The Silver Letter

Kapa Gold Announces Closing of Second and Final Tranche of Private Placement

(TSXV:KAPA) KAPA GOLD INC. announced the closing of the second and final tranche of its non-brokered private placement, issuing 5,683,666 units at a price of $0.15 per Unit for total gross proceeds of approximately CAD$854,550. This brings the total number of Units issued under the Offering to 18,578,665 for aggregate gross proceeds of CAD$2,786,800. Each Unit consists of one common share and one transferable common share purchase warrant, with each Warrant exercisable at $0.25 for a period of 24 months from the closing date. The Company may accelerate the expiry date of the Warrants if the closing price of its Shares on the TSX Venture Exchange equals or exceeds $0.30 for 20 consecutive trading days. Kapa paid aggregate finders fees of $161,055 in cash and issued 1,073,700 finder warrants to six counterparties. David Paxton, CEO of Kapa Gold, acquired 300,000 Units under the Offering, with no material change in his percentage ownership. The proceeds will be used for the Company's next drill program at its 100% owned Blackhawk Gold property, Lucerne Valley, California, and for general working capital requirements.

Thistle Resources Uncovers High Grade Stibnite in New 2026 Trench Program at Its Brunswick Antimony Project

(TSXV: TRCG) (OTCQB: TRCGF) Thistle Resources Inc. announced it has initiated its 2026 Antimony Trenching program at its flagship Brunswick Antimony Project in the World-Famous Bathurst Mining Camp, NB, Canada. Ten samples were collected along the edge of Trench area #1 at approximately UTM coordinates 288890E / 5259810N (Zone 20), representing various styles of antimony mineralization. XRF sample results for Sb ranged from 4.76% to 23.04%, with the highest value in sample TRCG-Sb-003. Previous certified assays returned up to 2.32 g/t Au and 1,300 g/t Ag. The samples have been shipped to ALS Global in Moncton for preparation and certified analysis. The company confirms that Jemini Capital and the Company are arm's-length parties, and certain principals of Jemini Capital hold common shares of the Company. The company projects exploration planned across both flagships in 2026 and targets to define more than 2,000,000 ounces of gold at the Middle River Gold Project.

Orestone Advances Exploration at Tom East and Kelly Gold Zones on the Francisca Gold Silver Property in Salta Province Argentina

(TSXV: ORS) Orestone Mining Corp. announced that follow-up exploration is underway at the recently discovered Tom East and Kelly gold zones along the Francisca Gold Trend. The Francisca Gold-Silver Project covers 23 square kilometres and is located in Salta Province, northwestern Argentina, approximately 80 kilometres northwest of the city of Salta. The Francisca Gold Trend now covers a northwest strike length of 1500 metres, with a 1700 metre long by 500 to 700 meter wide induced polarization (IP) chargeability anomaly of 7.9 mV/V. During the recent Phase I exploration program, hand trench sampling at Tom East yielded 4.45 g/t gold over 21 metres in Trench 6B. At the Kelly Gold Zone, mapping and sampling defined a 50 metre wide quartz-limonite vein stockwork zone grading 0.37 g/t gold and 2.15 g/t silver. The Captain Gold-Copper Project in British Columbia, Canada is 100 percent owned by the company and is permitted for 79 drill locations. The company projects that its near-term objective on the Francisca Gold Project is to define an oxide gold deposit mineable by open pit methods.

Patagonia Gold Corp. Announces Passing of Former Chairman Carlos J. Miguens

(TSXV: PGDC) Patagonia Gold Corp. announced the passing of Mr. Carlos J. Miguens, former Chairman of the Company, on July 18, 2026. Mr. Miguens served as Chairman from July 2019, when the Company's shares first started trading on the TSX Venture Exchange, to October 2022. His support was instrumental in advancing the development of the flagship Calcatreu Project in Rio Negro Province, Argentina, and the Company's portfolio of gold and silver assets in Argentina. The Miguens family has confirmed its commitment to remain a long-term shareholder and to continue supporting the responsible development of mining in Argentina through Patagonia Gold's portfolio of projects. Patagonia Gold Corp. is a South America focused, publicly traded, mining company listed on the TSX Venture Exchange, primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. The Company has mineral rights to over 375 properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina. The company projects the advancement and development of gold and silver projects in the Patagonia region of Argentina and the anticipated growth in shareholder value.

Mexican Gold Mining Corp. and Alcon Silver Corp. Complete Arrangement to Create Platauro Metals Corp., a Diversified Precious Metals Exploration Company

(TSXV: PURO) Platauro Metals Corp. announced the successful completion of its plan of arrangement, acquiring all issued and outstanding common shares of Alcon Silver Corp. in exchange for Platauro shares, resulting in former Alcon shareholders holding approximately 53% of Platauro on a non-diluted basis. A total of 40,797,830 Consideration Shares were issued to Alcon shareholders at a deemed price of approximately $0.27 per share, for aggregate deemed consideration of approximately $10,879,640. The company completed a consolidation of its outstanding common shares on a 1.6667-for-one basis and changed its name from "Mexican Gold Mining Corp." to "Platauro Metals Corp.". Platauro also completed a non-brokered private placement of 11,495,000 subscription receipts at a price of $0.20 per Subscription Receipt for aggregate gross proceeds of $2,299,000. Each Warrant issued in the financing entitles the holder to acquire one common share at an exercise price of $0.30 per share for a period of thirty (30) months following the closing date. The net proceeds of the Concurrent Financing will be used for exploration of the Princesa project, exploration of the Rowdy claim at Tatatila, legal fees associated with the Las Minas claims dispute, and for general corporate and working capital purposes. The company projects growth, development and exploration activities at the Las Minas and Princesa projects.

Toogood Gold Expands Table Mountain Project to 1,902 Hectares Along Priority Structural Corridors

(TSXV: TGC) (OTCQB: TGGCF) Toogood Gold Corp. announced the staking of 44 additional Bureau of Land Management ("BLM") lode claims at its Table Mountain Gold-Silver Project in Lincoln County, Nevada. This expansion increases Table Mountain to 228 claims totalling approximately 1,902 hectares. The newly staked claims cover approximately 368 hectares and secure more than 10 kilometres of cumulative interpreted strike length along the Widowmaker Trend and a subparallel structural corridor. Reconnaissance soil geochemistry has been completed across the new claims, with 166 samples collected. Phase 2 exploration is set to commence in July, including approximately 20 line-kilometres of controlled-source audio-frequency magnetotellurics ("CSAMT") and targeted follow-up prospecting, rock sampling, and geological mapping. Toogood Gold Corp. has an option to earn a 100% interest in both the Table Mountain Project in Nevada and the Toogood Gold Project in Newfoundland, with the latter covering a 164 km² land package. Colin Smith, CEO and Director, has reviewed and approved the technical information in this release.

Barksdale Continues to Delineate the Copper Porphyry System at Sunnyside, and Provides a Drilling and Results Update - Connecting the Upper and Lower Porphyry

(TSXV: BRO) (OTCQB: BRKCF) Barksdale Resources Corp. provided an update on its 2026 reverse circulation drill program and exploration at the Sunnyside copper-gold-silver project in the Patagonia Mountains of Southern Arizona. The company is currently drilling SUN26-023R and is less than 1,500 feet from completing the 25,000 feet footage requirement to increase ownership of the Sunnyside Project to 67.5%. Assay results from an additional 10 holes of the 2026 program were received, with highlights including 0.3% Cu over 77.7 m from 187.5 m hole depth in SUN26-013R and 2.0 g/t Ag over 182.88 m from 5 m hole depth in SUN26-007R. Upon completion of the program, Barksdale will issue 4.9 million common shares and a cash payment of C$550,000 to Great Basin Metals. The company expects to finish the program by the end of July and plans to release a preliminary AI-generated target model in early August. A 15,420-metre diamond drill program is planned for Fall 2026, designed to complete sixteen 920-metre holes. The company intends to integrate all geological datasets to refine drill targets and may conduct new geophysical surveys as recommended by consultants.

Sunrise Resources: New Copper-Silver-Gold Project, Nevada

(LSE: SRES) Sunrise Resources Plc announced it has established a new copper-silver-gold project in Nevada, USA, named the Lake Copper-Silver-Gold Project, after securing a lease & option to purchase agreement over a mining claim and staking a further ten adjacent mining claims. Drill intersections include 50m grading 0.73% copper, 31g/t silver and 0.2g/t gold from surface, with company surface samples assaying up to 198g/t silver, 0.13% copper and 0.3g/t gold. The project is located at the south-west end of the Humboldt Range, 98km east-northeast of Reno, with access from Interstate Highway I-80 and Highway 95. The lease/option agreement includes a 7-year term (extendable to 21 years), a nominal payment of US$100 on signing, annual payments starting at US$5,000 and rising to $20,000, a 2% NSR royalty (buyable for US$500,000), and an option to purchase the claim for $150,000. Fourteen shallow holes (mainly <100m deep, max 150m) were drilled in the claim area by Utah International in the 1980s, with significant intersections including hole MH-4. The company is targeting an intrusion related copper-precious metals deposit and plans next steps including geophysical surveying and follow up drilling as resources allow. Management states that the path forward for this project is clear with the next steps already defined.

Sky Metals Reports New High-Grade Intercepts at Tallebung Tin-Tungsten-Silver Project

(ASX: SKY) Sky Metals received new high-grade intercepts from drilling at its Tallebung tin-silver-tungsten project in New South Wales, demonstrating potential to further expand a recently updated mineral resource estimate (MRE). The July update increased the project’s inventory to 32.7 million tonnes at 0.16% tin equivalent for 36,800 tonnes of contained tin, 1.14 million metric tonne units of contained tungsten trioxide, and 9.94 million ounces of contained silver. The project’s resource now contains 58% more tin, 126% more tin in Measured and Indicated resources, 163% more tungsten, and includes a maiden 9.94Moz silver resource. Drilling returned best assays of 29 metres at 0.31% tin and 0.04% tungsten from 27m, including 2m at 1.62% tin, 0.08% tungsten and 47.8g/t silver from 59m, and 1m at 4.32% tungsten and 0.08% tin from 66m. Additional results include 9m at 0.54% tin, 0.11% tungsten, and 205g/t silver from 67m, and 14m at 0.58% tin and 0.04% tungsten from 1m. The company projects that a Tallebung pre-feasibility study remains on track for completion later this month, which is regarded as “a major milestone in advancing Tallebung toward development”.

AbraSilver Intersects 109 Metres of 221 G/t Silver and 0.72 G/t Gold at Oculto West, Including 14 Metres of 580 G/t Silver

(TSX: ABRA) (OTCQX: ABBRF) AbraSilver Resource Corp. reported new assay results from its ongoing Phase VI drill program at the wholly-owned Diablillos project in Argentina. Hole DDH 26-036 intersected 109.0 metres grading 221.2 g/t silver and 0.72 g/t gold from 114.0 m downhole at Oculto West, including a higher-grade interval of 14.0 m at 580 g/t silver and 0.23 g/t gold. The same hole also encountered 7.6 m of 0.73% copper from 240.5 m and 15.0 m of 0.54% copper from 269.0 m beneath the oxide zone. Hole DDH 26-022 along the JAC-Oculto trend intersected 63.0 m grading 32.8 g/t silver from 60.0 m, including 11.0 m of 101.4 g/t silver. The most recent tank and heap leach Mineral Resource estimate for Diablillos, as of April 30, 2026, shows Measured & Indicated Oxides of 231,981,000 tonnes grading 33 g/t silver and 0.34 g/t gold, containing 248,053,000 oz silver and 2,542,000 oz gold. Following completion of the DFS in June 2026, the Project hosts Proven and Probable Mineral Reserves of 77.9 Mt grading 146 g/t silver equivalent, containing 184 Moz of silver and 1.8 Moz of gold (366 Moz AgEq). The company projects that these results will support expansion of the precious metals Mineral Resources in the oxide zone and will be incorporated into an updated Mineral Resource estimate.

First Majestic Enters Into Definitive Agreement to Sell Its San Martin Silver Mine for Total Proceeds of US$90 Million

(NYSE: AG) (TSX: AG) First Majestic Silver Corp. has entered into a definitive agreement dated July 6, 2026 to sell its 100%-owned past producing San Martin Silver Mine in Jalisco State, Mexico, to Flextronics Supply and Service, S. de R.L. de C.V for total cash consideration of US$90 million. The transaction includes upfront consideration of US$2.5 million payable upon closing (with US$500,000 already deposited into escrow), and an additional US$87.5 million in future payments. The acquisition also includes the Jalisco Group of Properties, consisting of 5,245 hectares of mining concessions owned by El Pilon, located in the municipalities of Etzatlán and Tototlán, Jalisco. Flextronics will acquire all of the issued and outstanding shares of Minera El Pilon, S.A. de C.V., a wholly-owned subsidiary of First Majestic. The San Martin Silver Mine was placed under care and maintenance by First Majestic in July 2019. First Majestic presently owns and operates four producing underground mines in Mexico and a portfolio of development and exploration assets, including the Jerritt Canyon Gold project in northeastern Nevada, U.S.A. The company anticipates that the transaction will close in the fourth quarter of 2026, subject to customary closing conditions and Mexican Antitrust approval.

J2 Metals Mobilizes UAV Drone Mag Survey at Sierra Plata Silver-Gold-Antimony Project, Zacualpan-Taxco District, Mexico

(TSXV: JTWO) (OTCQB: JTWOF) — J2 Metals Inc. announced that crews have been mobilized to complete a high-resolution unmanned aerial vehicle (UAV) drone magnetometer geophysical survey across its Sierra Plata silver-gold-antimony project in the Zacualpan-Taxco district of Guerrero State, Mexico. The survey will cover approximately 1,885 hectares of the Sierra Plata Project area for a total of 562 line-kilometres, including tie lines, with line spacing of 50 metres and tie-line spacing of 500 metres. The airborne magnetic survey will be carried out by JM Geoconsultores of Querétaro, Mexico, and will officially commence field activities July 8, 2026. Recent sampling of waste dumps at Sierra Plata returned grades of up to 3,932 g/t AgEq across five past-producing silver-gold mines. At the Miniac Project in Québec's Abitibi Greenstone Belt, a newly completed 41-kilometre OreVision™ IP survey has identified prospective anomalies, supporting a planned Phase II drill program of up to 5,000 metres across a 7-kilometre conductive horizon. At the Napoleon Project in Alaska, rock-chip samples have returned up to 596 g/t gold, with historical drilling by Teck and Kennecott reporting intercepts of 8.9 g/t gold over 3 metres and 0.9 g/t gold over 79 metres. The company anticipates identifying a large number of high-priority targets for drill evaluation.

Aya Gold & Silver Reports Record Q2-2026 Silver Production

(TSX: AYA; NASDAQ: AYA) Aya Gold & Silver Inc. announced record consolidated production of 1.68 million silver equivalent ounces (Moz AgEq) for the three-month period ended June 30, 2026, up 61% year-over-year and 12% quarter-over-quarter. The Zgounder Silver Mine produced 1.49 Moz Ag in Q2-2026, representing a 43% increase YoY and 18% QoQ, with a record processing rate averaging 3,889 tonnes per day and a record mining rate averaging 4,880 tpd. Silver recovery averaged 91.2% during the quarter, and mill availability remained strong at 97%. The Boumadine pyrite reclaim operation contributed 0.19 Moz AgEq, with 17,153 tonnes processed at average grades of 179 g/t Ag and 2.43 g/t Au. The stockpile at Zgounder increased by 33% QoQ to 373,884 tonnes, aligning with the company's objective of building a three-month inventory. The construction of the second phase of the tailings storage facility is expected to be completed in early Q3-2026, as planned. The company projects that the introduction of bulk shipping at Boumadine, alongside ongoing containerized shipments, is expected to significantly increase pyrite shipping capacity in H2-2026.

How the Jobs Report Moves Gold and Silver: The Five-Step Chain Behind Every Move

Gold prices are significantly influenced by the U.S. jobs report, with a clear pattern emerging based on whether payrolls meet or miss expectations. When the jobs report falls short, we typically see a rise in gold and silver prices, reflecting increased demand for safe-haven assets amid economic uncertainty. Conversely, when payrolls exceed expectations, gold prices tend to decline as investor confidence in the economy strengthens, leading to a shift towards riskier assets. This dynamic underscores the importance of labor market data in shaping market sentiment and influencing gold's appeal. Investors should be acutely aware of this relationship, as it can lead to swift price movements in response to the monthly jobs report. The five-step chain that connects employment data to gold prices highlights the intricate interplay between economic indicators and market reactions. As we navigate through these reports, the implications for inflation and interest rates also come into play, further complicating the outlook for gold. Central banks may adjust their policies based on labor market strength, which can either bolster or undermine gold's value. Therefore, understanding the jobs report's impact is crucial for positioning in the gold market, especially in a landscape where macroeconomic factors are in constant flux.

Tudor Gold Discovers Higher-Grade Silver Breccia Within CBS Zone at Treaty Creek

(TSXV: TUD) Tudor Gold Corp. reported results from the first two drillholes (CBS-26-08 and 09) completed at the CBS Zone as part of the 2026 Exploration Drill Program at its 80%-owned Treaty Creek Project, located in the heart of the Golden Triangle of Northwestern British Columbia. Drill hole CBS-26-08 intersected 61.28 g/t silver and 0.09 g/t gold over 34.15 m starting 264.00 meters downhole, including 201.84 g/t silver and 0.07 g/t gold over 7.20 m starting 280.00 meters downhole. Hole CBS-26-08 also intersected 2.57 g/t gold and 0.39 g/t silver over 3.00 m starting 6.00 meters downhole, and 0.53 g/t gold and 9.81 g/t silver over 20.60 m starting 61.90 meters downhole, including 0.92 g/t gold and 16.99 g/t silver over 9.30 m starting 73.20 meters downhole. Hole CBS-26-09 intersected 0.79 g/t gold and 4.71 g/t silver over 47.00 m starting 153.00 meters downhole, including 1.04 g/t gold and 1.49 g/t silver over 24.50 m starting 153.00 meters downhole. The Treaty Creek Goldstorm Deposit hosts Indicated Mineral Resources of 24.9 million ounces of gold, 148.7 million ounces of silver and 3.048 billion pounds of copper (912.3 million tonnes grading 0.85 g/t gold, 5.07 g/t silver and 0.15% copper) and Inferred Mineral Resources of 2.6 million ounces of gold, 7.2 million ounces of silver and 67.9 million pounds of copper (21.8 million tonnes grading 3.64 g/t gold, 10.22 g/t silver and 0.14% copper). The company has filed a permit application for approval to construct an underground ramp for access to drill the high-grade gold SC-1 Zone. A Preliminary Economic Assessment on placing the Goldstorm Deposit in production as an underground mine is now underway. The company plans to follow up on the higher-grade silver intercept later in the Program after completing drilling at the Perfectstorm Zone.

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