Silverco Mining

Investor Insight

Silverco Mining offers imminent producer status and exceptional leverage to silver prices through an aggressive dual-track growth strategy in Mexico. With resources comprised of more than 85 percent silver, the company provides a direct conduit to silver-dominant cash flow, representing a significant valuation re-rating opportunity. The portfolio is anchored by the past-producing Cusi Mining Complex—which was operational as recently as 2023—and the transformational acquisition of the currently producing La Negra mine. This transition from developer to multi-asset producer is underpinned by a robust balance sheet and a management team with a proven institutional pedigree in mine execution and capital markets.

Overview

Silverco Mining (TSXV:SICO) is an operational-stage silver company focused on the Sierra Madre Occidental belt of Mexico. The company’s core technical strategy involves the optimization of the 100-percent-owned Cusi Mining Complex in Chihuahua, an 11,665-hectare district-scale land package. The asset is supported by institutional-grade infrastructure, including direct connection to the national power grid and paved road access, which drastically reduces the capital intensity of the production restart.

The company is executing a definitive shift toward mid-tier producer status through a binding agreement to acquire Nuevo Silver. This transaction provides Silverco with control over the La Negra mine in Querétaro, an asset that is currently producing and provides immediate top-line revenue. By combining the near-term restart of the Cusi 1,200 tpd mill with the existing production at La Negra, Silverco is bypasssing the traditional multi-year development cycle typically associated with junior miners. This "buy-and-build" approach is led by a technical team with specific expertise in Mexican epithermal vein systems and complex underground mine engineering.

Company Highlights

• The $62.5 million upsized bought deal financing (closing Q1 2026) and Eric Sprott’s $10 million lead order provide cornerstone validation from a legendary mining investor and the necessary liquidity to fast-track production restarts.
• The updated Mineral Resource Estimate of 41.2 million ounces of silver equivalent (AgEq) in the Measured and Indicated category establishes a high-confidence geological foundation at Cusi, supporting long-term mine planning.
• The dual-track growth strategy involving the Cusi restart and the Nuevo Silver/La Negra acquisition provides immediate production scale and a diversified cash-flow profile across two distinct Mexican mining jurisdictions.
• Pure-play silver exposure with significant de-risking is achieved via the 1,200 tonne-per-day (tpd) Cusi mill, which was producing as recently as 2023, ensuring that surface infrastructure is "warm" and capable of a rapid return to service.
• Imminent exploration catalysts exist following the completion of a 15,000-metre drill program at Cusi; results are currently pending and are expected to define high-grade extensions at the San Miguel vein.

Key Project: Cusi Mining Complex

The Cusi Mining Complex is a fully permitted, underground silver-lead-zinc-gold operation. Historically, the project has been a silver-pure play, with approximately 85% of revenue derived from silver. Located 135 kilometres west of Chihuahua City, the complex consists of multiple historic mines and a centralized processing facility.

January 2026 Mineral Resource Estimate

Development Status

The current operational focus is the completion of technical and financial milestones required to return the 1,200 tpd mill to full capacity. Silverco recently concluded a 15,000-metre diamond drilling campaign targeting the San Miguel vein and downthrown structural extensions.

Final results from this program are pending and will be integrated into optimized mine restart studies. The company is prioritizing high-grade resource growth and operational optimization to maximize margins in the current silver price environment.

Management & Board

Leadership Team

Mark Ayranto - President, CEO, and Director

Mark Ayranto is a seasoned mining executive with extensive experience in the full life cycle of mine development, from initial advancement through to operational execution.

Sean Fallis - CFO

Sean Fallis is a CPA, CA with a background in senior financial leadership across NYSE, Nasdaq, and TSX-listed firms, specializing in large-scale M&A and corporate finance.

Nico Harvey - Vice-president, Project Development

Nico Harvey is a mining engineer providing technical oversight for both underground and open-pit operations, with a focus on mine planning and project optimization.

Carlos Beltran - Exploration Manager

Carlos Beltran is a specialist in Mexican epithermal systems whose career includes significant involvement in major silver-gold discoveries and resource expansions.

Aaron Ramirez - Administration Manager

Aaron Ramirez manages supply chain and logistics with nearly 20 years of experience supporting international mining operations within Mexico.

Board of Directors

Ricardo Trejo - Project Manager

Ricardo Trejo has over 20 years of experience in management, engineering and operations at multiple mine sites across Mexico. He was most recently the head of mining operations and engineering at Coeur’s Palmarejo

Gary Brown - Director

Gary Brown brings elite institutional credibility as the former CFO of Wheaton Precious Metals for 17 years, where he oversaw the company’s transition into a global precious metals powerhouse.

Gregg Bush - Director

Gregg Bush is a metallurgical engineer with 40 years of experience in international M&A, feasibility studies, and the engineering of large-scale mining infrastructure.

Tim Sorensen - Director

Tim Sorensen is an institutional equity specialist with 25 years in the mining sector; currently the CEO of TSCG Capital, a mining-focused merchant bank.