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Vancouver, BC – May 27, 2026 – Silver One Resources Inc. (TSX-V: SVE; OTCQB: SLVRF; FSE: BRK1) (“Silver One” or the “Company”) is pleased to announce the commencement of a significantly expanded reverse-circulation (“RC”) and potential diamond (“DDH”) drilling campaign at its 100%-owned Candelaria Silver Project in Nevada. The program, comprising up to 25,000 metres, marks the next phase of systematic resource growth and district-scale exploration following the Company’s earlier drilling and geophysical successes (See company’s news releases of August 16 and July 15, 2022, July 15 and May 26, 2021, and May 26, 2020).
Drilling is scheduled to begin at the end of May with the first RC rig, with a second rig mobilizing in mid-July to accelerate completion of the program.
The 2026 RC program is designed around three core objectives:
- Potential resource expansion
- Exploration of new targets including silver oxide and mixed silver oxide-sulphide mineralization and potential porphyry copper-silver-gold targets at depth
- Preliminary condemnation drilling to support infrastructure planning
Gregory Crowe, President and CEO commented: “This major drill program is designed to demonstrate the extensive property-wide potential of the Candelaria project as we advance toward our upcoming Pre-Feasibility Study (“PFS”). Building on our already substantial resource base—108 million ounces AgEq in the Measured and Indicated categories (103.2 Moz Ag and 203.6 koz Au) and 29 million ounces AgEq in the Inferred category (28.0 Moz Ag and 70.5 koz Au) ¹, this drilling program aims to better define the broader scale of the mineralized system. While not all results will form part of the PFS, the work will attempt to potentially expand the known resource, evaluate new targets across the district, and ensure we are planning future infrastructure with an informed technical basis. With two rigs active this summer and fall, we expect steady progress as we continue to unlock the full potential of this historic silver project.”
¹ AgEq = silver-equivalent ounces calculated using metal prices and recoveries outlined in the Candelaria Project NI 43-101 Technical Report (effective April 30, 2025). AgEq values are for comparative purposes only. Details of metal contents and AgEq formula are provided in the resource tables and technical notes in Tables 1 and 2 below.
Table 1 Above – Candelaria in-ground, underground, and stockpile mineral resource estimate. The mineral resource estimate has an Effective Date of April 30, 2025 and was prepared by James McCrea, P.Geo., an independent Qualified Person as defined under NI 43-101.
Table 2 Above. Candelaria Leach Pad mineral resources. The mineral resource has an Effective Date of August 6, 2020 and was prepared by James McCrea, P.Geo. who is an independent Qualified Person as defined by NI 43-101.
Mt Diablo, Northern Belle, Combined Mt Diablo & Northern Belle Pits, Underground Resource, Low-grade Stockpiles Notes:
† – This Mineral Resource Estimate for the near-surface material is based on material within an optimized engineered open pit shell that results from a US$27.50/oz silver price revenue factor. Tonnes and grade reported at $27.50/oz Ag and U$2,106/oz Au.
˧ – AgEQ(T) formula = Ag (T) + (Au (T) * recovery *67.73/0.8841). AgEq calculations done at US$27.50/oz Ag and US$2,106/oz Au
┬ – Underground resources tabulated using a 90 gpt Ag(T) cut-off below the $27.50 Pit and using a 70% mining recovery
Total Ag (AgT) and Au (AuT) mean total silver and gold assays (FA/Gravity) reported by the lab. It also means Calculated silver and gold values for historic samples collected by previous operators that were assayed for cyanide soluble silver or gold but not assayed for total gold and silver. Average total silver and gold for Mt. Diablo, Northern Belle and Underground resources in this table are derived from silver and gold assays in a database that consists of up to 80% of cyanide soluble silver and gold assays only. Approximately 20% of the assays in the database have both FA and or gravity total silver and gold values. The latter constitutes the basis for the generation of the Calculated silver and gold values using regression formulas developed by qualified Silver One professionals.
Contained oz Ag – using Total Ag (Ag_T) – factored silver
Contained oz Au – using Total Au (Au_T) – factored gold
Contained oz AgEq – using AgEq(T) factored gold – silver equivalent
Stockpiles will be mined in their entirety with no grade control or selectivity.
The mineral resource estimate was prepared by James McCrea, P.Geo. using 2014 CIM Definition Standards on Mineral Resources and Reserves and has an Effective date of April 30, 2025.
Resource numbers may not sum correctly due to rounding.
Candelaria Heaps Notes:
*- Contained Metal based on fire assay grades
˧ – AgEQ(T) formula = Ag (T) + (Au (T) * recovery *67.73/0.8841). Field Ag, Au recoveries were used in the calculation.
Prices for calculating contained silver equivalents are US$27.5 oz Ag and US$2,106 oz Au
LP1 cyanide leach estimated field silver and gold recoveries are 25% and 20%, respectively. KCA lab column leach tests Ag and Au recoveries are 29% and 21%respectively
LP2 cyanide leach estimated field silver and gold recoveries are 35% and 25%, respectively. KCA lab column leach tests Ag and Au recoveries are 40% and 27% respectively
Metal prices used for this resource estimate were US$1500/oz Au, US$20/oz Ag. Same prices were used for the processing scenarios related to reasonable prospects for eventual economic extraction
The leach pads mineral resource estimate was prepared by James McCrea, P.Geo. and has an Effective Date of August 6, 2020.
Resource Expansion Drilling
Building on the strong results and geological understanding developed through prior campaigns, the upcoming drilling is intended to:
- Extend the near-surface silver-oxide mineralization along strike from the historic Mount Diablo and Northern Belle open pits, where earlier programs confirmed continuity of mineralized horizons. (See company’s news releases of May 26, and May 26, 2020)…
Read Full Silver One Candelaria Report Here
For more information, please contact:
Silver One Resources Inc. Gary Lindsey – VP, Investor Relations Phone: 604-974-5274
Mobile: (720) 273-6224 Email: gary@strata-star.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Silver One’s control. Such factors include, among other things: risks and uncertainties relating to Silver One’s limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no obligation to publicly update or revise forward-looking information.
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