Mithril Silver and Gold Limited has filed the technical report supporting its upgraded Mineral Resource Estimate for the Target 1 deposit at its flagship Copalquin Project in Durango State, Mexico.

The technical report, titled Technical Report – Updated Mineral Resource Estimate – Target 1, Copalquin Property, Durango Mexico, carries an effective date of June 29, 2026. The official filing on SEDAR+ follows the company's resource update, which delivered a 196% increase in higher-confidence Indicated gold and silver resources compared to the previous estimate.

The upgraded resource incorporates approximately 60,000 metres of drilling across 204 diamond drill holes, achieving an overall Target 1 discovery cost of less than US$20 per ounce of gold equivalent. The constrained and diluted estimate totals 343 thousand ounces of gold and 8.479 million ounces of silver in the Indicated category (3.391 million tonnes grading 3.15 g/t gold and 77.8 g/t silver), alongside 103 thousand ounces of gold and 3.398 million ounces of silver in the Inferred category (1.436 million tonnes grading 2.23 g/t gold and 73.6 g/t silver).

Unlike purely geological inventories, the resource is constrained within preliminary underground mining shapes and incorporates expected mining dilution. This approach provides a realistic representation of material for future engineering, economic evaluation, and mine planning as the deposit advances toward development.

The technical document was prepared by independent qualified person John Sims of Sims Resources LLC, alongside company personnel James Barr, vice president of exploration, and John Skeet, managing director and chief executive officer.

Mithril Silver and Gold is applying the geological insights gained from the Target 1 work across multiple high-grade targets within the broader epithermal system at the Durango property.

Precious metals supporting the operational environment traded higher over the 30-day period leading to mid-August 2026. Gold reached $4,415.50 per ounce, marking a 9.91% increase over the timeframe, while silver traded at $65.77 per ounce, recording a 17.55% increase.

Read the full announcement: Mithril Silver & Gold Announces Filing Of Technical Report