Mercado Minerals Expands El Triunfo Vein at Zamora Project with New Surface Results Including 0.60 Metres of 815 g/t Silver and 1.66 g/t Gold, Within 1.55 Metres of 381 g/t Silver and 0.85 g/t Gold

Mercado doubles El Triunfo Vein strike length and confirms high-grade silver-gold intervals.

What the company is saying

Mercado Minerals Ltd. is highlighting the expansion of the El Triunfo Vein at its Zamora Project in Sinaloa, Mexico, emphasizing that systematic exploration has more than doubled the strike length from 180 metres to over 370 metres. The company frames its narrative around high-grade surface sampling, citing a 1.55 metre true-width chip sample grading 381 g/t silver and 0.85 g/t gold, with an included 0.60 metre interval at 815 g/t silver and 1.66 g/t gold. CEO Daniel Rodriguez describes these results as evidence of the project's high-grade potential and underexplored status, and points to the discovery of a second historic working as further validation. The announcement is confident in tone, focusing on technical detail and the imminent start of a 1,500 metre inaugural drill program, with drill roads and pads under construction. Mercado discloses metallurgical recovery and metal price assumptions used in silver-equivalent calculations, and notes that all technical information was reviewed by a Qualified Person under NI 43-101. The company does not provide financial or budgetary data, keeping the emphasis on geological progress and near-term drilling.

What the data suggests

The data show that Mercado has extended the mapped strike length of the El Triunfo Vein from 180 metres to over 370 metres, more than doubling the previously known extent. Surface chip sampling returned high-grade results, including 1.55 metres (true width) grading 381 g/t silver and 0.85 g/t gold (413 g/t AgEq), with a subinterval of 0.60 metres at 815 g/t silver and 1.66 g/t gold (868 g/t AgEq). A stockpile grab sample from a newly discovered second historic working returned 674 g/t silver and 1.00 g/t gold (715 g/t AgEq). Additional chip samples ranged from 9 to 138 g/t silver and 0.04 to 0.35 g/t gold over 0.40 to 0.70 metre intervals. Metallurgical recoveries assumed in AgEq calculations are 91% for silver, 94% for gold, 70% for lead, and 75% for zinc, with metal prices of US$24/oz silver, US$1900/oz gold, US$0.90/lb lead, and US$1.10/lb zinc. All sample intervals are true widths, and the vein thickness ranges from 0.40 to 1.55 metres. The technical data are robust and independently reviewed, but no resource estimate or economic analysis is provided. The imminent 1,500 metre drill program is the next concrete step.

Analysis

The announcement provides detailed and specific technical results from surface sampling at the Zamora Project, including sample IDs, grades, and strike length extension, all of which are realised and well-supported by the disclosed data. The only forward-looking elements are preparations for an inaugural drill program and anticipation of upcoming drilling, which are standard and expected at this exploration stage. There is no exaggerated language or overstatement of future value; the CEO's comments are proportionate and reference actual results. No large capital outlay or financial projections are disclosed, and the technical information is reviewed by a Qualified Person under NI 43-101, adding credibility. The gap between narrative and evidence is minimal, as all key claims are substantiated by the data provided. The absence of financial or resource estimate figures is normal for a pre-drilling exploration update and does not detract from the signal.

Risk flags

• ●There is no disclosure of financial position, budget, or funding status for the upcoming drill program, which raises uncertainty about the company's ability to sustain exploration beyond the initial phase.
• ●All results are from surface sampling; subsurface continuity, grade distribution, and true resource potential remain untested until drilling is completed and assays are returned.
• ●Silver-equivalent grades are calculated using assumed metallurgical recoveries and metal prices, but no metallurgical work has been conducted on the property itself, introducing potential variance between calculated and actual recoveries.
• ●The project remains at an early exploration stage with no resource estimate, so there is significant geological and economic uncertainty until drilling validates continuity and scale.

Bottom line

Mercado Minerals has delivered a technically detailed update showing high-grade silver and gold values from surface sampling at the Zamora Project, with the El Triunfo Vein's strike length more than doubled to over 370 metres. The results, including up to 815 g/t silver and 1.66 g/t gold over 0.60 metres, are strong for an early-stage project and are supported by transparent sampling and QA/QC procedures. The company is preparing to drill 1,500 metres in the coming weeks, which will be the first real test of subsurface continuity and grade. No financial, budget, or funding details are provided, so investors cannot assess capital runway or program scale beyond the initial drilling. The absence of a resource estimate is normal at this stage, but the project's economic potential remains unproven until drilling results are available. The most important takeaway is that the next major value inflection point will be the release of initial drill results; until then, the story remains high-potential but speculative.

Announcement summary

(CSE:MERC) (OTCQB:MRMNF) Mercado Minerals Ltd. announced new surface sample results from its Zamora Project in Sinaloa, Mexico. The ongoing exploration program is focused on expanding mineralization along the Campanillas – La Franca and El Triunfo vein corridors. Continued sampling and mapping at the El Triunfo Vein has more than doubled the strike length from 180 metres to over 370 metres. A surface chip sample from El Triunfo returned 1.55 metres (true width) of 381 g/t silver and 0.85 g/t gold (413 g/t AgEq), including 0.60 metres of 815 g/t silver and 1.66 g/t gold (868 g/t AgEq). A stockpile grab sample from a newly discovered second historic working returned 674 g/t silver and 1.00 g/t gold (715 g/t AgEq). Additional chip sampling along the vein returned 0.60 metres of 128 g/t silver and 0.26 g/t gold (139 g/t AgEq). The El Triunfo Vein is described as a grey banded, colloform to crustiform quartz vein with a thickness ranging from 0.40 to 1.55 metres. Preparations are underway for an inaugural 1,500 metre drill program at Zamora, with drill roads and pads currently being constructed. The company provided a table of surface chip sampling results, including sample IDs, sample types, lengths, lithology, and grades for silver, gold, lead, zinc, and silver-equivalent values. Metallurgical recoveries used in silver-equivalent calculations are 91% for silver, 94% for gold, 70% for lead, and 75% for zinc. Metal price assumptions are US$24/oz silver, US$1900/oz gold, US$0.90/lb lead, and US$1.10/lb zinc. CEO & Director Daniel Rodriguez stated that systematic exploration at Zamora continues to be rewarded, with mapping and prospecting more than doubling the strike length of the El Triunfo Vein and discovering a second historic working. He highlighted the high-grade nature of the veins, referencing the 0.60 metres of 815 g/t silver and 1.66 g/t gold (868 g/t AgEq) result. All rock samples are chip samples, with detailed QA/QC and chain of custody procedures described, including sample preparation and analytical methods by ALS Laboratories. The technical information was reviewed and approved by Kelson Willms, P.Geo., of Archer, Cathro & Associates (1981) Limited, a Qualified Person under NI 43-101.

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