Silverco Begins Exploration Drilling at La Negra Project

Vancouver, British Columbia–(Newsfile Corp. – July 13, 2026) – Silverco Mining Ltd. (TSXV: SICO) (“Silverco” or the “Company”) is pleased to report that surface and underground exploration drills have been mobilized at its 100% owned La Negra Project (“La Negra”) in Querétaro, Mexico.

Mark Ayranto, CEO of Silverco, commented:

“Commencing our first exploration program at La Negra marks an exciting milestone for Silverco. With two rigs now active as part of a planned 15,000 metre 2026 program, we are focused on testing high-grade silver zones with potential to feed into the mine plan early in the mine life and additional priority targets. Through the remainder of H2 2026 we expect initial results from this program, an updated mineral resource estimate and a life-of-mine plan for La Negra. These catalysts are in addition to expected results from the ongoing 30,000 metre drill program and the planned restart of Cusi in late Q4 2026, making for a catalyst rich H2 2026.”

The primary focus of the 2026 program will be targeting areas with the potential for high grade silver within proximity of the existing La Negra underground mine. The project database contains more than 2,850 drill holes totalling over 230,000 metres, completed over the property’s more than 50-year history. The majority of drilling over the last 20 years has been near existing development. This drilling has returned numerous significant historical results, including wide intervals and high grades, across a multitude of deposits and orebodies that the Company believes carry high potential and warrant substantial follow-up. Many of these zones have seen limited or no drilling in over a decade, and mineralization remains open vertically and laterally. Selected historical results are presented in Tables 1 and 2.

Surface drilling will initially focus on the Valenciana target, located less than one kilometre northwest of existing underground workings, while underground drilling will test multiple target areas proximal to existing mine development, including Maravillas, Valeria, and Blanca. Collectively, these targets are prioritized based on the strength of historical drill results, proximity to existing infrastructure, and the potential to add high-grade silver material to future mine plans.

Work To Date

Drill mobilization follows several months of systematic technical groundwork completed in H1 2026. The Company has consolidated and validated the project’s drillhole database, reviewed historical geological mapping from previous operators, and completed new underground mapping across existing mine workings. Standardized core logging protocols and QA/QC procedures have been established for the 2026 program, and drill core will be submitted for multi-element analysis, providing the geochemical dataset needed to vector toward silver-rich portions of the zoned skarn system. In parallel, the Company has reinterpreted the deposit’s resource wireframes through rigorous three-dimensional geological modelling, which now form the foundation for an updated mineral resource estimate (“MRE”) expected to be completed in the coming months.

The Company also plans to fly a property-wide LiDAR survey aimed at identifying potential surface expressions of chimney-style high-grade mineralization, including historical workings, subsidence features, and structural lineaments not evident in existing topographic data.

This work has generated a substantial inventory of exploration targets across the property. The 2026 program will test a prioritized subset of these targets, with the remainder forming a multi-year exploration pipeline.

Deposit Style

La Negra is a silver-rich polymetallic (Ag-Pb-Zn-Cu) skarn deposit, part of the broader family of carbonate replacement (CRD) and skarn systems that host many of Mexico’s largest and longest-lived silver mines. Mineralization formed where fluids associated with granitic intrusions replaced the surrounding Cretaceous carbonate rocks, producing clusters of high-grade sulfide bodies along intrusive contacts and favourable structures. Orebodies in CRD-skarn systems rarely occur in isolation, and mineralization at La Negra remains open at elevation, at depth, and laterally along the host structures and intrusive contacts.

Figure 1: La Negra Plan Underground As-builts and Deposit Zones

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Figure 2: La Negra Underground As-builts and Zones, Long Section Looking North

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Figure 3: Blanca Deposit Long Section, Looking North

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Figure 4: Valenciana Long Section, Looking North

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Figure 5: Valeria Long Section, Looking North

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Figure 6: Maravillas Long Section, Looking North

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Detailed historical drill results, along with notable assays results are provided in Tables 1 and 2.

Table 1: Significant Historical Assay Results from La Negra

Hole ID	Zone	From  (m)	To  (m)	Length  (m)	Ag g/t	Au  g/t	Pb %	Zn  %	AgEq  g/t
Va-01 (3)	Valenciana	295.0	301.6	6.6	186.3	1.49	3.35	0.19	244
Va-02	Valenciana	328.2	331.5	3.3	186.5	1.36	1.27	0.88	247
Lo-04 (3)	Valenciana	293.1	296.8	3.7	299.4	5.38	3.98	0.36	408
V-17 (3)	Valenciana	94.2	109.1	14.9	214.3	2.09	0.71	0.51	244
INT-07	Valenciana	322.5	328.3	5.8	166.5	0.65	3.22	0.21	216
V-2	Valenciana	66.6	71.6	5.1	195.9	1.81	1.99	0.51	251
2021-001-TRD	Valeria	57.2	77.2	20.0	131.7	0.51	1.47	1.28	220
2021-033-TRD	Valeria	214.1	239.1	25.0	133.4	0.16	1.48	1.82	252
2021-024-TRD	Valeria	251.5	269.8	18.3	96.4	0.28	3.93	1.09	224
2021-022-TRD	Valeria	232.3	234.3	2.0	319.0	1.43	10.00	1.11	534
2021-033-TRD	Valeria	277.3	285.4	8.1	124.2	0.52	4.49	0.56	227
VIR-6 (3)	Blanca	123.3	134.2	10.9	214.4	0.67	1.96	0.32	238
AJ-10	Blanca	135.9	143.5	7.7	249.3	0.98	5.07	0.58	345
Dvir-290	Blanca	56.8	66.0	9.2	264.6	2.01	3.64	0.56	342
Deli-319	Blanca	65.8	73.5	7.7	229.5	1.57	7.45	0.45	374
Ddif-420	Blanca	31.6	40.2	8.6	183.4	1.20	3.71	0.85	287
Dvir-302	Blanca	31.2	35.7	4.5	392.4	1.95	2.25	0.81	434
2021-017-DIF	Blanca	199.3	211.2	11.9	94.3	0.03	0.39	2.07	214
VIR-1	Blanca	159.8	163.3	3.5	640.7	3.62	5.07	0.48	687
AJ-5	Blanca	150.6	161.7	11.1	80.0	2.52	2.88	0.12	159
AJ-2	Blanca	52.6	55.6	3.1	390.5	8.14	5.34	0.38	544
Imar-60	Maravillas	112.9	139.1	26.2	82.8	0.16	5.02	1.17	237
Dmara-234	Maravillas	23.9	25.9	2.0	672.0	3.24	15.38	1.21	948
LNH-177	Maravillas	12.5	15.0	2.5	162.8	0.52	6.79	0.06	270
PM-5 (3)	Maravillas	39.8	54.9	15.1	166.5	0.92	2.24	0.37	211
PM-4	Maravillas	29.2	42.8	13.6	448.1	2.67	7.18	0.70	574
Imar-58	Maravillas	70.2	88.5	18.3	180.3	0.57	2.50	2.30	344

 

Notes

(1) AgEq = Ag g/t x Ag Recovery + [(Cu% x Cu rec. X Cu price/t)+(Pb% x Pb rec. X Pb price/t) + (Zn% x Zn rec. X Zn price/t)]/Ag price/gram. Metal price assumptions are: $38.00/oz silver, $4.40/lb copper, $0.90/lb lead, $1.30/lb zinc. Metallurgical recovery assumptions are 80.2% for silver, 79.2% for copper, 80.3% for lead, and 80.7% for zinc. Metallurgical recoveries used in this release are based on historical operational results on the La Negra project.
(2) Reported intervals are downhole core lengths.
(3) Intervals contain unsampled portions, grade set to 0 for all unsampled portions within interval.

Table 2: Historical Drill Collar Location

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Length
Va-01	446,523	2,305,756	2,384	318	-49	577.7
Va-02	446,524	2,305,757	2,383	330	-48	460.0
Lo-04	446,647	2,306,280	2,593	208	-60	311.5
V-17	446,113	2,305,894	2,279	38	-40	120.0
INT-07	446,561	2,305,496	2,450	34	-45	371.2
V-2	446,167	2,305,908	2,381	347	0	85.4
2021-001-TRD	447,863	2,305,675	1,777	209	-59	212.1
2021-033-TRD	447,639	2,305,543	1,805	58	-22	359.8
2021-024-TRD	447,637	2,305,544	1,803	63	-28	380.3
2021-022-TRD	447,636	2,305,543	1,803	59	-40	273.0
2021-033-TRD	447,639	2,305,543	1,805	58	-22	359.8
VIR-6	447,123	2,305,480	2,512	57	-60	197.3
AJ-10	447,301	2,305,558	2,543	250	-60	154.4
Dvir-290	446,861	2,305,548	2,192	171	-30	112.4
Deli-319	446,851	2,305,638	2,208	240	15	101.2
Ddif-420	447,146	2,305,361	2,208	74	-30	78.1
Dvir-302	446,857	2,305,549	2,192	223	-26	56.9
2021-017-DIF	447,225	2,305,404	2,142	264	-24	285.8
VIR-1	447,056	2,305,471	2,507	340	-70	188.1
AJ-5	447,052	2,305,482	2,509	15	0	281.2
AJ-2	447,086	2,305,666	2,662	85	-75	163.7
Imar-60	447,619	2,305,385	2,027	302	-35	160.4
Dmara-234	447,595	2,305,425	2,110	211	-1	78.9
LNH-177	447,409	2,305,556	2,054	235	0	34.9
PM-5	447,652	2,305,542	2,312	158	-15	71.0
PM-4	447,650	2,305,539	2,312	200	-15	81.0
Imar-58	447,620	2,305,388	2,026	327	-34	110.3

 

Notes

(1) Hole azimuths and dips are based on average of surveyed intervals

Quality Assurance/Quality Control and Sampling Procedures

Historical drill results disclosed in this news release are derived from drill logs, digital databases and technical reports in the Company’s possession. The Qualified Person has reviewed the available historical records and considers the results to be reasonably reliable and relevant to the current exploration program; however, the Company has not independently re-sampled or re-assayed the historical drill core, and the QA/QC protocols employed at the time of the original drilling cannot be fully verified.

All drill core samples from the 2026 exploration program will be subject to industry-standard QA/QC protocols, including the systematic insertion of certified reference materials, blanks, and duplicates into the sample stream.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Nico Harvey, P.Eng., Vice President Project Development of Silverco, a Qualified Person as defined in National Instrument 43-101. Mr. Harvey is not independent of the Company. Mr. Harvey has reviewed the technical information disclosed herein.

About Silverco Mining Ltd.

Silverco Mining Ltd. is a Canadian silver producer focused on building a leading multi-asset silver portfolio in Mexico. The Company owns 100% of the producing La Negra Mine in Querétaro and the past-producing Cusi Silver Complex in Chihuahua, two established underground mining operations with significant infrastructure, exploration upside, and district-scale land positions. The Company is restarting Cusi in H2 2026, positioning Silverco to become a significant primary silver producer in the Americas in the near term. Led by an experienced management team with a proven track record in mine development, operations, and capital markets, Silverco is focused on creating long-term shareholder value through disciplined growth and responsible mining practices with a goal of becoming a 10 million ounce silver equivalent per year within three years. Silverco’s common shares trade on the TSX Venture Exchange under the symbol “SICO” and on the OTCQB under the symbol “SICOF. More information on the company and its projects can be found at www.silvercomining.com.

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.

Cautionary Statement and Forward-Looking Information

This news release contains “forward-looking statements” and “forward-looking information” (together, “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or the Company’s future performance and are generally identified by words such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “forecast”, “goal”, “intend”, “may”, “objective”, “outlook”, “plan”, “potential”, “priority”, “schedule”, “seek”, “should”, “target”, “will”, and similar expressions (including negative and grammatical variations).

Forward-looking statements in this release include, but are not limited to: the commencement of exploration drilling at La Negra; the expected timing of first results from the 2026 exploration program, an updated mineral resource estimate and an updated life of mine plan; the potential to intersect higher grade silver at La Negra; and the Company’s expectations regarding production, operations and development activities at Cusi and La Negra.

These forward-looking statements are based on a number of assumptions that, while considered reasonable by the Company as of the date of this release, are inherently subject to significant business, technical, economic and competitive uncertainties and contingencies. Key assumptions include: the accuracy, representativeness and continuity of sampling and assay results; that drill hole orientation and modeling reasonably estimate true widths; that metallurgical recoveries used to calculate AgEq ( 80.2% for silver, 79.2% for copper, 80.3% for lead, and 80.7% for zinc) are reasonable proxies based on historical operational data at Cusi; the availability of drill rigs, personnel and analytical laboratory capacity on expected timelines; timely receipt of permits and approvals necessary for planned work; access to surface rights and community support; no material adverse changes to general business, economic, market and political conditions; commodity price and foreign exchange assumptions; inflation and input costs remaining within expectations; and the Company’s ability to secure additional financing on acceptable terms when required.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. Such factors include, without limitation: exploration, development and operating risks (including drilling, sampling, assaying, interpretation and modeling uncertainties; variability of mineralization; representativity of samples; true-width estimation; metallurgical variability; water management; geotechnical and ground conditions); risks inherent in estimating or converting mineral resources; the absence of current mineral reserves at the Cusi Property; that AgEq is a reporting metric only and does not imply economic recoverability; permitting, licensing and regulatory risks in Mexico (including changes in mining, environmental, labour, water, land access and related regimes); community relations, social licence and stakeholder engagement risks; title, surface rights, access and environmental liability risks; health, safety and security risks; commodity price and FX volatility (silver, gold, lead, zinc; MXN/CAD/USD); cost inflation, supply-chain disruptions and contractor availability; political and macroeconomic instability; financing and liquidity risks (including the availability and terms of debt and/or equity); TSX Venture Exchange and other regulatory approvals; counterparty risks; limitations and uncertainties relating to historical data and third-party reports; force majeure events; litigation and enforcement risks; and those additional risks set out in the Company’s public disclosure filings available on SEDAR+ at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking statements. The purpose of forward-looking statements is to provide readers with information about management’s current expectations and plans and may not be appropriate for other purposes. No assurance can be given that such statements will prove to be accurate; actual results and future events could differ materially. The Company undertakes no obligation to update or revise any forward-looking statements contained herein, except as required by applicable securities laws.

Source: https://www.newsfilecorp.com/release/304894/Silverco-Begins-Exploration-Drilling-at-La-Negra-Project