Zacatecas Silver Finalizes Land Access Agreements for Upcoming Drill Program

On November 13, 2025, Zacatecas Silver announced it has finalized all necessary land-access agreements for its upcoming drill program at the El Cristo Target. This secures full surface rights and allows flexibility for establishing drill pads across the entire El Cristo vein system. CEO Eric Vanderleeuw stated that with surface agreements complete for both key targets (El Cristo and Panuco), permitting is now underway. He also reiterated that the company is fully financed for this next drill phase.

The news is a routine but positive operational update. It represents the successful execution of a necessary step before drilling can commence. Following the community access agreement for the Panuco target announced on November 10, this finalizes all surface access requirements for the planned 4,000-metre drill program.

This is not game-changing news, as securing land access is an expected milestone for any exploration company after a financing. However, it is incrementally positive as it de-risks the operational timeline and demonstrates that the new management team, installed in January 2025, is methodically advancing the project as promised. After recapitalizing the company, which was nearly out of cash at the end of 2024, management has consistently communicated a clear plan: finance, secure access, permit, and drill. This news confirms progress on that plan.

The market impact should be neutral to slightly positive. The share price has already appreciated significantly since the financing was announced, likely pricing in the expectation of these pre-drilling milestones being met. The key takeaway is that the last major hurdle before drilling is now the permitting process. The statement that the company is "fully financed, heading into the next drill phase" provides confidence that the program is imminent upon receipt of permits.

Zacatecas Silver Corp. is a Canadian-based junior exploration company focused on silver projects in Mexico. Its flagship asset is the Zacatecas Silver Project, located in the historically prolific Fresnillo Silver Belt in Zacatecas State, Mexico. The project consists of two primary target areas: 1. Panuco Deposit: This area has an existing NI 43-101 inferred mineral resource estimate (May 30, 2023) of 20.5 million ounces of silver equivalent (AgEq) at a grade of 187 g/t AgEq. The company aims to expand this resource. 2. El Cristo Vein System: A large, underexplored system considered the northwestern extension of the Veta Grande vein, which historically produced over 200 million ounces of silver.

The company also holds the advanced-stage Esperanza Gold Project, which is currently on care and maintenance due to permitting challenges in Mexico. The new management's strategy is to focus capital and exploration efforts on the Zacatecas Silver Project.