Prince Silver to Expand and Accelerate Drilling Program at the Prince Silver Mine

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / December 30, 2025 / Prince Silver Corp. (CSE:PRNC,OTC:PRNCF)(OTCQB:PRNCF)(T130:Frankfurt) ("Prince Silver" or the "Company) is pleased to announce that its ongoing reverse circulation ("RC") drilling program has encountered favourable alteration in all ten drill holes completed to date at the Prince Silver Mine Project (the "Project"). Furthermore, the Company will increase the planned drill program from 21,000 feet (~6,400 metres) to over 30,000 feet (~9,100 metres) and accelerate drilling with the addition of a second RC drill rig next month.

Current drilling is focused on evaluating near-surface (less than 300 metres) carbonate replacement ("CRD") silver-gold-manganese and base-metal mineralization, as well as sediment-hosted gold-silver zones, along a 3,500-foot (~1,070-metre) structural corridor ranging from 600 to 1,200 feet (~180-360 metres) in width. Mineralization at the Project remains open in all directions within shallow, gently dipping mineralized zones that present potential for open-pit mining.

The first batch of assays for the ten completed drill holes is expected in January 2026. Results will provide important insight into the scale and continuity of mineralization across the Exploration Target (as defined below) and the broader mineralized system, and to help guide subsequent phases of drilling with the objective of incorporating new data into an initial NI 43-101-compliant mineral resource estimate.

"The alteration encountered in the drill holes reinforce our confidence in the Prince Silver Mine Project and support our decision to expand and accelerate drilling," said Derek Iwanaka, CEO of Prince Silver Corp. "With a second drill rig coming on site and assays pending, we are well positioned to advance the Project toward a maiden mineral resource while continuing to test the broader mineralized system."

Exploration Target

Historical drilling at the Project identified an exploration target (the "Exploration Target") outlined in an independent historical report prepared in accordance with JORC guidelines by OmniGeoX Exploration Consultants of Perth, Australia. The report, titled "Prince Project Exploration Target" (dated April 24, 2024), was authored by Dr. Lachlan Rutherford and Michael Martin (OmniGeoX Exploration Consultants, 2024, Independent Report prepared for Prince Silver Corp.).

The Exploration Target is based on 129 historic drill holes testing mineralized carbonate replacement beds and host Pioche Shale to depths of up to 300 metres. Historical block modelling of polymetallic mineralization suggests the immediate Exploration Target ranges from approximately 25-43 million tonnes with grades of 1.44-1.57% Zn, 0.78-0.87% Pb, 0.28-0.40 g/t Au, 37-40 g/t Ag, and 3.62-4.30% Mn. Dr. Rutherford and Mr. Martin are Competent Persons as defined under the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code).

Additional details on the Exploration Target and historic production are available in the Company's press release dated February 27, 2025, filed on SEDAR+ (Prince Silver Corp., 2025, Historic Drilling and Production Summary).

Readers are cautioned that the Exploration Target is not a mineral resource as defined under National Instrument 43-101. The Exploration Target is conceptual in nature and based on historic drilling totaling 16,606 metres, historic production records, mine level plans, and 3D geological modelling. There has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration will result in the delineation of a mineral resource.

Annual General Meeting Results

Prince Silver Corp. held its annual general meeting of shareholders on December 23, 2025 (the "AGM"). Shareholders approved all matters presented, as set out in the Company's management information circular dated November 25, 2025, including:

Setting the number of directors at five (5);
Election of Derek Iwanaka, Ralph Shearing, Marco Montecinos, Darrell Rader, and Robert Wrixon as directors until the next annual meeting or until their successors are appointed;
Re-appointment of Davidson & Company LLP as auditor for the ensuing year; and
Adoption of the Company's 20% rolling omnibus equity incentive plan.

The Company thanks former director Neil MacRae, who did not seek re-election, for his valuable guidance and support.

Ralph Shearing, P.Geo. (Alberta), a Qualified Person under NI 43-101 and Director and President of the Company, has reviewed and approved the technical disclosure in this news release.

About Prince Silver Corp.

Prince Silver Corp. is a silver exploration company advancing its flagship Prince Silver Project in Nevada, USA, featuring a near-surface, historically drilled deposit that remains open in all directions. The Company also holds an interest in the Stampede Gap Project, a district-scale copper-gold-molybdenum porphyry system located 15 km north-northwest, highlighting Prince Silver's focus on high-potential, strategically located exploration assets.

On Behalf of the Board of Directors

Derek Iwanaka, CEO & Director
Tel: 236-335-9383
Email: info@princesilvercorp.com
Website: www.princesilvercorp.com

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: completion of the Acquisition and related transactions, proposed drill programs, amendments to the Company's website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE: Prince Silver Corp.

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Prince Silver

Advancing a large-scale, past-producing polymetallic silver-manganese project in Nevada.

Advancing a large-scale, past-producing polymetallic silver-manganese project in Nevada. Keep Reading...

Investor Insight

With a strong asset foundation, C$8 million in cash, and an experienced technical team, Prince Silver is well-positioned to capitalize on the current macro tailwinds in the silver and manganese markets. The project has a US Critical Minerals advantage, hosting silver, zinc, lead, and manganese, in addition to gold.

Overview

Prince Silver (CSE:PRNC,OTCQB:PRNCF) is a Vancouver-based exploration company focused on unlocking value at the Prince silver project in southeastern Nevada.

In July 2025, the company completed a transformational acquisition of Stampede Metals Corporation and subsequently rebranded from Hawthorn Resources to Prince Silver Corp.

Map of Prince Silver and Stampede Gap Projects in Nevada, showing mines and highways.

The flagship asset is a district-scale, past-producing silver-gold-zinc-manganese carbonate replacement system, historically mined through the early to mid-1900s. The immediate objective is to validate and expand upon the 129 historic drill holes (over 16,600 meters) to convert the exploration target into a maiden NI 43-101 mineral resource, targeted for the fourth quarter of 2026.

Company Highlights

Flagship Project: 100 percent ownership of the historic Prince silver mine in Lincoln County, Nevada, an open, near-surface silver-gold-zinc carbonate replacement deposit. It has an exploration target of 23 to 45 million tons, with strong historic grades.
Fully Funded Drilling Program Underway: A 9,000-meter reverse-circulation drill program is now underway with a steady stream of assay results expected from January to May 2026. This follows an recent funding raise of approximately C$4.75 million in gross proceeds.
Clean Corporate Reset: Hawthorn Resources completed the Stampede Metals acquisition and re-listed as Prince Silver Corp. on July 11, 2025.
Tight Share Structure: The company has 58.9 million shares issued and outstanding as of February 23, 2026.
US Critical Minerals Leverage: The Prince Project hosts critical and strategic minerals on the 2025 USGS list: silver, zinc, lead, and manganese, in addition to gold.
Experienced, Hands-on Leadership: President Ralph Shearing, CEO Derek Iwanaka, and new directors Marco Montecinos, Robert Wrixon and Darrell Rader add mine-building, corporate, and capital-markets depth to the leadership team.
Expanded Land Position: The land package at the Prince Silver Project has more than doubled, securing over 7 kilometers of prospective strike length along the mineralized fault system.

Key Projects

Prince Silver Project

Aerial view of Prince Silver historic mine area with sinkholes and headframe in a desert landscape.

The Prince silver project is a large-scale, polymetallic Carbonate Replacement Deposit (CRD) located just west of Pioche, a historic mining district in southeastern Nevada. The project hosts a structurally and stratigraphically controlled system of silver-rich mantos, breccias, and fissure veins. Historic underground production between 1912 and 1949 totaled approximately 1.12 million tons (Mt) at average grades of 100 grams per ton (g/t) silver, 4.5 percent zinc, and 10 percent manganese.

Highlights

Geological compilation work has defined an exploration target ranging between 23 and 45 Mt, grading approximately 37 to 40 g/t silver, 1.5 percent zinc, and 0.8 percent lead.
The fully-funded 9,000 meter drill program is underway with a steady stream of assay results expected from January to May 2026, targeting a maiden NI 43-101 Mineral Resource Estimate (MRE) in the fourth quarter of 2026.
The company recently expanded its land position, securing over 7 kilometers of prospective strike length along the mineralized fault system.

Stampede Gap Copper-Gold-Molybdenum Project

Map showing Prince Silver's Stampede Gap Project's mines near Pioche, Nevada.

The Stampede Gap Copper-Gold-Molybdenum Project is a large, early-stage porphyry target in Nevada featuring over 200 claims. Historical geophysics have identified multiple IP-resistivity anomalies, and a single 700 meter drill hole encountered extensive skarn alteration. Its location is only 150 kilometers south of KGHM's Robinson copper-gold-silver-molybdenum mine. The project presents a deep-seated exploration target that has the hallmarks of a large-scale copper-molybdenum deposit.

Management Team

Derek Iwanaka – Chief Executive Officer and Director

Derek Iwanaka is a mining-sector executive with over 23 years of investor relations, corporate development, and capital markets experience. He has supported more than 20 corporate transactions and helped raise over US$100 million, including one of Canada's first at-the-market financings. Iwanaka previously held senior roles at BeMetals and First Mining Gold Corp., contributing to strategic acquisitions, project advancement, and significant market-cap growth.

Ralph Shearing – President and Director

Ralph Shearing is a professional geologist and mine developer with over 35 years in mineral exploration development and public company management. Since 1987, Shearing has held senior executive positions with public junior mining and exploration companies, notably Luca Mining, a company he founded and guided through exploration, development, construction, and pre-production of the Tahuehueto mine in Mexico. He currently acts as a Qualified Person for Prince Silver’s technical disclosure.

Rob Scott – Chief Financial Officer and Corporate Secretary

Rob Scott’s professional experience has helped raise over $200 million in equity with past and current executive and board positions with TSXV issuers, including Great Bear Resources, Valore Metals, Riverside Resources, Capitan Silver, and First Helium.

Dr. Robert Wrixon – Independent Director

Robert Wrixon is the managing director of Starboard Global, a Hong Kong-based project incubator and VC firm. Wrixon is a seasoned executive and engineer with over 20 years’ experience across ASX- and LSE-listed mining companies. He holds a PhD in mineral engineering from UC Berkeley and brings deep technical, corporate development, and mergers and acquisitions experience.

Darrell Rader – Independent Director

Darrell Rader is the president and chief executive officer of Minaurum Gold, a silver explorer in Mexico. He has directly raised over $150 million for mineral exploration and development and has strong relationships with institutional investors and bankers. Rader founded Defiance Silver Corp, a silver developer, and previously was the head of corporate development at IMPACT Silver. Rader holds a BBA in Finance from Simon Fraser University.

Marco Montecinos – Independent Director

Marco Montecinos has over 40 years of mineral exploration experience across the Americas, including a key role in the three-million-ounce Marlin Gold discovery, multiple gold discoveries, and current roles as chief president of exploration at Gunpoint Exploration and US Critical Metals, as well as president of Tigren, Inc.