Mithril Silver and Gold Limited has returned wide, high-grade silver and gold intercepts from systematic drilling at the historic Copalquin Mine area within its district-scale Copalquin property in Durango State, Mexico.

The latest results from Target 4 extend mineralisation across the combined Copalquin-Zaragoza corridor to a strike length of 550 metres and 200 metres vertically. Drill hole CO26-001 intersected 11.70 metres grading 456 g/t silver equivalent from 22.0 metres downhole, including a 3.40-metre interval at 1,239 g/t silver equivalent from 28.4 metres, which featured a 0.60-metre section grading 3,877 g/t silver equivalent from 31.2 metres.

Additional assay results include drill hole CO26-002, which intercepted 13.95 metres grading 387 g/t silver equivalent from 88.85 metres, including 1.00 metre at 1,747 g/t silver equivalent from 97 metres. Drill hole CO26-003 returned 6.50 metres grading 320 g/t silver equivalent from 93.4 metres, including 0.80 metres at 1,890 g/t silver equivalent from 97 metres.

The projected vein remains untested for 400 metres to the northwest toward Target 1 and 600 metres to the southeast toward Target 4.

“These results represent an important step forward in our progress at the historic Copalquin Mine area within this large, high-grade gold-silver system. What began as an area with limited geological understanding has progressed with potential to be a substantial, high-grade mineralised corridor, with drilling demonstrating strong gold and silver mineralisation over a substantial strike length and across multiple levels,” said John Skeet, Managing Director and CEO. “Drilling has recommenced at Target 4 to test the structure to the southeast.”

— John Skeet, Managing Director and CEO

The property covers a 70 square kilometre mining concession featuring over 100 historic underground workings and approximately 200 surface workings active between 1850 and 1910. Mithril holds an exclusive option to purchase a 100% interest in the Copalquin mining concessions by paying US$10M on or before August 7, 2028. The company is undertaking an aggressive exploration program in 2026 with 25,000 metres of drilling planned across the district.

Mithril Silver and Gold Limited will file a NI 43-101 Technical Report for the Copalquin Target 1 Area on SEDAR+ within 45 days of August 27, 2026.

Read the full announcement: Mithril Drills Wide, High-Grade Intercepts Confirming 550m Strike with First Systematic Drilling in the Copalquin-Zaragoza Structure at Target 4