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Outcrop Silver & Gold Corporation (TSX: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver" or the "Company") is pleased to announce the appointment of Carlos Torres as the Vice President of Exploration of Outcrop Silver.
Mr. Torres is an accomplished geologist with extensive experience in Colombia and internationally, spanning exploration, mining, and the evaluation and valuation of mineral projects. He brings more than 20 years of experience to the role, most recently serving as Vice President of Exploration at Sun Valley Investments in Colombia. Mr. Torres evaluated hundreds of mineral projects across the full development spectrum, including management of operating mines. Prior to that, Mr. Torres held the position of Technical Team Leader with the Colombian Ministry of Mines and Energy, where he designed Colombia's national framework for resource company engagement with local and ethnic communities, now adopted as a national standard. He was the Corporate Development Director at Mineros S.A. and played a key role in the acquisition of Hemco in Nicaragua. Earlier in his career, he worked as a geologist with Batero Gold, AngloGold Ashanti, and Greystar Resources, and he has also served as Mine and Exploration Manager for small-scale gold producers, Touchstone Capital and Hemco.
Mr. Torres holds an M.Sc. in Economic Geology from Queen's University and is currently pursuing an M.Sc. in Mining Engineering Management from the Colorado School of Mines. He is a registered Professional Geoscientist (P.Geo.) in Ontario.
Rob Bruggeman, President & CEO of Outcrop Silver, commented: "Carlos joins at an important time for Outcrop Silver – we are executing the largest drill program in our history, the work required to complete a Mineral Resource estimate update is well underway, and Santa Ana is increasingly being recognized as a district-scale system that can be advanced rapidly due to its location, metallurgy, and geological characteristics. His background, spanning exploration, mine operations, and project evaluation, reflects exactly the profile we need as we advance toward a PEA and beyond."
Carlos Torres, Vice President of Exploration, commented: "Following my visit to Santa Ana, I am convinced this is one of the most compelling undeveloped silver districts in Latin America. The resource base is solid, but what excites me most is what remains to be discovered – the project is demonstrating the characteristics of a true district-scale system, with significant blue-sky potential still to be unlocked at depth and along strike."
Following the recent appointments of Rob Bruggeman as President & CEO and Carlos Torres as Vice President of Exploration, the Company is extending its timeline for the ongoing Mineral Resource Estimate ("MRE") update to allow the incoming leadership sufficient time to review and finalize modeling work. The updated MRE is now expected to be released in Q3 of this year and will form the basis of a potential Preliminary Economic Assessment ("PEA") on the Santa Ana Project.
The Company granted 1,000,000 options at a $0.35 exercise price to Mr. Torres, with a term expiring April 17, 2031, vesting at 1/4 quarterly. The options have been granted in accordance with the terms of the Company's current equity incentive plan. Further details regarding the Company's equity incentive plan are set out in the management information circular of the Company dated December 4, 2025, which is available on the Company's website or under the Company's profile at SEDAR+ at www.sedarplus.ca.Â
About Santa Ana
The 100% owned Santa Ana Project spans over 28,000 hectares within the Mariquita District, encompassing both titles and applications, and is recognized as the largest and highest-grade primary silver district in Colombia, with mining records dating back to 1585.
Santa Ana's maiden MRE, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 1,226 thousand tonnes containing 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 966,000Â tonnes containing 13.5 million ounces at a grade of 435 grams per tonne of silver equivalent1. The identified resources span seven major vein systems that include multiple parallel veins and mineralized shoots: Santa Ana (San Antonio, Roberto Tovar, San Juan shoots); La Porfia (La Ivana); El Dorado (El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.
The ongoing drill campaign has extended known mineralization and tested additional target areas within the 17-kilometre-long fully permitted mineralized corridor at the Santa Ana Project. Since the start of the current drill campaign, drilling has confirmed mineralization in six vein systems—Aguilar, Jimenez, La Ye, Los Mangos, Guadual, and Morena—through a combination of step-out, testing, and delineation drilling. The results from these programs are currently being incorporated into updated geological interpretations and three-dimensional models as part of the planned MRE update to be announced later in 2026.
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a team of professionals with decades of experience in the region, Outcrop Silver is dedicated to substantially growing the mineral resources at Santa Ana and advancing it towards a production decision in an efficient and rapid manner.
At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. With a deep understanding of the Colombian mining landscape and a track record of successful exploration in the country, Outcrop Silver is poised to transform the Santa Ana Project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry.
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1 Silver Equivalent |
Metal prices used for equivalent calculations were US$2,760/oz for gold, and US$32/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 98.5% for gold and 96.3% for silver (see news release dated June 25, 2024). The equivalency formula is as follows:
ON BEHALF OF THE BOARD OF DIRECTORS
Rob Bruggeman
Chief Executive Officer
+1 604 638 2545
bruggeman@outcropsilver.comÂ
www.outcropsilver.com
Neither the TSX nor its Regulation Services Provider (as such term is defined in the policies of the TSX ) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the timing and anticipated release and results of the planned MRE update and filing of the PEA; Â receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.
SOURCE Outcrop Silver & Gold Corporation
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