BP Silver finalizes drill targets at Cosuno

Executive Summary

• BP Silver Corp. has finalized targets for its inaugural drill program at the Cosuno silver project in Bolivia and selected Maldonado Exploraciones as the drilling contractor.
• The company has expanded the drilling program following a successful $2.5-million financing completed last month.
• Drilling is scheduled to commence in early November, targeting four defined areas with silver-rich polymetallic mineralization.

Key Details

• Drilling Contractor: Maldonado Exploraciones, a premier Bolivian drilling contractor, has been selected to carry out the program.
• Project Location: Cosuno silver project, Bolivia.
• Project Geology: The project features a large, untested silver-rich hydrothermal system outcropping over approximately 10.5 square kilometres. Remote sense analysis, surface mapping, and geochemical sampling confirm advanced argillic alteration and an associated outcropping mineralized lithocap.
• Target Definition: Four targets have been defined containing silver-rich polymetallic mineralization.
• Assay Highlights: Grades up to 1035 grams per tonne silver have been identified in the targets for initial drilling testing.
• Program Expansion: The drill program has been expanded to include additional drill holes, a decision driven by the recent $2.5-million financing.
• Timeline: Drill pad preparation is currently underway, with drilling anticipated to commence in early November.
• Qualified Person: Dr. Stewart D. Redwood, PhD, FIMMM, has reviewed and approved the technical information under National Instrument 43-101.

Notable Quotes

• "We are pleased to be moving forward with Maldonado for our inaugural drilling at the Cosuno silver project. Following last month's successful $2.5-million financing, we have expanded the program to include additional drill holes. We have waited patiently for this moment, and with record-high silver prices, the timing couldn't be better." — Tim Shearcroft, Chief Executive Officer