Silverco Provides Update on Nuevo Silver

Executive Summary

• Silverco Mining confirms that Nuevo Silver has completed its purchase of the La Negra Mine in Querétaro, Mexico.
• The acquisition of Nuevo Silver (and thereby the La Negra Mine) remains under negotiation for a definitive agreement, pending due‑diligence, board approval and TSX Venture Exchange conditional approval.
• Completion of the La Negra Mine purchase moves Silverco closer to adding a producing silver asset to its portfolio alongside its 100% owned Cusi Project.

Key Details

• Transaction Status: Nuevo Silver has advised that its purchase of the La Negra Mine is now complete.
• Proposed Acquisition: Silverco continues to pursue an acquisition of Nuevo Silver, which entered into a Share Purchase Agreement (SPA) on January 18, 2026.
• Target Asset: 100% ownership of the La Negra Mine – a producing silver mine located in Querétaro, Mexico.
• Next Steps for Silverco:
• Negotiate and execute a definitive acquisition agreement with Nuevo Silver.
• Complete remaining due‑diligence and assess benefits of the transaction.
• Obtain approval from Silverco’s board of directors.
• Secure conditional approval from the TSX Venture Exchange.
• Corporate Background (retained for context): Silverco owns a 100% interest in the 11,665‑hectare Cusi Project in Chihuahua State, Mexico, featuring an existing 1,200 t/d mill and multiple historic Ag‑Au‑Pb‑Zn mineralized zones.

Notable Quotes

• “On Behalf of the Board of Directors” – Mark Ayranto, President & CEO (no direct quote provided).