Prince Silver to Expand and Accelerate Drilling Program at the Prince Silver Mine

Executive Summary

• Prince Silver is expanding its RC drilling program from ~21,000 ft to >30,000 ft and adding a second drill rig to accelerate work.
• All ten RC holes completed to date have encountered favourable alteration, supporting the decision to increase and speed up drilling.
• The company’s AGM approved a new five‑member board, re‑appointed its auditor, and adopted a 20 % rolling omnibus equity incentive plan.

Key Details

• Drilling Program Expansion: Planned total depth increased from ~21,000 ft (6,400 m) to >30,000 ft (9,100 m). A second RC drill rig will be on‑site next month.
• Current Focus: Near‑surface (<300 m) carbonate replacement mineralization (silver‑gold‑manganese and base metals) and sediment‑hosted gold‑silver zones along a 3,500‑ft (1,070 m) structural corridor, 600–1,200 ft wide.
• Assay Timeline: First batch of assays for the ten completed holes expected in January 2026; results will inform an initial NI 43‑101‑compliant mineral resource estimate.
• Alteration Results: All ten RC holes showed favourable alteration, reinforcing confidence in the project’s potential for open‑pit mining.
• Exploration Target (Historical): 129 historic drill holes indicate a target of 25–43 Mt with grades of 1.44–1.57 % Zn, 0.78–0.87 % Pb, 0.28–0.40 g/t Au, 37–40 g/t Ag, and 3.62–4.30 % Mn (based on JORC‑compliant report dated 24 Apr 2024).
• AGM Outcomes (23 Dec 2025):
• Board size set at five directors; elected Derek Iwanaka, Ralph Shearing, Marco Montecinos, Darrell Rader, Robert Wrixon.
• Re‑appointment of Davidson & Company LLP as auditor for the next fiscal year.
• Adoption of a 20 % rolling omnibus equity incentive plan.
• Technical Review: Ralph Shearing, P.Geo., Qualified Person (NI 43‑101), reviewed and approved the technical disclosure.

Notable Quotes

“The alteration encountered in the drill holes reinforces our confidence in the Prince Silver Mine Project and supports our decision to expand and accelerate drilling,” – Derek Iwanaka, CEO, Prince Silver Corp.