Maverick Springs Drilling Yields 70m at 160g/t Silver Equivalent

Drilling Success Extends Maverick Springs Potential

Sun Silver Limited has delivered a robust quarterly update for its Maverick Springs silver-gold project in Nevada, highlighting significant extensional drilling results that push mineralisation well beyond the boundaries of the existing Mineral Resource Estimate (MRE). Notably, drillholes MR25-211 and MR25-212 intercepted extensive high-grade zones, including 70.1 metres at 160 grams per tonne silver equivalent and 54.1 metres at 137 grams per tonne silver equivalent respectively, confirming the deposit remains open to the north-west and at depth.

This expansion potential is critical for Sun Silver’s strategy to grow the resource base and enhance geological confidence ahead of future development phases.

Strategic Approvals and Sampling Reinforce Growth Pathway

The company secured regulatory approval for 90 additional drill pads, providing flexibility to intensify both in-fill and extensional drilling programs. Complementary rock chip sampling at surface has also confirmed significant silver and gold mineralisation, with standout samples returning up to 86.9 grams per tonne silver equivalent, underscoring the prospectivity of near-surface zones that could be incorporated into future resource models.

Historic Data Re-Assays Reveal Higher Silver Grades

Sun Silver’s ongoing re-assay program of historic drill core has yielded a consistent uplift in silver grades by approximately 25%, a meaningful revision that could materially enhance the project’s resource metrics. These re-assays employ a more comprehensive four-acid digest method, improving accuracy over previous analyses and supporting the case for a larger, higher-grade resource.

Additionally, the program has identified extensive antimony mineralisation, with broad intervals exceeding 0.1% antimony, paving the way for a potential maiden antimony resource estimate, an exciting diversification of Maverick Springs’ commodity profile.

Capital Raise and Market Expansion

Backing these technical advances, Sun Silver successfully completed a transformational $30 million placement led by prominent domestic and international institutional investors, including major shareholder Nokomis Capital. This capital injection is earmarked to fund ongoing drilling, metallurgical test work, resource upgrades, and early-stage development studies.

In parallel, the company has initiated the process to list on the U.S. Over-the-Counter (OTC) Market, a move designed to broaden its investor base and facilitate trading during U.S. market hours in U.S. dollars, thereby enhancing liquidity and visibility among North American investors.

Financial Position and Outlook

Sun Silver ended the quarter with a strong cash position of approximately $34.2 million, reflecting prudent financial management and the recent capital raise. Exploration expenditure totaled $3.8 million for the quarter, focused on advancing the 2025 drill program and metallurgical studies.

Looking ahead, the company expects continued drilling results through early 2026, with metallurgical test work outcomes anticipated in the first half of 2026. These developments will be pivotal in refining the project’s economic potential and underpinning future resource upgrades.