First Andes Silver Provides Drill Targeting Update for Santas Gloria Project, Peru

First Andes Silver Ltd. (FAS) announced a planned 3,000-meter diamond drilling program at its 100%-owned Santas Gloria Project in Peru. The campaign utilizes a specialized compact, track-mounted underground-style diamond drill adapted for surface operations, allowing testing of previously inaccessible down-dip and strike extensions. The program targets four intermediate-sulphidation epithermal vein systems: Tembladera, San Jorge, Maribel, and Paquita.

Targeting integrates historical underground channel samples, previous drill intercepts, updated structural interpretations, and new soil geochemistry anomalies defined in early 2026. Permitting for additional drill platforms and environmental approvals is currently advancing. The Qualified Person is Dr. Christopher Wilson, Chief Geologist.

First Andes Silver Ltd. (FAS) has announced a logical progression in its 2025-2026 systematic exploration program. This latest initiative follows directly from Phase 1 and Phase 2 soil sampling results conducted between March and May 2026, as well as the identification of a multi-kilometer zoned alteration cell in January 2026.

Capital for this specific campaign was secured through an oversubscribed $2 million private placement that closed in February 2026. The announcement aligns with previously communicated management promises and timelines, representing incremental news that does not contain new high-grade intercepts or unexpected financial developments. While the use of a specialized rig to access deeper or structurally complex zones is a positive operational detail, it does not alter the fundamental risk profile or valuation.

First Andes Silver Ltd. (FAS) is an exploration-stage company focused on silver, gold, and base metals. Its flagship asset is the Santas Gloria Project in Peru, located 55 km east of Lima. The project hosts 23 mapped intermediate-sulphidation epithermal veins totaling over 12 km of strike length. The project has never been systematically explored using modern techniques until 2020. Recent drilling (2024-2025) returned high-grade silver intercepts across multiple veins, with some intervals exceeding 750 g/t AgEq.

The company also holds three exploration licenses in New South Wales, Australia (Carrington, Stony Creek, Dartmoor) covering 454 km², acquired in early 2026. These projects feature historic high-grade silver and gold production and will undergo early-stage target generation.