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Silver One Resources Inc. (TSXV: SVE,OTC:SLVRF) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce that has commenced a core drilling program that will provide essential geotechnical data for its Candelaria Silver Project in Nevada. In parallel, the company has engaged Call & Nicholas, Inc., a globally recognized geotechnical engineering firm, to conduct a pre-feasibility level ("PFS") pit-slope stability study in support of a conceptual PFS open-pit design. This work represents a major advancement toward the Company's planned PFS, scheduled for completion in Q4 2026.
The drilling program includes nine HQ-diameter (63.5 mm) core holes totaling approximately 1,900 metres, strategically positioned within and along the margins of the proposed open-pit footprint (See Figure 1). The resulting geotechnical data will guide slope design, optimize mine engineering, and support long-term operational safety and efficiency.
Candelaria stands out as one of the most compelling emerging silver projects in the United States. A former producing mine with a long history of successful operations, the project benefits from previous permitting, excellent infrastructure (including power and water), road access year-round, and significant potential for resource expansion along strike and at depth. These advantages position Candelaria as a rare combination of scale, simplicity, and growth opportunity in a Tier-1 jurisdiction.
The project currently hosts a substantial resource potentially suitable for open-pit development, including:
Measured & Indicated ("M&I"): 22,070,000 tonnes grading 94 g/t Ag and 0.20 g/t Au, containing 66.754 million ounces of silver and 141,400 ounces of gold, or 70.84 million ounces AgEq
Inferred: 2,960,000 tonnes grading 68 g/t Ag and 0.18 g/t Au, containing 6.462 million ounces of silver and 17,000 ounces of gold, or 7.00 million ounces AgEq
This open-pit resource constitutes only a portion of the overall property resources, which also include two heap leach pads hosting substantial amounts of silver and gold. The current global resource for the property amounts to 108.18 million ounces AgEq M&I plus 29.53 million ounces AgEq Inferred (See Table 1 and 2; Company news release dated May 6, 2025; and complete details in the NI 43-101 Technical Report "Mineral Resource Estimate on the Candelaria Property" dated April 30, 2025, filed on SEDAR+).
Gregory Crowe, President and CEO, commented: "Launching the geotechnical drilling program and commissioning Call & Nicholas for the PFS-level slope-stability study marks a major milestone in de-risking and advancing Candelaria. This work provides the engineering backbone for our open-pit design and is essential to delivering a robust pre-feasibility study. With its strong resource base, past-producing history, excellent infrastructure, and clear potential for expansion, Candelaria continues to demonstrate why it is one of the most exciting silver development projects in Nevada."
Figure 1. Planned geotechnical drill-hole location map (UTM NAD83 11S). Blue line shows the perimeter of the proposed pit design.
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Table 1. Candelaria in-ground, underground, and stockpiles mineral resource estimates. The mineral resource estimate has an Effective Date of April 30, 2025.
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Table 2. Candelaria Leach Pad mineral resources. The mineral resource has an Effective Date of August 6, 2020.
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Qualified Persons
The technical content of this news release, not related to the mineral resource, has been reviewed and approved by Robert M. Cann, P. Geo, a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the Company.
About Silver One
Silver One is focused on the exploration and development of quality silver projects. The Company holds 100% interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits.
The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along-strike.
Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver prospect that lies within the "Arizona Silver Belt," immediately adjacent to the prolific copper producing area of Globe, Arizona.
For more information, please contact:
Silver One Resources Inc.
Gary Lindsey - VP, Investor Relations
Phone: 604-974‐5274
Mobile: (720) 273-6224
Email: gary@strata-star.com
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. Silver One cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Silver One's control. Such factors include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities 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, Silver One undertakes no obligation to publicly update or revise forward-looking information.
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