ICG Silver & Gold Secures ~2,000-Acre Expansion at the Tuscarora District and Identifies Large Scale Structural Source
ICG Silver & Gold Secures ~2,000-Acre
Expansion at the Tuscarora District and
Identifies Large Scale Structural Source
Potential Carlin-style host rock on western-flank of Tuscarora, adding to diversity of systems and
structures across the District
ICG is continuing to consolidate prospective land in northern Nevada, as activity in the region
accelerates, including the planned restart of First Majestic's Jerritt Canyon mine
Toronto, Ontario--(Newsfile Corp. - April 16, 2026) -
ICG Silver & Gold Ltd. (CSE: ICG) (FSE:
JI0) ("ICG" or the "Company")
is pleased to announce a significant expansion of the Tuscarora
District ("
Tuscarora
", the "
District
", or the "
Project
") located in Elko County, Nevada, through the
payment and staking of
104 additional unpatented mining claims
on the western flank of the property
(see Figure 1). The acquired claims cover approximately
2,000 acres
of highly prospective ground and
represent a strategic step toward consolidating the broader Tuscarora District. Given the growth in
exploration and development activity in northern Nevada, as evidenced by First Majestic Silver Corp.'s
planned restart of the Jerritt Canyon mine, which sits only 16 kilometers away from the Tuscarora
District, ICG has made it a top priority to consolidate key claims.
"The newly acquired claims reinforce the district-scale nature of the Tuscarora District, and highlight the
prospectivity of the Beard Hill and Dacite targets," said Steven Sirbovan, President, CEO & Director of
ICG Silver & Gold Ltd. "The addition of Carlin-style host rock on the western flank is a great complement
to the layer cake of epithermal systems we are seeing on the central and eastern portions of our
Project."
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This land expansion builds upon the Company's recently completed Controlled-Source Audio
Magnetotelluric (CSAMT) geophysical survey (
see April 9, 2026 news release
). Results from the survey,
when integrated with historical geologic mapping and regional datasets, highlighted compelling
structural and lithological targets extending onto the newly staked ground (see Figures 2-5).
Highlights
104 new claims staked
, adding approximately 2,000 acres to the Tuscarora District
Expansion captures the
western extension of key structural corridors
Ground selection driven by
CSAMT results and geological interpretation
3, 5
Supports ICG's strategy to
consolidate and control a district-scale land position
Figure 1: Complete land package with CSAMT lines and McCann Creek Structural Zone.
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Geological Upside – Multiple Mineralizing Systems
The Tuscarora District is located between the greater Carlin Trend and the Independence Trend, two
Carlin-type gold belts in northern Nevada. The Carlin Trend is one of the world's most prolific gold
districts, with production and resources exceeding 100 million ounces of gold
2,4
. The Independence
Trend hosts multiple gold systems, including the Jerritt Canyon District, which has produced
approximately 9.85 million ounces of gold
1
. This favorable regional setting highlights the District's
proximity to large, well-endowed mineral systems and underscores its potential to host significant gold
mineralization. The recently expanded land position is interpreted to encompass a highly prospective
geological setting where two distinct, but potentially related mineralizing systems may be present:
Established low-sulphidation epithermal silver-gold and gold-silver systems within the Tuscarora
District
2
Proximal to favorable sedimentary lithologies associated with Carlin-style, sediment-hosted gold
systems
Figure 2: Inset regional geology map
3
showing the Tuscarora District land position (outlined in black
and pink), including newly staked claims, interpreted structural corridors, and historical sample
locations.
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Importantly, both geological environments are interpreted to be of similar Eocene age (approximately
39.97-39.3 million years old
5
), suggesting the potential for shared or, more likely, overlapped
mineralizing episodes.
This geological setting creates a compelling exploration scenario in which structural controls, fluid
pathways, and lithologic contrasts may have focused mineralization of multiple styles into a district-scale
target.
Dacite and Beard Hill Targets – Emerging Feeder System
Recent integration of CSAMT data, historical mapping, and geological interpretation has significantly
advanced the Company's understanding of the Dacite and Beard Hill targets.
These targets,
previously interpreted as near-surface expressions of mineralization, are now understood to
be linked to a deeper, structurally controlled source.
Interpretation of the dataset indicates that
mineralization at both Dacite and Beard Hill is likely sourced from the McCann Creek Structural Zone,
which is interpreted to represent a fluid conduit and feeder structure within the District.
Figure 3: Line 900 (L900) Inverted Resistivity Complete Section with newly identified structures and
known mineralization.
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Figure 4: Line 900 (L900) Inverted Resistivity Section, Eastern Half with surface gold values and silver
values.
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Figure 5: Line 900 (L900) Inverted Resistivity Section, Western Half with surface gold values.
To view an enhanced version of this graphic, please visit:
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This evolving model suggests that the Dacite and Beard Hill targets are not isolated or rafted fragments
of a mineralized system, but rather represent the upper expressions of a coherent mineralizing system
rooted at depth. The identification of this feeder relationship materially enhances the exploration
potential of the project by:
Demonstrating a clear genetic link between surface mineralization and a deeper source
Highlighting the McCann Creek Structural Zone as a priority target for future drill testing
Supporting the potential for increased scale both laterally and at depth
Providing a vector toward higher-grade or more continuous mineralization along structural
pathways
This interpretation reinforces the Company's district-scale thesis for Tuscarora and provides a
compelling framework for targeting deeper mineralization beneath known surface showings.
By securing this ground, ICG has expanded its control over the broader mineral system and is now
positioned to evaluate the Project as a district-scale opportunity with multiple target types and
exploration vectors.
Next Steps
The Company is advancing toward a comprehensive exploration program that will incorporate:
3D inversion modeling of all the CSAMT datasets
Integration of historical drilling and mapping into a 3D geological model
Refinement of high-priority drill targets across the expanded land package
Continued evaluation of additional consolidation opportunities
Live Webinar
The Company is hosting a live webinar, today, to provide an overview of the Company and the Tuscarora
District, outline ICG's current focus and growth strategy and discuss recent developments and what they
could mean for potential value creation.
Date:
Thursday, April 16
th
, 2026
Time:
4:30pm ET / 1:30pm PT
Registration Link:
https://us06web.zoom.us/webinar/register/WN_swHd76-7QUWL-2ZGvy_dMA
Corporate Update
The Company also announces that it has granted an aggregate of 350,000 stock options (the
"
Options
") to certain consultants of the Company. The Options are exercisable $0.51 per common
share for a period of 5 years from the date of grant. The Options will vest as to one-third (1/3) at six (6)
months from the date of grant, one-third (1/3) at nine (9) months from the date of grant, and the remaining
one-third (1/3) at twelve (12) months from the date of grant, in accordance with the Company's stock
option plan and the policies of the Canadian Securities Exchange (the "
CSE
").
In addition, the Company has issued an aggregate of 3,400,000 restricted share units (the "
RSUs
") to
certain directors and officers of the Company pursuant to its equity incentive plan. The RSUs will vest as
follows: one-third (1/3) on the first anniversary of the date of grant, one-third (1/3) on the second
anniversary of the date of grant, and the remaining one-third (1/3) on the third anniversary of the date of
grant, subject to the terms of the Company's equity incentive plan and applicable award agreements.
All securities issued pursuant to the Options and RSUs are subject to applicable hold periods in
accordance with Canadian securities laws and the policies of the CSE.
References:
1
.
First Majestic Silver Corp.. (2026, April 2).
First Majestic announces restart plan for Jerritt Canyon gold mine
.
https://www.firstmajestic.com/investors/news-releases/first-majestic-announces-restart-plan-for-jerritt-canyon-gold-mine
2
.
Ghiglieri, R., & Patterson, L. (2025).
Major mines of Nevada 2024: Mineral industries in Nevada's economy
(Nevada Bureau of Mines and
Geology Special Publication P-36). University of Nevada, Reno.
3
.
Henry, C.D. and Boden, D.R., (1998), Geologic Map of the Mount Blitzen Quadrangle Nevada, Nevada Bureau of Mines and Geology, Map
110, 1:24,000.
4
.
Jowitt, S. M., Micander, R., Richards, M., & Reynolds, D. (2023).
The Nevada mineral industry 2022
(Nevada Bureau of Mines and Geology
Special Publication MI-2022). University of Nevada, Reno.
5
.
Wright, J.L. (2026).
Tuscarora Property CSAMT Survey – 2026 GIS Database.
Report prepared for ICG Resources Ltd., J.L. Wright
Geophysics, January 9, 2026.
Disclosure on Sampling Data
Figures shown include historical data and data collected by the Company. Historical sampling programs
were conducted by various operators and may not meet current QA/QC standards as defined under
National Instrument 43-101. The Company has not verified all historical sampling data and such
information should be considered indicative only. Any future work conducted by the Company will
incorporate industry-standard QA/QC protocols.
QP STATEMENT
The scientific and technical information contained in this news release has been reviewed and approved
by Steven L. McMillin, P.G., of Rangefront Mining Services, a "Qualified Person" as defined by National
Instrument 43-101 – Standards of Disclosure for Mineral Projects and independent consultant to the
Company.
About ICG Silver & Gold Ltd.
ICG Silver & Gold Ltd. is a new mineral exploration and development company advancing the Tuscarora
District in northern Nevada. The Company's strategy is centered on:
Advancing the Tuscarora District through systematic exploration and technical studies;
Building a district-scale geological model; and
Progressing the project toward resource definition and future development.
The Tuscarora District is a silver-gold epithermal system located on the Carlin Trend, approximately one
hour northwest of Elko, Nevada. ICG controls 100% of the approximately 10,000-acre land package,
which has extensive rock chip sampling, thousands of meters of reverse circulation and core drilling, and
tens of kilometers of CSAMT geophysics completed on the property. ICG fundamentally believes in the
long-term value of precious metals exploration, especially silver and gold, and is led by a technical and
management team with extensive experience in exploration, permitting, capital markets, and
development of mining projects in the Western United States, including Nevada.
On Behalf of ICG Silver & Gold Ltd. Board of Directors:
Steven Sirbovan, President, CEO & Director
Corporate Office: 82 Richmond Street East, Toronto, ON, M5C 1P1
Investor relations contact:
Kristina Pillon, High Tide Consulting Corp.
604.908.1695 /
The Canadian Securities Exchange has neither approved nor disapproved the contents of this
news release.
Forward-looking Information
This news release includes certain statements that may be deemed "forward-looking statements". All
statements in this news release, other than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential"
and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Forward-looking statements in this news release include, without limitation, statements related to ICG's
exploration plans; the potential for shared or overlapped mineralizing episodes; the identification of
feeder structures and structural controls on mineralization; the Company's strategy to consolidate and
control a district-scale land position; and the vesting of stock options and restricted share units.
Although the Company believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward-looking statements. Factors that could
cause the actual results to differ materially from those in forward-looking statements include market
prices, continued availability of capital and financing, exploration risks and uncertainties, the ability to
obtain necessary permits and regulatory approvals, changes in environmental and other applicable
legislation, the uncertainty of mineral exploration and development, title risks, reliance on key
personnel, and general economic, market or business conditions. Investors are cautioned that any
such statements are not guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking statements. Forward-looking statements
are based on the beliefs, estimates and opinions of the Company's management on the date the
statements are made. Except as required by applicable securities laws, the Company undertakes no
obligation to update these forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
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