Prince Silver to increase drilling at Prince project

Executive Summary

• Prince Silver Corp. is expanding and accelerating its drilling program at the Prince Silver Mine project, increasing the planned scope from 21,000 feet to over 30,000 feet and adding a second reverse circulation (RC) drill rig next month.
• All 10 drill holes completed to date have encountered favorable alteration, with current focus on evaluating near-surface carbonate replacement silver-gold-manganese and base-metal mineralization, as well as sediment-hosted gold-silver zones.
• The first batch of assay results for the 10 completed holes is expected in January 2026, which will help guide subsequent drilling phases toward an initial NI 43-101 compliant mineral resource estimate.

Key Details

• Drilling Expansion: The planned drill program is increasing from 21,000 feet (approx. 6,400 metres) to over 30,000 feet (approx. 9,100 metres).
• Equipment: A second RC drill rig will be added to the site next month to accelerate drilling operations.
• Drilling Focus: Current drilling targets near-surface (less than 300 metres) mineralization, specifically:
  • Carbonate replacement silver-gold-manganese and base-metal mineralization.
  • Sediment-hosted gold-silver zones.
• Geological Context: Mineralization is located along a 3,500-foot (approx. 1,070-metre) structural corridor, ranging from 600 to 1,200 feet (approx. 180 to 360 metres) in width. Mineralization remains open in all directions within shallow, gently dipping zones suitable for potential open-pit mining.
• Assay Timeline: The first batch of assays for the 10 completed drill holes is expected in January 2026.
• Strategic Objective: Results will provide insight into the scale and continuity of mineralization to guide future drilling and support the development of a maiden mineral resource estimate.
• Historical Exploration Target: Based on 129 historic drill holes, the immediate exploration target ranges from approximately 25 million to 43 million tonnes with grades of:
  • Zinc: 1.44% to 1.57%
  • Lead: 0.78% to 0.87%
  • Gold: 0.28 to 0.40 g/t
  • Silver: 37 to 40 g/t
  • Manganese: 3.62% to 4.30%
• Corporate Governance: The company held its annual general meeting on Dec. 23, 2025, where shareholders approved the election of five directors (including CEO Derek Iwanaka), reappointed Davidson & Company LLP as auditor, and adopted a 20% rolling omnibus equity incentive plan.

Notable Quotes

• "The alteration encountered in the drill holes reinforce our confidence in the Prince silver mine project and support our decision to expand and accelerate drilling," said Derek Iwanaka, chief executive officer of Prince Silver. "With a second drill rig coming on site and assays pending, we are well positioned to advance the project toward a maiden mineral resource while continuing to test the broader mineralized system."