Guanajuato Silver plans 75,000 m of drilling for 2026

Executive Summary

• Guanajuato Silver Company Ltd. announced a record-breaking 2026 drilling program totaling approximately 75,000 metres, representing a massive increase over previous years to expand mineral resources and establish initial mining reserves.
• The company provided consolidated 2025 production results, reporting significant silver and gold output from its Bolanitos mine and combined production from its Topia, El Cubo, Valenciana, and San Ignacio mines.
• The 2026 drilling strategy focuses on derisking mine plans for 2026-2027, establishing initial reserves at all mines except Bolanitos, and expanding the resource base at existing assets and the Horcon exploration project.

Key Details

• 2026 Drilling Guidance:
  • Total planned drilling: ~75,000 metres.
  • This represents a 731% increase over 2025 and a 1,660% increase over 2024.
  • Exploration Drilling: ~45,000 metres (2,021% increase over 2025; 6,428% increase over 2024).
  • Infill Drilling: ~30,000 metres (374% increase over 2025; 785% increase over 2024).
• 2026 Drilling Objectives:
  • Establish initial mining reserves at all mines except Bolanitos (which already has a reserve base from Endeavour Silver).
  • Derisk 2026 and 2027 mine plans through adequate infill drilling to meet grade, tonnage, and development objectives.
  • Establish or expand current mineral resources at all mines and the Horcon exploration asset (located 80km northwest of Guanajuato in Jalisco).
• Permitting Status:
  • Surface drilling permits expected for Bolanitos, Cubo, and Horcon before the end of Q2 2026.
  • No additional permits required for underground drilling activities.
• 2025 Production Results:
  • Bolanitos Mine: 608,388 ounces of silver and 15,270 ounces of gold.
  • Consolidated Production (Topia, El Cubo, VMC, San Ignacio):
    • 1,238,866 silver ounces.
    • 10,321 gold ounces.
    • 2,787,175 pounds of lead.
    • 3,380,069 pounds of zinc.
• Management Commentary:
  • Chairman and CEO James Anderson stated the company is "best positioned to expand its mineral resources" and is making "considerable investments required to grow our resources, establish our first reserve estimates and generate long-term production growth."

Notable Quotes

• "In 2026, we will be significantly expanding our drilling budgets to ensure Guanajuato Silver is best positioned to expand its mineral resources at all of its assets in Mexico. Sufficiently capitalized, we can now, for the first time in the company's history, make the considerable investments required to grow our resources, establish our first reserve estimates and generate long-term production growth." — James Anderson, Chairman and CEO