Silver One Reports Significant Drill Results Extending Candelaria Mineralization

Silver One Resources Inc., a company focused on the exploration and development of silver projects, has announced significant drill results from its ongoing 25,000-meter reverse-circulation drilling campaign at the Candelaria Project in Nevada. The company has reported assay results from the first two drill holes, SOC26-196A and SOC26-197, which have extended the known mineralization down-dip by 400 meters, marking a substantial expansion of the mineralized system.

In drill hole SOC26-196A, the company intersected 9.14 meters averaging 472 grams per tonne (g/t) of silver, 0.60 g/t of gold, 0.87% lead, and 1.10% zinc, within a broader 25.91-meter zone averaging 215 g/t of silver, 0.33 g/t of gold, 0.43% lead, and 0.55% zinc. The mineralization begins at a depth of 542.55 meters, with true-widths approximately 94% of the drill intercepts. This result is particularly significant as it extends the mineralization down-dip by 400 meters from the nearest drill hole used in the 2025 resource estimate.

Drill hole SOC26-197 intersected 3.05 meters averaging 454 g/t of silver, 0.68 g/t of gold, 1.45% lead, and 1.77% zinc, from 391.67 meters. An additional 4.58 meters of intercept averaged 112 g/t of silver, 0.16 g/t of gold, 0.24% lead, and 0.42% zinc from 403.86 meters. These results continue to demonstrate the robustness and potential of the Candelaria mineralized system.

Greg Crowe, President and CEO of Silver One, stated, "These initial 2026 drill results continue to demonstrate the strength and scale of the Candelaria mineralized system. The grades, thicknesses, and the 400-meter down-dip extension achieved in SOC26-196A, highlight the remarkable continuity of the mineralization and reinforce our view that Candelaria hosts a robust and expanding silver-gold-base-metal system."

Metallurgical testing conducted in 2023 on sulphide samples from two drill holes drilled in 2022 confirms that flotation effectively recovers silver, gold, lead, and zinc. Average flotation recoveries were 62% silver, 72% gold, 50% lead, and 37% zinc. Cyanidation of flotation tails significantly improved precious-metal extraction, increasing silver recovery to 71% to 84% (average 77.5%) and gold recovery to 75% to 89% (average 82%).

The company is advancing towards completing its pre-feasibility study at Candelaria, with plans to use conventional cyanide extraction on both fresh open-pit material and heap leach material. The project is expected to generate robust economic returns, even under conservative recovery assumptions associated with cyanide extraction of the heap leach material. Silver One aims to complete the pre-feasibility study by the end of the year and then move forward with updating and renewing existing permits with the aim of making a production decision.

The Candelaria Project, located in Nevada, is the company's flagship project, with potential reprocessing of silver from the historic leach pads at Candelaria providing an opportunity for possible near-term production. The project also includes previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits.