Silverco hires SGS to validate, update MRE at Cusi

Executive Summary

• Silverco Mining Ltd. has engaged SGS Canada Inc. to independently validate and update the historical 2020 Mineral Resource Estimate (MRE) for its 100%-owned Cusi property in Mexico.
• The updated MRE will incorporate up to 11,500 metres of new drilling data (including 2024 and 2025 programs), model the newly acquired San Miguel vein system for the first time, account for mining depletion, and apply tighter resource definitions to improve model quality.
• The company anticipates the updated MRE will be completed later this quarter, which is expected to allow Silverco to apply for Tier 1 issuer status on the TSX Venture Exchange.

Key Details

• Engagement: SGS Canada Inc. appointed to complete an independent validation and update of the 2020 historical MRE in accordance with National Instrument 43-101.
• Drilling Data Integration: The update will integrate up to 11,500 metres of Silverco drilling:
  • Approximately 6,000 metres from the continuing 2025 drill program.
  • 5,500 metres from the completed 2024 drill program.
• San Miguel Vein System: A new resource area for the San Miguel vein system (consolidated via inset claim acquisition) will be modeled for the first time. Key intercepts demonstrating open-ended potential include:
  • Hole CU-24-08: 7.5 metres grading 364 g/t silver equivalent (AgEq).
  • Hole CU-25-29: 8.6 metres grading 250 g/t AgEq.
• Resource Model Adjustments:
  • Accounting for approximately 900,000 tonnes of mining depletion since the 2020 effective date.
  • Tightening the inferred resource definition using a smaller search radius to reduce projection into undrilled areas.
  • Updating reporting cut-off grades based on new metal prices and inflation-adjusted cost estimates.
• Timeline and Strategic Goal: The updated MRE is expected later this quarter. Completion is anticipated to meet requirements for applying for Tier 1 issuer status on the exchange.
• Marketing Engagement: Silverco engaged Triomphe Holdings Ltd. (d/b/a Capital Analytica) for marketing and social media services under a consulting agreement dated Nov. 14, 2025.
  • Fee: $150,000 payable in two tranches.
  • Term: Initial six months.
  • Subject to TSX Venture Exchange approval.

Notable Quotes

• "The updated MRE is expected later this quarter. Once completed, the company anticipates meeting the requirements to apply for Tier 1 issuer status on the exchange."