Drilling Hits Up to 3,224g/t Silver and 21.9g/t Gold Outside Current Resource

Exceptional Drilling Results Extend Mineralisation

Andean Silver Limited has announced a series of striking drilling results from its Cerro Bayo Silver-Gold Project in Chile, with assays revealing bonanza-grade silver and gold intersections well beyond the boundaries of the current Mineral Resource Estimate. Highlights include a remarkable 1.5-meter intercept grading 3,168 grams per tonne silver equivalent (1,347g/t silver and 21.9g/t gold) in a previously unidentified hanging wall lode at the Delia SE area.

These results come from the second phase of drilling targeting extensions of primary mineralised domains within the Laguna Verde underground mine complex. The program is focused on multiple lodes within a one-kilometer radius of the processing facility, including Delia SE, Coyita, Fabiola, and the Appaloosa Breccia near the Taitao open pit.

Discovery of New Mineralised Orientations

Beyond extending known veins, the drilling has uncovered new east-west oriented high-grade linking lodes that were previously unmodelled. These structures, similar to those found in other prolific epithermal districts, represent fresh targets that could substantially increase the resource base. For example, Coyita SE drilling returned intervals such as 16.1 meters at 352g/t silver equivalent, including a blistering 0.8 meters at 4,257g/t silver equivalent.

The Appaloosa Breccia, a district-scale fault breccia zone, has also shown promising mineralisation with broad intercepts like 19.9 meters at 85g/t silver equivalent, indicating potential for bulk mining scenarios both underground and in future open pit optimisations.

Strategic Drilling and Resource Growth Plans

Andean is deploying three drill rigs to aggressively explore and expand the Cerro Bayo resource, aiming to convert inferred resources to indicated categories and test numerous open-ended lodes. The company’s CEO, Tim Laneyrie, emphasised the significance of hitting bonanza grades outside current resources and the discovery of new vein orientations, which collectively open the door to substantial resource growth.

With a current global Mineral Resource of 9.8 million tonnes at 351g/t silver equivalent containing 111 million ounces of silver equivalent, the project is poised for rapid advancement. The company’s well-funded position, with approximately A$34.1 million in cash as of September 2025, supports ongoing exploration and future feasibility studies.

Looking Ahead

Over the next 12 months, Andean plans to continue drilling brownfield targets within the Laguna Verde and Cerro Bayo areas, initiate broader regional exploration campaigns, and commence internal studies to guide future restart planning phases. The aggressive exploration strategy aims to unlock the full potential of this high-grade silver-gold asset and transition the company from explorer to producer.