Silver Viper Receives Additional Infill Drilling Results from the Program at The El Rubi Zone, La Virginia Project in Sonora, Mexico

Silver Viper Minerals Corp. (VIPR) released results on July 23, 2026, detailing nine additional infill drill holes (LV26-349 to LV26-357) at the El Rubi Zone of the La Virginia project in Sonora, Mexico. The program totaled 3,239.1 metres, with drilling spacing tightened to 20–25 metres to upgrade resource classification.

Headline intercepts included: - LV26-356: 15.8 m @ 2.20 g/t Au and 355.2 g/t Ag (6.91 g/t AuEq) - LV26-357: 11.0 m @ 2.70 g/t Au and 177.6 g/t Ag (4.97 g/t AuEq) - LV26-355: 5.85 m @ 1.83 g/t Au and 92.3 g/t Ag (2.99 g/t AuEq)

Three holes returned no significant values. The company states the results support previously defined high-grade zones and reclassification to higher confidence categories.

Silver Viper Minerals Corp. (VIPR) is a junior explorer with no revenue, where primary value drivers include resource growth, discovery, and market sentiment. The company’s recent infill drilling is part of an ongoing program to upgrade Inferred ounces to Indicated ahead of a resource update due in H1 2026. The results confirm high-grade continuity but add no new tonnage or expansion. While the March 2026 bonanza-grade hole already established the high-grade nature of El Rubi, today’s holes are solid but incremental.

The stock has collapsed from C$2.49 in January 2026 to C$0.33–0.39, representing a drawdown of more than 85%. Previous high-grade drill results from March 2026 (LV26-345) barely moved the price from approximately C$1.00 to C$1.05, after which the stock continued to fall. The market appears to have already priced in high-grade potential, with subsequent declines attributed to broader sector weakness, financing overhang, or disappointment that high-grade hits have not translated into a significantly larger resource. Today’s infill results are even lower grade and non-expansionary.

The Coneto acquisition added ounces but also dilution, with the share count ballooning from 66 million to 118 million. Financing risk remains acute; the company burned through its $17 million raise from late 2025 and will likely need further equity, especially with cash at Q3 2025 standing at $3.2 million before any 2026 spending. The infill news does not de-risk the funding gap.

Silver Viper Minerals Corp. (VIPR) is a Canadian junior explorer focused on precious metals in Mexico. Its primary asset is the 100%-owned La Virginia Au-Ag project, which held 154,000 ounces of indicated gold and 6.9 million ounces of silver, along with 260,000 ounces of inferred gold and 12.9 million ounces of silver as of 2021. In May 2026, the company closed the acquisition of the Coneto project from Fresnillo and Orex, adding 286,000 ounces of inferred gold and 19.1 million ounces of inferred silver based on 2021 data. Silver Viper also holds the Cimarron Au-Cu project, which contains historical resources of 77,000 ounces of gold.

Following the acquisition, the company had 118 million shares outstanding and a market capitalization of approximately C$46 million. Management is experienced, with notable shareholders including Eric Sprott. The company is pre-revenue and entirely reliant on equity markets for funding.