Strong Initial Silver-Gold-Manganese Mineralization at Prince Silver Project

Including Intersecting: 3.05 Metres at 1,331.00 g/t Ag, 0.16 g/t Au,14.17% Mn, 2.19% Pb, and 4.45% Zn

VANCOUVER, BC / ACCESS Newswire / January 13, 2026 / Prince Silver Corp. (CSE:PRNC,OTC:PRNCF)(OTCQB:PRNCF)(Frankfurt:T130) ("Prince Silver" or the "Company"), is pleased to announce assay results from the first five holes from its ongoing 9,000-metre reverse circulation ("RC") drill program at the Prince Silver Project in Lincoln County, Nevada, USA. (See Figure 1: Project Location Map below).

Derek Iwanaka, CEO and Director states, "Our first five RC drill holes have encountered multiple thick, well mineralized intersections from reasonably shallow depths, returning excellent silver, gold, and manganese assay results as outlined below. These initial results indicate the strong likelihood that our planned 30-hole drill program will be successful in verifying the range of tonnes and grades outlined in the Exploration Target* (Refer to Exploration Target section below)."

RC Drill Hole Assay Highlights

PRC-26:

35 feet (10.7 metres) at 59.7 g/t Silver (Ag), 0.12 g/t Gold (Au), 10.97% Manganese (Mn), 1.04% Lead (Pb), and 2.07% Zinc (Zn).

PRC-27

30 feet (9.15 metres) at 139.92 g/t Ag, 0.68 g/t Au,8.57% Mn, 1.48% Pb, and 1.06% Zn; and
10 feet (3.05 metres) at 355.25 g/t Ag, 4.78 g/t Au, 2.69% Pb, and 4.72% Zn.

PRC-28

10 feet (3.05 metres) at 1,331.00 g/t Ag, 0.16 g/t Au,14.17% Mn, 2.19% Pb, and 4.45% Zn; and
5 feet (1.25 metres) at 101.00 g/t Ag, 23.9 g/t Au, and 1.00% Zn.

PRC-29

50 feet (15.24 metres) at 67.25 g/t Ag, 1.17 g/t Au, 2.46% Mn, 1.79% Pb and 0.84% Zn;
- including 10 feet (3.05 metres) at 120.00 g/t Ag, 3.62 g/t Au, 1.55% Mn, and 2.42% Pb.

PRC-30

25 feet (7.62 metres) at 166.70 g/t Ag, 0.31 g/t Au,8.70% Mn, and 1.14% Zn;
- including 15 feet (4.57 metres) at 248.17 g/t Ag, 0.52 g/t Au, 13.24% Mn, 0.96 % Pb and 1.55% Zn; and
35 feet (10.67 metres) at 36.79 g/t Ag, 5.67 g/t Au, and 1.44% Zn;
- including 25 feet (7.62 metres) at 51.50 g/t Ag, 7.73 g/t Au, and 1.99% Zn.

* All drill holes reported in the press release were drilled at 90 degrees through gently dipping 10 to 20 degrees mineralized beds and the above reported intersections are not true width. True widths are estimated to be between 94% to 98.5% of intersected width (for dips of 20 and 10 degrees respectively).

The initial five drill holes are the first assay results received by the Company for its 2025 - 2026 exploration program planning up to 30 RC drill holes. Select results are highlighted above and significant mineral intercepts are presented in more detail in Table 1 below and the drill hole locations are presented in Figure 1 below.

To date, the company has completed 11 RC drill holes with the 12th drill hole initiated on January 9,2026. Samples from mineralized intercepts in drill holes PRC-31 to PRC-36 were delivered to the laboratory in mid-December and their assay results expected in early February 2026.

Figure 1: Drill Hole Locations

Historic and current drilling has encountered multiple gently dipping mineralized beds within a carbonate replacement deposit ("CRD") environment hosted by the Combined Minerals Bed and Pioche Shale rock formations. All mineralization encountered in the past and current drilling, is at depths shallower than 300 metres (1000 feet) and therefore, is potentially amenable to open pit mining, subject to further technical and economic evaluation.

Assay results from the first five drill holes, completed in late 2025, as outlined in the highlights above and Table 1 below, demonstrate strong mineralization with three strategic metals, silver, gold and manganese, along with associated base metals. The Company is highly encouraged by the continuity, thickness, and strength of sliver, gold and manganese mineralization encountered in these initial drill holes.

The Company has secured a second drill rig, which is expected to arrive on site mid-January, enabling increased drilling efficiency and an accelerated pace of exploration. The recently expanded drill program is designed to increase and upgrade historical mineralization and support an initial mineral resource estimate. The program is focused on near-surface mineralization and builds upon a substantial historical drill hole database.

Figure 2: Prince Project Location Map:

*Exploration Target

Historical drilling at the Prince Project identified an exploration target (the "Exploration Target") as outlined in an independent historic report prepared following JORC guidelines (JORC standards for the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) by OmniGeoX Exploration Consultants of Perth, Australia, based on historical surface and underground drilling. The report is titled "Prince Project Exploration Target", dated April 24, 2024, authored by Dr. Lachlan Rutherford and Michael Martin (OmniGeoX Exploration Consultants, 2024, Prince Project Exploration Target, Independent Report prepared for Prince Silver Corp.).

The Exploration Target was based on 129 historic drill holes drilled through mineralized carbonate replacement beds and host Pioche Shale up to 300 metres in depth. Mineralized polymetallic intersections based on historical block modelling suggest the immediate Exploration Target is between 25-43Mt with grades ranging from 1.44-1.57% Zn, 0.78-0.87% Pb, 0.28-0.40g/t Au, 37-40g/t Ag and 3.62-4.30% Mn.

More comprehensive details on the Exploration Target and historic production are also available in the Company's press release dated February 27, 2025, available on the Company's web site and at SEDAR+.

* Readers are cautioned that the Exploration Target is not an "inferred", "indicated" or "measured" mineral resource compliant with National Instrument 43-101 ("NI 43-101"). The Exploration Target has been determined based upon 129 historic drill holes totaling 16,606 metres, historic production records including mine level plans and 3D modelling of mineralization and geology. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to define a mineral resource and, it is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource.

Table 1: Significant Assays Results for Drill Holes PRC 26 - 30

Continued on next page

Hole intervals marked with "avg" are the average grades of either one or two duplicated of the sample interval.

Quality Assurance / Quality Control

The company is following a robust Quality Assurance / Quality Control (QA/QC) program designed to meet or exceed CIM and AUSIMM standards. Duplicate samples are extensively used to provide verification both at the primary analytical laboratory and at a second independent laboratory as the program progresses. In addition, a certified field standard is inserted for each drill hole set, and sample blanks are randomly included, with no more than one per hole.

All samples are shipped to the laboratory under secure, standard chain-of-custody procedures. Samples are analyzed using 43-element MS-ICP with aqua regia digestion. Samples exceeding limits for Mn, Zn, or Pb are further tested using wet chemical assays. Most samples are also fire assayed for gold and silver using a one-assay-ton gravimetric method, and an average of four samples per hole will have specific gravity measurements conducted at the laboratory.

The principal analytical laboratory for the program is Skyline Assayers & Laboratories Inc., located in Tucson, Arizona, an ISO-accredited facility.

Qualified Person

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 of the Prince Silver Project, 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.