Including Intersecting: 3.05 Metres at 1,331.00 g/t Ag, 0.16 g/t Au,14.17% Mn, 2.19% Pb, and 4.45% Zn

VANCOUVER, BC / ACCESS Newswire / January 13, 2026 / Prince Silver Corp. (CSE:PRNC,OTC:PRNCF)(OTCQB:PRNCF)(Frankfurt:T130) (‘Prince Silver’ or the ‘Company’), is pleased to announce assay results from the first five holes from its ongoing 9,000-metre reverse circulation (‘RC’) drill program at the Prince Silver Project in Lincoln County, Nevada, USA. (See Figure 1: Project Location Map below).

Derek Iwanaka, CEO and Director states, ‘Our first five RC drill holes have encountered multiple thick, well mineralized intersections from reasonably shallow depths, returning excellent silver, gold, and manganese assay results as outlined below. These initial results indicate the strong likelihood that our planned 30-hole drill program will be successful in verifying the range of tonnes and grades outlined in the Exploration Target* (Refer to Exploration Target section below).’

RC Drill Hole Assay Highlights

PRC-26:

• 35 feet (10.7 metres) at 59.7 g/t Silver (Ag), 0.12 g/t Gold (Au), 10.97% Manganese (Mn), 1.04% Lead (Pb), and 2.07% Zinc (Zn).

PRC-27

• 30 feet (9.15 metres) at 139.92 g/t Ag, 0.68 g/t Au,8.57% Mn, 1.48% Pb, and 1.06% Zn; and

• 10 feet (3.05 metres) at 355.25 g/t Ag, 4.78 g/t Au, 2.69% Pb, and 4.72% Zn.

PRC-28

• 10 feet (3.05 metres) at 1,331.00 g/t Ag, 0.16 g/t Au,14.17% Mn, 2.19% Pb, and 4.45% Zn; and

• 5 feet (1.25 metres) at 101.00 g/t Ag, 23.9 g/t Au, and 1.00% Zn.

PRC-29

• 50 feet (15.24 metres) at 67.25 g/t Ag, 1.17 g/t Au, 2.46% Mn, 1.79% Pb and 0.84% Zn;

  • including 10 feet (3.05 metres) at 120.00 g/t Ag, 3.62 g/t Au, 1.55% Mn, and 2.42% Pb.

PRC-30

• 25 feet (7.62 metres) at 166.70 g/t Ag, 0.31 g/t Au,8.70% Mn, and 1.14% Zn;

  • including 15 feet (4.57 metres) at 248.17 g/t Ag, 0.52 g/t Au, 13.24% Mn, 0.96 % Pb and 1.55% Zn; and

• 35 feet (10.67 metres) at 36.79 g/t Ag, 5.67 g/t Au, and 1.44% Zn;

  • including 25 feet (7.62 metres) at 51.50 g/t Ag, 7.73 g/t Au, and 1.99% Zn.

* All drill holes reported in the press release were drilled at 90 degrees through gently dipping 10 to 20 degrees mineralized beds and the above reported intersections are not true width. True widths are estimated to be between 94% to 98.5% of intersected width (for dips of 20 and 10 degrees respectively).

The initial five drill holes are the first assay results received by the Company for its 2025 – 2026 exploration program planning up to 30 RC drill holes. Select results are highlighted above and significant mineral intercepts are presented in more detail in Table 1 below and the drill hole locations are presented in Figure 1 below.

To date, the company has completed 11 RC drill holes with the 12th drill hole initiated on January 9,2026. Samples from mineralized intercepts in drill holes PRC-31 to PRC-36 were delivered to the laboratory in mid-December and their assay results expected in early February 2026.

Figure 1: Drill Hole Locations

Historic and current drilling has encountered multiple gently dipping mineralized beds within a carbonate replacement deposit (‘CRD’) environment hosted by the Combined Minerals Bed and Pioche Shale rock formations. All mineralization encountered in the past and current drilling, is at depths shallower than 300 metres (1000 feet) and therefore, is potentially amenable to open pit mining, subject to further technical and economic evaluation.

Assay results from the first five drill holes, completed in late 2025, as outlined in the highlights above and Table 1 below, demonstrate strong mineralization with three strategic metals, silver, gold and manganese, along with associated base metals. The Company is highly encouraged by the continuity, thickness, and strength of sliver, gold and manganese mineralization encountered in these initial drill holes.

The Company has secured a second drill rig, which is expected to arrive on site mid-January, enabling increased drilling efficiency and an accelerated pace of exploration. The recently expanded drill program is designed to increase and upgrade historical mineralization and support an initial mineral resource estimate. The program is focused on near-surface mineralization and builds upon a substantial historical drill hole database.

Figure 2: Prince Project Location Map:

*Exploration Target

Historical drilling at the Prince Project identified an exploration target (the ‘Exploration Target‘) as outlined in an independent historic report prepared following JORC guidelines (JORC standards for the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) by OmniGeoX Exploration Consultants of Perth, Australia, based on historical surface and underground drilling. The report is titled ‘Prince Project Exploration Target’, dated April 24, 2024, authored by Dr. Lachlan Rutherford and Michael Martin (OmniGeoX Exploration Consultants, 2024, Prince Project Exploration Target, Independent Report prepared for Prince Silver Corp.).

The Exploration Target was based on 129 historic drill holes drilled through mineralized carbonate replacement beds and host Pioche Shale up to 300 metres in depth. Mineralized polymetallic intersections based on historical block modelling suggest the immediate Exploration Target is between 25-43Mt with grades ranging from 1.44-1.57% Zn, 0.78-0.87% Pb, 0.28-0.40g/t Au, 37-40g/t Ag and 3.62-4.30% Mn.

More comprehensive details on the Exploration Target and historic production are also available in the Company’s press release dated February 27, 2025, available on the Company’s web site and at SEDAR+.

* Readers are cautioned that the Exploration Target is not an ‘inferred’, ‘indicated’ or ‘measured’ mineral resource compliant with National Instrument 43-101 (‘NI 43-101’). The Exploration Target has been determined based upon 129 historic drill holes totaling 16,606 metres, historic production records including mine level plans and 3D modelling of mineralization and geology. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to define a mineral resource and, it is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource.

Table 1: Significant Assays Results for Drill Holes PRC 26 – 30

Continued on next page

Continued on next page

Hole intervals marked with ‘avg’ are the average grades of either one or two duplicated of the sample interval.

Quality Assurance / Quality Control

The company is following a robust Quality Assurance / Quality Control (QA/QC) program designed to meet or exceed CIM and AUSIMM standards. Duplicate samples are extensively used to provide verification both at the primary analytical laboratory and at a second independent laboratory as the program progresses. In addition, a certified field standard is inserted for each drill hole set, and sample blanks are randomly included, with no more than one per hole.

All samples are shipped to the laboratory under secure, standard chain-of-custody procedures. Samples are analyzed using 43-element MS-ICP with aqua regia digestion. Samples exceeding limits for Mn, Zn, or Pb are further tested using wet chemical assays. Most samples are also fire assayed for gold and silver using a one-assay-ton gravimetric method, and an average of four samples per hole will have specific gravity measurements conducted at the laboratory.

The principal analytical laboratory for the program is Skyline Assayers & Laboratories Inc., located in Tucson, Arizona, an ISO-accredited facility.

Qualified Person

Ralph Shearing, P.Geo. (Alberta), a Qualified Person under NI 43-101 and Director and President of the Company, has reviewed and approved the technical disclosure in this news release.

About Prince Silver Corp.

Prince Silver Corp. is a silver exploration company advancing its flagship Prince Silver Project in Nevada, USA, featuring a near-surface, historically drilled deposit that remains open in all directions. The Company also holds an interest in the Stampede Gap Project, a district-scale copper-gold-molybdenum porphyry system located 15 km north-northwest of the Prince Silver Project, highlighting Prince Silver’s focus on high-potential, strategically located exploration assets.

On Behalf of the Board of Directors

Derek Iwanaka, CEO & Director
Tel: 236-335-9383
Email: info@princesilvercorp.com
Website: www.princesilvercorp.com

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as ‘may’, ‘expect’, ‘estimate’, ‘anticipate’, ‘intend’, ‘believe’ and ‘continue’ or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: completion of the Acquisition and related transactions, proposed drill programs, amendments to the Company’s website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE: Prince Silver Corp.

View the original press release on ACCESS Newswire

Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) is pleased to provide an exploration update from its 24,000-hectare (‘Ha’) Fauro property (‘Fauro’), located in the Shortland Islands, Western Province, Solomon Islands.

Recent prospecting and geological mapping at the Meriguna Target within the Fauro Property were undertaken to validate historical sampling results and further refine target generation. Historical exploration at Meriguna includes drill intercepts of up to 35 metres grading 2.08 grams per tonne (g/t) Au, trench results of 8 metres at 27.95 g/t Au, and rock samples returning values of up to 173 g/t Au. In addition, limited alluvial mining is currently being conducted by local landowners, providing further evidence of significant near-surface gold mineralization.

CEO John Florek commented:

‘Sankamap is actively advancing two significant mineralized systems within its 100%-owned Oceania Project. Both the Kuma and Fauro projects demonstrate strong potential for significant gold and copper mineralization.

‘At the Fauro Property, multiple mineralized targets are situated along the rim of an ancient volcanic caldera, where sampling has returned exceptional gold and copper results. Recent work at the Kiovakase Target has yielded high-grade gold values of up to 19.25 g/t Au, together with standout copper values reaching 4.09% Cu (see press release dated July 16, 2025).

‘Recent sampling at the Meriguna Target, located approximately 2.5 km north of Kiovakase, has also identified strong mineralization comparable to that observed at Meriguna, further highlighting the scale and continuity of the mineralized system.’

Highlights

• Visible gold identified throughout the property in surface alluvial workings from local artisanal miners at the Meriguna Prospect.
• Rock samples collected at Meriguna display similar alteration observed at our Kiovakase Target located 2.5 km to the south.
• Recent sampling at the Kiovakase Target returned values of up to 19.25 g/t Au and 4.09% Cu, representing the highest copper grades reported to date on the Fauro Property and supporting potential for a porphyry system at depth.
• The ongoing exploration program at the Fauro Property is focused on expanding and refining historical mineralized zones to generate high-priority drill targets for 2026.

Figure 1: Fauro tenement boundaries with magnetic overlay and target historical highlights.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11623/280171_332025cb14ca4b6b_002full.jpg

Discussion

The Fauro Property is strategically situated along a regional copper-gold (Cu-Au) trend known for hosting major deposits, including Panguna and Lihir (see press release dated May 7, 2025). Fauro shares key tectonic and geological features with both Panguna and Lihir and is situated in a largely underexplored region.

Lihir containing 71 Moz Au¹ (310 Mt containing 23 Moz Au at 2.3 g/t Proven+Probable (‘P&P’), 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred) and Panguna containing 19.3 Moz Au + 5.3 Mt Cu² (1.5 Mt containing 16.1 Moz Au at 0.33 g/t and 4.6 Mt Cu at 0.3 % Indicated, 300 Mt containing 3.2 Moz Au 0.4 g/t and 0.7 Mt Cu Inferred).

The initial phase of the exploration program at Fauro was strategically designed to validate historical surficial assay results, engage with local communities, and evaluate terrain and logistical conditions in preparation for a forthcoming drill campaign. As part of this effort, fifteen preliminary grab samples were collected from the Meriguna Target, one of three historically explored zones on the property (see Figure 1).

The Meriguna Target is underpinned by historically elevated trench, drill, and grab sample grades (see Figure 2). The area is also subject to active local alluvial mining, where gold is visually observable at surface through panning and sluicing, providing additional confirmation of significant near-surface mineralization.

Figure 2: Fauro Property-Meriguna target illustrating historical highlights with new sample locations from November 2025 sampling (annotated in yellow).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11623/280171_332025cb14ca4b6b_003full.jpg

Figure 3: Selected rock samples from Meriguna target, Fauro.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11623/280171_332025cb14ca4b6b_004full.jpg

Quality Assurance and Control Procedures

Sample preparation and analysis was completed at the Brisbane, Australia ALS Global Facility accredited by the National Association of Testing Authorities (NATA) and compliant with international standards ISO/IEC 17025. Samples were analyzed using Four acid digestion methods on 34 elements: HF-HNO3-HCIO4 acid digestion, HCL leach and ACP-AES. Gold was analyzed using the Fire Assay technique with a 50g sample under the ALS code Au-AA26. A secure chain of custody procedure was maintained in storing and transporting samples. Sankamap uses industry standards for collecting samples taken on the Fauro property, internal quality assurance and quality control (QAQC) procedures were followed by ALS.

Next Steps at the Fauro Property – 2026 Exploration

Historical drilling, surface sampling, and geophysical work at the Fauro Property have identified multiple near-surface epithermal gold systems with potential for an underlying porphyry system. Recent rock sampling at the Meriguna target is intended to confirm significant surface gold mineralization.

A phased exploration program is planned for 2026, beginning with continuation of systematic sampling to validate historical surface results. These data will guide follow-up geophysical surveys, if warranted, targeting signatures characteristic of porphyry and epithermal systems.

Results will be integrated with existing datasets to design a focused drill program aimed at confirming historical intersections and testing extensions of mineralization that remain open at depth and along strike.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newmont’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au³; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au⁴. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au⁴, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au⁴, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Bougainville Copper Ltd. Annual Report, 2016 (1.5 Mt containing 16.1 Moz Au at 0.33 g/t and 4.6 Mt Cu at 0.3 % Indicated, 300 Mt containing 3.2 Moz Au 0.4 g/t and 0.7 Mt Cu Inferred)

3. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

4. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Forward-Looking Statements Certain statements in this release constitute ‘forward-looking statements’ or ‘forward-looking information’ within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company’s exploration plans and results at its projects. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘expect’, ‘believe’, ‘plan’, ‘anticipate’, ‘estimate’, ‘scheduled’, ‘forecast’, ‘predict’ and other similar terminology, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280171

Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the ‘Company’ or ‘Brixton’) is pleased to announce the launch of drilling activities at its wholly owned Langis Silver Project, located in the historic, silver rich Cobalt Camp of Ontario, approximately 500km north of Toronto (Figure 1). The site benefits from excellent infrastructure, including all-season road access, power, rail connections, and a refiner.

Highlights

• The fully funded 2026 phase one drill campaign will comprise of approximately 15,000 meters of shallow near-surface drilling, targeting both the expansion and infill of established high-grade silver zones, as well as exploring new areas of mineralization along structural trends.
• Silver mineralization at Langis occurs as native silver in veins, veinlets, disseminated, rosettes and fracture infill, often associated with minerals such as calcite, hematite, pyrite, cobaltite, chalcopyrite, niccolite and gold.
• Rock grab samples from the Shaft 7 dump returned up to 182,065 g/t silver.
• Previous drilling by Brixton has yielded 15 intercepts greater than 1000 g/t Ag, including 3 intercepts greater than 5000 g/t Ag in the Shaft 3 area;10 intercepts greater than 1000 g/t Ag and 5 intercepts greater than 5000 g/t Ag in the Shaft 6 area;
  
  • 11m of 2592 g/t silver, including 4m of 7018 g/t silver, Shaft 3 area
  • 17m of 970 g/t silver, including 11m of 1289 g/t silver, Shaft 3 area
  • 27m of 348 g/t silver, including 9m of 1037 g/t silver, Central area
  • 17.6m of 1251 g/t silver, including 1m of 15436 g/t silver, Shaft 6 area
  • 71m of 121 g/t silver, including 4m of 1186 g/t silver, Shaft 6 area

Chairman, CEO, Gary R. Thompson stated, ‘We are excited to commence drilling at the Langis Silver Project at a time when silver prices are exceptionally strong. This highly favourable silver market allows us to maximize the value of our exploration efforts for shareholders. Our main goal with this drill program is to expand the high-grade silver zones with sufficient drilling to establish an independent maiden mineral resource estimate at Langis. While most of the drilling by Brixton has focused on brownfield work in and around the mine workings, much of the project with favourable geology has yet to be drill tested, so the new discovery potential remains very high on the project.’

Figure 1. Langis Silver Project location and claim map with historical mine workings.

Discussion

The Langis Project is a primary silver brownfield exploration project with secondary gold and cobalt mineralization, which are believed to result from distinct mineralizing events. Mineralization has been identified near contacts with the Nipissing diabase, and at the unconformity between Archean Keewatin basement rocks and the overlying Huronian sediments (Figure 3). Many areas with favourable geology, away from the historical workings, remain to be drill-tested.

Silver is predominantly hosted in vertical, dilatant zones and shear veins, occurring as native silver and silver arsenide. To date, Brixton yielded 220 intervals exceeding 100 g/t Ag with 15 intercepts greater than 1000 g/t Ag, including 3 intercepts greater than 5000 g/t Ag in the Shaft 3 area, 10 intercepts greater than 1000 g/t Ag and 5 intercepts greater than 5000 g/t Ag in the Shaft 6 area, 2 intercepts greater than 1000 g/t Ag in the Central area.

Gold mineralization has been observed locally, particularly around the Shaft 6 area. Examples include drill hole LM-16-003, which returned 4.15m of 4.90 g/t gold, including 0.22m of 74 g/t gold (news release, dated October 18, 2016) and 0.5 meters grading 3.88 g/t Au in hole LM-22-254. Gold remains largely underexplored, and historically, it has not been analyzed in this area.

Since 2016, Brixton has conducted five drill campaigns, resulting in over 40,315 meters drilled at the Langis Project, with a focus on high-grade silver near historic workings. For the 2026 season, the company aims to extend and infill known high-grade silver zones and to test new targets within established structural trends. The goal is to lay the groundwork for a potential maiden resource estimate.

Figure 2. Plan Map of the Langis Mine workings and select drill intercepts.

All reported drill intercepts in the news release are drilled lengths, and true width has not been determined at this time.

Figure 3. Long section of Langis from A (west) to B (east), looking north.

Table 1. Summary of the ten highest-grade silver drill holes completed by Brixton at the Langis Project between 2016 and 2022, as previously reported.

About the Langis Project

The wholly owned Langis Silver Project includes a former producing mine, approximately 500 kilometres north of Toronto, Ontario, Canada, with excellent infrastructure. Silver mineralization is found as native silver and within steeply to moderately dipping veins, veinlets, disseminations, rosettes, and fracture infill, often associated with minerals such as calcite, hematite, pyrite, cobaltite, chalcopyrite, niccolite, and gold. Mineralization is hosted across three principal rock types: Archean Keewatin volcanic and metasedimentary rocks, Proterozoic Coleman Member sedimentary rocks of the Huronian Supergroup, and Proterozoic Nipissing diabase. The geological ore deposit model for this area is considered to be a continental rift-extensional deposition environment. Intermittently from 1908 to 1989, the Langis Mine produced 10.4 million ounces of silver at a head grade of 777.5 g/t silver or 25 opt silver. Reported silver recoveries at Langis were 88% to 98%. Over 10km of underground workings were developed by previous operators; however, shafts and openings have been capped and sealed. Historically, silver mines in the Cobalt Camp have collectively produced over 500 million ounces of silver.

Qualified Person (QP)

Mr. Martin Ethier, P.Geo., is a consultant for the Company who is a Qualified Person as defined by National Instrument 43-101. Mr. Ethier has verified the referenced data and analytical results disclosed in this press release and has approved the technical information presented herein.

About Brixton Metals Corporation

Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis and HudBay silver Projects in Ontario and the Atlin Goldfields Project located in northwest BC, which is optioned to Eldorado Gold Corporation. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO
info@brixtonmetals.com

For Investor Relations inquiries please contact: Mr. Michael Rapsch, Vice President Investor Relations. email: michael.rapsch@brixtonmetals.com or call Tel: 604-630-9707

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, and ‘intend’, statements that an action or event ‘may’, ‘might’, ‘could’, ‘should’, or ‘will’ be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Photos accompanying this announcement are available at:

https://brixtonmetals.com/wp-content/uploads/2026/01/Fig-1-NR-Jan-12-2026-scaled.png

https://brixtonmetals.com/wp-content/uploads/2026/01/Fig-2-NR-Jan-12-2026w-scaled.png

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Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focused on critical mineral discovery, is pleased to confirm the full mobilization of SAGA’s exploration team, drilling crews and additional equipment for the continuation of the major diamond drill program targeting a maiden Mineral Resource Estimate (‘MRE’) at the 100% owned Radar Titanium-Vanadium-Iron (Ti-V-Fe) Project in southeastern Labrador, Canada.

Personnel are expected to arrive in Cartwright, Labrador, on January 16th, and drilling will commence shortly thereafter.

Mineral Resource Estimate Drill Program Highlights To-Date:

• 2 of 8 diamond drill holes assayed (2025 Trapper Zone); full-hole assays from surface:
  • R-0008: 269.36 m @ 36.21% Fe₂O₃, 6.57% TiO₂, 0.244% V₂O₅
  • R-0009: 296.47 m @ 39.75% Fe₂O₃, 7.46% TiO₂, 0.25% V₂O₅
• TiO₂ strength:
  • 46.2% of samples > 7% TiO₂ (majority are 2 m samples)
  • 23.2% of samples > 10% TiO₂ (majority are 2 m samples)
• V₂O₅ strength:
  • 57.7% of samples > 0.2% V₂O₅ (majority are 2 m samples)
  • 30.6% of samples > 0.3% V₂O₅ (majority are 2 m samples)
• Highest TiO₂ to date: 13.30% TiO₂ 2 m assay (core 1800528)
• Exceptional intercepts including: 87.20 m @ 50.67% Fe₂O₃ + 10.15% TiO₂ + 0.339% V₂O₅
• Step-change Trapper North vs. Hawkeye: best full-hole metrics up Fe₂O₃ +124%, TiO₂ +105.9%, V₂O₅ +36.9%
• Significant increase in overall oxide concentration from Trapper vs Hawkeye.
• Next drill assays: additional drill hole assays expected to be released next week.

Kicking off the 2026 Phase of MRE Drilling

The initial focus for the 2026 Radar Project drill program will be in the southern section of the Trapper Zone, also known as ‘Trapper South.’ SAGA’s geological team and Gladiator’s drill crews will take advantage of the extensive trail network created in the summer of 2025, allowing for an easy traverse for snowmobiles and the excavator used to move the drill. Drilling will begin at the southeastern extent of Trapper South, targeting approximately 30 holes (7,500 m). The program will then advance hole by hole back toward Trapper North, positioning the team to complete the remainder of the MRE drill campaign by spring.

Figure 1: Location of the initial kick off to 2026’s phase of drilling at the Trapper Zone, showing the total magnetic intensity (‘TMI’) of the 2025 Trapper Zone ground magnetic survey as well as the grid for the MRE drill program to be completed in 2026.

As seen in Figure 2 below, SAGA will concentrate January drilling on the southeastern-most portion of the Trapper South anomalies. The program will continue to execute the MRE strategy, with drill holes spaced 100 metres apart along 38° azimuth section lines and drilled at a 45° dip. This includes continuing drill holes along the white grid lines shown in Figure 1 above, known as cross-sections. Planned hole depths will average with a minimum of ~150 metres of vertical depth coverage to support confidence in the mineral resource model.

Figure 2: Trapper South depicting the TMI of the 2025 Trapper Zone ground magnetic survey, as well as cross-section S-11 completed in Q4 2025, and the initial area of concentration for the 2026 drill program.

Leveraging observations from the 2025 Phase 1 program and initial assay results, the team can now apply robust geochemical correlations and structural tracking across all incoming core, informed by a detailed review of the first eight drill holes. Special attention will remain on structural measurements and the proper orientated core measurements so the team can continue to model the ore body in three dimensions.

Trapper South Summary

Drilling commencing in January 2026 will build on the successful drilling completed in Trapper South in December of 2025. All four drill holes (R-0012, R-0013, R-0014, and R-0015) completed on cross-section S-11 in Trapper South intersected significant oxide layering, including:

• R-0012 – intersected the eastern side of the main oxide layering with a cumulative 59.88 m of rhythmic oxide layering and 13.67 m of intercumulus oxides.
• R-0013 intersected a cumulative 174.87 m of oxide comprised of 135.87 m of rhythmic oxide layering and 39 m of intercumulus oxides.
• R-0014: cumulated intersections of 69.54 meters of oxide layering.
• R-0015: cumulated intersections of 146 meters of tightly banded rhythmic oxide layering sequences.

The initial cross-section (S-11) of Trapper South has provided vital structural information for the southern half of the property and insights into the regional structural geometry. Analysis suggests that the two anomalies (East and West) were initially connected but have since been separated by a combination of folding and faulting, specifically a left-lateral strike-slip reverse fault.

Figure 3: Outlines a left-lateral, strike-slip reverse fault. The hanging wall (East anomaly) is offset primarily relative to the (West) Footwall. The map shows analogs of the geometric pattern observed in the core in both R-0015 and R-0014. Similar offsets were also viewed in both R-0013 and R-0012.

Drilling on Section S-11 has defined structural geometry, enabling more efficient future drilling. Hole R-0014 proved particularly informative, confirming multiple instances of the reverse faults in the core. This has enhanced the team’s understanding of the structural geometry of the Trapper South anomaly, the genesis of the Dykes River intrusion, and the historical connectivity between the two limbs.

On the surface in Trapper South, the first-pass cross-section (Section S-11) across the width of the anomalies has defined two linear trends and discrete sets of oxide layering sequences:

• Western anomaly: Striking 1.4 km with a width of approximately 150 m.
• Eastern anomaly: Striking 700 m with a width of approximately 150 m.

Michael Garagan, CGO & Director of Saga Metals, commented,

‘We are incredibly eager to remobilize our crew back to the Radar Ti-V-Fe Project in Labrador as we kick off the 2026 phase of our maiden Mineral Resource Estimate drill program at the Trapper Zone. Building on the outstanding success of the 2025 drilling—highlighted by exceptional intercepts such as 269.36 m @ 6.57% TiO₂ and 296.47 m @ 7.46% TiO₂ in Trapper North, along with numerous high-grade samples exceeding 10% TiO₂ and strong vanadium values—this return to the field represents a pivotal moment. The recent assays confirm the district-scale potential of this large layered mafic intrusion, with oxide layering validated over significant strike lengths and structural insights from Trapper South enhancing our targeting efficiency. We are ready to advance in Trapper South, complete the planned ~7,500 meters of drilling, and move to Trapper North in an effort to deliver the data needed for our first resource estimate, positioning Radar as a strategic North American source of critical titanium, vanadium, and iron for defense, aerospace, and clean energy applications.’

About the Radar Ti-V-Fe Property

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.

Figure 4: Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill programs. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is overlaid by ground-based geophysics, as shown.

Vanadiferous titanomagnetite (‘VTM’) mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.

Figure 5: Radar Project’s prospective oxide layering zone validated over ~16 km strike length through Fall 2025 drilling, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Corporate Update

The Company has entered into a debt settlement agreement with an arm’s length creditor to settle outstanding indebtedness in the amount of $178,750 (the ‘Debt’) through the issuance of 275,000 common shares (the ‘Shares’) at a deemed price of $0.65 per Share (the ‘Debt Settlement’). The Debt accrued from the purchase of two vehicles used for exploration on the Company’s properties.

The board of directors determined that the Debt Settlement is in the best interests of the Company as it will preserve cash for exploration activities and strengthen the Company’s balance sheet. The Debt Settlement remains subject to TSX Venture Exchange (the ‘TSXV’) approval. The Shares will be subject to a hold period of four months and one day from issuance in accordance with applicable securities laws and TSXV policies.

Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information disclosed in this news release.

Technical Information

Samples were cut by Company personnel at SAGA’s core facility in Cartwright, Labrador. Diamond drill core was sawed and then sampled intervals. The drill hole core diameter utilized was NQ.

Core samples have been prepared and analyzed at the Impact Global Solutions (IGS) laboratory facility in Montreal, Quebec. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects, and pulps are kept and stored in a secure storage facility for future assay verification. The Company utilizes a rigorous, industry-standard QA/QC program.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the North American transition to supply security. The Radar Ti-V-Fe Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including 4,250 m of drilling, has confirmed a large, mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite mineralization with strong grades of titanium and vanadium.

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares and features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U3O8. Uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

With a portfolio spanning key commodities critical to the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Company’s Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Photos accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/a2630189-91d0-48ee-b96e-0a4207f78500

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Rio Silver Inc. (‘Rio Silver’ or the ‘Company’) (TSX-V: RYO | OTC: RYOOF) is pleased to announce the launch of its newly redesigned corporate website and the expansion of its official social media platforms, marking an important step forward as the Company advances its high-grade silver portfolio during a period of record silver prices.

The new website provides shareholders, stakeholders, and the broader investment community with a clear, modern, and comprehensive view of Rio Silver’s strategy, assets, and progress as the Company executes on a disciplined path toward development in Peru, one of the world’s premier silver jurisdictions.

Stay Connected with Rio Silver

Shareholders and stakeholders are invited to visit the Company’s new website at www.riosilverinc.com, where they can sign up to receive news releases and corporate updates directly as Rio Silver continues to advance its projects.

Investors are also encouraged to follow Rio Silver on its official social media platforms for timely updates and insights as the story continues to unfold:

These channels are intended to complement the Company’s formal disclosure practices by providing additional visibility into ongoing corporate and project developments.

The redesigned website features improved navigation, enhanced project content, and streamlined access to corporate information, reflecting Rio Silver’s evolution and commitment to clear communication as it moves into the next phase of growth. The expanded digital presence comes at a time when silver prices are at all-time highs and investor focus on high-quality silver development opportunities is increasing.

‘As silver markets reach record levels and fundamentals continue to strengthen, it was important that Rio Silver’s digital presence accurately reflect the quality of our assets, the clarity of our strategy, and the direction we are taking as a Company,’ said Chris Verrico, President and Chief Executive Officer of Rio Silver. ‘This platform gives shareholders a clearer window into our progress and reinforces our commitment to transparency, disciplined execution, and building a high-grade silver company positioned for the next phase of this cycle.’

The launch of the new website and expanded social media presence supports Rio Silver’s objective of maintaining consistent engagement with shareholders while providing a centralized, up-to-date source of information as the Company advances its flagship Maria Norte Project and evaluates additional growth opportunities.

About Rio Silver Inc.

Rio Silver Inc. (TSX-V: RYO | OTC: RYOOF) is a Canadian resource company advancing high-grade, silver-dominant assets in Peru, the world’s second-largest silver producer. The Company is focused on near-term development opportunities within proven mineral belts and is supported by a seasoned technical and operational team with deep experience in Peruvian geology, underground mining, and district-scale exploration. With a clear development strategy and a growing portfolio of highly prospective silver assets, Rio Silver is establishing the foundation to become one of Peru’s next emerging silver producers.

Learn more at: www.riosilverinc.com

ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.

Chris Verrico
Director, President and Chief Executive Officer

To learn more or engage directly with the Company, please contact:
Christopher Verrico, President and CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com

Cautionary Note Regarding Forward-Looking Information

This news release contains ‘forward-looking statements’ within the meaning of applicable Canadian securities laws. All statements in this release that are not historical facts are forward-looking statements and are based on expectations and assumptions as of the date of this release. Forward-looking statements relate to future events or performance and include, but are not limited to, statements regarding the Company’s corporate strategy, communications initiatives, planned exploration and development activities, and anticipated future updates.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. These risks include, but are not limited to, operational risks, regulatory risks, availability of financing, commodity price fluctuations, and general economic conditions. Additional risks are described in the Company’s filings available on SEDAR+ at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking statements. Rio Silver does not undertake to update forward-looking statements except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

HIGHLIGHTS:

• Production guidance of 50,000-55,000 oz gold
• Cash Costs of $1,850-$1,950/oz gold and All In Sustaining Costs of $2,025-$2,125/oz gold
• Pre-stripping of Veta Madre open pit expansion at La Colorada
• $27M exploration program funded from operating cash flow

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) is pleased to provide production and cost guidance for 2026 as well as details of growth plans across the portfolio. The Company plans to produce 50,000-55,000 ounces of gold at by-product cash costs of $1,850-$1,950oz gold and a consolidated All-In Sustaining Cost (AISC) of $2,025-$2,125oz gold. Heliostar will utilize the cash generated from ongoing operations to continue to invest in exploration and growth initiatives across the Company’s portfolio, including advancement of the flagship Ana Paula development project towards production.

1. Cash costs and AISC are non-GAAP measures. Please refer to the ‘Non-GAAP Financial Measures’ section of this news release for further information on this measure.
2. AISC is based on the World Gold Council definition.
3. Mine site AISC includes only the portion of corporate G&A allocated to the operating mines. Consolidated G&A includes the aforementioned corporate G&A allocated to the operating mines plus all corporate stock-based compensation.
4. Annual average exchange rate from all costs based on Mexican peso to US dollar (18 pesos per one dollar).

The La Colorada mine (‘La Colorada’) will continue to produce metals from processing Junkyard and other stockpiles with a focus on additional re-leaching opportunities at the operation. The San Agustin mine (‘San Agustin’) successfully resumed mining operations in December 2025 (see the press release dated December 17, 2025) and will continue mining, crushing, stacking and leaching activities to produce gold and silver through 2026 and beyond.

La Colorada

In 2026, the Company expects to produce 20,000-22,300 ounces of gold at an AISC of $1,775-$1,875 per ounce of gold. This will come from crushing and stacking stockpiles, including the Junkyard Stockpile ore, a portion of the Truckshop Stockpile and re-leaching opportunities.

Development of the Veta Madre open pit expansion project is planned to commence in early Q3. The Company plans to conduct pre-stripping of 11 million tonnes of waste in 2026 to access the 43,000 ounces of in-situ gold in reserves at Veta Madre starting in the first half of 2027. This is a key growth initiative that will drive increased production at the mine in 2027.

De-risking drilling of Veta Madre and Veta Madre Plus (a planned cutback and possible expansion, respectively) is ongoing. The results of this program will provide technical information for a refined pit design and may lead to additional mineral reserves. Heliostar has also budgeted for regional exploration beyond the main mine trend at La Colorada with the aim of unlocking the full geologic potential of the larger, under-explored land package. In addition, the Company has planned for a dedicated drill program in the second half of 2026 to investigate the underground potential below the existing open pits at La Colorada. Heliostar intends to invest up to $5.8M in resource development and exploration activities at La Colorada in 2026.

San Agustin

After successfully restarting open pit production in December 2025, the operation will produce at steady state through 2026 and beyond. The Company expects the mine to produce 30,000-32,700 ounces of gold at a site-level, by-product AISC of $2,150-$2,250 per ounce of gold. The increase in cost compared to that shown in the January 2025 Feasibility Study is driven by general inflation, higher contractor mining costs and allocation of corporate general and administrative costs.

Drilling focused on expanding the oxide reserves at the Corner Area and around the existing open pit is ongoing, with 13,000 metres budgeted in 2026. In addition, Heliostar has planned up to 5,000 metres of drilling to investigate the high-grade portions of the large, polymetallic sulphide deposit that sits both adjacent to and beneath the oxides currently being mined. Further, $2.0M has been earmarked for exploration of Heliostar’s claims across the district, including early-stage exploration of the silver-rich Consejo veins mapped at surface. The Company plans to invest up to $9.7M through this year to unlock the full geologic potential of the property.

Ana Paula

The ongoing 20,000 metre infill and expansion drill program at Ana Paula will continue through Q1 2026. Given the success to date, an additional 6,500 metres have been approved to continue to upgrade inferred material currently in the Preliminary Economic Assessment mine plan. Heliostar has commenced work to complete a Feasibility Study for Ana Paula, scheduled to be completed in the first half of 2027. This important milestone will fully define the construction and operating plans to develop a 100k ounce per year gold mine.

Heliostar plans to continue to advance the existing 412 metre production-scale decline into the Ana Paula deposit in 2026. This work is planned to start in Q3 and is part of a broader de-risking and early works program to support production at the mine in the second half of 2028. The completion of the decline will also provide a platform for underground drilling to continue to expand the Ana Paula deposit at depth and explore for the causative intrusion and potential mineralized contact skarn deposit.

In addition, $1.5M has been budgeted for early-stage, regional exploration at Ana Paula. This includes a drone magnetics survey, ground-based gravity survey, property-wide soil sampling and geologic mapping. The Ana Paula project sits on a largely unexplored 56,334ha land package – one of the largest in the prolific and highly prospective Guererro Gold Belt. In total, Heliostar plans to invest $6.6M in resource development and regional exploration at Ana Paula in 2026, in addition to the $15.0M required to extend the decline.

Other Properties

At Cerro del Gallo, Heliostar is advancing permitting discussions alongside active engagement with the local communities and social benchmarking surveys. The Company’s workplan includes an update of the geologic model to allow flotation trade-off testing, further metallurgical test work of the sulphide portion of the deposit and hydrological data collection.

Unga and San Antonio will see modest exploration and metallurgical programs, respectively.

The total planned exploration, development and study expenditure for these properties is $4.9M.

Statement of Qualified Persons

Gregg Bush, P.Eng., Qualified Person, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Bush is employed as Chief Operating Officer of the Company.

Non-GAAP Financial Measures

Management believes that the reported non-GAAP financial measures will enable certain investors to better evaluate the Company’s performance, liquidity, and ability to generate cash flow. These measures do not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these measures differently. Additional details of the Company’s calculation of Cash Costs and All-In Sustaining Costs can be found in the most recent MD&A.

About Heliostar Metals Ltd.

Heliostar is a gold producer with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, the Company’s plans, prospects and business strategies; the Company’s guidance on the timing and amount of future production and its expectations regarding the results of operations; the completion of additional studies, including and the Feasibility Study for Ana Paula; exploration and metallurgical programs; and expectations for other economic, business, and/or competitive factors.

Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280186