Safi Silver Provides Update on Addana Drilling Program in Morocco
FOR IMMEDIATE RELEASE
Safi Silver Provides Update on Addana Drilling Program in
Morocco
TORONTO, ONTARIO, May 19, 2026 – Safi Silver Corp. (TSX-V: SF, OTCPK: PNTZF)
(“Safi Silver”, “Safi Silver Corp.” or the “Company”) is pleased to provide investors with
an operational update on the ongoing diamond drilling program at the Company’s Addana
Project in Morocco.
Drilling is complete on the first hole of the Addana campaign, and has commenced on the
second hole. Hole #2 is expected to be completed before May 23. The current phase of
drilling is focused on targets located in the southwestern portion of the Addana property,
where historical work and recent field mapping have identified structurally controlled
mineralized zones in quartz -carbonate veins, considered highly prospective for
polymetallic silver mineralization.
The Company reports that drilling operations have progressed smoothly to date .
Recovery of d rill core and geological logging is meeting the Company’s expectations.
Once recovered, t he core is systematically processed, photographed, logged, and
prepared for sampling at the Company’s new and secure facilities in the town of Igdi prior
to shipment for analytical testing.
Samples from the Addana drilling program will be analyzed by Afrilab, a SGS and ISO-
certified independent analytical laboratory located in Marrakech, Morocco. The laboratory
has previously been utilized by the Company for exploration programs within Morocco
and provides internationally recognized analytical services for precious and base metal
exploration projects. Afrilab utilizes fire assay, atomic absorption spectroscopy (AAS),
and inductively coupled plasma mass spectrometry (ICP -MS). Such methods are i deal
for this program, given the precious and base metals mineralization targeted at Addana.
Figure 1: Safi Silver Corp. President and CEO, Jed Richardson viewing recovered
drill core on site at Hole #1
Figure 2: Geosond Maroc during the drilling of Hole #1 in the SW area of
Addana
Dr. Andreas Rompel, Safi Silver ’s Chief Exploration Officer, commented, “We are
encouraged by the progress of the drill program thus far and pleased with the
professionalism and efficiency of the local operating teams . As core is recovered, it is
being geologically logged and sampled in batches to maintain a consistent flow of material
to the laboratory. This approach allows us to maintain strong quality control procedures
while ensuring timely assay turnaround as the program advances.”
Jed Richardson , President and CEO of Safi SIlver Corp. added, “Drilling at Addana
represents another important milestone in Safi Silver’s transition toward becoming a
focused Moroccan polymetallic silver exploration company. We are particularly pleased
to see the program advancing steadily, with the second hole anticipated to begin shortly.
Safi Silver’s is in a unique position to continue advancing our work in Morocco due to the
sale of our ownership interest in the Kombat Mine.”
The initial drill program at Addana is designed to test priority targets identified through
historical exploration, surface sampling, geological mapping, and structural interpretation.
The Company expects to provide additional operational updates as drilli ng progresses
and assay results become available.
Qualified Person
The scientific and technical information contained in this news release has been reviewed
and approved by Dr. Andreas Rompel, (Pr.Sci.Nat., FSAIMM)., Chief Exploration of Safi
Silver, who is a “Qualified Person” as defined under National Instrument 43 -101 –
Standards of Disclosure for Mineral Projects.
About Safi Silver
Safi Silver Corp. is a publicly traded Canadian exploration and development company
with a core focus on copper and silver holdings in mining-friendly African jurisdictions. In
Morocco, the Company is advancing two exploration projects: Addana, which hosts
silver-bearing polymetallic veins, and Silver Hill , a sedimentary copper prospect
undergoing ongoing evaluation. In Namibia, Safi Silver holds the Kalahari Copperbelt
Project.
Cautionary Notes
This news release may contain forward -looking statements. These statements include
statements regarding the drilling program, at Addana, the mineralization and prospectivity
of the Addana Project , the anticipated benefits of the Company’s strategic focus on its
Moroccan silver projects, and the Company’s future plans and objectives. These
statements are based on current expectations and assumptions that are subject to risks
and uncertainties. Actual results could differ materially because of factors discussed in
the management discussion and analysis section of our interim and most recent annual
financial statements or other reports and filings with the TSX Venture Exchange and
applicable Canadian securities regulations. We do not assume any obligation to update
any forward-looking statements, except as required by applicable laws.
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.
For further information, contact Tom Panoulias, VP Corporate Development:
+1 (647) 276-6002 x 1127
Website: www.safisilver.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jed Richardson
President & CEO