Outcrop Silver Reports High-Grade Assays at Morena and Confirms Continuity at Aguilar Ahead of September MRE Update

• Hole DH613 at Morena intersected 0.71 metres grading 1,646 g/t silver and 10.35 g/t gold, equivalent to 2,559 g/t silver equivalent (AgEq), including a higher-grade section of 4,403 g/t AgEq over 0.41 metres
• Hole DH601 at Morena returned 1.74 metres grading 646 g/t AgEq, including two shorter sections above 1,500 g/t AgEq
• Hole DH631 in the Aguilar N structure intersected 0.30 metres grading 2,033 g/t AgEq
• Nine of twelve holes drilled in the Aguilar northern sector returned mineralized intervals across the principal Aguilar and Aguilar N structures
• Results from both targets are being incorporated into the geological model supporting the Company's mineral resource estimate update, expected in September 2026

Outcrop Silver & Gold Corporation (TSX: OCG, OTCQX: OCGSF, FSE: MRG) is a Canada-based exploration and development company advancing its Santa Ana silver-gold project in Colombia. The Company is working to expand the mineral resource base at Santa Ana through exploration while advancing the project towards production. Its operations include a focus on responsible mining practices and community engagement in the areas where it works.

High-Grade Intercepts at Morena Target Including 2,559 g/t AgEq Over 0.71m Confirming Sixth Discovery at Santa Ana

Morena was identified as a discovery in July 2025, the sixth high-grade zone confirmed within the Santa Ana district. Since that discovery, Outcrop Silver has drilled 14 additional holes at the target. The most notable result, from hole DH613, returned 0.71 metres grading 1,646 g/t silver and 10.35 g/t gold, a combined 2,559 g/t AgEq, including a narrower section of 0.41 metres grading 4,403 g/t AgEq.

A second hole, DH601, intersected a wider zone of 1.74 metres grading 646 g/t AgEq, including two internal sections grading above 1,500 g/t AgEq. Of the 14 holes drilled since the discovery, six intersected mineralized intervals within the Morena structure. The remaining eight returned grades below the Company's 100 g/t AgEq mineralization threshold, which Outcrop Silver states still confirm the structural continuity of Morena and provide additional data on its extension and geometry. This pattern is consistent with the discontinuous, shoot-controlled style of mineralization observed elsewhere in the district, where higher grades occur in discrete pockets along a longer structural trend.

Morena is smaller in scale than the 1.6 km long Aguilar structure. 

Vice President of Exploration Carlos Torres said:

"Morena remains a smaller structure relative to the 1.6 km long Aguilar structure, but the results obtained over the past year, including these latest high-grade intercepts, support its inclusion as an additional contributor to our upcoming mineral resource estimate."

Aguilar Northern Sector Drilling Confirming Continuity Across Principal Aguilar and Aguilar N Structures

Twelve holes were drilled in the northern sector of Aguilar, testing the principal Aguilar structure along with the Aguilar N, splay, Aguilar NEE, and Aguilar NEW structures first reported in June 2026. Nine of the twelve holes intersected mineralized intervals. The strongest result came from hole DH631, which graded 2,033 g/t AgEq over 0.30 metres within the Aguilar N structure. A further intercept within the principal Aguilar structure, from hole DH628, returned 229 g/t AgEq over 2.21 metres, including a higher-grade section of 1,034 g/t AgEq over 0.30 metres.

These results are consistent with the structural configuration previously interpreted for the system and confirm continuity of mineralization within the principal Aguilar and Aguilar N structures along the northern sector. The Aguilar NEE and Aguilar NEW structures, identified for the first time in the June 2026 release, returned predominantly weakly mineralized results in this phase of drilling. The Company states these intercepts provide structural and geometric information that will be incorporated into its ongoing interpretation of these structures.

Carlos Torres said:

"At the Aguilar target, drilling in the northern sector continues to confirm and extend the structures identified in our June 2026 release, while results from the southern extension are prompting us to refine our geological interpretation of that portion of the system."

September 2026 MRE Update Incorporating Morena as Additional Contributing Target

Outcrop Silver's current drilling campaign has confirmed mineralization across six vein systems within the Santa Ana district: Aguilar, Jimenez, La Ye, Los Mangos, Guadual, and Morena. Results from these programs are being incorporated into updated geological interpretations and three-dimensional models that will support the Company's next mineral resource estimate, expected in September 2026.

Morena was not part of Santa Ana's maiden resource estimate, published in 2023, which covered seven vein systems and estimated 24.2 million ounces of silver equivalent in the indicated category and 13.5 million ounces in the inferred category, at grades of 614 g/t and 435 g/t respectively. Its inclusion in the September update would mark the first time Morena contributes to the Company's stated resource base.

Santa Ana spans more than 28,000 hectares in Colombia's Mariquita District, with mining records dating back to 1585 and recognized as the country's largest and highest-grade primary silver district. The current drill campaign covers a 17-kilometre-long, fully permitted mineralized corridor within the project.

Milestones and Next Steps

Outcrop Silver's next milestone is the release of its updated mineral resource estimate, expected in September 2026, which will incorporate results from Morena and the Aguilar northern sector. Further drilling results are expected from the southern extension of Aguilar, where the Company's technical team is refining its geological interpretation of that portion of the system.

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