Cerro Leon drill results

Unico Silver Limited (“USL” or the “Company”) is pleased to announce further assay results from ongoing drilling at the Cerro Leon project, located in the Santa Cruz province of Argentina. The current drill program at Cerro Leon commenced October 2024 and is anticipated to continue through to the end of Q1 2025.

HIGHLIGHTS

• Phase 1 Reverse Circulation (RC) drilling comprised 56 holes for 4847m (completed Dec 2024).
• Assay results for 37 holes totalling 316Gm received for the CSS, Archen-Chala and Tranquilo prospects. Assay results for a further 10 holes totalling G38m are pending.
• Significant silver equivalent (AgEq1) assay results include:
  • CSS (Outside MRE) (PR031-24)
    • 2m at 482gpt AgEq from 42m, and
    • 15m at 1G8gpt AgEq from 51m
  • Chala (Outside MRE) (PR035-24)
    • 10m at 651gpt AgEq from 5m, inc.
    • 3m at 1G36gpt AgEq from 7m
  • Archen (Outside MRE)(PR041-24)
    • 17m at 42Ggpt AgEq from 95m, inc.
    • 7m at 767gpt AgEq from 95m (PR042-24)
    • 13m at 287gpt AgEq from 63m
  • Tranquilo (Infill)(PR044-24)
    • 20m at 328gpt AgEq from 21m, inc.
    • 5m at G2Ggpt AgEq from 23m
• Phase 2 Diamond Drilling (10,000m) commenced mid-January 2025 with two rigs on site.

Managing Director, Todd Williams: “Drilling at Cerro Leon continues to return significant mineralisation within multiple structures that fall outside of the current Mineral Resource, including the Karina, CSS, and Archen-Chala prospects.

At Archen, drilling has returned an exceptional hole of 17m at 423gpt silver equivalent from 32m downhole depth, the highest to date for the prospect. At Chala, individual silver assay of 3134gpt silver confirm shallow high-grade silver mineralisation.

We now have 2 diamond drill rigs on site at Cerro Leon to complete a further 10,000m of drilling with a focus on expanding mineralisation at all prospects as well as ongoing regional exploration”

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