Advance Metals Secures 100% Interest in Guadalupe y Calvo, Boosting Mexico Portfolio to 100Moz AgEq

Transformational Acquisition in Mexico

Advance Metals Limited has taken a major step forward in its Mexican exploration strategy by securing the right to earn a 100% interest in the Guadalupe y Calvo (GyC) gold-silver project from Endeavour Silver Corp. This binding agreement, announced on 22 July 2025, marks a significant expansion of Advance’s portfolio, pushing its total silver-equivalent endowment in Mexico beyond 100 million ounces across three key projects.

Located in Chihuahua State within the prolific Sierra Madre Occidental Volcanic Belt, the GyC project is a high-grade gold-silver asset with a rich mining history dating back to 1835. Historic production in the area is estimated at over 2 million ounces of gold and 31 million ounces of silver, underscoring the district’s long-standing mineral potential.

Robust Resource Base and High-Grade Drilling

The project boasts a substantial Foreign Resource Estimate published in 2021, comprising 9.5 million tonnes at 2.7 grams per tonne gold-equivalent, containing 816,000 ounces gold-equivalent or 60.6 million ounces silver-equivalent. This includes a high-grade underground component of 3.05 million tonnes at 5.0 grams per tonne gold-equivalent, representing 494,000 ounces gold-equivalent.

Drilling results highlight multiple strong intersections with impressive grades, such as 15 metres at 16.8 g/t gold and 373 g/t silver, and 1.95 metres at 22.5 g/t gold and 1,456 g/t silver. These results reflect the project's potential for significant resource growth, which Advance Metals plans to explore aggressively.

Strategic Regional Positioning

Geographically, Guadalupe y Calvo sits approximately midway between Advance’s existing Yoquivo Silver-Gold Project to the north and Gavilanes Project to the south, enhancing the company’s footprint in a highly prospective region. The project’s proximity to established infrastructure and an experienced local workforce further supports its development potential.

Advance Metals will operate the project during the earn-in period, which spans four years and involves staged payments totaling US$4 million in cash, shares, and exploration expenditure. The company has the option to accelerate payments and earn-in milestones at its discretion.

Next Steps and Market Implications

With the acquisition agreement now in place, Advance Metals plans to commence exploration activities promptly, subject to regulatory and shareholder approvals. The company aims to validate historic drilling, refine targets, and initiate a confirmatory and extensional drilling program to unlock further value from the project.

Managing Director Dr Adam McKinnon emphasised the transformational nature of the acquisition, positioning Advance Metals as a leading ASX participant in Mexico’s silver-gold exploration sector. The addition of high-grade gold to its portfolio comes at a time of strong demand and pricing for precious metals, potentially enhancing the company’s market appeal.