Highlander drills 23.9 m of 20.82 g/t Au at San Luis

The most recent news, dated December 1, 2025, announces record high-grade drill results and a new discovery at the San Luis gold-silver project in Peru. Key intercepts from the Bonita Vein System include: - BOD-023: 23.9 meters grading 20.82 g/t gold and 31.53 g/t silver in the Kusy zone. This represents one of the broadest and highest-grade intervals reported to date from the project. - BOD-022: 23.4 meters grading 11.70 g/t gold and 26.10 g/t silver, also in the Kusy zone. - BOD-025: 27.0 meters grading 5.28 g/t gold from near surface, marking the discovery of a new zone named "Urpicha," located over 200 meters northwest of prior drilling.

The company stated that the Bonita vein system remains open along strike. Highlander is now integrating these Phase 1 results with geophysical survey data to design an optimal Phase 2 drilling campaign.

The December 1 news is highly material and represents a significant step-change for the company, justifying a "Game Changer" rating. The analysis of historical news shows a clear and positive progression of results and corporate development throughout 2025.

• Corporate Foundation (Jan - Jun 2025): The year began with the appointment of a new, highly experienced management team, many from the successful Solaris Resources. This was followed by a C$32.2M financing at $1.40/share in March and an uplisting to the TSX in May. Drilling commenced in June, setting the stage for a news-driven year.

• Drilling Success (Jul - Oct 2025): The company has consistently delivered impressive drill results, with each subsequent release improving upon the last.

  • July 29: Initial results showed broad, near-surface mineralization (e.g., 47.8m of 1.87 g/t Au and 23.1m of 4.92 g/t Au).
  • September 16: Step-out drilling extended mineralization and returned higher grades (e.g., 24.8m of 7.43 g/t Au).
  • October 6: A new discovery, the "Kusy" zone, returned the highest grades to date (23.6m of 15.56 g/t Au).

• Strategic Financing (Sep - Oct 2025): Leveraging the strong drill results and a rising share price, the company executed a brilliantly timed and substantial financing. It was announced at C$75M, upsized to C$86.25M, and with the over-allotment option exercised, raised gross proceeds of approximately C$95M at a price of $3.75 per share. The November 12 financial statements confirm this, showing a cash balance of over C$102M as of September 30, 2025.

• Latest Results (Dec 1, 2025): The most recent drill results are a clear escalation. The 20.82 g/t gold intercept in BOD-023 is a ~34% improvement in grade over the previous record hole from October 6, over a similar width. This confirms the bonanza-grade nature of the Kusy zone. Furthermore, the discovery of the new Urpicha zone (27.0m of 5.28 g/t Au) 200m away suggests the mineralized system is larger and has more potential than previously understood.

The news dramatically de-risks the exploration thesis and confirms the presence of a potentially world-class, high-grade gold system. It exceeds prior expectations and should have a significant positive impact on the company's valuation.

Highlander Silver Corp. is a Canadian precious metals exploration company. Its flagship asset is the San Luis gold-silver project located in central Peru, adjacent to Barrick's past-producing Pierina mine. The project contains a historical high-grade indicated resource (356,000 oz Au @ 24.4 g/t and 8.4 Moz Ag @ 579 g/t). The company's current focus is a maiden drill program on the Bonita vein system, a target approximately 10km south of the main resource area, which is demonstrating potential for a large, near-surface, high-grade, open-pittable deposit.