Metalsource Mining Continues to Define High Grade Polymetallic Core at Silver Hill with 33 Metre down Plunge Step Out

Metalsource Mining reported another round of assay results from the Silver Hill project in North Carolina, this time for drill hole SH26-19. The hole was a 33-metre down-plunge step-out from the emerging high-grade corridor, intersecting 6.28 metres grading 1,156 g/t silver equivalent (AgEq), including a higher-grade sub-interval of 3.6 metres at 1,789 g/t AgEq. The intersection contains elevated gold and silver values coincident with high-grade massive sphalerite, with composite grades reaching up to 35% combined lead-zinc and up to 16.5 g/t gold. Core was lost over a 3.05-metre interval interpreted as previously mined material, with high-grade mineralization present immediately above and below. The company notes the system remains open along strike, down plunge, and at depth, with multiple assays pending from nine additional holes, and step-out drilling to the south is in progress. Management states it is evaluating options to increase drilling capacity and potentially expand the land position.

This is an incremental, positive step-out result that confirms geological continuity. The grades (1,156 g/t AgEq over 6.28m, including 1,789 g/t AgEq) are strong but not materially different from the high-grade hits reported just weeks earlier, such as SH26-11 (434 g/t AgEq over 10.64m on June 10) and SH26-18 (245 g/t AgEq over 11.83m including 1,580 g/t over 0.64m on June 24). The market has been numbed by a steady stream of high-grade intercepts since March 2026, with little sustained price reaction to recent releases; the stock fell from $1.27 to $1.14 after the June 24 results, and trades near those levels heading into this news. No new discovery or step-change in scale was announced—the 33-metre down-plunge extension is logical but modest relative to the 550-metre depth extent already known. The news does not alter the investment thesis or materially de-risk the project’s eventual resource definition. It would be unlikely to trigger a significant re-rating.

Metalsource Mining is a junior exploration company focused on polymetallic deposits in North Carolina, USA (Silver Hill and Byrd-Pilot projects) and an early-stage manganese project in Botswana (Aruba). The Silver Hill project, recognized as America’s first silver mine, contains high-grade silver-gold-lead-zinc mineralization extending to at least 550 metres depth and remains open in multiple directions. The company also holds the Byrd-Pilot property, which hosts a potential porphyry gold-copper system that has not been drilled since the 1980s. It is an exploration-stage entity with no revenue; its value depends entirely on discovery and resource delineation.