Silver One Initiates Drilling on Candelaria's, Nevada Heap Leach Pads to Upgrade Resources and Prepare for Pilot Metallurgical Testing
Silver One Initiates Drilling on Candelaria's,
Nevada Heap Leach Pads to Upgrade
Resources and Prepare for Pilot Metallurgical
Testing
Vancouver, British Columbia--(Newsfile Corp. - February 23, 2026) - Silver One Resources Inc. (TSXV:
SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce that it is
launching a new drilling campaign at its Candelaria Project in Nevada, designed to upgrade the Leach
Pad Indicated and Inferred mineral resources to Measured and Indicated. This program marks another
step forward in advancing Candelaria towards development. The new resource will be incorporated into
a Pre-Feasibility Study ("PFS") currently in progress.
In addition to supporting resource conversion, the program will generate bulk samples for metallurgical
pilot testing - a key component in refining processing assumptions and strengthening project economics.
The campaign comprises 1,400 meters using 8-inch diameter Hollow Stem Auger ("HSA") across 56
planned holes on the LP1 and LP2 leach pads.
Candelaria's leach pad resources currently include 22.18 million tonnes grading 42.1 g/t silver and 0.074
g/t gold, containing 30.02 million ounces of silver and 52,000 ounces of gold in the Indicated category.
The Inferred category comprises an additional 11.45 million tonnes grading 41.8 g/t silver and 0.10 g/t
gold, containing 15.4 million ounces of silver and 36,700 ounces of gold. Silver-equivalent ("AgEq")
resources total 30.8 million ounces Indicated and 16.1 million ounces Inferred (see Table 1 and the
Company's news release dated May 6, 2025).
Gregory Crowe, President and CEO commented:
"
This upcoming drilling and sampling program is
designed to enhance confidence in these substantial leach pad resources, while providing the
metallurgical data needed to support ongoing project advancement.
Pilot testing will potentially validate
the increased silver recoveries using Extrakt/Bechtel non-cyanide solutions and pave the way towards
what is hoped to be a robust PFS later in 2026."
Table 1
. Candelaria Leach Pad mineral resources as reported in the Technical Report titled "Mineral
Resource Estimate on the Candelaria Property" dated April 30, 2025 and filed on SEDAR+.
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Candelaria's project resources total 108.18 million ounces of silver equivalent ("AgEq") in the Measured
and Indicated categories, and 29.46 million ounces of AgEq, including in-ground, leach pad and
stockpiles material (See Company's news release dated May 6, 2025 and the Technical Report titled
"Mineral Resource Estimate on the Candelaria Property" dated April 30, 2025 and filed on SEDAR+ for
complete technical details).
Candelaria Project Background
Candelaria was historically the highest-grade silver producer in the state of Nevada, averaging over
1,200 g/t Ag (40 oz/T Ag) from high-grade vein mining between the mid-1800s and the mid-1900s. Open
pit mining operations mined silver and base metals from stockwork and manto-style mineralized bodies
with accessory gold values hosted in rocks of the Candelaria and Pickhandle Gulch formations. The
majority of the mineralization is associated with the Lower Candelaria shear and Pickhandle thrusts.
Open-pit mining was undertaken in the 1980s through 1998 by several companies, including Nerco, Inc.
and Kinross Gold.
Kinross closed the open pit and leach operation in 1998 due to low silver prices,
however, leaching of the historic pads was not completed leaving a substantial amount of unrecovered
silver. It is estimated that the property has produced over 68 million ounces of silver.
Historical
information was obtained from "Geology of the Candelaria Mining District, Mineral County, Nevada,
1959, Nevada Bureau of Mines, Bulletin 56".
Qualified Persons
The technical content of this news release, not related to the mineral resource, has been reviewed and
approved by Robert M. Cann, P. Geo, a Qualified Person as defined by National Instrument 43-101 and
an independent consultant to the Company.
About Silver One
Silver One is focused on the exploration and development of quality silver projects.
The Company holds
100% interest in its flagship project, the past-producing Candelaria Mine located in Nevada.
Potential
reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible
near-term production.
Additional opportunities lie in previously identified high-grade silver intercepts
down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-
producing open pits.
The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln
County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 12 km along-
strike.
Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very
high-grade native silver prospect that lies within the "Arizona Silver Belt," immediately adjacent to the
prolific copper producing area of Globe, Arizona.
For more information, please contact:
Silver One Resources Inc.
Gary Lindsey - VP, Investor Relations
Phone: 604-974-5274
Mobile: (720) 273-6224
Email:
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on
assumptions as of the date of this news release. These statements reflect management's current
estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver
One cautions that all forward-looking statements are inherently uncertain, and that actual performance
may be affected by a number of material factors, many of which are beyond Silver One's control. Such
factors include, among other things: risks and uncertainties relating to Silver One's limited operating
history, ability to obtain sufficient financing to carry out its exploration and development objectives on the
Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply
with environmental and governmental regulations. Accordingly, actual and future events, conditions and
results may differ materially from the estimates, beliefs, intentions and expectations expressed or
implied in the forward-looking information. Except as required under applicable securities legislation,
Silver One undertakes no obligation to publicly update or revise forward-looking information.
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.
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