Vancouver, British Columbia–(Newsfile Corp. – March 16, 2026) – Pacifica Silver Corp. (CSE: PSIL) (OTCQB: PAGFF) (“Pacifica” or the “Company”) is pleased to announce the expansion of its Phase II drill program from 12,000 to 20,000 metres at the Claudia Silver-Gold Project, located in Durango, Mexico. The Company also announces the appointment of Steven I. Weiss, PhD, CPG, as Interim Vice President of Exploration, and a change in auditors to Davidson & Co.
Phase II Drill Program Update
Following the successful closing of Pacifica’s $23 million financing on January 23, 2026, and the receipt of new permits on February 11, 2026, for up to 153 additional drill sites, the Company has expanded its Phase II drill program by 67% from 12,000 to 20,000 metres.
The expanded program is designed to continue expanding known zones of high-grade silver-gold mineralization at the Aguilareña vein, follow up on the recent high-grade discovery at the Justina vein (see news from February 9, 2026), and aggressively drill test the southern extension of the project at the high-priority Mina Vieja and Mina de Oro targets.
From the commencement of the program on January 15 to March 14, a total of approximately 6,452 metres across 25 holes has been drilled (or are in progress) using three drill rigs (see Figure 1 for locations). This includes 354 metres in three Phase I holes that were deepened during Phase II. Numerous assays are pending and will be released in the coming weeks and months. The Phase II drill program is expected to conclude in June 2026.
Figure 1 – Phase II Program Holes Drilled as of March 14, 2026
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Appointment of Interim VP of Exploration
The Company is pleased to announce the appointment of Dr. Steven I. Weiss, PhD, CPG, as Interim Vice President of Exploration, effective immediately, as part of an ongoing leadership transition designed to support the Company’s next stage of growth and discovery.
Octavio Lizardi, previously Vice President of Exploration, will continue contributing his deep expertise in epithermal vein systems as Pacifica’s Senior Structural Geologist-ensuring continuity of technical leadership while allowing focused specialization on the Company’s high-potential vein targets.
Dr. Weiss brings over 45 years of proven success in minerals exploration, including senior roles driving resource expansion in Mexico, to guide the Pacifica team through this exciting growth stage. Since he began working in Mexico in 2003, Dr. Weiss has delivered significant resource expansions at major projects:
- Joined Glamis Gold to lead exploration at the El Sauzal gold mine (1.7 Moz gold produced) and across the Sierra Madre Occidental.
- Continued with Goldcorp after its 2006 acquisition of Glamis, where he built and led the team at the Camino Rojo gold-silver deposit, establishing an initial 1.6 Moz gold in reserves and more than doubling the gold resource from 3.4 Moz to 7.5 Moz.
- Served as Mexico Exploration Manager until departing Goldcorp in 2013.
His specialized expertise in epithermal precious-metal deposits (geologic, geochemical and mineralogical characteristics), with significant success in Mexico’s gold-silver systems, will be instrumental in advancing Pacifica’s exploration objectives and unlocking value for shareholders.
Change of Auditors to Davidson & Co.
The Company is also pleased to announce the appointment of Davidson & Company LLP (“Davidson”) as its new auditor effective as of March 16, 2026. Davidson replaces Mao & Ying LLP (the “Former Auditor”) as the Company’s auditor.
The change in auditor was approved by the Company’s Audit Committee and Board of Directors. There was no modified opinion expressed in the Former Auditor’s report on any of the Company’s financial statements relating to the period commencing at the beginning of the Company’s two most recently completed financial years and ending on the date of resignation of the Former Auditors.
There have been no “reportable events” within the meaning assigned under subsection 4.11(1) of National Instrument 51‐102 Continuous Disclosure Obligations.
About Pacifica Silver Corp.
Pacifica Silver Corp. is a Canadian resource company led by a proven management team with decades of mining and exploration experience in Mexico. The company is focused on its 100% owned Claudia Silver-Gold Project located in Durango, Mexico. Spanning 11,876 hectares, the Project encompasses most of the historic El Papantón Mining District where at least nine small mines operated intermittently during the 20th century. Since 1990, sampling and drilling within have returned high-grade silver and gold intercepts across multiple vein systems, with only 10% of over 30 kilometres of known veins having been drilled. Today, the property is a prime target for modern exploration and holds exceptional potential for new high-grade discoveries.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Todd Anthony
Phone: 778-999-2627
Email: info@pacificasilver.com
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of Canadian securities legislation, including statements regarding the perceived merit of the Project, potential quantity and/or grade of minerals, and the potential size of the mineralized zone. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. These risks include, but are not limited to, risks related to uncertainties inherent in the preparation of mineral resource estimates, changes to geotechnical or hydrogeological considerations, and risks associated with executing the Company’s objectives and strategies.
