Magma Silver begins target-defining work at Ninobamba

Executive Summary

• Magma Silver has launched its Q3 work program at the Ninobamba silver‑gold project in Peru to define drill targets for a planned Q4 drilling campaign.
• The pre‑drilling work, focused on the Jorimina and Randypata areas, will be completed by end‑Q3 2025 with rock‑sample results expected in the same period.
• Drilling at Jorimina is slated to begin in Q4 2025, with assay results anticipated before year‑end; the company is also reviewing potential acquisition opportunities to expand its silver and gold portfolio.

Key Details

• Work Program Scope: Evaluation and definition of drill targets for the fourth‑quarter program; optimization of drilling directions and identification of new drill sites.
• Geographic Focus: Advanced Ninobamba project, Peru – specifically the Jorimina and Randypata target areas.
• Leadership: Program led by senior geologist Edgar Leon; supervised by Jeffrey Reeder, P.Geo., senior technical adviser.
• Timeline:
• Pre‑drilling work to be finished by end of Q3 2025.
• Rock‑sample results expected within Q3 2025.
• Drilling at Jorimina to commence in Q4 2025, with assay results due before the end of 2025.
• Strategic Intent: Results will refine drill targets for Q4 and broaden technical understanding of mineralized zones’ style and extent.
• Acquisition Review: Company is actively reviewing potential acquisitions to increase exposure to additional silver and gold assets.
• Qualified Person Statement: Jeffrey Reeder, P.Geo., qualified under NI 43‑101, prepared and supervised the scientific and technical disclosure.

Notable Quotes

“We are excited to advise that our exploration team is now on site at the advanced Ninobamba silver‑gold project… The work being carried out will assist in refining drill targets for our planned Q4 drill program and expand our overall technical knowledge of the style and extent of the mineralized zones.” – Stephen Barley, Chairman & CEO.