Mithril Silver and Gold Defines Extensive High-Grade Gold-Silver System at Copalquin Project

Melbourne, Australia and Vancouver, Canada — July 7, 2025 — NewsWall — Mithril Silver and Gold Limited has defined an extensive high-grade gold-silver system spanning 8 kilometres and 1,200 metres vertically at its flagship Copalquin Project in Mexico. Drilling is set to commence at the Target 5 area, with Target 3 progressing for drilling late in Q3 2025.

New sampling has extended mineralization at Target 2 by a further 1,000 metres, underscoring the district’s significant discovery potential.

Drilling is slated to begin this month at Target 5, following strong gold and silver channel sample assays. Target 3 drilling is expected to commence late this quarter. The mineralized trend at Target 2 has been extended by 1,000m WSW with new sampling results. Sampling of the Santa Cruz historic multi-level mine has confirmed continuous mineralization spanning 8 km across the district with a 1,200 m vertical extent, with assays pending.

High-grade soil sampling results have been reported for Target 4 (San Manuel Mine), with first drill holes at the Zaragosa Mine area planned for this month. Highlight channel sample results from surface and underground workings at Targets 2, 3, 4, and 5 include:

• 0.50 m @ 6.21 g/t gold, 265 g/t silver (814502; Mina Lico, T2)
• 1.00 m @ 19.85 g/t gold, 270 g/t silver (527248; Mina Constancia, T3)
• 0.90 m @ 12.40 g/t gold, 820 g/t silver (527285; Surface, T3)
• 0.50 m @ 13.25 g/t gold, 558 g/t silver (814552; T3)
• 0.70 m @ 5.92 g/t gold, 392 g/t silver (814557; T3)
• 0.65 m @ 5.67 g/t gold, 365 g/t silver (814559; T3)
• 0.50 m @ 5.80 g/t gold, 1 g/t silver (814572; T3)
• 0.90 m @ 8.03 g/t gold, 108 g/t silver (814572; T3)
• 0.50 m @ 1.29 g/t gold, 252 g/t silver (814045; Surface T5)
• 0.50 m @ 3.07 g/t gold, 34.2 g/t silver (814053; Surface T5)

Target 4 soil sample highlights at the San Manuel mine area include SM-037 @ 4.10 g/t gold, 83 g/t silver; SM-083 @ 2.73 g/t gold, 102 g/t silver; SM-111 @ 5.66 g/t gold, 154 g/t silver; SM-112 @ 5.77 g/t gold, 139 g/t silver; SM-114 @ 4.13 g/t gold, 120 g/t silver; SM-124 @ 5.03 g/t gold, 237 g/t silver; and SM-127 @ 2.53 g/t gold, 20 g/t silver.

John Skeet, MD and CEO of Mithril Silver and Gold, noted the exciting exploration phase at Copalquin, emphasizing the impressive scale of the high-grade epithermal gold-silver system, which now extends 8 kilometers across the district and over 1,200 metres vertically.

About the Copalquin Gold Silver Project

The Copalquin mining district, located in Durango State, Mexico, spans 70km2 and features numerous historic gold and silver mines. It lies within the Sierra Madre Gold Silver Trend.

Multiple mineralization events and widespread alteration mark Copalquin as a major epithermal center for gold and silver.

Within 15 months of drilling, Mithril delivered a maiden JORC mineral resource estimate.

For further information, contact John Skeet, Managing Director and CEO, at jskeet@mithrilsilvergold.com or +61 435 766 809. Contact NIKLI COMMUNICATIONS, Corporate Communications, at liz@mithrilsilvergold.com or nicole@mithrilsilvergold.com.

Source: Mithril Silver and Gold