Silverco Mining Provides La Negra Mine Operations Update

Silverco Mining Ltd. (SICO) issued a post-acquisition operational update on its 100%-owned La Negra Mine in Querétaro, Mexico, following the May 19, 2026 acquisition of Nuevo Silver. Management has appointed a General Manager and ordered underground mobile equipment from Epiroc, including one development jumbo, one long hole production drill, and four scoops. Deliveries are expected between Q4 2026 and Q1 2027.

The company has also ordered a thickener and filter presses to transition La Negra to filtered dry-stack tailings. Equipment delivery is expected early Q1 2027, with installation and commissioning targeted for the end of Q1 2027. Management states that filtered tailings should remove the throughput constraint, allowing the mill to operate at 2,500 tonnes per day nameplate capacity in H1 2027.

Silverco has implemented campaign milling, where the mill runs near full capacity for defined campaigns and is idled between campaigns for maintenance, with ore stockpiled on surface. A revised grade-control program has been introduced to improve short-term grade prediction, reduce dilution and ore loss, and improve mine-to-mill reconciliation.

SGS Geological Services is completing an updated mineral resource estimate and an initial PEA for La Negra, with results expected late Q3 2026. Knight Piésold has been engaged as Engineer of Record for the La Negra tailings storage facility. A 15,000-metre exploration program began in mid-July; about 1,000 metres have been completed, with first assays expected late Q3 2026.

The release repeats the goal of restarting Cusi in H2 2026 and the longer-term target of becoming a 10 million ounce per year silver-equivalent producer within three years. This is not an earnings release; no new production, revenue, cost, or drill-assay figures are provided.

Silverco Mining Ltd. (SICO) released a progress report on its La Negra workstreams, confirming the execution of its post-acquisition debottlenecking plan. The update included specific details regarding Epiroc equipment orders, thickener and filter press orders, an SGS Mineral Sciences MRE and PEA, and engagement with Knight Piésold. However, much of this information was previously signaled in prior releases, which already outlined the 15,000-metre La Negra drill program, target resource and mine-plan work scheduled for H2 2026, increased throughput, equipment investment, and a tailings and filtration debottlenecking strategy.

The key new operational detail is the adoption of campaign milling. Management frames this as an efficiency improvement, but it also confirms the mill is not running continuously at nameplate capacity and that throughput remains constrained until the filtered tailings project is completed. The nameplate capacity target is now set for H1 2027, a timeline that appears at least as cautious as, and possibly later than, language from a previous investor presentation suggesting increased throughput and commercial production by the end of Q1 2027.

Only about 1,000 metres of the 15,000-metre La Negra program has been completed, meaning the release contains no new drill results. No updated resource, PEA, production rate, grade, recovery, unit cost, or financial result is included.

Silverco Mining Ltd., a Canadian silver company listed on the TSXV under SICO and on OTCQB under SICOF, is developing a Mexican silver portfolio centered on two primary assets. The company acquired the La Negra Mine in Querétaro through Nuevo Silver on May 19, 2026. This underground silver-lead-zinc-copper operation features a 2,500 tonne per day mill that was operating at approximately 55% capacity at the time of acquisition. Silverco is currently debottlenecking the facility through the introduction of new mobile equipment, filtered tailings, and improved grade control.

The second key asset is the Cusi Silver Complex in Chihuahua, a past-producing silver-gold-lead-zinc project with a 1,200 tonne per day mill. A restart is underway at Cusi, with the company targeting first concentrate production for the fourth quarter of 2026. Silverco’s stated goal is to reach 10 million ounces of silver-equivalent production per year within three years. While no La Negra mineral resource or reserve estimate was provided in the available materials, the company has provided a preliminary economic assessment and resource estimate for Cusi.