Prince Silver secures second drill rig for Prince

Executive Summary

• Prince Silver Corp. has expanded its reverse circulation (RC) drilling program at the Prince silver project in Nevada by approximately 9,000 feet, bringing the total planned drilling to 30,000 feet (approx. 9,100 metres).
• A second drill rig is expected to arrive mid-January to accelerate exploration, with the primary goal of upgrading historical mineralization and supporting a maiden mineral resource estimate in 2026.
• The company reported a strong cash position of approximately $5 million as of October 31, 2025, providing financial flexibility to continue exploration and marketing initiatives without immediate need for additional financing.

Key Details

• Drilling Program Expansion: The RC drilling program has been expanded by ~9,000 feet, totaling a planned 30,000 feet (approx. 9,100 metres).
• Equipment: A second drill rig is secured and expected on-site mid-January to increase efficiency and pace.
• Drill Results Status: The first batch of drill results has been delayed because a significant number of samples exceeded the upper detection limits for manganese in the initial analysis, requiring overlimit reanalysis.
• Result Timeline: Complete analytical results are expected to be received mid-January 2026.
• Technical Objectives: The program focuses on near-surface, open-pittable mineralization and aims to support a maiden mineral resource estimate in 2026.
• Financial Position: Cash position of approximately $5 million as of October 31, 2025.
• Strategic Context: Management highlights that gold, silver, and manganese have been officially designated by the U.S. government as strategic metals, positioning the company favorably.
• 2026 Marketing Schedule:
  • Vancouver Metals Investor Forum: Jan. 23–24, 2026
  • World Outlook Conference: Feb. 6–7, 2026
  • Toronto Metals Investor Forum: Feb. 27–28, 2026
  • PDAC Convention: March 1–4, 2026

Notable Quotes

• Derek Iwanaka, CEO: "We are encouraged by early indications from the drill program, including numerous manganese assay values that exceeded the limits of the initial analytical methods requiring overlimit assay. As we continue to advance drilling and expand the program, our priority remains on delivering reliable results and building a robust technical foundation for the Prince silver project."