Silver One Resources Inc. has completed a resource update for the historic heap leach pads at its flagship Candelaria project in Nevada, lifting total project-wide Measured and Indicated resources to 126.6 million ounces of silver equivalent.

The updated estimate replaces previous figures that reported 108.18 million ounces of silver equivalent in the Measured and Indicated categories. The new calculation upgrades Leach Pad 1 resources entirely to the Measured and Indicated categories, totaling 22.19 million tonnes grading 43.5 grams per tonne silver and 0.075 grams per tonne gold. That material contains 31.03 million ounces of silver and 53,498 ounces of gold.

On Leach Pad 2, the company converted previous Inferred resources into the Indicated category. Leach Pad 2 now holds 11.46 million tonnes grading 44.7 grams per tonne silver and 0.10 grams per tonne gold, containing 16.47 million ounces of silver and 36,835 ounces of gold.

Combined silver-equivalent resources across both leach pads now stand at 49.25 million ounces in the Measured and Indicated categories. The update incorporates results from 36 sonic drill holes completed on Leach Pad 1 in 1992, 45 sonic holes drilled in 2017, and 56 hollow stem auger holes drilled across both pads in 2026.

Silver One holds a 100% interest in the past-producing asset, where reprocessing historic leach pads offers a pathway toward potential near-term production.

The upgraded leach pad inventories will be fed directly into an ongoing Pre-Feasibility Study for the project. That study will integrate revised processing and recovery assumptions, updated capital and operating cost estimates, and mine planning derived from the new resource confidence levels and recent geotechnical work.

“Upgrading the Leach Pad resource to entirely Measured and Indicated categories marks a major step forward for Silver One. This strengthened resource will feed directly into our Pre-Feasibility Study, which remains on track for completion before year-end. The improved confidence in tonnage and grade, combined with the metallurgical data we are generating, positions Candelaria for meaningful advancement as we continue to unlock value for our shareholders.”

— Gregory Crowe, President and CEO

The company expects to deliver the Pre-Feasibility Study before the end of 2026, with a supporting National Instrument 43-101 technical report to be filed on SEDAR+ shortly.

Read the full announcement: Silver One Resources Announces Upgrade of Leach Pad Resources to Measured & Indicated at Candelaria