11.5m at 8.61 g/t Gold and 57.6 g/t Silver: Mithril’s Copalquin Drill Breakthrough

A New High-Grade Discovery at Copalquin

Mithril Silver and Gold Limited has announced compelling results from its maiden drilling program at the Target 2 area, known as Las Brujas, within the Copalquin gold-silver district in Durango State, Mexico. The standout intercept from drill hole T2DH25-006 returned an impressive 11.5 metres grading 8.61 grams per tonne (g/t) gold and 57.6 g/t silver starting from a shallow depth of 44.5 metres. Within this interval, higher-grade zones were identified, including 3.85 metres at 25.33 g/t gold and 128 g/t silver, and a remarkable 0.85 metres at 109.5 g/t gold and 325 g/t silver.

Expanding the District Footprint

Beyond Las Brujas, Mithril has completed the first phase of drilling at El Peru, located approximately 400 metres east, where multiple shallow holes have extended the known mineralized footprint. The company has also established a second exploration camp to accelerate mapping and target generation at Targets 2 and 3, signaling a strategic commitment to unlocking the eastern potential of the Copalquin district.

Adding to the excitement, a new target area called El Apomal has been defined, featuring a 130-metre underground adit that has been dewatered, mapped, and sampled, with assay results pending. Surface vein structures traced over 300 metres at El Apomal present a compelling drill target, potentially expanding the district’s resource base.

District-Scale Potential and Resource Growth

The Copalquin district’s scale is underscored by over 1,000 metres of vertical relief between Target 2 and Target 5 (El Apomal) across a 5-kilometre strike length. This structural complexity supports the potential for a large, multi-target mineralized system. Meanwhile, resource expansion drilling continues at Target 1 (El Refugio), where deep drilling intercepts are being assayed to update the existing JORC-compliant resource estimate.

To date, Mithril’s maiden JORC resource at El Refugio-La Soledad comprises approximately 2.4 million tonnes grading 4.8 g/t gold equivalent, containing 373,000 ounces of gold and nearly 11 million ounces of silver. Metallurgical test work supports the feasibility of conventional underground mining and high recovery rates for both metals.

Strategic Outlook

John Skeet, Mithril’s CEO and Managing Director, emphasized the company’s multi-front progress across the district, highlighting the strong drill results at Las Brujas and the promising new targets at El Apomal and El Peru. The company holds an exclusive option to acquire 100% interest in the Copalquin concessions by August 2028, positioning it well to capitalize on the district’s growing potential.

With ongoing drilling, mapping, and sampling programs, Mithril is poised to further delineate and expand its resource footprint, potentially transforming Copalquin into a significant gold-silver district within Mexico’s prolific Sierra Madre Gold-Silver Trend.