First Andes Silver Reports Additional Drilling Intersections of the San Jorge Epithermal Vein, Santas Gloria Project, PERU
FIRST ANDES SILVER REPORTS ADDITIONAL DRILLING INTERSECTIONS OF THE SAN JORGE EPITHERMAL
VEIN, SANTAS GLORIA PROJECT, PERU
Vancouver, British Columbia, August 5, 2025 – FIRST ANDES SILVER LTD. (TSXV: FAS; OTC Markets: MSLVF;
FSE: 9TZ ) (the “Company” or “First Andes” ) today announced an update on the ongoing 2,000 -meter
diamond drill program at its flagship Santa Gloria Project (“Santas Gloria” or the “Project”) , located
approximately 55 kilometers east of Lima, Peru. Recent drilling has intersected multiple additional
sulphide-bearing epithermal zones at the San Jorge vein system (“San Jorge”) , further supporting the
presence of a structurally controlled silver-polymetallic system at depth (Figure 1, Table 1).
Drill Highlights:
• To date, a total of 1,092 m has been drilled in 8 holes, with 188 samples (154.20 m) submitted for
assay;
• Hole SG023 : Intercepted a hydrothermal breccia zone from 145.25 to 174.80 m (29.55 m)
characterized by silicification, argillic alteration, and sulphide mineralization. A 2.40-m-wide zone
from 172.00 m hosted massive sulphides (pyrite, galena, and sphalerite);
• Hole SG020: Returned a 27.60-m interval (133.00 to 160.60 m) characterized by strong oxidation,
sericite-clay alteration, and sulphides hosted in breccia and dacite. Structurally controlled
sulphide veinlets and breccias suggest epithermal continuity at depth;
• Hole SG021: Intersected 13.80 m (93.40 to 107.20 m) of brecciated and fractured rock with pyrite
and galena mineralization. Several zones recorded elevated sulphide concentrations, supporting
a well-preserved sulphidic system;
• Hole SG018: Intersected a broad hydrothermal breccia zone from 85.65 to 114.20 m (28.55 m),
with quartz veinlets, silicified clasts, and disseminated sulphides (pyrite-dominant). The drill hole
crossed an historic underground working between 105.20 and 108.90 meters, interpreted to
correspond to the main mineralized structure;
• Hole SG019 : Cut 33.60 meters (80.00 to 113.60 m) of hydrothermally altered rock, including
quartz stockworks and breccias with disseminated pyrite, sphalerite, and galena. A historical mine
void was intersected at 110.90 m, confirming legacy workings along the mineralized corridor;
• Hole SG022: Encountered mineralized breccias and oxidized dacite from 91.10 to 98.70 m (7.60
m) characterized by manganese oxide minerals (“MnOx”) and pyrite;
• Santas Gloria is located within in a historically-mined silver district, where past production (dating
back to the 1860s) occurred during with much lower silver prices, highlighting the Project’s strong
mineral potential and increased relevance in today’s bullish silver market.
“Field logging results from the Company’s ongoing 2025 drill campaign continue to validate the scale,
continuity, and fertility of the San Jorge vein system,” stated Colin Smith, CEO and Director of First Andes
Silver. “In particular, the sulphide-bearing breccias intersected in SG023, SG020, and SG021 exhibit strong
structural control and increasing polymetallic mineralization at depth, with pyrite, galena, and sphalerite
all present. We eagerly anticipate the first batch of results which we expect to receive in approximately 2
weeks.”
Figure 1: Plan map of ongoing 2025 drill program at San Jorge
* The 2024 drill assays were disclosed in the Company’s news release dated October 29, 2024. The channel samples were
disclosed in the Company’s news release dated June 2, 2021.
*AgEq formula: AgEq = ((Ag ppm x Ag g/USD)+(Au ppm x Au g/USD)+(Pb ppm x Pb g/USD)+(Zn ppm x Zn g/USD)) / (Ag g/USD)
*Metal priced applied: Ag = $28 USD/oz, Au = $2500 USD/oz, Pb = $2100 USD/t, Zn = $2900 USD/t (all multiplied by below recoveries)
*Metal recoveries applied (from 2021 test work): Ag = 88.1%, Au = 80.9%, Zn = 64.4%, Pb = 79.3%
*2021 metallurgical test work news release: https://firstandes.com/mantaro-silver-corp-receives-positive-preliminary-metallurgical-test-
results-for-both-bulk-flotation-and-sequential-flotation-recovery-options-with-the-bulk-flotation-demonstrating-recoveries-of-88/
Table 1: Summary of field logging interpretations at the 2025 drill program, San Jorge vein system
Hole
ID
Release
Date
Interval*
(m)
Thickness
(m)
Observed Sulphide
Minerals Field Logging Interpretations
SG016 02-Jul-25 71.00-78.40 7.40 Py, Gal Upper oxidized zone, intercepting a historical
working intersected within target zone
SG017 02-Jul-25 136.60-194.20 57.60 Py, Gal, Sph, Barite,
Tetrahedrite
Well-developed epithermal breccia with intense
alteration; strong polymetallic sulphide system
SG018 23-Jul-25 85.65-114.20 28.55 Py Hydrothermal breccia with silicification; historic
workings intersected within target zone
SG019 23-Jul-25 80.00-113.60 33.60 Py, Sph, Gal Silicified breccia and quartz stockworks;
historical working intersected within target zone
SG020 23-Jul-25 133.00-160.60 27.60 Py Brecciated dacite and andesite with sulphide
veinlets
SG021 23-Jul-25 93.40-107.20 13.80 Py, Gal Brecciated and fractured zone with sulphide
veinlets
SG022 23-Jul-25 91.10-98.70 7.60 Py Oxidized breccia zone with epithermal overprint
SG023 23-Jul-25 145.25-174.80 29.55 Py, Gal, Sph, Po Silicified and sulphidic breccia with strong
polymetallic signature at depth
*reported intervals are drilled lengths, true widths are yet to be determined
Quality Assurance / Quality Control (“QA/QC”)
The Company follows industry -recognized standards of Best Practice and QA/QC. HQ-diameter core
samples are sawed into equal halves, and selected ½ core samples are submitted to AHK Group in in Lima,
Peru, a market-leading provider of inspection and analysis services which maintains rigorous quality
standards through compliance with industry standards and regulations, including ISO/IEC 17025 and ISO
9001. Core samples are sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody,
for fire assay and ICP analysis. To date, all batches have passed QA/QC within acceptable tolerance limits.
All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90%.
Qualified Person
Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument
43-101, has reviewed and approved the technical information contained in this news release. Dr. Wilson
is not independent and serves as Chief Geologist of First Andes Silver Ltd. and owns securities 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 incl ude, among other things: risks and uncertainties relating to Company’s limited
operating history, ability to obtain sufficient financing to carry out its exploration programs and the need
to comply with environmental and governmental regulations. According ly, 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, 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.
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