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THE PRINCE SILVER PROJECT

Location: Elephant Country, Nevada
Metals: Silver-Gold–Zinc–Lead-Manganese

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PROJECT SUMMARY

Past Producer with attractive near-term development potential.

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stampede gap and prince project map

Project Overview

  • The current historic and internal block model suggests an Exploration Target* of 25-43Mt @ 1.44-1.57% Zn, 0.78-0.87% Pb, 37-40 g/t Ag, 0.28-0.4 g/t Au, 3.62-4.3% Mn; (OmniGeoX Exploration Consultants, April 2024)

  • Using mid-points values**, this Exploration Target with infill drilling, present potential for over 100Moz AgEq

  • Mineralization is open in all directions of modelled mineralized horizons

  • Near surface, open pit potential
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*The Exploration Target is not an “inferred”, “indicated” or “measured” mineral resource compliant with National Instrument 43-101 (“NI 43-101”). The potential quantity and grade of the Exploration Target is conceptual in nature.  It is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource.

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Historic Mine Area

  • Polymetallic carbonate replacement deposit (CRD) and sediment-hosted gold targets at Prince

  • Attractive near-term development potential.

  • Historic mining in the Highland Mining District of high-grade, polymetallic (Zn-Ag-Pb-Au) CRD was ~6.7Mt @ 6.8% Zn, 135g/t Ag (4.3oz/t), 2.9% Pb, 0.7g/t Au (15.9% ZnEq*).

  • Prince Mine: Historic mining of 1.12Mt @ 4.5% Zn, 100g/t Ag, 2.8% Pb, 0.5g.t Au (11.1% ZnEq*) predominantly mined underground; exploited from sulphide replacements in limestone and oxidised Mn-bearing ore.

  • Historic drilling shows replacement mineralization occurs over a vertical range of 550m from surface, a width up to 500m over a 2.4km strike length in multiple parallel lodes;

  • Mineralization is open in all directions.

  • Amenable to open pit mining.

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historic mine area prince silver

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Drilling Results & Exploration Target: Silver

Drilling Results & Exploration Target

  • Exploration Target Estimate (2024) by OmniGeoX:

    • 25 – 42 Mt @ 1.44 – 1.57% Zn, 0.78 – 0.87% Pb, 37 – 40g/t Ag, 0.28 – 0.4g/t Au, 3.62 – 4.3% Mn (+1.5% ZnEq* intersections);

  • Based 129 historical drill holes (16,607m total)

  • Mineralization open all directions; extensions to be drill tested

  • More recent (2014) drilling shows remnant high grade veins within widespread sediment-hosted gold in the Pioche Shale*:

    • 40.8m @ 0.63g/t Au, 65g/t Ag, 1.64% Zn, 3.51% Pb from 26m (UDH-55)

    • 24.4m @ 0.47g/t Au, 80g/t Ag, 1.64% Zn, 3.52% Pb from 87m (PRC-11)

    • 3.1m @ 9.5g/t Au, 47g/t Ag, 1.65% Pb, 0.29% Zn from 175m (PRC-25)

    • 2.4m @ 11.1g/t Au, 377g/t Ag, 26.1% Zn, 4.3% Pb from 14m (UDH-53)

  • Pioche Shale was not assayed in earlier drilling presenting additional potential resources

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Drilling Results & Exploration Target

  • Scout drilling also shows sediment-hosted gold in Pioche Shale:

    • 61m @ 2.1g/t Au, 38g/t Ag from 69m (CDH-36)

    • 41m @ 0.7g/t Au, 68g/t Ag, 3.3% Zn, 0.61% Pb from 26m (UDH-55)

    • 71m @ 1.4g/t Au, 51g/t Ag, from 192m (PRC #10)

  • Significant Mn by-product being assessed for commercial production

  • Potential to be included in FAST-41 process, like South32’s Hermosa Clarke deposit adjacent to the large Taylor deposit

  • Prince is “low-hanging fruit” for initial drill results with known economic mineralization and next step conversion to a NI43-101 compliant resource

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*The Exploration Target is not an “inferred”, “indicated” or “measured” mineral resource compliant with National Instrument 43-101 (“NI 43-101”). The potential quantity and grade of the Exploration Target is conceptual in nature.  It is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource.  * Quoted intersections are historical where holes drilled prior to 2014 lack QAQC data. Holes drilled in 2014 and younger followed QAQC procedures and were analysed at IOS certified laboratories, Skyline Laboratories in Tucson Arizona and Pinnacle Labs in Winnemucca, Nevada.

Drilling Results & Exploration Target: Gold

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 Silver & Gold

600SE section - with open areas

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600SE Section - With Open Areas

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*Quoted intersections are historical where holes drilled prior to 2014, all underground holes, lack QAQC data. Holes drilled in 2014 and younger followed QAQC procedures and were analysed at IOS certified laboratories, Skyline Laboratories in Tucson Arizona and Pinnacle Labs in Winnemucca, Nevada.​

Technical Report

*Non-Compliant Report​

*The Exploration Target is not an “inferred”, “indicated” or “measured” mineral resource compliant with National Instrument 43-101 (“NI 43-101”). The potential quantity and grade of the Exploration Target is conceptual in nature.  It is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource.  *Quoted intersections are historical where holes drilled prior to 2014 lack QAQC data. Holes drilled in 2014 and younger followed QAQC procedures and were analysed at IOS certified laboratories, Skyline Laboratories in Tucson Arizona and Pinnacle Labs in Winnemucca Nevada.

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