The Silver Letter

Defiance Silver Receives Approval for up to 172 Drill Sites at Espiritu Copper Target, Sonora

(TSXV: DEF) Defiance Silver Corp. announced that Mexico's Secretariat of Environment and Natural Resources (SEMARNAT) has approved the Company's Informe Preventivo for the Espiritu target at its Green Earth Project in Sonora, Mexico. The authorization permits exploration activities for a period of approximately 60 months, including the construction of up to 172 drill platforms and related access roads. Defiance Silver Corp. is advancing the district-scale Zacatecas project, the 100% owned Tepal Gold/Copper Project in Michoacán state, Mexico, and the newly acquired Green Earth Metals property portfolio in Sonora State. The company submitted the Informe Preventivo as part of its commitment to conducting exploration activities in accordance with applicable environmental standards and regulatory requirements. Defiance Silver's corporate mandate is to advance its projects through capital-efficient exploration focused on resource growth and new mineral discoveries. The company expects cooperation with the Mining Bureau relating to the reinstatement of ownership of the concessions to the Company and the potential for any successful solution resulting therefrom. The company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

Great Atlantic Resources Partner Drills 18.45 Metres of 1.14% Copper, 2.42% Zinc, 16.74 G/t Silver and 0.32 G/t Gold in Upper Lens; 5.42 Meters of 1.99% Copper, 1.66% Zinc, 15.49 G/t Silver and 0.8 G/t Gold in Lower Lens at Pilley's Island Project

(TSXV: GR) GREAT ATLANTIC RESOURCES CORP. announced an update on remaining assays received by option partner HM Exploration Corp. (CSE: HM) for drill holes eight (8) to twelve (12) from HM Exploration's Phase One drilling program at Great Atlantic's Pilley's Island Project. HM Exploration holds an option to earn a 100% interest in the project, and the upper lens mineralization has been confirmed over a strike length of approximately 145 m, while the lower lens is confirmed over an approximate strike length of 40 m. Significant assay results include PI-26-008 with 18.45m of 1.14% Cu, 2.42% Zn, 16.74 g/t Ag, and 0.32 g/t Au, and intervals such as 0.71m of 2.25% Cu, 2.27% Pb, 27.3% Zn, 102 g/t Ag, and 2.42 g/t Au. The lower lens returned up to 149 g/t silver and 10.23 g/t gold in 0.82m, and the upper lens returned up to 8.14% copper and 27.3% zinc in 0.57m and 0.71m intervals, respectively. The 2026 Phase One drilling program focused on evaluating the continuity of the mineralized system below known surface showings and along strike of the Clifford Jones (Bull Road) Zone. The company projects that downhole and ground EM surveys are mobilizing soon to support target refinement for 2026 Phase Two drilling, which will test potential extensions of the mineralized system. All reported intervals represent drilled lengths, and true widths of the mineralized intersections are currently unknown.

Lodestar Metals Reports Bulk-Tonnage Gold-Silver Potential at the Gold Run Project in Nevada

(TSXV: LSTR) (OTCQB: SVTNF) Lodestar Metals Corp., an exploration company, reports assay results from the first six reverse-circulation ("RC") holes of its maiden 2,680m drill program at the flagship Gold Run project in Nevada. The initial 1,143 m of drilling at the Robbers Knob target identified multiple gold-silver mineralisation styles and strong bulk-tonnage potential, with highlights including 16.8 m grading 6.07 g/t Au and 41.1 g/t Ag in LSRC04, and 70.1 m grading 0.54 g/t Au and 6.7 g/t Ag in LSRC03. Assays are pending for 12 additional RC holes totaling 1,537 m across three priority targets: Gomes, Black Diamond, and Crown North. The maiden RC drill program tested four high-priority gold-silver targets across Gold Run and comprised 18 holes totaling 2,680 m. Sampling procedures included collecting samples at 5 ft (1.52 m) intervals, with QA/QC protocols of approximately 3 blank samples, 2 standard samples, and 3 field duplicates per 100 samples. The company projects follow-up drilling is expected to test the scale and continuity of deeper mineralisation and believes this program marks an important step in defining the broader scale potential of the Gold Run project. All QA/QC samples were within expected tolerances, and final analytical results were reported in certified laboratory assay certificates provided to the Company's management and technical team.

Nord Initiates MECP Pre-Submission Consultation for Gowganda Silver Tailings Recovery Program

(TSXV: NTH) (OTCQB: NPMMF) Nord Precious Metals Mining Inc. has initiated pre-submission consultation with the Ontario Ministry of the Environment, Conservation and Parks regarding environmental permissions for its silver tailings recovery program in the Gowganda Silver Camp, Ontario. On July 21, 2026, the Company's technical team met with MECP's North Bay District Office and Northern Region Technical Support Section to review project information and identify materials expected to support future environmental submissions alongside the planned Mineral Recovery Permit application under Ontario Regulation 463/24. On March 31, 2026, Nord acquired four mining leases consolidating historical silver tailings and the most productive past-producing ground in the Gowganda Camp, complementing TTL Laboratories, the only permitted high-grade milling facility in the historic Cobalt Camp. The company operates a fully funded 5,000-metre phase at Castle East within a broader planned 30,000-metre program. Castle East hosts a historical estimate reported in 2020 as an Inferred Mineral Resource of 7.56 million ounces of silver grading 8,582 g/t Ag (250.2 oz/ton) in 27,400 tonnes across two sections of the Robinson Zone, beginning at a vertical depth of approximately 400 metres. The company expects to complete a mineral resource estimate for the Project, prepared in accordance with NI 43-101, within the next six months, followed by a technical report on the economics of reprocessing. Nord then intends to finance development of the tailings project on the strength of that study, with cash flow from reprocessing intended to fund exploration across its district-scale, high-grade silver projects.

BRS Resources Ltd. Signs Definitive Agreement to Acquire High-Impact Gold-Silver Concessions in Sonora, Mexico

(CSE: BRS) BRS Resources Ltd. has signed a definitive agreement to acquire high-potential mineral concessions in the Mulatos Gold Belt, located 11 km north of Yécora, Sonora, Mexico. The concessions, including the La Guadalupana and El Señor de los Guerreros claim blocks, cover 1,053 hectares of epithermal gold-silver-copper potential. BRS may earn a 75% interest in the Properties by expending US$5,000,000 in exploration and development over a 5 year period and making a payment of US$5,000,000 at the end of the 5 year period. The company has agreed to pay US$100,000 for the preparation of a NI 43-101 technical report and grant the vendors a 3% net smelter return royalty, with the option to buy-back 2% of the NSR for US$3,000,000. BRS' principal property is the Cowtrail Property, consisting of 32 mineral claims covering 4,400 hectares in south central British Columbia, Canada. The company projects advancing high-resolution drone geophysics and 3D inversion modeling ahead of its drilling campaign. Completion of the acquisition is subject to BRS obtaining all necessary regulatory approvals.

Excellon Produces First Concentrate at Mallay

(TSXV: EXN) Excellon Resources Inc. announced that it has achieved first concentrate production during the pre-commissioning campaign at its 100%-owned Mallay Silver-Lead-Zinc Mine in central Peru. Since commencing operations on July 2, 2026, the Mallay concentrator has processed approximately 12,000 tonnes of material, producing concentrates containing approximately 29,200 ounces of silver, 319,000 pounds of lead, and 456,000 pounds of zinc. The company is targeting a controlled rate of approximately 400 tonnes per day during the pre-commissioning period, with initial concentrate shipments expected in August 2026 and payment to be received during the quarter. Dewatering of the 400 Ramp below the 4090 Level has advanced, allowing rehabilitation to commence, which is expected to take approximately three months. Three drill rigs are active, targeting confirmation drilling at depth and near-mine exploration, with results to be reported separately. The Mallay concentrator is a conventional flotation plant with a nameplate capacity of 600 tonnes per day. The company projects continued mill pre-commissioning, shipment of initial concentrates in August 2026, and ongoing development and rehabilitation to establish access below the 4090 Level.

Silver Pony Announces an Exploration Update From Work Ongoing Drill Testing of Primary High-Grade Silver Targets

(CSE:PONY, OTC:CCCFD) Silver Pony Resources Corp. announced that its maiden diamond drill program at the Silver Pony Project in British Columbia has surpassed 1,000 m, with the first three holes complete for a total of approximately 1,013 m and a fourth hole underway. SP26-001 was completed to 298.4 m at the Black Warrior target, SP26-002 at 352.77 m at the Badshot Formation contact, and SP26-003 at 361.7 m at the Old Gold target area. Historic high-grade surface sampling includes a chip sample of 3,549 g/t Ag at the Black Warrior Target and a grab sample returning 12,147 g/t Ag and 10.7% Cu at the Old Gold Target. The company mobilized to the project in early June 2026, with diamond drilling commencing July 3rd, 2026. The Silver Pony Project comprises 37 contiguous mineral tenures totaling 37,022.88 hectares in southeastern British Columbia, within the Slocan Mining District and Revelstoke Mining District. First core shipments have been submitted to Actlabs with initial assay results expected over coming months. The company projects the completion of the current exploration program and anticipates timing and results of assay submissions in the coming months.

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