Silverco Mining Expands on San Miguel Target, Drilling 8.6m grading 250g/t AgEq and 2.1m grading 1,042 g/t AgEq at the Cusi Property, Chihuahua, Mexico 2025 San Miguel Drilling Highlights

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Silverco Mining Expands on San Miguel Target, Drilling 8.6m grading 250g/t AgEq and 2.1m

grading 1,042 g/t AgEq at the Cusi Property, Chihuahua, Mexico

2025 San Miguel Drilling Highlights

• 250 g/t AgEq over 8.6 metres

• 1,042 g/t AgEq over 2.1 metres

• 365 g/t AgEq over 4.9 metres

• 1,868 g/t AgEq over 1.4 metres

• 422 g/t AgEq over 2.7 metres

• 359 g/t AgEq over 3.8 metres

Vancouver, British Columbia – November 11, 2025 – Silverco Mining Ltd. (“Silverco” or the

“Company”) (TSXV: SICO) is pleased to report initial assay results from its 15,000 metre 2025

diamond drill program at the Company’s 100%-owned Cusi Property (“Cusi”), located

approximately 90 kilometres northwest of First Majestic’s Los Gatos Mine in Chihuahua, Mexico.

Cusi was in commercial production until September 2023, when it was placed on care and

maintenance. The Company acquired Cusi and completed an initial 5,000m drill program in 2024,

the results of which are outlined in the October 30, 2025 news release. Silverco’s ongoing 15,000-

metre drill program is primarily focused on expanding the potential of its San Miguel target, to form

the basis for an expanded, higher-grade resource base.

Drilling at San Miguel was completed in approximately 50 metre step outs from 2024 and historical

drilling. Initial results have been very successful, with nearly all holes drilled intersecting significant

mineralization. Hole CU-25-29 intersected 8.6 metres of 250 g/t AgEq over the main San Miguel

vein in an approximate 60 metre step out below last year’s key intercept in CU-24-08 of 7.5 metres

at 364 g/t AgEq. Hole Cu-25-25 which was drilled 115 metres east of CU-25-29, intersected 4.9

metres at 365 g/t AgEq at approximately the same elevation as the intercept in CU-25-29. Both

holes also had significant high-grade hits in an oƯshoot from the main vein, with 2.1 meters of

1,042 g/t AgEq in CU-25-29 and 1.4 meters of 1,868 g/t AgEq in CU-25-25.

Mark Ayranto, CEO of Silverco, commented:

“Drilling at San Miguel continues to showcase significant vein widths at high grade. The initial

results from our 2025 program have confirmed the potential for not only large tonnages at San

Miguel, but also continuous sections of very-high grade. We believe that San Miguel will provide

the foundation for achieving increased production from Cusi in a potential restart next year”

“Our program has successfully extended the depth of the San Miguel system by approximately 100

metres. With significant mineralization being intersected in nearly all holes, we believe that the

continuity of the zone will be amenable to high productivity mining methods. The San Miguel vein

system has been traced upwards of 1,300 metres in historical mapping, drilling and workings, but

Silverco’s drilling has been limited to a strike of 260 metres to date. Limited historical drilling was

typically shallow, intersecting the vein on average at 100 metres depth. Silverco’s drilling has

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intersected the vein at depths of up to 300m with increasing vein widths. The veins remain

completely open at depth and laterally, and we are currently working on adding to these results

through further step out drilling. ”

Details of the 2025 Drill Program

The 2025 program consists of 15,000 metres of surface diamond drilling. The program is

approximately two thirds complete. Receipt of assays is expected to continue in the current quarter

and into the first quarter of 2026. The 2025 program is primarily focused on following up on the San

Miguel results from 2024, with the aim of extending vein along strike and at depth. In addition, some

exploratory and infill drilling of the downthrown blocks on the property are planned. Drilling was

performed from surface by a local contractor, utilizing portable drill rigs. All core was HQ in size for

holes up to 400 metres in depth. Any holes beyond this depth were switched to NQ upon reaching

400 metres.

Figure 1: 2025 San Miguel Drill Program Collar Locations

San Miguel Vein - Inset Claims Target

With the acquisition of the Cusi Property, the Company additionally acquired and consolidated two

inset claims along the San Miguel vein system. These claims had been in dispute since 2007 and no

exploration work had been performed since 2007. This area has a small open pit mine at surface

(~30m depth) and minor underground workings from historical mining, assumed to be pre-2000s.

The mineralization at the San Miguel vein system is hosted within a sequence of rhyolite lapilli tuƯ.

The host rock is characterized by strong to moderate silicification and local oxidation and chlorite

alteration, indicating a significant hydrothermal system was active in the area.

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The mineralized structures consist of a series of steeply-dipping, parallel veins, primarily presenting

as a hydrothermal breccia. This breccia is a fractured and cemented rock, with fragments of the

host rock and angular quartz clasts cemented by silica. Vein widths are variable, ranging from less

than 1.0m to exceeding 5.0m, and are steeply dipping at 70-80o.

Figure 2: 2025 San Miguel Drill Program Collar Locations

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Figure 3: San Miguel Long Section +/- 50m, Looking WNW

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Figure 4: CU-25-29 Cross Section +/- 40m, Looking W

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Figure 5: CU-25-25 Cross Section +/- 40m, Looking W

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Detailed drill results, along with notable assays results are provided in Tables 1 and 2.

Table 1: Significant Assay Results from the 2025 Drill Program

Hole ID Zone From (m) To (m) Length (m) (2) Au g/t Ag g/t Pb % Zn % AgEq g/t (1)

CU-25-15 San Miguel 206.9 208.6 1.8 0.13 198 0.09 0.05 186

CU-25-16 Promontorio No Significant intercept

CU-25-17 Promontorio No Significant intercept

CU-25-18 San Miguel 177.0 179.5 2.4 0.11 229 1.49 1.87 276

CU-25-18 San Miguel 249.9 253.3 3.5 0.17 139 2.20 3.22 237

CU-25-19 San Miguel 168.5 169.5 1.0 0.10 97 1.93 4.97 223

CU-25-19 San Miguel 214.5 216.0 1.5 0.08 101 1.56 1.93 162

CU-25-19 San Miguel 276.0 279.8 3.8 0.08 351 1.48 0.48 359

CU-25-20 Promontorio No Significant intercept

CU-25-21 San Miguel 155.5 156.1 0.7 0.25 231 3.93 18.60 643

CU-25-21 San Miguel 241.1 242.4 1.3 0.03 148 1.06 3.37 219

CU-25-21 San Miguel 252.0 254.2 2.2 0.49 109 0.76 1.38 159

CU-25-22 Promontorio 319.6 320.6 1.1 0.76 741 0.24 0.44 710

CU-25-23 San Miguel 261.4 262.5 1.1 0.31 658 2.00 5.09 740

CU-25-23 San Miguel 287.4 290.9 3.5 0.23 156 7.59 4.18 383

CU-25-24 Promontorio No Significant intercept

CU-25-25 San Miguel 201.0 203.7 2.7 0.57 245 4.43 4.73 422

CU-25-25 San Miguel 292.3 293.6 1.4 1.98 1,830 3.48 3.77 1,868

CU-25-25 San Miguel 296.6 301.5 4.9 0.28 145 5.86 6.56 365

CU-25-26 Matulera No Significant intercept

CU-25-27 San Miguel No Significant intercept

CU-25-28 Matulera No Significant intercept

CU-25-29 San Miguel 212.8 214.9 2.1 0.43 817 7.43 7.40 1,042

CU-25-29 San Miguel 281.9 285.2 3.3 0.14 206 0.72 1.38 231

incl. 284.7 285.2 0.4 0.41 898 0.67 4.02 913

CU-25-29 San Miguel 291.0 299.6 8.6 0.21 240 0.64 0.70 250

Notes

(1) AgEq = Ag g/t x Ag Recovery + [(Au g/t x Au Rec x Au price/gram)+(Pb% x Pb rec. X Pb price/t) + (Zn% x Zn rec. X Zn

price/t)]/Ag price/gram. Metal price assumptions are: $30.00/oz silver, $2400/oz gold, $1.00/lb lead, 1.35/lb zinc.

Metallurgical recovery assumptions are 90% for silver, 50% for gold, 90% for lead, and 60% for zinc. Metallurgical

recoveries used in this release are based on historical operational results on the Cusi project.

(2) Reported intervals are downhole core lengths. True widths are estimated at ~70–80% based on vein orientation

observed in drill core; however, actual true widths may vary with additional drilling.

Table 2: Drill Collar Location

Hole ID Easting Northing Elevation Azimuth Dip Length

CU-25-15 320,462 3,123,425 2,063 291 -51 270.0

CU-25-16 318,689 3,125,817 2,031 221 -29 96.0

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Hole ID Easting Northing Elevation Azimuth Dip Length

CU-25-17 318,778 3,125,988 2,051 233 -33 246.0

CU-25-18 320,462 3,123,425 2,063 309 -58 292.5

CU-25-19 320,566 3,123,486 2,013 310 -33 285.0

CU-25-20 318,869 3,126,003 2,036 230 -38 327.0

CU-25-21 320,566 3,123,486 2,013 295 -33 285.0

CU-25-22 318,869 3,126,003 2,036 223 -46 378.0

CU-25-23 320,529 3,123,438 2,025 314 -47 313.5

CU-25-24 318,451 3,126,206 2,042 191 -31 181.5

CU-25-25 320,529 3,123,438 2,025 313 -54 345.0

CU-25-26 317,265 3,126,367 2,228 270 -49 190.0

CU-25-27 320,514 3,123,405 2,033 307 -48 300.0

CU-25-28 317,350 3,126,353 2,211 277 -47 288.0

CU-25-29 320,496 3,123,358 2,042 304 -56 361.5

Notes

(1) Hole azimuths and dips are based on average of surveyed intervals

Quality Assurance/Quality Control and Sampling Procedures

All diamond drill core from the 2025 program at the Cusi Project was logged, photographed, and

sawn in half using a diamond blade core saw. One half of the core was submitted for geochemical

analysis, while the other half was retained in secure storage for reference. Sampling intervals were

determined based on geological boundaries and typically ranged from 0.3- 1.5 metres. Control

samples comprised approximately 18% of all samples submitted, including certified reference

standards, analytical blanks, field duplicates, preparation duplicates and analytical duplicates.

QA/QC results were reviewed in real time, and all data have been verified as meeting acceptable

thresholds for accuracy, precision, and contamination before inclusion in this release.

Drill core and rock samples were sent to ALS Minerals for analysis with sample preparation in

Chihuahua, Mexico and analysis in North Vancouver, British Columbia. Samples remained under

Company custody until delivery to ALS; sealed bags were transported by Company personnel to

ALS Chihuahua. The ALS Chihuahua and North Vancouver facilities are ISO/IEC 17025 certified.

Samples are dried, weighed, and crushed to at least 70% passing 2mm, and a 250 g split is

pulverized to at least 85% passing 75 μm (PREP-31). Silver and base metals are analyzed using a

four-acid digestion and ICP-AES. Over-limit analyses for silver (>100 ppm), lead (>10,000 ppm), and

zinc (>10,000 ppm) are re-assayed using an ore-grade four-acid digestion and ICP-AES (ME-OG62).

Samples with over-limit silver assays > 1500 ppm are analyzed by 30-gram fire assay with a

gravimetric finish (Ag-GRA21). Gold is assayed by 30-gram fire assay and AAS (Au-AA23)

Technical Disclosure

The scientific and technical information contained in this news release has been reviewed and

approved by Nico Harvey, P .Eng., Vice President Project Development of Silverco, a Qualified

Person as defined in National Instrument 43-101. Mr. Harvey is not independent of the Company.

Mr. Harvey has reviewed the sampling, analytical and QA/QC data underlying the technical

information disclosed herein.