Silver47 Intersects High-Grade Mineralization in Step-Out Holes at Red Mountain, Alaska, and Hughes, Nevada Assays for Additional Holes Remain Pending
Silver47 Intersects High-Grade Mineralization
in Step-Out Holes at Red Mountain, Alaska,
and Hughes, Nevada
Assays for Additional Holes Remain Pending
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2025) - Silver47 Exploration Corp. (TSXV:
AGA) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce high-grade assay
results from the first batch of holes from the 2025 drill program at the Company's wholly-owned and
flagship Red Mountain Project in Alaska, USA. The Company also announces that it has drilled multiple
new silver-gold veins east of the Ruby discovery in the Tonopah Mining District, Hughes Project, Nevada.
Key Highlights (Red Mountain):
High-Grade Step-Outs at West Tundra Flat:
640 g/t silver equivalent* over 6.9 m
(136 g/t Ag, 0.56 g/t Au, 7.06% Zn, 1.99% Pb and
0.16% Cu, including
1,341 g/t silver equivalent over 3.05 m
(305 g/t Ag, 1.23 g/t Au,
15.61% Zn, 4.45% Pb and 0.35% Cu) in a
165 m step-out
in WT25-38.
736 g/t silver equivalent over 3.0 m
(249 g/t Ag, 0.69 g/t Au, 6.16% Zn, 3.43% Pb and
0.12% Cu) in a
165 m step-out
in WT25-37.
Broad Mineralization at Dry Creek:
344 g/t silver equivalent over 12.8 m
(13 g/t Ag, 0.01 g/t Au, 4.93% Zn, 2.22% Pb and
0.17% Cu), including
646 g/t silver equivalent over 1.3 m
(335 g/t Ag, 0.71 g/t Au, 3.9%
Zn, 1.4% Pb and 0.13% Cu) in DC25-108.
Resource Expansion:
The 2025 summer program targeted untested areas near historical high-
grade intercepts to enhance Red Mountain's inferred
168.6 million
silver equivalent ounce
resource
(336 g/t AgEq*)
at Dry Creek and West Tundra Flat.
Significant Growth Potential:
Both the West Tundra Flat and Dry Creek deposits remain open
along strike and down-dip, with systematic drilling planned to delineate full scale.
Assays Pending:
Results for 8 additional holes from the 2025 program are pending and
expected to further enhance results.
*Notes: g/t=grams per tonne; AgEq=silver equivalent; ZnEq=zinc equivalent; m=metres; Ag=silver; Au=gold; Cu=copper; Zn=zinc; Pb=lead;
1ppm=1 g/t. Equivalencies are calculated using ratios with metal prices of US$2,750/tonne Zn, US$2,100/tonne Pb, US$8,880/tonne Cu,
US$1,850/oz Au, and US$23/oz Ag and metal recoveries are based on metallurgical work returned of 90% Zn, 75% Pb, 70% Cu, 70% Ag, and 80%
Au. Silver Equivalent (AgEq g/t) = [Zn (%) x 47.81] + [Pb (%) x 30.43] + [Cu (%) x 119] + [Ag (g/t) x 1] + [Au (g/t) x 91.93]
Key Highlights (Hughes):
High-Grade Silver-Gold Intercepts:
509 g/t silver equivalent** (3.30 g/t Au, 252 g/t Ag) over 1.1 m in SUM24-65
406 g/t silver equivalent (2.47 g/t Au, 217 g/t Ag) over 0.9 m in SUM24-66
546 g/t silver equivalent (3.16 g/t Au, 306 g/t Ag) over 0.5 m in SUM23-60
Expanded Ruby Vein System:
Drilling confirms continuity of high-grade silver-gold
mineralization across a broad 600m trend at Ruby.
Significant Discovery Potential:
Mineralization extends over a 4 km strike length east of the
historic Tonopah Mining District, open in all directions, with strong alteration suggesting proximity
to a major mineralized structure.
Searching for the "Main Structure":
Planned drill fences will target the main high-grade
structure, building on mineralized veins and extensive hydrothermal alteration observed in drilling to
date.
**Silver equivalent is calculated using US$20/oz Ag, US$1,800/oz Au with metallurgical recoveries of Ag - 90%, Au - 95%. AgEq = (Ag grade x Ag
recovery)+((Au grade x Au recovery) x (Au price / Ag price)).
Galen McNamara, CEO, stated:
"Our high-grade intercepts at Red Mountain and expanded
mineralization at Hughes position Silver47 as a leader in silver and critical minerals exploration in
premier U.S. jurisdictions. With silver's expected inclusion on the critical minerals list, our 2025 results
and planned drilling underscore our commitment to unlocking value for shareholders. We are excited to
accelerate our exploration at our U.S. projects in 2026 and beyond."
Gary R. Thompson, Executive Chairman, stated:
"It's exciting times for silver companies with the
recent breakout of silver to all time high prices and it feels like we have a new higher base with lots of
room to move dramatically higher from here. Silver47 is well positioned to capitalize on this renewed
interest in the sector as we advance our wholly owned high-grade silver assets within the USA."
Figure 1: West Tundra Flats Drill Hole Locations
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Figure 2: Dry Creek Drill Hole Locations
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Figure 3: West Tundra Flats Long Section
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Figure 4: Dry Creek Long Section
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The Red Mountain Drill Program
The 2025 drill program at the Red Mountain Project, 100 km south of Fairbanks, Alaska, consisted of
fifteen drill holes - eight holes at the Dry Creek target (Figure 1) and seven holes were completed at the
West Tundra Flats target. The Dry Creek and West Tundra Flat targets together account for an inferred
resource of 15.6 Mt at 336 g/t AgEq* for 168.6 million silver equivalent ounces. Drilling at both targets
consisted of a series of infill and step-out holes designed to test areas near historical high-grade drill
intercepts and modelled domains.
Dry Creek Drilling:
Holes DC25-107 and DC25-108 were collared on the northeast extent of the Dry
Creek deposit and tested the down-dip extent of VMS mineralization below and offset from hole DC24-
106. Hole DC24-106, drilled in 2024, intersected multiple massive sulfide horizons within a significant
24.5 m semi-massive mineralized zone (e.g., 2,939 g/t silver equivalent (249.5 g/t Ag, 14.95 g/t Au,
21.97% Zn, 7.03% Pb and 0.42% Cu) over 2.48 m and 2,235 g/t silver equivalent (225 g/t Ag, 8.08 g/t
Au, 21.2% Zn, 6.68% Pb and 0.42% Cu) over 0.91 m, see November 18
th
, 2024 News Release).
Both holes DC25-107 and DC25-108 intersected multiple horizons of semi-massive with locally massive
sulfides (e.g., sphalerite, galena and chalcopyrite) within pyritic metavolcanics and metasediments of the
Totatlanika Schist. This prospective unit is traced for ~4,500 m along the Dry Creek Deposit where it
dips steeply to the north and hosts multiple VMS horizons that locally pinch and swell along strike. Holes
are primarily drilled to the south to intersect the lenses at close to true-widths.
The high-grade interval in DC25-108 at 232.9m downhole (654 g/t silver equivalent (79 g/t Ag, 0.40 g/t
Au, 8.3% Zn, 4.2% Pb and 0.12% Cu) over 1.3 m, Table 1) is approximately 65 m downdip from the
high-grade zone in DC24-106 and demonstrates a strong down-dip extension potential along the VMS
horizon in this section of the Dry Creek Deposit. Further drilling is warranted to fully test the down-dip
potential in the northeastern part of the Dry Creek deposit.
West Tundra Flat Drilling
Holes WT25-35 to WT25-38 were collared as 150-175 offsets from previously drilled holes in the West
Tundra Flat Deposit (e.g., 1,079 g/t silver equivalent (417.4 g/t Ag, 0.74 g/t Au, 9.1% Zn, 4.7% Pb and
0.1% Cu) over 2.9 m in WT24-33, see November 21
st
, 2024 News Release). All holes except WT25-36
intersected semi-massive to massive sulfide at the targeted horizon (e.g. sphalerite, galena and
chalcopyrite at the contact between metavolcanics and metasediments of the Totatlanika Schist. The
prospective contact is traced for ~800 m along the West Tundra Flat Deposit where it dips moderately to
the south.
The VMS-related mineralization intersected in holes WT25-35, WT25-37 and WT25-38 represent 150m
to 175m step outs from previously drilled holes. The mineralization intersected in these holes are outside
of the current mineral resource estimated and suggest potential to contribute additional inferred tonnes
to the block model.
Next Steps
Based on results from drill holes DC25-107 and 108 at Dry Creek and WT25-33 to 39 at West Tundra
Flat together with observations from all holes (see October 1
st
, 2025 News Release) and ongoing
geological modelling, multiple mineralized lenses and domains at both deposits remain open along
strike and down-dip. Assays are pending from the remaining eight holes at Red Mountain.
Table 1. Assay Results
Drill Hole
From (m)
To (m)
Length (m)
Ag (g/t)
Au (g/t)
Zn (%)
Pb (%)
Cu (%)
AgEq* (g/t)
ZnEq (%)
WT25-35
67.10
69.10
2.00
129
2.01
4.17
1.85
0.15
587
12.27
WT25-36
No significant Intersections
WT25-37
241.60
244.60
3.00
249
0.69
6.18
3.43
0.12
726
15.17
WT25-38
173.00
179.90
6.90
136
0.56
7.06
1.99
0.16
604
12.63
including
176.90
179.90
3.00
305
1.23
15.61
4.45
0.35
1,341
28.04
DC25-107
84.90
93.30
8.40
87
0.42
1.44
0.66
0.02
217
4.53
and
154.70
155.50
0.80
3
0.03
0.01
0.02
1.80
221
4.62
and
160.00
160.60
0.60
3
0.02
7.08
0.74
0.23
393
8.21
and
171.20
171.60
0.40
11
0.46
2.20
0.71
0.03
184
3.85
and
173.50
173.90
0.40
182
0.19
5.48
3.18
0.05
565
11.81
DC25-108
103.30
107.00
3.70
61
0.33
1.86
0.75
0.03
207
4.32
and
119.70
132.00
12.30
13
0.09
4.93
2.22
0.17
344
7.20
and
135.00
139.10
4.10
5
0.07
2.28
0.70
0.05
149
3.11
and
148.80
149.60
0.80
22
0.11
2.19
0.80
0.04
166
3.47
and
171.40
174.40
3.00
169
0.44
2.08
0.76
0.18
353
7.39
including
173.10
174.40
1.30
335
0.71
3.92
1.43
0.13
646
13.51
and
196.70
197.00
0.30
4
0.01
0.01
0.00
2.52
306
6.40
and
221.80
224.70
2.90
33
0.33
3.04
1.28
0.03
251
5.24
and
232.90
234.30
1.40
79
0.40
8.28
4.21
0.12
654
13.68
DC25-109
Hole Lost Before Target
*Notes: g/t=grams per tonne; AgEq=silver equivalent; ZnEq=zinc equivalent; m=metres; Ag=silver; Au=gold; Cu=copper; Zn=zinc; Pb=lead;
1ppm=1 g/t. Equivalencies are calculated using ratios with metal prices of US$2,750/tonne Zn, US$2,100/tonne Pb, US$8,880/tonne Cu,
US$1,850/oz Au, and US$23/oz Ag and metal recoveries are based on metallurgical work returned of 90% Zn, 75% Pb, 70% Cu, 70% Ag, and 80%
Au. Silver Equivalent (AgEq g/t) = [Zn (%) x 47.81] + [Pb (%) x 30.43] + [Cu (%) x 119] + [Ag (g/t) x 1] + [Au (g/t) x 91.93]
Table 2. Collar information
Target Area
Drill Hole
Easting
Northing
Elevation
Azimuth
Dip
Final Depth
Dry Creek
DC25-107
480899
7088578
1195
140
-55
247
Dry Creek
DC25-108
480899
7088579
1195
110
-65
265
Dry Creek
DC25-109
480084
7088634
1328
145
-52
98
West Tundra Flat
WT25-35
484414
7090964
964
350
-50
155
West Tundra Flat
WT25-36
484411
7090960
964
228
-59
157
West Tundra Flat
WT25-37
483875
7090818
971
136
-59
302
West Tundra Flat
WT25-38
483874
7090820
971
60
-59
277
WGS84 6N
The Hughes Drill Program
Over 3,700 m of combined reverse circulation and diamond drilling (RC pre-collars with diamond tails) in
seven holes were completed along strike from the significant Ruby discovery, part of the eastern
extension of the Tonopah Mining District, near Tonopah Nevada. The purpose of the exploration drill
program was to test for mineralization across a 475 m untested gap between the Ruby discovery (e.g.,
SUM23-59 1,450 g/t silver equivalent* (8.41 g/t Au, 813 g/t Ag) over 3.0 m) and a significant mineralized
vein discovered in hole SUM23-60 (392 g/t silver equivalent* (3.04 g/t Au, 147 g/t Ag) over 3.0 m, Figure
1). Program highlights include:
Drilling first consisted of a series of four step-out holes (e.g., SUM25-65, 66, 67, and 68, Figure 2)
with pierce-points on 50 to 100 m centers from two pad setups. All four holes intersected zones of
strong and pervasive epithermal-related argillic and phyllic alteration with local zones of
mineralized quartz veining and vein-stockwork. Hole SUM24-65 intersected two mineralized vein
zones 50 m apart within a broad >500 m zone of locally intense alteration - 221 g/t silver equivalent
(1.22 g/t Au, 130 g/t Ag) over 0.6 m and 509 g/t silver equivalent (3.30 g/t Au, 252 g/t Ag) over 1.1
m (Table 1).
A north-south, 450m fence of three holes offset from hole SUM23-60 were drilled through the
projected Ruby vein system. These holes were designed to test for potential parallel structures and
the up- and down-dip extent of silver-gold mineralization intersected in SUM23-60. RC pre-collars
were completed for the three holes (SUM25-69, 70 and 71) and holes SUM24-69 and 71 were
completed with diamond tails (Figure 2). Hole SUM25-69, a 130m down-dip step-out from
SUM23-60, intersected 190 g/t silver equivalent (1.12 g/t Au, 106 g/t Ag) over 1.8 m including 546
g/t silver equivalent (3.16 g/t Au, 306 g/t Ag) over 0.5 m. This hole intersected multiple broad zones
of strong argillic-quartz alteration with polyphase quartz-pyrite veining.
The scale and intensity of the epithermal-related hydrothermal alteration observed in every hole
demonstrates the potential scale and complexity of the Ruby system. All holes intersected significant
zones of argillic-pyrite alteration punctuated by local zones of strong silicification, quartz-carbonate veins,
poly-phase vein stockworks and breccia. The nature of the high-level alteration assemblages and
textures may suggest proximity to a stronger mineralized system. Many of the intervals of strong
alteration are associated with broad structural zones of faulting with increasing alteration near lithological
boundaries. These structural and alteration relationships are observed across all previous holes into the
Ruby target (e.g., SUM21-10 and SUM23-59) and suggests the Ruby system is broader and more
complex than previously understood. Additional drilling is clearly warranted along this east-west trend as
well as stepped back to the north, down-dip to better constrain the lateral and vertical extent of silver-gold
mineralization.
Figure 5: Hughes Drill Hole Locations
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Figure 6: Hughes Long Section
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Next Steps
Structural and lithological data from the recently completed holes have been integrated into the Ruby vein
model. Planning is now underway for a follow-up drill program which will be aimed at further targeting
high-grade veins east of the Ruby discovery across the eastern extension of the historic Tonopah Mining
District.
Table 3. Assay Results
Drill Hole
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
AgEq* (g/t)
SUM24-65
491.4
492.0
0.6
1.22
130
221
and
552.8
553.9
1.1
3.30
252
509
SUM24-66
540.9
541.8
0.9
2.47
217
406
SUM24-67
545.8
546.5
0.7
1.59
198
314
SUM24-68
560.6
561.4
0.8
0.67
89
137
SUM25-69
292.7
294.5
1.8
1.12
106
190
including
294.0
294.5
0.5
3.16
306
546
SUM25-70
RC Pre Collar Only
SUM25-71
No Significant Intercepts
**Silver equivalent is calculated using US$20/oz Ag, US$1,800/oz Au with metallurgical recoveries of Ag - 90%, Au - 95%. AgEq = (Ag grade x Ag
recovery)+((Au grade x Au recovery) x (Au price / Ag price)).
Table 4. Collar information
Target Area
Drill Hole
Easting
Northing
Azimuth
Dip
Final Depth (m)
Ruby
SUM24-65
482542
4214094
113
-56
676.4
Ruby
SUM24-66
482788
4214336
187
-59
647.7
Ruby
SUM24-67
482790
4214336
176
-54
611.7
Ruby
SUM24-68
482793
4214335
138
-49
659.0
Ruby
SUM25-69
483087
4214397
155
-49
612.0
Ruby
SUM25-70
483068
4214612
165
-50
213.4
Ruby
SUM25-71
483125
4214149
145
-50
484.6
NAD83 Z 11N
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara, P.
Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.
Quality Assurance and Quality Control
Drill core was sawn in half at Silver47's core logging and processing facilities at the Red Mountain, near
Fairbanks Alaska. Core samples were typically taken at 1.0 m intervals in mineralized zones, and 3.0 m
intervals outside of mineralized zones. Sample lengths were adjusted as necessary so as not to cross
lithologic and mineralogic boundaries. QAQC check samples were inserted into the sample stream with
one blank, one duplicate (coarse), and one certified reference material (CRM) occurring within every 20
samples. Drill core was cut in half, bagged, sealed and delivered directly to ALS Minerals Fairbanks,
Alaska for transport to the ALS Minerals Laboratories labs in North Vancouver, British Columbia. ALS
Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory
procedures. Core samples were analyzed at ALS Laboratory facilities in North Vancouver using four-
acid digestion with an ICP-MS finish (ME-MS61). Gold analysis was by fire assay with atomic
absorption finish (Au-ICP21). Over-limits for silver, zinc, copper, and lead were analyzed using Ore
Grade four-acid digestion (MEOG-62). The standards, certified reference materials, were acquired from
CDN Resource Laboratories Ltd. of Langley, British Columbia and selected to represent expected
mineralization.
Drill core was sawn in half at Silver47's core logging and processing facilities at the Hughes Project,
Tonopah Nevada. All core samples were sent to Paragon Geochemical Laboratories in Sparks, Nevada
for preparation and analysis. Paragon meets all requirements of the International Accreditation Service
AC89 and demonstrates compliance with ISO/IEC Standard 17025:2017 for analytical procedures.