Prince Silver to increase drilling at Prince project

Mr. Derek Iwanaka reports PRINCE SILVER TO EXPAND AND ACCELERATE DRILLING PROGRAM AT THE PRINCE SILVER MINE Prince Silver Corp.'s continuing reverse circulation drilling program has encountered favourable alteration in all 10 drill holes completed to date at the Prince silver mine project. Furthermore, the company will increase the planned drill program from 21,000 feet (approximately 6,400 metres) to over 30,000 feet (approximately 9,100 metres) and accelerate drilling with the addition of a second RC drill rig next month. Current drilling is focused on evaluating near-surface (less than 300 metres) carbonate replacement silver-gold-manganese and base-metal mineralization, as well as sediment-hosted gold-silver zones, along a 3,500-foot (approximately 1,070-metre) structural corridor ranging from 600 to 1,200 feet (approximately 180 to 360 metres) in width. Mineralization at the project remains open in all directions within shallow, gently dipping mineralized zones that present potential for open-pit mining. The first batch of assays for the 10 completed drill holes is expected in January, 2026. Results will provide important insight into the scale and continuity of mineralization across the exploration target (as defined below) and the broader mineralized system and to help guide subsequent phases of drilling with the objective of incorporating new data into an initial National Instrument 43-101-compliant mineral resource estimate. "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." Exploration target Historical drilling at the project identified an exploration target outlined in an independent historical report prepared in accordance with Joint Ore Reserves Committee guidelines by OmniGeoX Exploration Consultants of Perth, Australia. The report titled "Prince Project Exploration Target" (dated April 24, 2024), was written by Dr. Lachlan Rutherford and Michael Martin (OmniGeoX Exploration Consultants, 2024, independent report prepared for Prince Silver). The exploration target is based on 129 historic drill holes testing mineralized carbonate replacement beds and hosts Pioche shale to depths of up to 300 metres. Historical block modelling of polymetallic mineralization suggests the immediate exploration target ranges from approximately 25 million to 43 million tonnes with grades of 1.44 to 1.57 per cent zinc, 0.78 to 0.87 per cent lead, 0.28 to 0.40 gram per tonne gold, 37 to 40 g/t silver and 3.62 to 4.30 per cent manganese. Dr. Rutherford and Mr. Martin are competent persons as defined under the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Additional details on the exploration target and historic production are available in the company's press release dated Feb. 27, 2025, filed on SEDAR+ (Prince Silver 2025 historic drilling and production summary). Readers are cautioned that the exploration target is not a mineral resource as defined under National Instrument 43-101. The exploration target is conceptual in nature and based on historic drilling totalling 16,606 metres, historic production records, mine level plans and 3-D geological modelling. There has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration will result in the delineation of a mineral resource. Annual general meeting results Prince Silver held its annual general meeting of shareholders on Dec. 23, 2025. Shareholders approved all matters presented, as set out in the company's management information circular dated Nov. 25, 2025, including: Setting the number of directors at five; Election of Mr. Iwanaka, Ralph Shearing, Marco Montecinos, Darrell Rader and Robert Wrixon as directors until the next annual meeting or until their successors are appointed; Reappointment of Davidson & Company LLP as auditor for the ensuing year; and Adoption of the company's 20-per-cent rolling omnibus equity incentive plan. The company thanks former director Neil MacRae, who did not seek re-election, for his valuable guidance and support. Ralph Shearing, PGeo (Alberta), a qualified person under National Instrument 43-101, director and president of the company, has reviewed and approved the technical disclosure in this news release. About Prince Silver Corp. Prince Silver is a silver exploration company advancing its flagship Prince silver project in Nevada, United States, featuring a near-surface, historically drilled deposit that remains open in all directions. The company also holds an interest in the Stampede Gap project, a district-scale copper-gold-molybdenum porphyry system located 15 kilometres north-northwest, highlighting Prince Silver's focus on high-potential, strategically located exploration assets. We seek Safe Harbor.