Silver One's ZTEM Airborne Geophysical Survey Identifies 7 Additional Silver Targets and 6 Potential Porphyry Copper-Silver-Gold Systems at the Candelaria Project, Nevada

Silver One expands Candelaria with 382 new claims and confirms high-grade silver-copper targets.

What the company is saying

Silver One Resources Inc. reports that a May 2026 helicopter-borne ZTEM survey at the Candelaria Project in Nevada, processed by Geotech Ltd, identified seven new silver targets and six copper-silver-gold porphyry targets, all prioritized for further exploration. The company emphasizes the staking of 382 new claims covering 3,128 hectares (7,730 acres) to secure these targets, highlighting a significant expansion of its land position. Field reconnaissance and sampling confirmed mineralization with up to 4.89% copper and 272 g/t silver in outcrop and mine workings, and copper values from 314 ppm to 20,898 ppm in two porphyry targets. The narrative stresses the district-scale potential of Candelaria, referencing a current resource base of 126.6 Moz AgEq M&I (120.7 Moz Ag & 242 koz Au) and 13.4 Moz AgEq Inferred (12.6 Moz Ag & 33.8 koz Au), calculated at US$27.5/oz Ag and US$2106/oz Au using specific recovery rates. Management frames the project as rivaling major North American silver mines and positions the property as a candidate for one of the continent's largest silver districts. The company is advancing a 25,000 metre drilling program and has appointed Ken Engquist as VP Project Development, citing his 30+ years of mine development experience to lead the Pre-Feasibility Study and permitting.

What the data suggests

The ZTEM survey and follow-up fieldwork resulted in staking 382 new claims, expanding the project area by 3,128 hectares (7,730 acres). Seven new silver targets and six porphyry targets were identified, with field sampling returning up to 4.89% copper and 272 g/t silver, and copper values between 314 ppm and 20,898 ppm in two porphyry targets. The Candelaria Project's resource base stands at 126.6 million ounces AgEq M&I and 13.4 million ounces AgEq Inferred, calculated using metal prices of US$27.5/oz Ag and US$2106/oz Au, and recovery rates of 56% (oxide), 66% (mixed), and 5% (sulphide) for silver, and 51% (oxide), 10% (mixed), and 0% (sulphide) for gold. Analytical work was conducted by American Assay Laboratories with QA/QC protocols in place. The company is executing a 25,000 metre drilling program aimed at extending mineralization, but no results or metres completed are disclosed. Over half the property is covered by post-mineralization rocks, requiring indirect exploration methods. The appointment of Ken Engquist as VP Project Development is intended to accelerate the Pre-Feasibility Study and permitting, leveraging his experience with major mining companies.

Analysis

The announcement provides substantial technical detail on recent exploration activities, including the completion of a ZTEM survey, staking of new claims, and high-grade rock sample results, all of which are realised and well-supported by numerical data. However, the most ambitious claims—such as Candelaria's potential to become one of the largest silver districts in North America and the anticipated extension of mineralization—are forward-looking and not yet substantiated by resource upgrades or economic studies. The ongoing 25,000 metre drilling program and the appointment of a VP Project Development signal a move toward capital-intensive project development, but no timeline for production or economic returns is given, and the benefits are likely several years away. The tone is optimistic and frames the project as highly prospective, but the actual progress is at the exploration and early development stage, with no immediate earnings or cash flow impact. The gap between narrative and evidence is moderate: technical milestones are real, but the implied scale and value remain speculative. The absence of feasibility-level economics or production timelines further distances the narrative from near-term value realisation.

Risk flags

• ●Operational risk is high as the project remains at the exploration and early development stage, with no drilling results or feasibility-level economic studies disclosed. The transition from target identification to resource expansion and eventual production is uncertain and can be protracted.
• ●Geological risk is present since over half the property is covered by post-mineralization volcanic rocks or colluvium, requiring indirect exploration methods that may not yield clear results or may delay discovery of economic mineralization.
• ●Execution risk exists in advancing from exploration to development, as the company must successfully complete its 25,000 metre drilling program, deliver a Pre-Feasibility Study, and secure permits. The appointment of a new VP Project Development is positive, but successful project advancement is not guaranteed by personnel alone.
• ●Commodity price risk is embedded in the resource calculation, which assumes US$27.5/oz Ag and US$2106/oz Au; significant deviations from these prices could materially affect project economics if advanced.

Bottom line

Silver One's announcement signals aggressive expansion and technical progress at Candelaria, with 382 new claims staked and multiple high-grade silver and copper targets confirmed by recent geophysical and sampling work. The project's resource base is substantial, but all value realization depends on successful follow-up drilling, resource upgrades, and completion of a Pre-Feasibility Study, none of which are imminent. The appointment of an experienced VP Project Development is a positive step, but does not eliminate the long timeline and significant risks between exploration and production. Investors should focus on forthcoming drill results and the pace of technical studies as the next real catalysts. The main takeaway is that while the project's scale and potential are growing, tangible value remains several development steps away.

Announcement summary

(TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) Silver One Resources Inc. announced the results of a helicopter-borne electromagnetic ZTEM survey conducted in May 2026 at its Candelaria Project, Nevada. The survey, processed and analyzed by Geotech Ltd, identified seven new silver targets and six potential copper-silver-gold porphyry targets, all recommended for further exploration. As a result, Silver One staked 382 new claims covering 3,128 hectares (7,730 acres) adjacent to the southwestern portion of the property to secure these high-priority targets. Field reconnaissance confirmed prospectivity, with rock samples from outcrops and mine workings reporting up to 4.89% copper and 272 g/t silver. Additional sampling revealed copper values ranging from 314 ppm to 20,898 ppm in two of the six porphyry targets (CP-03 and CP-04), and locally elevated lead (up to 4,383 ppm) and zinc (up to 5,190 ppm) in the initial 92 selected and channel rock samples. The Candelaria Project currently hosts a resource base of 126.6 million ounces AgEq Measured & Indicated (120.7 million ounces Ag and 242,000 ounces Au) and 13.4 million ounces AgEq Inferred (12.6 million ounces Ag and 33,800 ounces Au). Metal prices used for calculating silver equivalents are US$27.5 per ounce Ag and US$2106 per ounce Au. Anticipated field recoveries used in the AgEq calculation are 56% for oxide, 66% for mixed, and 5% for sulphide for silver, and 51% for oxide, 10% for mixed, and 0% for sulphide for gold. The company is progressing with a 25,000 metre drilling program aimed at extending mineralization beyond the current resource. Over half of the property is covered by post-mineralization volcanic rocks or colluvium/alluvium, requiring indirect exploration methods such as ground geophysics and soil geochemistry. Analytical work was performed by American Assay Laboratories (AAL) in Sparks, NV, USA, with QA/QC protocols including blanks, standards, and duplicate pulp analyses. Effective September 2026, Ken Engquist, a Director of Silver One, has been appointed as VP Project Development, bringing over 30 years of mine development and operational leadership experience. Ken Engquist will oversee completion of Candelaria's Pre-Feasibility Study and lead permitting and development. The technical content of the release was reviewed and approved by Robert M. Cann, P. Geo, an independent consultant and Qualified Person as defined by NI 43-101.

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