Mercado Minerals Provides Update on LOI Signed with Concordia Silver - Pursues Two Projects within the Emerging Western Mexico Silver Belt of the Prolific Sierra Madre Occidental
Trading Symbol (CSE: MERC)
615-625 Howe Street
Vancouver, British Columbia
Canada V6C 2T6
Tel: (604) 353 4080
www.mercadominerals.com
Mercado Minerals Provides Update on LOI Signed with Concordia Silver - Pursues Two
Projects within the Emerging Western Mexico Silver Belt of the Prolific Sierra Madre
Occidental
Vancouver, BC, July 28, 2025 – Mercado Minerals Ltd. (CSE: MERC) (" Mercado" or the
"Company") is pleased to provide an update to the letter of intent (the “LOI”), dated June 6, 2025, with
Concordia Silver Company S.A. DE C.V. (“Concordia”), an arms-length party. (See news release dated
June 11, 2025). Pursuant to the LOI, Mercado intends to acquire 100% of Concordia and its underlying
property rights in Mexico, including the Copalito property and the Zamora property. Both properties are
located along the western side of the Sierra Madre Occidental, a world class mining district host to many
silver and gold deposits.
Daniel Rodriguez, CEO and Director, stated, “To have the opportunity to secure a district scale land
position over such a large number of high grade vein occurrences that have never been drilled at
Zamora is exactly the type of prospective potential we want to provide our shareholders. We see an
immense opportunity in both properties with existing drill results or the lack of them, indicating we have
the potential to make further discoveries and create value for our shareholders. We continue to compile
data and complete our due diligence on both properties and on Concordia in preparation for the signing
of a definitive agreement and future exploration.”
Copalito Project
The Copalito project presents a district scale opportunity with known and drilled silver – gold low
sulphidation vein mineralization that is open for expansion. Historical third-party high grade silver and
significant gold and base metal drill intercepts include; 347 g/t silver, 0.22 g/t gold, 0.18% lead and
0.38% zinc over 13.10 m in BDH-20-004 and 125 g/t silver, 2.00 g/t gold, 0.34% lead and 0.58%
zinc over 23.00 m in BDH-21-055 . Under the terms of the LOI, Mercado will acquire an option to
purchase seven concessions covering 2,820 Ha. Six principle known veins on the project have a
cumulative strike length of over 8 km. The Copalito project is located approximately 123 km northeast
of Culiacan, Sinaloa. The property has good access, moderate topography, and infrastructure nearby.
The neighbouring property to Copalito is McEwen Mining’s “El Gallo mine” complex, located 35 km to
the west. Kootenay Silver Inc. (“Kootenay”) was the most recent operator of the Copalito project.
Kootenay successfully explored and drilled 81 diamond drill holes on the property, over 6 veins of
primary interest. This historical drilling has only tested approximately 60% of strike of the veins and only
to an average depth of 100 m. Mercado has also acquired the existing drill data, which provides an
excellent base for future exploration drill targeting of higher and thicker grade portions of veins along
strike and to depth.
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Table 1 – Copalito Property Significant Historical Drill Intersections1,2
1Silver-equivalent values are calculated assuming typical recoveries based on metallurgical studies conducted on analogous
epithermal vein deposits and are not necessarily reflective of metallurgy on the property. No metallurgical work has been
reported on the property. The recoveries used are 91% silver, 94% gold, 70% lead, 75% zinc and 80% copper. The silver –
equivalent formula is: ((24 * silver (g/t)*0.91 / 31.1035) + (1900 * gold (g/t)*0.94 / 31.1035) + (0.90 * 2204 * lead %*0.7/100) +
(1.10 * 2204 * zinc %*0.75/100) + (4.00*2204*copper %*0.8/100)) *(31.1035 / 24). Metal price assumptions are US$24/oz
silver, US$1900/oz gold, US$0.90/lb lead, US$1.10/lb zinc and US$4.00/lb copper. Copper values are only included in the
calculation of silver-equivalence for a mineralized intercept where the intercept contains at least one copper value that exceeds
0.1% copper. Numbers may not match due to rounding.
2True widths are unknown.
The technical information and data for the Copalito property appears to be of a good standard. However,
the QP has not conducted sufficient work to independently validate the assay drill core results.
Therefore, the Company is treating the Copalito results as historical in nature and are not to be relied
on. The QP will independently verify results of the historic work during a site visit later this year.
Vein Hole From (m) To (m) Interval (m) Ag (g/t) Au (g/t) Pb (%) Zn (%) Cu (%) AgEq (g/t) 1
BDH-20-004 54.00 67.10 13.10 347 0.22 0.18 0.38 - 375
5 Señores incl. 57.78 61.00 3.22 1297 0.29 0.36 0.47 - 1,336
and incl. 60.00 61.00 1.00 2830 0.15 0.77 1.33 - 2,886
BDH-20-037 42.00 52.00 10.00 128 0.66 0.22 0.91 - 203
5 Señores incl. 45.75 48.00 2.25 484 2.19 0.58 2.29 - 711
and incl. 47.00 48.00 1.00 846 3.11 1.18 4.97 - 1,216
BDH-20-040 26.00 35.05 9.05 124 2.09 0.16 0.64 - 297
5 Señores incl. 31.00 33.25 2.25 335 6.65 0.51 2.12 - 889
and incl. 32.12 32.63 0.51 369 16.95 0.66 3.08 - 1,715
BDH-21-042 15.00 36.00 21.00 178 0.19 0.23 0.58 - 210
5 Señores incl. 25.50 36.00 10.50 334 0.35 0.43 1.04 - 392
and incl. 30.00 31.18 1.18 1965 0.58 1.95 4.40 - 2,146
BDH-21-046 35.04 54.47 19.43 218 0.83 0.38 1.10 - 312
incl. 46.50 54.47 7.97 330 1.24 0.51 1.45 - 466
5 Señores and incl. 46.50 46.72 0.22 3160 2.27 2.12 5.72 - 3,501
63.00 78.00 15.00 61 0.75 0.10 0.29 - 126
incl. 63.00 65.00 2.00 220 3.80 0.09 0.27 - 510
BDH-21-048 51.00 63.00 12.00 66 0.17 0.20 0.61 - 97
5 Señores incl. 56.30 58.50 2.20 241 0.42 0.11 0.74 - 292
and incl. 56.30 56.76 0.46 335 1.04 0.05 0.50 - 425
and incl. 57.12 57.39 0.27 318 0.79 0.51 2.46 - 444
Agua BDH-20-006 1.50 3.05 1.55 303 0.06 0.07 0.07 - 311
BDH-21-055 78.00 101.00 23.00 125 2.00 0.34 0.58 - 294
Agua incl. 78.00 83.00 5.00 28 9.26 0.20 0.37 - 729
and incl. 81.00 81.65 0.65 29 21.10 0.09 0.26 - 1,607
incl. 97.00 100.00 3.00 587 0.82 0.64 0.94 - 682
BDH-21-056 50.00 71.00 21.00 101 0.22 0.25 0.61 - 137
Agua incl. 53.00 61.50 8.50 212 0.32 0.23 0.55 - 252
and incl. 60.00 61.50 1.50 440 0.48 0.31 0.62 - 496
BDH-20-009 33.00 51.00 18.00 63 0.15 0.14 0.60 - 91
Chiva incl. 33.00 34.00 1.00 936 0.29 1.02 2.29 - 1,030
BDH-21-063 29.68 31.50 1.82 86 0.92 2.37 3.09 - 270
Chiva incl. 29.68 30.00 0.32 453 4.49 12.70 14.35 - 1,354
BDH-21-073 120.00 124.40 4.40 13 1.04 0.70 1.65 0.05 146
Pilar incl. 120.88 121.12 0.24 31 1.93 3.98 7.87 0.10 440
incl. 123.50 124.40 0.90 14 4.36 2.09 4.03 0.22 491
BDH-21-074 85.00 90.30 5.30 19 1.09 0.95 2.62 - 179
Pilar incl. 88.50 89.40 0.90 20 4.01 0.85 1.30 - 365
BDH-21-075 68.00 78.00 10.00 14 0.72 0.41 1.26 - 105
Pilar incl. 68.35 69.20 0.85 103 5.20 4.13 11.81 - 842
BDH-20-022 15.00 21.35 6.35 40 0.15 0.02 0.05 0.17 68
Corbriza incl. 18.30 19.00 0.70 307 0.15 0.06 0.09 1.27 438
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Zamora Project
The Zamora project and greater area presents district scale potential that, according to available historic
reports, has never been drilled. Under the terms of the LOI with Concordia, Mercado will acquire four
(4) concessions covering 378 Ha, which covers small scale historic underground production at
Campanillas, and the right to potentially bring another 2,999 Ha of concessions back into good standing
with the government, thereby securing title. If successful, Mercado will own a total of 3,377 Ha covering
a cumulative strike length of over 8 km of structures with 14 historic high grade silver gold mines on
them (Table 3).
Historic sampling by the previous operators on concessions currently under LOI and controlled by
Concordia includes results from underground workings at Campanillas that returned 14,561 g/t silver
and 15.53 g/t gold from a grab sample (Table 2). Additional sampling at El Triunfo returned 286 g/t
silver and 2.54 g/t gold over 1.00 m , while a soil sample near the Periguete workings is reported to
have returned 8.00 g/t gold.
Table 2 - Zamora Project Significant Historical Rock Sample Results
Table 3 - Zamora Surrounding Area Significant Historical Rock Sample Results3
3These results are from outside current concessions held by Concordia and in the process of bringing the
claims back into good standing. The reader is cautioned that the results are of a historic nature, have not
been verified by the QP and are not to be relied on. There is no guarantee that Mercado will be successful
in bringing the extended area of concessions back into good standing and thereby secure title. The results
from the area surrounding Zamora are not necessarily indicative of the mineralization on the Zamora
property.
Vein Sample Type Interval (m) Ag (g/t) Au (g/t) AgEq (g/t) 1
Campanillas stockpile-grab - 14,561 15.53 14,406
Campanillas grab - 1,104 2.20 1,168
Campanillas grab - 383 1.00 423
El Triunfo channel 1.00 286 2.54 449
El Triunfo chip - 174 1.08 238
Periguete soil sample - - 8.00 595
Vein Sample Type Interval (m) Ag (g/t) Au (g/t) AgEq (g/t) 1
Los Olotes channel 0.50 6,600 44.00 9,280
Los Olotes channel 1.60 3,150 13.40 3,864
La Camichina channel 0.80 5,100 23.50 6,390
La Camichina channel 0.80 1,303 2.70 1,387
Zamora Vein channel 1.60 3,150 13.40 3,864
Zamora Vein channel 1.30 2,320 8.20 2,721
Zamora Vein channel 1.10 1,760 9.50 2,309
Zamora Vein channel 1.00 173 28.00 2,241
Zamora Vein channel 1.00 1,250 11.00 1,956
Zamora Vein channel 1.10 100 12.80 1,043
Zamora Vein channel 1.50 1,102 3.60 1,271
Aguamas channel 3.00 28 13.07 998
Including channel 1.00 53 25.25 1,928
Aguamas grab - 98 34.05 2,623
Aguamas grab - 192 14.87 1,281
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The technical information and data for the Zamora property appears to be of a good standard. However,
the QP has not conducted sufficient work to independently validate the assay rock sample results from
Zamora. Therefore, the Company is treating the Zamora results as historical in nature and are not to be
relied on. The QP will independently verify results of the historic work during a site visit later this year.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral
Projects) and reviewed and approved on behalf of Mercado by Thomas Hawkins P.Geo, Qualified
Person.
About Mercado Minerals Ltd.
Mercado Minerals Ltd. (CSE: MERC) is a company involved in the business of acquiring and exploring
mineral properties in the Americas. Mercado has been primarily involved in the exploration and
evaluation of the Porter Property, located within the Alberni Mining Divisions of British Columbia.
For further information, contact:
Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: [email protected]
John Fraser
VP Business Development & Director
Phone: (604) 838-7677
Email: [email protected]
Forward-Looking Statement (Safe Harbor Statement):
This press release contains forward-looking statements within the meaning of applicable securities laws. The use
of any of the words "anticipate," "plan," "continue," "expect," "estimate," "objective," "may," "will," "project,"
"should," "predict," "potential" and similar expressions are intended to identify forward-looking statements. In
particular, this press release contains forward-looking statements, including but limited to, the signing of a
definitive agreement with Concordia and the Company’s exploration plans. Although the Company believes that
the expectations and assumptions on which the forward-looking statements are based are reasonable, undue
reliance should not be placed on these statements because the Company cannot provide assurance that they will
prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ
materially from those anticipated. Factors that could cause actual results to differ include conditions in equity
financing markets, and receipt of regulatory and shareholder approvals. These forward-looking statements are
made as of the date of this press release, and, except as required by law, the Company disclaims any intent or
obligation to update publicly any forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.