Outcrop Silver's Guadual Target Delivers Consistent High-Grade Results Ahead of Resource Update

• Hole DH567 intersected 0.84 metres true width at 2,844 g/t silver equivalent (AgEq), comprising 2,505 g/t silver and 3.84 g/t gold
• Hole DH593 returned 1.17 metres true width at 1,889 g/t AgEq, consistent with mineralisation within an interpreted plunging zone of the Guadual vein system
• Hole DH587 delivered a broader 6.85-metre interval at 227 g/t AgEq, comprising 167 g/t silver and 0.68 g/t gold
• A combination of step-out and infill drilling confirms continuity of the principal vein structure and further defines the geometry of mineralised shoots at Guadual
• Updated drill results are expected to be incorporated into a revised Mineral Resource estimate anticipated before the end of the current quarter

Outcrop Silver & Gold Corporation (TSX: OCG | OTCQX: OCGSF | FSE: MRG) is a Canada-based exploration and development company advancing its 100%-owned Santa Ana project in the Mariquita District of Colombia. The project spans more than 28,000 hectares and is recognised as the largest and highest-grade primary silver district in the country, with documented mining activity stretching back to 1585. The company is focused on expanding its mineral resource base through systematic exploration, with a team experienced in Colombian mining operations.

High-Grade Drilling Results Confirming Mineralisation Continuity at Guadual

Outcrop Silver released additional drill results from the Guadual target on 30 April 2026, from a programme designed to test and expand a mineralised zone interpreted to plunge at approximately 45 degrees. The current results build on previously reported drilling that established the continuity of the system, first reported in September 2025. Drilling at Guadual has consisted of both step-out holes, which test the boundaries of a known mineralised zone, and infill holes, which fill gaps between existing drill sections to improve confidence in the interpretation.

Among the reported holes, DH567 returned 0.84 metres estimated true width (ETW) at 2,844 g/t AgEq, which includes 2,505 g/t silver and 3.84 g/t gold. ETW refers to the actual thickness of the vein, adjusted to remove distortion caused by the angle at which the drill intersected it. Silver equivalent (AgEq) is a standard reporting measure that converts gold content into a silver value using prevailing metal prices, allowing total metal content to be expressed on a single scale. Metal prices applied were US$32/oz for silver and US$2,760/oz for gold, with metallurgical recoveries of 96.3% for silver and 98.5% for gold based on the company's 2024 test work.

DH593 added further results with 1.17 metres ETW at 1,889 g/t AgEq, while DH587 returned a wider section at 6.85 metres ETW at 227 g/t AgEq. The company noted that vein intercepts returned consistent grades and widths across multiple drill holes, supporting the interpretation of high-grade continuity within the plunging zone.

Mineralised Shoot Geometry Definition and Structural Understanding

A stated objective of the current drilling programme at Guadual is to define the geometry of mineralised shoots within the vein system. A shoot refers to an elongated concentration of higher-grade mineralisation within a broader vein. The results in this release, drawn from step-out and infill drilling, are contributing to the company's understanding of the orientation and extent of these shoots.

The company reported that ongoing drilling and geological modelling are improving the definition of vein geometry, including the orientation and extent of mineralised shoots, and that these results are being incorporated into geological interpretation and resource modelling work, subject to validation and estimation parameters.

President and CEO Rob Bruggeman said:

"The latest drill results from Guadual continue to demonstrate the consistency and continuity of mineralization within one of our key target areas at Santa Ana." 

He added:

"Drilling is improving our understanding of the geometry of mineralized shoots, including a zone with a consistent plunge, and further strengthening the geological model that supports ongoing resource definition at the project."

Resource Definition Progress and Geological Modelling

The Santa Ana project holds a maiden Mineral Resource estimate, published in June 2023, which outlined an indicated resource of 24.2 million ounces of silver equivalent at 614 g/t across seven major vein systems, and an inferred resource of 13.5 million ounces at 435 g/t. The current drill campaign has since confirmed mineralisation in six additional vein systems, including Guadual, through step-out, testing, and delineation drilling. Results from these programmes are being incorporated into updated geological interpretations and three-dimensional models.

The latest Guadual results are also contributing to the refinement of the company's structural and geological model, including the definition of mineralised domains and their spatial relationships within the vein system. The company noted that the consistency of grades and widths observed supports the interpretation of a coherent mineralised system and provides additional support for the continuity of mineralised shoots at depth.

The Santa Ana project sits within a 17-kilometre-long fully permitted mineralised corridor in the Mariquita District. Since the start of the current campaign, drilling has confirmed mineralisation in the Aguilar, Jimenez, La Ye, Los Mangos, Guadual, and Morena vein systems.

Outlook

Outcrop Silver expects to incorporate the latest Guadual results, alongside those from other vein systems drilled during the current campaign, into a revised Mineral Resource estimate before the close of Q2 2026. This will be the first formal resource update since the maiden estimate published in 2023. Ongoing drilling and geological modelling at the Santa Ana project are expected to continue supporting the preparation of that estimate.

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