete in Q1 2026. Contractor mobilization expected by end of Q2 2026. Initial concentrate production planned for late 2026.
• QA/QC & Lab: Samples sent to ALS Minerals (Chihuahua prep, North Vancouver analysis). ISO/IEC 17025 certified. AgEq calculation uses $30/oz Ag, $2,400/oz Au, $1.00/lb Pb, $1.35/lb Zn. Recoveries: 90% Ag, 50% Au, 90% Pb, 60% Zn. True widths estimated at 65-95% of downhole core lengths.
• Technical Disclosure: Reviewed by Nico Harvey, P.Eng., VP Project Development (Qualified Person, not independent).

Notable Quotes

• Mark Ayranto, CEO: "We are encouraged by the initial results from our 2026 Cusi drill program which have identified additional mineralization within the footprint of the first year of the Preliminary Economic Assessment ("PEA") mine plan. With grades and widths consistent with our resource, these results highlight the opportunity to lower initial underground development, bring more tonnage forward and enhance project economics from the US$312 million after-tax NPV outlined in the PEA at silver prices in line with current levels. With dewatering and underground rehabilitation complete in Q1 2026, this is our first underground drilling at Promontorio, and the results reinforce our confidence in the vein system as we move toward a restart in H2 2026, with mobilization of underground contractors and commencement of development planned in the coming weeks."