First Andes Silver Provides Exploration Program Update, Santas Gloria Project, PERU
FIRST ANDES SILVER PROVIDES EXPLORATION PROGRAM UPDATE, SANTAS GLORIA PROJECT, PERU
Vancouver, British Columbia – December 8, 2025 – FIRST ANDES SILVER LTD. (TSXV: FAS; OTC Markets:
MSLVF; FSE: 9TZ) (“First Andes” or the “Company”) today provided an update on the ongoing systematic
property-wide exploration program at the Company’s 100%-owned Santas Gloria Project (“Santas Gloria”
or the “Project”), located approximately 55 kilometers east of Lima, Peru. For additional information on
the exploration program scope, please refer to news release dated November 10, 2025.
Key Points Summary:
• Phase 1 soil sampling (“Phase 1”) has been completed ahead of schedule, and under budget:
o 1,037 soils collected, covering over 6.5 kilometers (“km”) of cumulative vein strike length
o Phase 1 focused on the northern veins, including Maribel, Paquita, Rosario, Eulalia, Kelly
and several unnamed vein sets (Figure 1)
o Samples have been submitted to ALS, Lima for full multielement ICP analysis, with results
anticipated in 4 to 5 weeks;
• WorldView 3 (“WV-3”) satellite successfully captured image and spectral data over Santas Gloria:
o 100% clean, unobstructed capture, translating to high data quality
o QA/QC and data processing has commenced
o Delivery of final mineral alteration mapping products expected in 3 to 4 weeks;
• Phase 2 soil sampling (“Phase 2” - southern veins) will commence after the wet season (~March),
which will also allow for full receipt and interpretation of Phase 1 assays and WV-3 data;
• A 15-kilogram (“kg”) core sample of Ag-Pb-Zn-Au-mineralized oxide vein has been collected from
San Jorge drill hole SG003 for preliminary metallurgical test work at SGS Lakefield, Ontario; prior
leaching results indicated a +80% Ag recovery to solution on upper-level oxide mineralization
(see news release dated August 9, 2021).
“Completing Phase 1 soils ahead of schedule and under budget, alongside a 100% clean WorldView -3
capture, puts us in a very strong position heading into the next phase of work at Santas Gloria. Over the
next several weeks we will be integrating multielement soil geochemistry, and high-resolution spectral
alteration mapping to refine our targeting along the full epithermal district,” stated Colin Smith, CEO and
Director of First Andes Silver. “By the time the wet season subsides and Phase 2 soils get underway, we
expect to have a much sharper, data-driven view of where to focus future exploration efforts to unlock the
broader high-grade silver potential of the district.”
Phase 1 Soil Sampling
A total of 1,037 soil samples were collected 25 meters apart along north-south orientated lines (21 total),
transecting over 6.5 kilometers of mapped intermediate-sulphidation veins in the northern have of Santas
Gloria (Figure 1) . Soil sample lines extended 200 meters past the surficial trace of all known veins to
facilitate detection of critical zonation patterns, and hidden extensions to veins along-strike.
The property -wide soil program is designed to establish a robust geochemical framework across the
Santas Gloria district, positioning First Andes to both identify new, previously unrecognized anomalies and
sharpen the footprint of existing mineralized tren ds. By integrating the soil dataset with WV -3 spectral
products, detailed mapping, rock and channel sampling, and future geophysics, the Company will be able
to methodically rank and advance the highest-priority targets toward Phase 4 drilling – an important step
in realizing the broader discovery potential of the Santas Gloria intermediate-sulphidation vein system.
Figure 1: Progress map of Phase 1 and Phase 2 soil sampling at Santas Gloria.
WorldView-3 Spectral Alteration Mapping
The WV-3 satellite has successfully acquired high -resolution multispectral and short -wave infrared
(“SWIR”) imagery over the entire Santas Gloria vein field, and potential extensions thereof (50 km2). The
acquisition was 100% cloud - and shadow -free, providing an exceptionally clean dataset and a strong
foundation for detailed mineral alteration mapping. QA/QC checks and initial data processing are now
underway, with delivery of the final WV-3 alteration products expected within the next 3 to 4 weeks.
The WV -3 spectral data will be used to systematically map key hydrothermal alteration minerals
associated with intermediate -sulphidation epithermal Ag -Pb-Zn-Au systems across the district. Once
received, these products will be integrated with the Phase 1 soil geochemical results, detailed geological
mapping, rock and channel sampling, and geophysics to highlight new blind or weakly expressed targets
and refine the geometry of known mineralized corridors. This integrated targeting work will directly
inform the design and prioritization of future drilling campaigns at Santas Gloria.
Figure 2: Plan map of the captured WV-3 alteration mineral mapping area at Santas Gloria.
Metallurgical Testwork
A 15-kilogram composite core sample of Ag-Pb-Zn-Au–mineralized oxide vein material from San Jorge drill
hole SG003 has been collected and submitted to SGS Canada Inc. (Lakefield, Ontario) for cyanide leach
testing under previously optimized conditions. This follow-up program builds on earlier metallurgical work
completed on an oxide sample from Santas Gloria, which returned overall gravity plus cyanidation
recoveries of more than 97% for gold and 82% for silver, and whole -material cyanidation recoveries of
98.8% for gold and 71.2% for silver under similar leach conditions. Results are anticipated in 6 to 8 weeks.
Qualified Person
Colin Smith, P.Geo. , a Qualified Person under National Instrument 43 -101, has reviewed and approved
the technical information contained in this news release. Mr. Smith serves as CEO and Director of First
Andes Silver Ltd. and is a shareholder of the Company.
About First Andes Silver Ltd.
First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high -grade Santas
Gloria silver property, located in a major mining district 55 km east of Lima, Peru. Santas Gloria has
excellent established road access, and is situated within a well -known intermediate sulphidation
epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been
historically drilled or explored by modern techniques before 2024. First Andes’ maiden diamond drill
program last year reported high -grade silver grades on all drilled v ein systems confirming silver
endowment and warranting high priority follow-up drilling in 2025.
For more information please contact:
Colin Smith, CEO & Director
Phone: 604 806-0626 (ext. 108)
E-mail: [email protected]
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 gu arantees of future performance. The
Company 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 the Company’s
control. Such factors include, among other things: risks and uncertainties relating to Company’s limite d
operating history, ability to obtain sufficient financing to carry out its exploration programs and the need
to comply with environmental and governmental regulations. Accordingly, actual and future events,
conditions and results may differ materially fr om the estimates, beliefs, intentions and expectations
expressed or implied in the forward -looking information. Except as required under applicable securities
legislation, the Company undertakes no obligation to publicly update or revise forward -looking
information.
The forward-looking statements contained in this news release are made as of the date of this news
release. Except as required by law, the Company disclaims any intention and assumes no obligation to
update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.