Tier One begins drilling at Curibaya

Executive Summary

• Tier One Silver Inc. has commenced Phase 2 drilling at its Curibaya epithermal silver-gold-copper project in Peru, marking the first follow-up program since the 2021 inaugural campaign.
• The program focuses on the undrilled, high-grade Cambaya 1 corridor, located over 250 meters above Phase 1 areas, aiming to test vertical continuity of high-grade mineralization identified via surface channel sampling.
• The initial phase consists of approximately 1,150 meters across seven diamond drill holes from four platforms, expected to be completed in Q1 2026, with parallel channel sampling planned to define structural geometry.

Key Details

• Drilling Contractor: San Jose Drilling (Peruvian contractor).
• Target Area: Cambaya 1 corridor (undrilled, high-level portion of the epithermal system) and the Sambalay corridor.
• Phase 2 Scope: Approximately 1,150 meters across seven diamond drill holes from four platforms.
• Completion Timeline: Expected to be completed in the first quarter of 2026.
• Permit Status: Conducted under an existing drill permit valid until October 2026, allowing for up to 200 drill holes from 22 pads.
• Platform 1 Targets: Testing beneath channel samples 55 and 80, which returned:
  • 20 meters of 243 g/t Ag and 0.71 g/t Au.
  • Including 7 meters of 667 g/t Ag and 1.48 g/t Au.
  • Including 4.5 meters of 408 g/t Ag and 1.48 g/t Au.
  • Including 1 meter of 1,768 g/t Ag and 6.33 g/t Au.
• Platform 2 Target: Testing beneath channel sample 34, which returned 11 meters of 232 g/t Ag and 1.61 g/t Au, including 1 meter of 1,660 g/t Ag and 13.95 g/t Au.
• Platform 3 Target: Testing beneath channel sample 56, which returned 8 meters of 349 g/t Ag and 0.46 g/t Au, including 1 meter of 2,680 g/t Ag and 3.14 g/t Au.
• Sambalay Corridor Target: Drilling underneath hole 21CUR-016, which intercepted 1.5 meters of 1,129 g/t Ag and 1.04 g/t Au.
• Additional Activities: Parallel channel sampling across Cambaya 1 and Cambaya 2 corridors to define structural geometry and mineralization potential.
• Future Plans: Further drilling may be considered subject to results and financing.
• Qualified Person: Christian Rios (Senior Vice-President of Exploration, PGeo).

Notable Quotes

• Peter Dembicki (President, CEO, and Director): "We are very excited to resume drilling at Curibaya with this phase 2 program. This campaign marks our first opportunity to drill beneath some of the highest-grade silver mineralization we have uncovered to date through surface channel sampling."
• Peter Dembicki: "The Cambaya area represents a compelling, undrilled part of the system... This program has the potential to significantly advance our understanding of the scale of the system and represents a potential preserved source of the multikilogram silver samples we have collected from veins in a 20-square-kilometre area."