Magma Silver Plans Drill Program at Niñobamba
Magma Silver Plans Drill Program at Niñobamba
Vancouver, British Columbia--(December 1st, 2025) - Magma Silver Corp. (TSXV: MGMA) (OTCQB:
MAGMF) (FSE: BC21) (WKN: A411DV) (the " Company" or "Magma") is pleased to provide an
update on the planned drill program for Q1 2026. The drill program will consist of two phases
with a total of 4,000 metres.
Stephen Barley, Chairman and CEO , stated: “ The commencing of a drill program at Ninobamba
is exciting and a major accomplishment. Newmont Mining Corp. (“Newmont”) spent US$7 m in
historical work including 65 diamond drill holes with a focus on the Joramina zone. The drilling in
conjunction with other extensive exploration activities, including a fatal flaw analysis, led to a
positive internal report in 2011 with a significant conceptual non -complaint gold and silver
resource. Magma has all Newmont work pro gram results including drill logs, assay reports, and
drill collar locations. These documents have provided Magma with a tremendous project
knowledge advantage that increases the level of certainty in drill location and orientation
providing the Company’s technical team with the information to design a drill program to confirm
the Newmont results and to optimize the drilling program. This is a tremendous saving in terms
of time and expenditures.”
The Company’s geologists have reviewed historical drilling conducted by Newmont and
determined that the drilling was not oriented in the most optimal direction. The Company plans
to modify the current permit to reflect the new drill sites. Adding or modifying new drill pads is
permitted by the mining ministry in Peru as the new pads will be located in the area covered by
the existing permit. Phase 1 will consist of 2 ,000 meters of drilling from Pad A. The purpose of
the initial drilling is to determine the orientation and size of the gold zone intersected by
Newmont. For reference, h ole JOR -001 drilled in 2010 returned 72.3 metres of 1.19 g/t Au
starting at a depth of 53 metres. The true widths of mineralization from this drill hole cannot be
determined from a single hole. Further drilling is required to determine both the lateral and
vertical extent of the mineralization intersected.
Phase 2 will be contingent on results from Phase 1 . Phase 2 is planned to extend the Au -Ag
mineralization. This phase will also test previously undrilled Au-Ag surface anomalies outlined by
Newmont and confirmed by the Company’s geologist. The drilling will also test the Au -Ag
mineralization exposed in a 160 m adit recently sampled by the Company. Drift sampling on the
Joramina zone returned 10 metres of 2.32 grams per tonne gold and a five -metre composite
returning 4.085 ounces (115.8 g) per ton of silver.
Proposed Expanded Exploration Program
Magma has allocated US$1,000,000 (CAD$1,400,000) for the Joramina exploration and drill
program. This is a significant increase from the original drilling plan and is expected to allow the
Company to thoroughly test and confirm the Newmont drilling results. Magma’s experienced
technical team is currently planning the entire work program in conjunction with an
independent NI 43-101 geologist. Magma will issue a news release outlining the Joramina
program, drill locations and timing when it is available.
The following diagram shows the proposed drill program. Pad A is where the initial drilling will
commence.
Qualified Person
Jeffrey Reeder, P.Geo, a qualified person as defined in National Instrument 43 -101 and a Senior
Technical Advisor of the Company, has prepared, supervised the preparation o f, and approved
the scientific and technical disclosure contained in this news release.
AGORACOM
The Company also announces that it has issued 128,409 common shares to AGORA Internet
Relations Corp. in accordance with the investor relations services agreement previously disclosed
on August 28, 2025.
About Magma Silver Corp.
Magma Silver Corp. is a natural resources exploration company focused on acquiring, exploring,
developing, and operating precious metal mining projects. Listed on the TSV Venture Exchange
("MGMA"), OTCQB ("MAGMF"), and Frankfurt Exchange ("BC21"), the Company's primary focus
is on exploring and developing the advanced Niñobamba silver-gold project in the mining-friendly
country of Peru. Niñobamba spans an 8 km mineralized corridor in a prolific geological belt of
a high-sulphidation epithermal system . Extensive exploration by Newmont Corporation,
AngloGold Ashanti Limited, Bear Creek Mining Corporation and Rio Silver, has demonstrated
significant resource potential with over C$14.5 million invested to date. Magma is advancing its
Niñobamba project using modern geological modelling and a strategic development plan. The
property has excellent infrastructure, strong relationships with local communities and a regional
technical team with over 50 years of mining experience in Peru.
For more information, please visit our website at www.magmasilver.com.
Contact Information
Stephen Barley, Chairman & CEO
Phone: +1 (604) 988-5870
Email: [email protected]
Website: www.magmasilver.com
X: @MagmaSilverCorp
Jason Baker, CFO & Director
Phone: +1 (604) 988-5870
Email: [email protected]
Website: www.magmasilver.com
X: @MagmaSilverCorp
Reader Advisory
This news release may contain forward -looking information within the meaning of applicable
securities laws. All information and statements other than statements of current or historical
facts contained in this news release are forward -looking information. Forward -looking
statements are subject to various risks and uncertainties concerning the specific factors disclosed
here and elsewhere in Magma Silver Corp.'s periodic filings with Canadian securities regulators.
When used in this news release, words such as "will", "could", "plan", "estimate", "expect",
"intend", "may", "potential", "should," and similar expressions are forward -looking statements.
The information provided in this document is necessarily summarized and may not contain all
available material information. Forward-looking statements include those in relation to (i) the
planned drill program for Q1 2026, including its phases, scope, and objectives; (ii) the Company’s
intention to modify the current permit to reflect new drill sites; ( iii) the Co mpany’s plans to
further test and evaluate mineralisation identified in previous drilling by Newmont; and (iv) the
timing of future news releases regarding the Joramina program, drill locations, and program
commencement. Although the Company believes the expectations reflected in such forward-
looking statements are based on reasonable assumptions, it can't make any assurances that its
expectations will be achieved. Such assumptions may prove incorrect. Although the Company
has attempted to identify important factors that co uld cause actual results, performance, or
achievements to differ materially from those contained in the forward-looking statements, there
can be other factors that cause results, performance, or achievements not to be as anticipated,
estimated, or intended . There can be no assurance that such information will prove to be
accurate or that management's expectations or estimates of future developments,
circumstances, or results will materialize. As a result of these risks and uncertainties, no
assurance can be given that any events anticipated by the forward- looking information in this
news release will transpire or occur, or, if any of them do so, what benefits that the Company will
derive therefrom. Accordingly, readers should not place undue reliance on forward -looking
statements. The forward-looking statements in this news release are made as of the date of this
news release, and the Company disclaims any intention or obligation to update or revise such
information, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.