Prince Silver talks 2025 drilling at Nevada project

Mr. Derek Iwanaka reports PRINCE SILVER PROVIDES UPDATE ON 2025 DRILLING PROGRAM AT THE PRINCE PROJECT, NEVADA Prince Silver Corp. has provided an update on its 2025 reverse circulation (RC) drilling campaign at the Prince silver project in Lincoln county, Nevada, located approximately three kilometres southwest of the historic mining town of Pioche. The program is advancing well, with eight RC drill holes now completed and the first set of assay results expected in early 2026. Advancing the largest modern drill program at Prince The fully financed 2025 drill program comprises approximately 30 planned RC holes totalling 21,000 feet (6,500 metres). Current drilling is focused on evaluating near-surface (less than 300 metres), carbonate replacement (CRD) silver-gold-manganese and base metal mineralization, and sediment-hosted gold-silver zones along a 3,500-foot (approximately 1,070 metres) structural corridor that ranges in width from 600 to 1,200 feet (approximately 180 to 360 metres). Mineralization at the project remains open in all directions within shallow zones presenting open pit mining potential. The Pioche mining district is one of Nevada's most well-known polymetallic camps, and historical records highlight the importance of the past-producing Prince mine within the camp. Previous production from the historic Prince mine totalled 1.12 million tonnes grading 4.5 per cent zinc, 100 grams per tonne (g/t) silver, 2.8 per cent lead and 0.5 g/t gold (Gemmill, 1970), mined from underground high-grade sulphide replacement zones within limestone and near-surface oxidized manganese-rich material. Derek Iwanaka, chief executive officer of Prince Silver, commented: "This is the largest modern drill program undertaken at the Prince project since historical drilling in 2012, and thus far we are very encouraged by the geological indicators we are seeing across the completed holes. With independent laboratory assaying for six holes now under way, we anticipate entering an interesting period of news flow for the company in the coming year. Results are expected to provide critical insight into the scale and continuity of mineralization across the 'exploration target,' as defined below and across the broader mineralized system helping to shape the next phase of drilling, with the objective of incorporating the new data into an initial 43-101 compliant mineral resource estimate. We believe Prince is just beginning to demonstrate its potential as a significant silver-gold-manganese (polymetallic) exploration asset in Nevada." Historical drilling at the Prince project identified an exploration target as outlined in an independent report prepared following Joint Ore Reserves Committee guidelines (JORC standards for the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) by OmniGeoX Exploration Consultants of Perth, Australia, based on historical surface and underground drilling. The report is titled "Prince project Exploration Target," dated April 24, 2024, authored by Dr. Lachlan Rutherford and Michael Martin (OmniGeoX Exploration Consultants, 2024, Prince project exploration target, independent report prepared for Prince Silver). The exploration target was based on 129 historic drill holes drilled through mineralized carbonate replacement beds and host Pioche shale up to 300 metres in depth. Mineralized polymetallic intersections based on historical block modelling suggest the immediate exploration target is between 25 and 43 Mt (million tonnes) with grades ranging from 1.44 to 1.57 per cent Zn, 0.78 to 0.87 per cent Pb, 0.28 to 0.40 g/t Au, 37 to 40 g/t Ag and 3.62 to 4.30 per cent Mn. More comprehensive details on the exploration target and historic production are also available in the company's press release dated Feb. 27, 2025, available on the company's website and at SEDAR+. Readers are cautioned that the exploration target is not an inferred, indicated or measured mineral resource compliant with National Instrument 43-101. The exploration target has been determined based upon 129 historic drill holes totalling 16,606 metres, historic production records including mine level plans and 3-D modelling of mineralization and geology. The potential quantity and grade of the exploration target is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource. 2025 drilling progress Previous drilling has documented substantial mineralized thicknesses at Prince, including CRD zones up to 370 feet (approximately 112 metres) and sediment-hosted gold-silver mineralization up to 160 feet (approximately 49 metres). The continuing program is designed to infill drill to reduce drill spacing between historic drill holes testing known mineralized zones continuity and through stepout drilling to test potential expansion of the known mineralized system using modern sampling, logging and analytical procedures. As of the date of this news release, the following RC holes have been completed to the following depths: PRC-26 -- 955 feet (291 metres); PRC-27 -- 925 ft (282 m); PRC-28 -- 920 ft (280 m); PRC-29 -- 920 ft (280 m); PRC-30 -- 890 ft (271 m); PRC-31 -- 955 ft (291 m); PRC-32 -- 945 ft (288 m); PRC-33 -- 950 ft (289 m). Continuous five-foot (approximately 1.5-metre) RC chip samples were collected from each hole, and all intervals were logged by a company geologist under the supervision of a registered professional geologist. Approximately 100 samples per hole were collected from mineralized zones for assaying, representing roughly 500 feet (approximately 152 metres) of assayed drill cuttings. Samples selected for assaying were based on mineralization and alteration. Outlook: With drilling and analytical work well under way, Prince Silver is expecting to enter a more news catalyst-rich period in 2026. The pending assay results represent the first major modern data set generated at the Prince project and are expected to refine geological models, guide follow-up targeting and help evaluate extensions of both the CRD and sediment-hosted systems. Quality assurance/quality control (QA/QC) The QA/QC program has been designed to meet or exceed CIM and AUSIMM standards. Duplicate samples are extensively used to provide verification both at the primary analytical laboratory and at a second independent laboratory as the program progresses. In addition, a certified field standard is inserted for each drill hole set, and sample blanks are randomly included, with no more than one per hole. All samples are shipped to the laboratory under secure, standard chain-of-custody procedures. Samples are analyzed using 43-element MS-ICP with aqua regia digestion. Samples exceeding limits for Mn, Zn or Pb are further tested using wet chemical assays. Most samples are also fire assayed for gold and silver using a one-assay-ton gravimetric method, and an average of four samples per hole will have specific gravity measurements conducted at the laboratory. The principal analytical laboratory for the program is Skyline Assayers & Laboratories Inc., located in Tucson, Ariz. Skyline is an ISO-accredited facility. Qualified person statement The technical information in this news release has been reviewed and approved by John Hiner, SME registered member and independent geological consultant to Prince Silver, who is a qualified person as defined by National Instrument 43-101. 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.