Pacifica Silver Intersects 5.04 m of 8.72 g/t Au and 49 g/t Ag in 500 m Step-Out, Outlining New High-Grade Shoot on Central Vein at Claudia

Pacifica Silver reports high-grade drill results and major strike length expansion at Claudia Project.

What the company is saying

Pacifica Silver Corp. (CSE:PSIL, OTCQB:PAGFF) is highlighting assay results from 27 additional holes in its Phase II diamond drilling program at the 100%-owned Claudia Silver-Gold Project in Durango State, Mexico. The company emphasizes the discovery of a high-grade shoot on the Central Vein, extending approximately 750 meters along strike, and the southern extension of the Aguilareña Vein by 700 meters. Management, led by President and CEO Todd Anthony, frames these results as a substantial improvement in both grade and width compared to earlier intersections, with the Central Vein now traced for 1.5 km and the total mineralized strike length across key veins increasing by 1.4 km (56%) to over 3.9 km. The announcement underscores that the fully funded 30,000-meter Phase II program, started in mid-January 2026, is on track for completion in Q4 2026, with 27,941 meters drilled in 118 holes as of October 26 and four rigs currently operating. The tone is confident, focusing on technical progress, the scale of mineralization, and the potential for a maiden resource estimate in 2027. The company also notes the presence of an extensive hydrothermal system at the Judy anomaly, though initial grades there are modest.

What the data suggests

The disclosed data show significant technical progress at the Claudia Project, with the Central Vein delivering intercepts such as 5.04 meters at 8.72 g/t Au and 49 g/t Ag (799 g/t AgEq) in hole 26CLAU150D, including a subinterval of 1.03 meters at 35.83 g/t Au and 159 g/t Ag (3,241 g/t AgEq). Another highlight includes 1.58 meters at 7.79 g/t Au and 163 g/t Ag (833 g/t AgEq) in hole 26CLAU135D, with a subinterval of 0.33 meters at 26.00 g/t Au and 166 g/t Ag (2,403 g/t AgEq). The Aguilareña Vein's southern extension returned lower but still meaningful grades, such as 6.34 meters at 0.63 g/t Au and 35 g/t Ag (89 g/t AgEq) and 1.86 meters at 1.55 g/t Au and 73 g/t Ag (206 g/t AgEq). The program has now defined over 3.9 km of mineralized strike length, up 56% from previous reports, with the Central Vein traced for 1.5 km and the Aguilareña Vein's footprint expanded to 2.7 km along strike and 225 m down-dip. The Judy anomaly, identified by a 31.65 line-km IP-resistivity survey, yielded modest grades (best: 0.11 g/t Au and 52 g/t Ag over 0.68 m) but indicates a large hydrothermal system. Silver equivalent grades are calculated using US$30/oz for silver and US$2,500/oz for gold, with recoveries of 93% for silver and 96% for gold. The technical disclosure is detailed, with true widths, hole IDs, and assay methodologies clearly stated. No resource estimate or economic study is yet available, but the scale and grade of mineralization suggest the potential for a significant deposit.

Analysis

The announcement provides detailed and specific technical results from Pacifica Silver Corp.'s ongoing Phase II drilling at the Claudia Silver-Gold Project, including assay grades, drilled meters, and expansion of mineralized strike length. The language is generally proportionate to the evidence, with most claims directly supported by disclosed data (e.g., meters drilled, grades, strike length increases). Some qualitative statements, such as the significance of the high-grade shoot or the hydrothermal system at the Judy anomaly, are not fully quantified but do not materially inflate the narrative. The forward-looking elements (e.g., planned maiden resource estimate in 2027, further drilling priorities) are clearly separated from realised results and are typical for an exploration-stage update. There is no evidence of exaggerated claims about near-term production or economic impact, and the program is described as 'fully funded' with no immediate capital intensity risk. The gap between narrative and evidence is minimal, and the tone is appropriate for the stage of exploration.

Risk flags

• ●Resource and economic viability remain unproven, as no compliant resource estimate or economic study has been released. The project's value is still based on exploration results, and there is no guarantee that current grades and widths will translate into a mineable resource.
• ●The best grades and widths are localized, with high-grade shoots identified in specific portions of the Central Vein. Continuity of mineralization at economic grades across the broader system is not yet established, increasing geological risk.
• ●The Judy anomaly, while geophysically extensive, has so far returned only modest grades, raising uncertainty about its contribution to future resources despite indications of a large hydrothermal system.
• ●All silver equivalent calculations rely on assumed metal prices (US$30/oz Ag, US$2,500/oz Au) and recovery rates (93% Ag, 96% Au) based on analogues, not on actual metallurgical testing at Claudia. If actual recoveries or prices differ, the effective value of reported grades could be materially lower.
• ●Execution risk remains, as the program is ongoing with 2,059 meters left to drill and assays still pending for several holes. Delays, cost overruns, or disappointing future results could impact timelines and project viability.

Bottom line

Pacifica Silver's latest drilling at the Claudia Project demonstrates strong technical progress, with high-grade gold and silver intercepts and a substantial increase in defined mineralized strike length. The Central Vein's high-grade shoot and the expanded Aguilareña Vein footprint are positive signals, but the absence of a resource estimate means the project's economic potential is still unproven. The Judy anomaly's modest grades temper expectations for that target, though its geophysical signature suggests further exploration potential. All reported silver equivalent grades depend on assumed prices and recoveries, not on site-specific metallurgical data, which introduces additional uncertainty. The timeline to a maiden resource estimate extends into 2027, so this remains a long-term exploration story. Investors should focus on the consistency of high-grade results, progress toward a compliant resource, and any future economic studies as the next major catalysts.

Announcement summary

(CSE: PSIL, OTCQB: PAGFF) Pacifica Silver Corp. announced assay results for 27 additional holes from its ongoing Phase II diamond drilling program at the 100%-owned Claudia Silver-Gold Project in the El Papantón Mining District, Durango State, Mexico. The reported holes are from the Central, Aguilareña, and Justina veins and the Judy target. The latest results outline a high-grade shoot extending approximately 750 m along strike on the Central Vein and extend the Aguilareña Vein an additional 700 m to the south. Highlights from the Central Vein include 5.04 m @ 8.72 g/t Au and 49 g/t Ag (799 g/t AgEq) from 104.63 m in hole 26CLAU150D, including 1.03 m @ 35.83 g/t Au and 159 g/t Ag (3,241 g/t AgEq), and 1.58 m @ 7.79 g/t Au and 163 g/t Ag (833 g/t AgEq) from 74.90 m in hole 26CLAU135D, including 0.33 m @ 26.00 g/t Au and 166 g/t Ag (2,403 g/t AgEq). The South Aguilareña Vein returned 6.34 m @ 0.63 g/t Au and 35 g/t Ag (89 g/t AgEq) from 60.35 m in hole 26CLAU132D, including 1.86 m @ 1.55 g/t Au and 73 g/t Ag (206 g/t AgEq), and 1.93 m @ 1.52 g/t Au and 94 g/t Ag (225 g/t AgEq) from 104.40 m in hole 26CLAU134D. The program has now defined more than 3.9 km of mineralized strike length across the Aguilareña, Central, and Justina veins, representing an increase of approximately 1.4 km (56%). The fully funded Phase II drill program, expanded to 30,000 m, began in mid-January 2026 and is on track for completion in Q4 2026. As of October 26, 27,941 m have been drilled in 118 holes, with four drill rigs currently operating. The Central Vein's high-grade shoot is a significant step-up in both grade and width compared to earlier intersections, with mineralization now traced for approximately 1.5 km. Estimated true widths of the 15 drill hole intercepts to date on the Central Vein range from 0.56 to 5.04 m and average 2.13 m. The Aguilareña Vein's mineralized footprint has increased to approximately 2.7 km along strike and 225 m down-dip, up from nearly 2 km and 200 m previously. The Judy anomaly, identified by a 10-line, 31.65 line-km IP-resistivity survey, extends approximately 600 m and has been tested by seven holes, with the best result being 0.11 g/t Au and 52 g/t Ag (61 g/t AgEq) over 0.68 m. Estimated true widths of reported drilled intervals vary from 39% to 98%, with an average of 78%. Silver equivalent grades (AgEq) are calculated using metal prices of US$30/oz for silver and US$2,500/oz for gold, and recoveries of 93% for silver and 96% for gold. The program is designed to support resource definition and expansion ahead of a planned maiden resource estimate in 2027. Stephen Redak, CPG, Vice-President of Exploration, is the Qualified Person for the release.

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