Silver47 Exploration plans 10,000-metre drill program at Red Mountain Silver and Critical Minerals Project, Alaska

Silver47 Exploration Corp. [TSXV: AGA; OTCQX: AAGAF] reported that its fully funded, 2026 summer drill program has commenced across the high-grade silver and critical minerals Red Mountain Project, Alaska.

Highlights – Drilling Underway: A core drilling rig is now fully operational at Red Mountain, actively advancing the first hole of the 2026 summer exploration program. All three drill rigs are expected to be active at the end of the month.

Targeting Resource Growth at Dry Creek: The program will focus on expanding the inferred 168.6 million silver equivalent ounce resource (336 g/t AgEq), while systematically increasing tonnage at the Dry Creek deposit.

Discovery Drilling at District-Scale Targets: Drilling will test numerous largely undrilled polymetallic massive sulfide occurrences across the 60 km prospective trend where expert multi-faceted data analysis indicates the highest degree of prospectivity.

U.S. Silver & Critical Mineral Focus: The summer drill program at Red Mountain will target U.S. silver and critical minerals, positioning the project as a strategic American source of high-demand materials.

Fully Funded: The company holds approximately C$48 million in working capital, providing a strong financial position to execute the planned program.

Galen McNamara, CEO, stated: “With three rigs and 10,000 metres of drilling planned, this marks the largest exploration program ever undertaken at Red Mountain. The program is designed to both expand the existing resource and systematically evaluate several high-priority targets that have seen limited or no previous drilling.

“Red Mountain continues to demonstrate the characteristics of a large-scale, silver-rich mineralizing system, and we believe this campaign has the potential to significantly enhance the project’s value through resource growth and the discovery of additional massive sulphide mineralization along the 60-kilometre prospective trend.”

The 2026 exploration drill program at the Red Mountain Project, 60 miles south of Fairbanks, Alaska will consist of at least 10,000 metres of core drilling focused on deposit expansion and discovery.

Priority volcanogenic massive sulfide (VMS) exploration targets at Red Mountain are dispersed across the highly prospective Bonnifield mining district which comprises at least 60 km of stratigraphy considered favorable for VMS mineralization.

Drill program objectives include further delineation and expansion of the Dry Creek deposit (inferred mineral resource of 11.6 million tonnes at 279.4 g/t AgEq, totaling 104.0 million silver equivalent ounces through a series of infill and step-out holes down-dip, approximately 3,000 metres, designed to investigate the orientation and structural controls on higher-grade VMS mineralization (e.g., 22.3 m at 601 g/t AgEq (150.6 g/t Ag, 0.82 g/t Au, 5.86% Zn, 2.60% Pb, 0.13% Cu) in DC24-105). Drilling will also evaluate the down-dip and strike extents of these higher-grade zones where mineralization remains open.

New discovery by evaluating the high-grade mineralization potential of numerous VMS targets identified across the Dry Creek Syncline and Last Chance corridor. Of the known exploration targets, only 11 targets have been drill-tested, five of those with less than three holes each. Based on these limited historical drill data together with results from recent project-wide geochemical sampling (rocks, soil and talus-fines) numerous high-priority targets have been identified (e.g., Sheep Creek, Hunter, Glacier, FOMO and WTF E).

Target refinement and new target identification through project-wide exploration activities including geological mapping, grid-based soil geochemical surveys and project-wide heli-borne hyperspectral surveying.

Silver47 Exploration focused on uncovering and developing silver-rich deposits in North America. The company is creating a leading high-grade US-focused silver developer with a combined resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz at 333 g/t AgEq Indicated. With operations in Alaska, Nevada and New Mexico, Silver47 Exploration is anchored in America’s most prolific mining jurisdictions.