Tier One Silver Intersects 0.7 Metres of 1,015 g/t Silver and 4.52 g/t Gold at Curibaya Advances additional drill permits to significantly expand drilling capabilities at Curibaya
Tier One Silver Intersects 0.7 Metres of 1,015
g/t Silver and 4.52 g/t Gold at Curibaya
Advances additional drill permits to significantly expand
drilling capabilities at Curibaya
Highlights
Initial assay results from the first four diamond drill holes of Phase 2 drilling confirmed
high-grade silver-gold mineralization within the Cambaya I corridor, including:
0.7 metres ("m") of 1,015 grams per tonne ("g/t") silver ("Ag") and 4.52 g/t gold
("Au"), within a broader interval of 2.7 m of 284.4 g/t Ag and 1.29 g/t Au, in hole
26CUR-018, the second hole of Phase 2 drilling.
Results support continuity of precious metals mineralization across multiple corridors,
with approximately 6 kilometres ("km") of mineralized structures identified to date.
Step-out drilling indicates strong lateral and vertical continuity relative to prior Phase 1
drilling high-grade intercepts.
Mineralization encountered in Phase 2 is located more than 1 km away horizontally
and 250 m away vertically from hole 21CUR-016 of the Company's 2021 Phase 1
drilling which returned 1.5 m of 1,128.7 g/t Ag and 1.04 g/t Au (see news release
February 14, 2022).
Permit expansion is underway to increase drilling capacity to up to 220 holes, from the 17
permitted holes remaining under current permits.
Vancouver, British Columbia--(Newsfile Corp. - April 21, 2026) -
Tier One Silver Inc. (TSXV: TSLV)
(OTCQB: TSLVF) (FSE: TOV0) ("Tier One"
or the
"Company")
is pleased to announce assay results
from the first four of eight drill holes from its Phase 2 diamond drill program at its high-grade Curibaya
epithermal silver-gold-copper project located in Tacna, Peru (Figure 1). The 1,133.6 m drill program,
completed by the Company's wholly owned Peruvian subsidiary, Magma Minerals S.A.C., successfully
confirmed the continued presence of high-grade silver-gold mineralization below surface in the
Cambaya I target area. Results from four additional holes are still pending.
After the Company encountered high-grade mineralization in multiple holes of its 2021 Phase 1 drilling
conducted in the Tipal, Madre, Sama and Sambalay structural corridors, the Company's ongoing surface
work identified two significant target corridors in the northeastern portion of the approximately 17,000-
hectare property: Cambaya I and Cambaya II. The Company's Phase 2 drill program focused on just a
small portion of the Cambaya I corridor and at shallow depths, with the eight holes averaging
approximately 140 m per hole. Initial results reconfirm the presence of a high-grade epithermal silver-
gold system at Curibaya that spans approximately 6 km across multiple corridors. Mineralization
intersected in early Phase 2 drilling supports continuity beneath previously defined high-grade surface
channel samples and reinforces the scale potential of the Cambaya corridors (see news release dated
September 26, 2022). The system remains open in multiple directions, with further drilling required to
test expansion potential.
Peter Dembicki, CEO and President of Tier One
, commented,
"Phase 2 drilling at Curibaya
continues to validate a large, consistent high-grade silver-gold epithermal system across the
Cambaya I corridor demonstrating vertical continuity and strike extension. Early Phase 2 results
strengthen our regional geological model and suggest meaningful expansion potential, with
indications from Phase 1 drilling that a potential copper-type system could be present in deeper
zones nearby. With additional assays pending, and plans to significantly increase drilling capacity, we
are increasingly confident in defining an important precious-metals system and demonstrating
Curibaya's upside."
A summary of assay results from the first four holes of the drilling program are presented below in Table
1.
Figure 1: Illustrates Phase 2 drill holes and the location of Cambaya I and II corridors in relation to the
corridors drilled in Phase 1.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/293529_85831f23b4760bfe_001full.jpg
Table 1. Cambaya I Phase 2 Drilling Intercept Highlights
Corridor
Hole ID
From
To
Length
Ag
Au
(m)
(m)
(m)
(g/t)
(g/t)
Cambaya I
26CUR-017
1
75.55
76.55
1
56.9
0.305
1
80.15
81.15
1
42.9
0.689
26CUR-018
1
72.10
74.80
2.70
284.41
1.29
Incl.
2
73.10
73.80
0.70
1,015.00
4.52
26CUR-019
No significant intercepts
26CUR-020
1
77.80
78.80
1
81.8
0.057
1. Intervals - no less than 1m of >= 40 g/t Ag, maximum consecutive dilution 2m >=20g/t Ag or less grades for internal dilution.
2. Intervals - no less than 0.5m of >= 300 g/t
True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.
Geological Interpretation
Current drilling continues to refine the Company's understanding of the Curibaya system. Results from
Phase 1 and Phase 2 drilling demonstrate a strong correlation between silver-gold mineralization and
quartz breccias, veinlets and open space filling structures, supporting the interpretation of a well-
preserved epithermal system. Having confirmed continuity of mineralization in Cambaya I, the
Company's next phase of drilling, which is subject to obtaining additional financing, will target the
Cambaya II corridor, and then aim to tighten drill spacing across all identified corridors.
In addition to precious metals potential, Curibaya may represent the upper expression of a porphyry
copper type system which the Company has yet to test. Observed geophysical and geological features-
including lithocap alteration, skarn mineralization, copper-bearing breccias grading up to 6% copper,
and age of mineralization-are consistent with known Paleocene-early Eocene porphyry copper deposits
in southern Peru (see news releases January 30, 2023, and September 11, 2023).
Advancing Permits
The Company is advancing applications to expand drill permits at Curibaya through a new semi-detailed
Environmental Impact Study ("EIA-sd"), targeting an increase to up to 220 drill holes within an expanded
permit area. Baseline environmental studies are underway, with submission of the application
anticipated in Q3 2026.
Figure 2: Illustrates the proposed EIA-sd permit area in comparison to the current DIA permit.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/293529_85831f23b4760bfe_002full.jpg
Additional Channel Sampling
Recent channel sampling continues to support the scale of the Cambaya target areas, with mineralized
zones defined over approximately 1 km by 400 m at Cambaya I and 800 m by 300 m at Cambaya II,
further reinforcing the continuity and expansion potential of the system.
Table 2: Cambaya I and Cambaya II 2026 Channel Sampling Result Highlights
Corridor
Channel ID
From
To
Length
Ag
Au
(m)
(m)
(m)
(g/t)
(g/t)
Cambaya I
26CRT-186
1
7.80
10.70
2.9
169.1
0.095
Incl.
2
7.80
8.40
0.60
756.00
0.358
26CRT-195
1
1.80
3.30
1.50
75.79
0.103
26CRT-196
1
1.80
3.00
1.20
68.40
0.130
26CRT-199
1
0.50
2.70
2.20
258.18
0.153
Incl.
2
0.50
1.60
1.10
489.73
0.256
26CRT-200
1
0.00
1.10
1.10
91.58
0.348
26CRT-213
1
18.00
20.00
2.00
47.03
0.058
Cambaya II
26CRT-204
1
4.00
6.50
2.50
122.32
0.113
26CRT-207
1
1.00
3.70
2.70
82.75
0.121
Incl.
2
1.00
2.70
1.70
117.19
0.144
1. Intervals - no less than 1m of >= 40 g/t Ag, maximum consecutive dilution 2m >=20g/t Ag or less grades for internal dilution.
2. Intervals - no less than 0.5m of >= 300 g/t
True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.
Figure 3: Geochemistry map illustrates location of drilling and channel samples taken on Curibaya to
date.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/293529_85831f23b4760bfe_003full.jpg
Qualified Person
Christian Rios (SVP of Exploration), P.Geo, is the Qualified Person who has reviewed and approved the
technical contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.
Peter Dembicki President, CEO and Director
For further information on Tier One Silver Inc., please contact the Company at (778) 729-0700 or visit the
Company's website:
www.tieronesilver.com
.
About Tier One Silver
Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders
through the discovery of silver, gold and copper deposits in South America. The Company is focused on
its flagship exploration project, Curibaya, but continues to investigate other potential projects of merit.
The Company's management and technical teams have a strong track record in raising capital,
discovery and monetization of exploration success.
Channel Sampling
Analytical samples were taken from each 1-metre interval of channel floor resulting in approximately 2-3
kg of rock chips material per sample. Collected samples were sent to ALS Lab in Arequipa, Peru for
preparation and then to Lima, Peru for analysis. All samples are assayed using 30 g nominal weight fire
assay with atomic absorption finish (Au-AA25) and multi-element four acid digest ICP-AES/ICP-MS
method (ME-MS61). Where MS61 results were greater or near 10000 ppm Cu, 10000 ppm Pb or 100
ppm Ag the assay were repeated with ore grade four acid digest method (Cu, Pb, Ag-OG62). Where
OG62 results were greater or near 1500 ppm Ag the assay were repeated with 30 g nominal weight fire
assay with gravimetric finish (Ag-GRA21). QA/QC programs for channel samples using internal standard
and blank samples; field and lab duplicates indicate good overall accuracy and precision.
Silver equivalent grades (AgEq), which were use for interval selection only, were calculated using a
$1300/oz gold price and $18/oz silver price. AgEq = Ag (ppm) + Au (ppm) * (Ag $/troy oz/Au $/troy oz).
No metallurgy recoveries were used for the AgEq calculation.
Main Interval - AgEq (Ag, Au) intervals at 25 ppm (minimum 5 m, max consecutive dilution 6 m).
Sub-Interval - AgEq (Ag, Au) intervals at 75 ppm (minimum 1 m, max consecutive dilution 2 m).
True widths of mineralization are unknown due to the unknown mineralized zones orientation.
Drilling
Analytical samples were taken by sawing HQ or NQ diameter core into equal halves on site and sent one
of the halves to ALS Lab in Arequipa, Peru for preparation and then to Lima, Peru for analysis. All
samples are assayed using 30 g nominal weight fire assay with atomic absorption finish (Au-AA25) and
multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where MS61 results were greater
or near 10,000 ppm Cu, 10,000 ppm Pb or 100 ppm Ag the assay were repeated with ore grade four
acid digest method (Cu, Pb, Ag-OG62). Where OG62 results were greater or near 1,500 ppm Ag the
assay were repeated with 30 g.
QA/QC programs for 2026 core samples using company and lab duplicates, standards and blanks
indicate good accuracy and precision in a large majority of standards assayed.
Silver equivalent grades (AgEq), which were used for interval selection only, were calculated using silver
price of US$18/oz and gold price of US$1,300/oz. Metallurgical recoveries were not applied to the silver
equivalent calculation.
Main Interval - AgEq (Ag, Au) intervals at 25 ppm (minimum 5 m, max consecutive dilution 6 m).
Sub-Interval - AgEq (Ag, Au) intervals at 75 ppm (minimum 1 m, max consecutive dilution 2 m).
True widths of mineralization are unknown due to the unknown mineralized zones orientation.
Forward-Looking Information and General Cautionary Language
This news release contains forward-looking statements and forward-looking information within the
meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the
Company's current expectations and views of future events in connection with the Phase 2 drill program,
the potential of the mineralization and discovery, viability
or expansion of any mineralization, including a
potential copper source and
future drill plans including the progress of expanded permits. Forward-
looking statements are not historical facts and therefore may involve estimates, assumptions and
uncertainties which could cause actual results or outcomes to differ materially from those expressed in
such forward-looking statements. No assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this news release should not be heavily relied
upon. These statements speak only as of the date of this news release.
Readers should refer to the risks discussed in the Company's continuous disclosure filings with the
Canadian Securities Administrators including its most recent Annual Information Form and
Management's Discussion & Analysis, available at
www.sedarplus.ca
.
Neither the 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/293529