Tier One lines up Curibaya drilling restart in 2026

Executive Summary

• Tier One Silver Inc. released a 2025 year-end recap and outlined its strategic outlook for 2026, highlighting a strengthened financial position and upcoming exploration catalysts.
• The company plans to recommence drilling at its flagship Curibaya project in southern Peru in Q1 2026, targeting high-grade silver, gold, and base metal corridors, specifically the Cambaya structural target.
• The company secured significant capital in 2025, including a $6.5 million oversubscribed equity financing in Q3, to fund exploration and community engagement, while extending community agreements to ensure uninterrupted access to the Curibaya project.

Key Details

• Financing Activity:
  • Closed a small private placement in January 2025, with insiders accounting for approximately 38.5% of the placement.
  • Closed an oversubscribed equity financing in Q3 2025 totaling $6.5 million, enhancing the treasury to finance exploration at Curibaya and investigate additional project opportunities.
• Operational Plans (2026):
  • Drilling at Curibaya is scheduled to commence in Q1 2026.
  • Drilling targets include priority high-grade silver, gold, and base metal corridors, with a specific focus on the Cambaya structural target.
  • A channel and rock sampling campaign will be conducted to explore untested corridors of interest in the Cambaya area.
• Community and Regulatory:
  • Extended community agreement with the local Chipispaya community in southern Peru.
  • The agreement is in effect into mid-2026 with an option for further renewal, ensuring uninterrupted access for exploration activities.
• Market Context:
  • Silver prices reached record nominal highs in late 2025, driven by a global supply deficit, constrained mine development, and accelerating industrial demand (electrification, renewable energy, AI).
  • Peru remains a top-three global silver producer (100-120 million ounces annually) with high-grade deposits in the Andean metallogenic belt.
• Management Commentary:
  • CEO Peter Dembicki described 2025 as a "foundational year" that strengthened the financial position and set the stage for exploration.
  • The company aims to drive news flow and exploration catalysts throughout 2026, including drill results and target generation.

Notable Quotes

• "Two thousand twenty-five was a foundational year for Tier One Silver -- we strengthened our financial position, deepened community partnerships and set the stage for further exploration at our flagship, Curibaya project. With positive momentum in the silver market, with prices recently hitting all-time highs and a clear road map for drilling in early 2026, we are energized by the opportunity ahead." — Peter Dembicki, President and CEO