Outcrop Silver Adds Third Drill Rig at Santa Ana to Expand Discovery Potential Beyond Current Resource Update
OUTCROP SILVER ADDS THIRD DRILL RIG AT
SANTA ANA TO EXPAND DISCOVERY
POTENTIAL BEYOND CURRENT RESOURCE
UPDATE
VANCOUVER, BC
,
June 24, 2025
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG)
("Outcrop Silver")
is pleased to announce the addition of a third
drill rig at its flagship Santa Ana high-grade silver project in
Colombia
. This new rig will be dedicated
exclusively to accelerating new discovery drilling beyond the Company's current 24,000-metre
resource expansion program, which remains fully funded, on time, and on budget.
As of
June 23, 2025
, Outcrop Silver has completed over 12,300 metres of drilling—reaching the
halfway point of the 24,000-metre campaign—at 107% of forecast. The ongoing program is focused
on expanding the existing resource base and incorporating newly discovered veins into the next
mineral resource update targeted for Q1 2026. Veins prioritized for inclusion include Los Mangos,
Aguilar, Jimenez, Guadual,
Alaska
, and La Ye.
The decision to add a third rig is driven by two key factors: exceptional results in resource drilling to
date, and significant progress on surface access across the district. In the first half of 2025 alone,
Outcrop Silver secured 170 new land-use agreements—already exceeding the 113 signed in all of
2024—due to strong community relationships and local team leadership. These agreements support
not only the current drill program but also future exploration through expanded access for soil
sampling, mapping, and drill platform construction.
The new rig will focus on high-priority discovery targets across Santa Ana's fully permitted 17-
kilometre corridor, including historically significant areas such as Frias. The goal is to bring forward a
pipeline of new discoveries that can support the Company's long-term growth strategy and
subsequent mineral resource updates beyond the current campaign.
"The original 24,000-metre program is fully funded, on time, and on budget," commented
Ian Harris
,
President & CEO. "Adding a third rig reflects the strength of our results to date and allows us to
accelerate discovery drilling beyond the current resource update. With growing local support and
expanding access, we're putting ourselves in position to deliver value well into the future."
Outcrop Silver remains committed to delivering high-grade silver discoveries while upholding the
highest standards of technical excellence, community engagement, and environmental responsibility.
Qualified Person
Edwin Naranjo Sierra
is the designated Qualified Person within the meaning of the National
Instrument 43-101 and has reviewed and approved the technical information in this news release.
Mr. Naranjo holds an MSc. in Earth Sciences and is a Fellow of the Australasian Institute of Mining
and Metallurgy (FAusIMM). Mr.
Naranjo Sierra
is a consultant to the Company and is therefore
independent for the purposes of NI 43-101.
About Santa Ana
The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through
titles and applications, known as the largest and highest-grade primary silver district in
Colombia
with mining records dating back to 1585.
Santa Ana's maiden resource estimate, detailed in the NI 43-101 Technical Report titled "Santa Ana
Property Mineral Resource Estimate," dated
June 8, 2023
, prepared by AMC Mining Consultants,
indicates an estimated indicated resource of 1,226 thousand tonnes containing 24.2 million ounces
silver equivalent
1
at a grade of 614 grams per tonne and an inferred resource of 966 thousand
tonnes containing 13.5 million ounces at a grade of 435 grams per tonne of silver equivalent
1
. The
identified resources span seven major vein systems that include multiple parallel veins and ore
shoots: Santa Ana (
San Antonio
,
Roberto Tovar
,
San Juan
shoots); La Porfia (La Ivana); El Dorado
(El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.
The drilling campaign aims to extend known mineralization and test new high-potential areas along
the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's
exploration strategy aims to demonstrate a clear pathway to substantially expand the resource.
These efforts underscore the scalability of Santa Ana and its potential for substantial resource
growth, positioning the project to develop into a high-grade, economically viable, and environmentally
responsible silver mine.
1
Silver Equivalent
Metal prices used for equivalent calculations were
US$1,800
/oz for gold, and
US$25
/oz for silver.
Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93%
for silver (see news release dated
August 23, 2023
). The equivalency formula is as follows:
Equivalency formula (CNW Group/Outcrop Silver & Gold Corporation)
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-
grade silver project in
Colombia
. Leveraging a disciplined and seasoned team of professionals with
decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral
resources through strategic exploration initiatives.
At the core of our operations is a commitment to responsible mining practices and community
engagement, underscoring our approach to sustainable development. Our expertise in navigating
complex geological and market conditions enables us to consistently identify and capitalize on
opportunities to enhance shareholder value. With a deep understanding of the Colombian mining
landscape and a track record of successful exploration, Outcrop Silver is poised to transform the
Santa Ana project into a significant silver producer, contributing positively to the local economy and
setting new standards in the mining industry.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain information contained herein constitutes "forward-looking information" under Canadian
securities legislation. Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "potential," "we believe," or variations of such words and
phrases or statements that certain actions, events or results "will" occur. Forward-looking
statements are based on the opinions and estimates of management as of the date such
statements are made and they are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Outcrop
Silver to be materially different from those expressed or implied by such forward-looking
statements or forward-looking information, including: the receipt of all necessary regulatory
approvals, capital expenditures and other costs, financing and additional capital requirements,
completion of due diligence, general economic, market and business conditions, new legislation,
uncertainties resulting from potential delays or changes in plans, political uncertainties, and the
state of the securities markets generally. Although management of Outcrop Silver have attempted
to identify important factors that could cause actual results to differ materially from those contained
in forward-looking statements or forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance
on forward-looking statements and forward-looking information. Outcrop Silver will not update any
forward-looking statements or forward-looking information that are incorporated by reference.
SOURCE
Outcrop Silver & Gold Corporation
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For further information:
Ian Harris, Chief Executive Officer, +1 604 638 2545,
[email protected], www.outcropsilver.com; Kathy Li, Vice President of Investor Relations,
+1 778 783 2818, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 07:30e 24-JUN-25