Pacifica Silver updates Claudia Silver-Gold Project, Mexico

Pacifica Silver Corp. [CSE: PSIL; OTCQB: PAGFF] provided an update on exploration activities at its 100%-owned Claudia Silver-Gold Project in Durango State, Mexico. Recent assay results from 286 surface channel samples collected in late 2025 and early 2026 have enabled the company to identify and commence drill testing of two new high-priory targets at the Pinolera zone and recently recognized Contraria vein swarm.

These targets are included in the company’s ongoing 20,000-metre Phase II drill program where a total of 35 holes totaling over 8,854 metres have been drilled as of March 30. The company has also granted 1.4 million incentive stock options to directors, officers, advisors and consultants.

Surface sampling has identified new high-priority drill areas. Building on positive rock-chip sampling results announced on October 9, 2025, recent multi-element assay results from 286 surface channel samples collected between late 2025 and early 2026 have confirmed high-grade silver and gold mineralization at surface in previously unsampled and underexplored areas in the southern portion of the property.

The ongoing channel sampling and mapping program, focused on the area between the historical Tres Reyes and Mina Vieja mines, has now extended known silver-gold mineralization at the Tres Reyes vein by 250 m to the south; extended known mineralization at the Pinolera zone to nearly 600 metres; further refined the Justina vein extent to approximately 750 metres; and filled in multiple transects across the Contraria vein swarm. Highlights from channel sampling include: 17.5 g/t Au and 59 g/t Ag over 0.6 metres; 4.82 g/t Au and 66 g/t Ag over 1.5 metres; 1.64 g/t Au and 109 g/t Ag over 1.5 metres; 0.51 g/t Au and 117 g/t Ag over 0.5 metres and 1.48 g/t Au and 63 g/t Ag over 1.5 metres.

The highest gold assays were obtained from quartz veins in the Contraria vein swarm northwest of Mina Vieja, including 17.5 g/t Au and 59 g/t Ag over 0.6 metres and 4.82 g/t Au and 66 g/t Ag over 1.5 metres. At surface, the Contraria vein swarm consists of multiple intermittently exposed, subparallel quartz veins, up to approximately 20 cm in width individually, that extend over an area 300 m wide and 1.2 km from the Guadalupana vein to Mina de Oro.

The highest silver assays of 117 g/t Ag and 0.51 g/t Au as well as 109 g/t Ag with 1.64 g/t Au came from the southern Tres Reyes vein and the eastern Pinolera zone, respectively. The Pinolera zone is a N70W-striking, up-to-40-m-wide zone of subparallel veins that intersects the Justina vein and extends west to the Tres Reyes vein.

As of March 30, the company has drilled over 8,854 metres in 35 diamond-core holes, including 354 metres in three Phase I holes that were re-entered and deepened.

The 20,000-metre Phase II drill program is designed to continue extending zones of high-grade silver-gold mineralization at the Aguilareña vein; follow up on the recent high-grade discovery at the Justina vein and drill test the southern extension of the Aguilareña-Tres Reyes vein as well as the high-priority Justina vein, Contraria vein swarm, Pinolera, Mina Vieja and Mina de Oro areas.

Pacifica’s Board of Directors approved the granting of 1.4 million incentive stock options to directors, officers, advisors, and consultants of the company, in accordance with its equity incentive plan.

The stock options have an exercise price of C$1.22 per share and are exercisable for a period of five years from the date of grant. The options will vest over an 18-month period, with 25% vesting upon grant, 25% vesting six months after the date of grant and an additional 25% vesting every six months thereafter. All options are subject to the terms and conditions of the company’s equity incentive plan and regulatory approvals.

Pacifica’s mapping and sampling program is ongoing to cover widespread areas of the Claudia project that have been previously underexplored. For the 286 samples analyzed as of March 14, a statistical breakdown of assays based on silver and gold grades is as follows.

By Silver Values: Top 11 samples (4%) assayed ≥30 g/t Ag, with a maximum of 117 g/t Ag and an average of 61 g/t Ag and 2.68 g/t Au. Top 23 samples (8%) assayed ≥18 g/t Ag, with an average of 40 g/t Ag and 1.43 g/t Au.

Across all 286 samples, the average was 5 g/t Ag and 0.19 g/t Au, including 213 samples assayed at or less than the lower limit of detection of 2 g/t Ag.

By Gold Values: Top eight samples (2.8%) assayed ≥1.00 g/t Au, with a maximum of 17.5 g/t Au and an average of 3.78 g/t Au and 43 g/t Ag.

Top 18 samples (6%) assayed ≥0.5 g/t Au with an average of 2.06 g/t Au and 33 g/t Ag. Top 46 samples (16%) assayed ≥0.2 g/t Au with an average of 1.00 g/t Au and 21 g/t Ag.

Top 73 samples (26%) assayed ≥0.1 g/t Au with an average of 0.68 g/t Au and 15 g/t Ag. For the 233 samples at or above the lower limit of detection, the average was 0.23 g/t Au and 6 g/t Ag. There were 53 samples (18%) that assayed less than 0.005 g/t Au, the lower limit of detection.

The surface sample results in this news release are from channel samples collected by Pacifica geologists and field technicians with sample locations recorded using hand-held Global Positioning System (GPS) receivers with an estimated precision of ±3.0 m.

Pacifica Silver is focused on its 100%-owned Claudia Silver-Gold Project in Durango, Mexico. Spanning 11,876 hectares, the project encompasses most of the historic El Papantón Mining District where at least nine small mines operated intermittently during the 20th century.

Since 1990, sampling and drilling within have returned high-grade silver and gold intercepts across multiple vein systems, with only 10% of over 30 km of known veins having been drilled. Today, the project is a prime target for modern exploration and holds exceptional potential for new high-grade discoveries.