Zacatecas Silver Receives Drill Permit for El Cristo, Supporting 2026 Drill Program Aimed at Increasing Existing Silver Resource at the Zacatecas Silver Project
Zacatecas Silver Receives Drill Permit for El Cristo, Supporting 2026 Drill Program Aimed at Increasing
Existing Silver Resource at the Zacatecas Silver Project
VANCOUVER, British Columbia, March 16, 2026 - Zacatecas Silver Corp. (TSXV: ZAC | OTCQB: ZCTSF | FRA:
7TV) (“Zacatecas Silver” or the “Company”) is pleased to announce that it has received the necessary drill
permit from Mexico’s environmental authority, Secretaría de Medio Ambiente y Recursos Naturales
(“SEMARNAT”), for the El Cristo vein system, a priority target at the Company’s wholly owned Zacatecas
Silver Project in Zacatecas State, Mexico. Following review of the Company’s Informe Preventivo
environmental filing, SEMARNAT confirmed that the proposed exploration program may proceed under the
terms outlined in the filing.
The permit approval marks a major milestone ahead of the Company’s planned 2026 drill campaign, designed
to test high-priority targets at both the El Cristo and Panuco vein systems and to advance toward potentially
defining a maiden silver resource at El Cristo in addition to the Company’s current inferred mineral resource
of 20.5 million ounces of silver equivalent at the Panuco vein (“AgEq”) (19.0 million ounces of silver (“Ag”)
and 19.2 thousand ounces of gold (“Au”)) from 3.41 million tonnes at 187 g/t Ag Eq (173 g/t Ag and 0.18 g/t
Au) (see Zacatecas news release dated May 30, 2023).
2026 Drill Program and Permit Details
Under the approved permit, drilling activities at El Cristo are expected to commence in the coming weeks,
with approximately 2,800 metres allocated for El Cristo as part of the 4,000-metre drilling program. The
remaining metres will be at Panuco. The drill program will be focused on:
• Expanding resource-defining potential by testing along-strike and down-dip extensions of the
system;
• Following up on historical and prior drilling results that demonstrate strong silver-base metal
mineralization; and
• Advancing the strategic exploration objectives at Zacatecas by targeting new zones that could
ultimately contribute to a future resource.
The drill program is fully financed with a drill contract finalized and signed with Major Drilling (Mexico)
(TSX:MDI). Surface access agreements with private landowners have also been obtained at El Cristo, enabling
district-wide flexibility for drill pad mobility across priority targets.
Integration of Past El Cristo Work
The El Cristo vein system has been recognized as a robust silver-base metal target since the Company’s initial
drilling in 2022, when results from the maiden diamond drilling confirmed shallow, high-grade mineralization
across multiple holes. Highlights from that early program (see news release August 29, 2022) included
notable intercepts such as:
• 9.53 m @ 175 g/t AgEq (167 g/t Ag, plus Zn/Pb) in Hole CRI-2022-001;
• 0.65 m @ 829 g/t AgEq in Hole CRI-2022-005; and
• Additional intercepts with elevated silver-equivalent grades from numerous scout holes.
Although initial drilling was largely scout-scale and focused on shallow extensions of historic veins, 22 of 28
drill holes intersected silver and base metal mineralization, demonstrating the system’s continuity over more
than 3 kilometres of strike and leaving substantial untested potential at depth and along strike.
These results support the Company’s belief that El Cristo hosts a significant epithermal vein system that
warrants systematic drill testing with the goal of potentially defining a maiden resource in the program
ahead.
Panuco Deposit - A Strong Base for Growth
The 2026 drill program will also dedicate metres to Panuco, where the Company has previously
demonstrated high-grade mineralization and continues to build on its 20.5 million ounce AgEq inferred
resource. This resource is open in multiple directions and provides a strong foundation for expansion as part
of the broader exploration strategy. Drilling at Panuco will commence at the completion of the El Cristo
program.
Management Commentary
“Receiving the drill permit for El Cristo is a key regulatory achievement as we enter a pivotal phase of
exploration,” said CEO, Eric Vanderleeuw. “With promising assay results from earlier drilling and compelling
structural potential, we are excited to return to El Cristo with a program designed to rigorously test its near
surface resource potential - not just to follow up on known mineralization, but to expand our footprint in a
system that could ultimately deliver significant additional silver resources for the Company.”
“At Panuco, we are building on the success of the existing 20.5 million ounce AgEq inferred resource, and the
combined strategy at both targets positions Zacatecas to generate meaningful exploration progress
throughout 2026”
About Zacatecas Silver Corp.
The Company has two key projects: the Zacatecas Silver Project in Zacatecas State, Mexico, and The
Esperanza Gold Project in Morelos State, Mexico.
The Zacatecas Silver Project is located in Zacatecas state, Mexico, within the highly prospective Fresnillo silver
belt, which has produced over 6.2 billion ounces of silver. The Company holds 7,826 hectares (19,338 acres)
of ground that is highly prospective for low-sulphidation and intermediate-sulphidation silver base metal
mineralization and potentially low-sulphidation gold-dominant mineralization. The Company announced an
increase in silver resource at the Panuco South and North underground Mineral Resource Estimate now
consisting of 3.41 million tonnes at 187 g/t AgEq (173 g/t Ag and 0.18 g/t Au) for 20.5 million ounces AgEq
(19.0 million ounces silver and 19.2 thousand ounces gold) (see news release dated May 31, 2023).
The silver property is 25 kilometres (km) southeast of MAG Silver Corp.'s Juanicipio Mine and Fresnillo
PLC's Fresnillo Mine. The Property shares common boundaries with former Pan American Silver Corp., now
Defiance Silver claims and El Orito, which is owned by Endeavour Silver.
Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth
project located in Morelos state, Mexico. Alamos has progressed the project through advanced engineering,
including metallurgical work, while also focusing on stakeholder engagement, including building community
relations. The Company announced a Mineral Resource Estimate at Esperanza consisting of a Measured and
Indicated Mineral Resource Estimate of 30.5 million tonnes at 0.97 g/t AuEq for 956 thousand ounces AuEq
and an Inferred Mineral Resource estimate of 8.7 million tonnes at 0.98 g/t AuEq for 277 thousand ounces
AuEq (see news release dated November 16, 2022).
Qualified Person
The technical information in this news release has been reviewed and approved by Chris Wilson, B.Sc. (Hons),
PhD, FAusIMM (CP), FSEG, FGS, Chief Operating Officer of Zacatecas Silver. Dr. Wilson is a Qualified Person as
defined by NI 43-101 and is not independent due being Chief Operating Officer and a director.
On behalf of the Company
Eric Vanderleeuw
Chief Executive Officer and Director
(519) 729 2440
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. Zacatecas Silver
cautions that all forward-looking statements are inherently uncertain and that actual performance may be
affected by many material factors, many of which are beyond their respective control. Such factors include,
among other things: risks and uncertainties relating to Zacatecas Silver’s limited operating history, its
proposed exploration and development activities on is Zacatecas Properties 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, Zacatecas Silver does
not undertake 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 Exchange) accepts responsibility for the adequacy or accuracy of this release.