Silverco target Nuevo closes La Negra acquisition

Executive Summary

• Silverco Mining Ltd. has received confirmation that Nuevo Silver Inc. has completed the purchase of the La Negra mine in Queretaro, Mexico.
• Silverco is proceeding with the proposed acquisition of Nuevo Silver, which now holds 100% interest in the producing La Negra mine.
• The parties are continuing negotiations for a definitive agreement and working to satisfy remaining conditions, including due diligence, board approval, and TSX Venture Exchange approval.

Key Details

• Transaction Status: Silverco is proposing to acquire 100% of Nuevo Silver Inc. pursuant to a previously announced binding letter agreement.
• Target Asset: Nuevo Silver has completed the acquisition of the La Negra mine, a producing silver mine located in Queretaro, Mexico.
• Previous Agreements:
  • Silverco announced the proposed acquisition on January 20, 2026.
  • Nuevo Silver entered into a share purchase agreement (SPA) effective January 18, 2026, to acquire the La Negra mine.
• Remaining Conditions: The transaction is subject to:
  • Negotiation of a definitive agreement.
  • Completion of Silverco’s due diligence.
  • Silverco’s assessment of potential benefits.
  • Silverco board approval.
  • Conditional approval from the TSX Venture Exchange.

Notable Quotes

• "Nuevo Silver has advised the company that Nuevo Silver's purchase of the La Negra mine in Queretaro Mexico has been completed."