Sierra Madre Commences 30,000 Metre Drill Program in the East District of La Guitarra

(TSXV: SM) (OTCQX: SMDRF) Sierra Madre Gold and Silver Ltd. has commenced a 30,000 metre drill program in the East District of the Guitarra silver-gold mine complex in Estado de Mexico, Mexico. The company has delineated multiple vein systems with a total strike length of over 39 km through detailed mapping. Greg Liller, Chief Operating Officer, stated that the company has developed a 3D geological model to guide the drill program, and the first rig is now on site. The mapping and modelling work enabled the company to optimize the drill program design, with initial drilling focusing on metasediment-hosted veins using the fully permitted Tlacotal area as a staging point. Sub-horizontal drilling will be used to test multiple vein systems at the same elevation as the productive horizon of the historic El Rincon Mine and below the lowest drainage level of historic mines. The contractor built a specialized rig for this program, which arrived on site on October 29th. The 2023 NI 43-101 La Guitarra report estimates exploration potential in the East District of 0.77 to 1.54 million tonnes grading 2.4 to 3.6 g/t gold and 440 to 670 g/t silver, covering five vein systems with a combined strike length of 7.7 km. The company's systematic work has defined additional vein systems over a broader area, many with significant historic workings. Initial drilling from Tlacotal will target the Magdalena and Los Locos vein systems, consisting of 11 holes with projected target depths in excess of 1,000 meters each. As assay results are received, wedge holes will be planned off the original 11 holes. For October 2026, mill throughput averaged 751 tonnes per day, representing a 50% increase from the previous 500 tpd nameplate capacity and aligning with the Phase 1 expansion goal announced on September 8, 2025. Additional production details will be released with Q3 2026 financial results, expected in mid-November. The Guitarra mine is a permitted underground mine with a 500 tpd processing facility that operated until mid-2018 and restarted commercial production in January 2025. In June 2026, Sierra Madre closed the acquisition of the Del Toro silver mine, adding a past-producing, fully permitted asset to its Mexico-focused portfolio. The company also holds the +2,600 ha Tepic Project, which hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. Sierra Madre's management team has collectively raised over $1 billion for mining companies. Alexander Langer is President, Chief Executive Officer and Director. Gregory Smith, P. Geo, Director, is the Qualified Person who reviewed and approved the technical data in this release.

SM Energy Reports Third Quarter 2026 Results

(NYSE:SM) SM Energy Company reported financial and operating results for the third quarter of 2026. Operating cash flow for the quarter was $1.1 billion, which funded $417 million of debt redemption and $133 million of capital returned to stockholders. The company substantially completed its Civitas merger integration, actioning approximately $400 million of merger run-rate synergies, which is twice the original $200 million target and $25 million greater than the revised $375 million target. The NPV-10 of merger synergies increased to $2.0 billion from $1.8 billion. Net income for the quarter was $93 million, or $0.39 per diluted share, while adjusted net income was $465 million, or $1.95 per diluted share. Capital expenditures totaled $711 million, or $747 million before changes in accruals. Adjusted free cash flow was $397 million, and adjusted EBITDAX was $1.3 billion. Average net daily production was 433 MBoe/d, including 230 MBbl/d of oil. The company narrowed its full-year 2026 capital guidance to approximately $2.75 billion. SM returned $133 million of capital to stockholders, representing approximately 34% of adjusted free cash flow, through $81 million in share repurchases (2.3 million shares) and a $0.22 per share quarterly dividend. All $417 million aggregate principal amount of 6.625% Senior Notes due 2027 were redeemed at par, resulting in no maturities until mid-2028. Net debt was reduced to $6.0 billion, down from $7.4 billion at March 31, 2026. Oil volumes were impacted by higher-than-planned downtime in the Permian Basin and takeaway constraints in the Uinta Basin, reducing oil volumes by approximately 2 MBbl/d and 4 MBbl/d, respectively. Income tax expense was $30 million, including current tax expense of $37 million. Year-to-date share repurchases totaled $165 million. Full-year 2026 oil production guidance was lowered by 1% to 220-222 MBbl/d, and total production guidance was narrowed to 420-422 MBoe/d. Full-year capital expenditures are expected to be approximately $2.75 billion. Fourth quarter 2026 production is expected to be 435-445 MBoe/d, including 229-239 MBbl/d of oil, with capital expenditures of approximately $610 million. Full-year 2026 cash tax guidance is updated to approximately $100-$120 million. For the three months ended September 30, 2026, realized oil sales price before derivatives was $85.76 per Bbl, gas was $2.48 per Mcf, and NGLs were $29.40 per Bbl. Net production volumes for the quarter were 21.2 MMBbl oil, 84.4 Bcf gas, and 4.6 MMBbl NGLs. Lease operating expense was $7.02 per Boe, transportation costs were $3.53 per Boe, production taxes were $3.47 per Boe, ad valorem tax expense was $0.38 per Boe, and general and administrative expense was $1.40 per Boe. Depletion, depreciation, and amortization was $14.81 per Boe. As of September 30, 2026, cash and cash equivalents were $442 million, accounts receivable were $1,175 million, and total assets were $18,963 million.

Sierra Madre Announces Guitarra Processing Plant Achieves Throughputs of up to 720 Tonnes per Day as Development at Nazareno and Guitarra Mines Accelerates

(TSXV: SM, OTCQX: SMDRF) Sierra Madre Gold and Silver Ltd. provided an operational update on its Guitarra silver-gold mine complex in Estado de Mexico, Mexico. Throughput at the Guitarra processing plant has increased to a steady 720 tonnes per day (tpd), representing more than a 40% increase over the previous nameplate capacity of 500 tpd. Further modifications to increase capacity are scheduled following the commissioning of a new 11x12 ball mill, with commissioning expected in November 2026. The Phase 2 expansion aims to increase throughputs to 1,200 tpd to 1,500 tpd, more than eight months ahead of schedule. Foundation construction and installation of the 11x12 ball mill has been completed, requiring 400 cubic meters of cement and 16 tonnes of steel rebar. Installation of the drive motor, cyclones, and instrumentation is underway. Development has been accelerated at the Guitarra, Nazareno, and Coloso mines, with approximately 2.6 kilometers of development drives completed since June 2026 and over 800 meters of access and production drives completed since July 2026. The 2023 Mineral Resource Estimate for Nazareno shows a Measured resource of 309,877 tonnes grading 215 g/t silver and 0.55 g/t gold (257 g/t AgEq), and an Inferred resource of 753,784 tonnes grading 229.2 g/t silver and 0.29 g/t gold (251 g/t AgEq), with AgEq calculated at a 77.27:1 silver-gold ratio. At the Guitarra mine, over 1.5 kilometres of development has been completed since June 2026, and work has started to bring the Los Angeles bulk tonnage deposit into production. The San Raphael I and II areas are being developed and dewatered with additional pumps, with initial production from higher-grade blocks planned by the end of October 2026. At Santa Ana in the East District, an initial mine design has been completed, and construction of a portal is contemplated for 2027. The Santa Ana Measured resource is 761,292 tonnes grading 159 g/t silver and 0.19 g/t gold (174 g/t AgEq), and the Inferred resource is 544,892 tonnes grading 178 g/t silver and 0.13 g/t gold (188 g/t AgEq). Groundwork for the fully permitted Phase 4 dry stack tailings expansion has begun, with clearing of trees and vegetation scheduled for October and contractor mobilization for earthworks in November 2026. The first construction phase of the tailings facility will have a capacity of 877,000 tonnes, with total permitted capacity over 5,000,000 tonnes. The 2023 resource models used cutoff grades based on mining and milling costs of US$50 for cut and fill mining and US$38 per tonne for long-hole mining, with a net payable recovery of 70%, a silver price of US$22, a gold price of $1700, and a gold-silver ratio of 77.27:1. Assays were capped at 825 g/t for silver and 6.55 g/t for gold. The company closed the acquisition of the Del Toro silver mine in June 2026, adding a past-producing, fully permitted asset to its Mexico-focused portfolio. Sierra Madre's management team has collectively raised over $1 billion for mining companies. Alexander Langer is President, Chief Executive Officer, and Director. Greg Liller is Chief Operating Officer and Executive Chairman. Gregory Smith, P. Geo, Director, is the Qualified Person who reviewed and approved the technical data.

Sierra Madre Reports Solid Q2 2026 Financial Results, Advances Growth Plans

(TSXV: SM) (OTCQX: SMDRF) Sierra Madre Gold and Silver Ltd. reported financial results for the quarter ended June 30, 2026 (Q2 2026), with revenues of $8,232,135 and gross profit of $1,577,979. Silver revenues for Q2 2026 were $5,000,000 at $75.65 per ounce, and gold revenues were $4,300,000 at $4,529 per ounce. Adjusted EBITDA for the six months ended June 30, 2026 (H1 2026) was $3,500,000, compared to $2,600,000 for H1 2025. Cash from operating activities in H1 2026 was $1,890,000, up from $1,370,000 in H1 2025. Cash and cash equivalents at June 30, 2026 totaled $22,200,000, with $25,000,000 in working capital, compared to $13,200,000 and $14,400,000 at March 31, 2026, respectively. Daily production reached up to 672 tonnes per day in August, a 34% increase over the previous level of 500 tpd. In June 2026, Sierra Madre closed the acquisition of a 100% interest in the Del Toro silver mine in Zacatecas State, Mexico, following shareholder and Mexican Antitrust approval, and completed a concurrent financing for gross proceeds of CAD$57,500,000. The company fully repaid the US$5,000,000 non-revolving, secured term loan with First Majestic Silver. Q2 2026 production metrics included 41,567 tonnes milled, 137,313 AgEq ounces produced, 64,315 Ag ounces produced, 945 Au ounces produced, cash cost of production per tonne of $142.44, cash cost per AgEq ounce produced of $49.28, all-in sustaining cash cost per AgEq ounce produced of $54.73, 123,483 AgEq ounces sold, 66,691 Ag ounces sold, 943 Au ounces sold, average realized price per AgEq ounce sold of $75.45, Ag metal recovery of 73.58%, Au metal recovery of 67.97%, Ag grade of 65.27 gpt, Au grade of 1.05 gpt, and 1,188 development metres. The company purchased a larger-than-planned mill for Phase I expansion, completed refurbishment of a used ball mill increasing capacity to 900 tpd, and installed two 1,500-kW back-up diesel generators for the plant and a 1,250-kW generator for Coloso and Nazareno. The thickener tank construction was completed in mid-August 2026, with testing underway and expected to be functional by the end of September. Sierra Madre also purchased two haul trucks and two scoops in April to support increased mining rates. The company continues to ramp up production at Coloso and Nazareno mines, with Nazareno beginning full production from long-hole stopes on the 180 level in late April 2026. The first phase of the Guitarra expansion is expected to be completed by the end of September 2026, with Phase II anticipated to be completed by Q3 2027, increasing capacity to 1,200-1,500 tpd.

SM Energy Reports Second Quarter 2026 Results

(NYSE: SM) SM Energy Company reported financial and operating results for the second quarter 2026, including net income of $4.46 per diluted share and adjusted net income of $2.19 per diluted share. The company generated operating cash flow of $1.1 billion, or $1.2 billion before net change in working capital, and delivered adjusted free cash flow of $467 million after $42 million of one-time integration, transaction, and capital costs. Capital expenditures totaled $754 million, or $717 million before changes in accruals, and average net daily production was approximately 440 MBoe/d, including approximately 230 MBbl/d of oil. SM Energy closed the $950 million sale of certain South Texas assets on April 30, 2026, with net proceeds of approximately $900 million used to redeem all $819 million aggregate principal amount of the 6.75% and 5.0% Senior Notes due 2026, contributing to a $1.1 billion sequential reduction in net debt. The company returned $137 million of capital to stockholders through $84 million in share repurchases (2.6 million shares) and a $0.22 per share quarterly dividend. SM Energy raised its second-half 2026 production outlook to 435–440 MBoe/d, including approximately 238 MBbl/d of oil, and maintained full-year 2026 capital guidance of $2.65–$2.85 billion. The company projects full-year production guidance of 418–423 MBoe/d (223–225 MBbl/d of oil) and expects to action full run-rate synergies from the Civitas merger by year-end 2026.

Sierra Madre Receives Permit to Start East District Exploration Drilling

(TSXV: SM) (OTCQX: SMDRF) Sierra Madre Gold and Silver Ltd. announced it has received SEMARNAT approval for drilling in the East District of the Guitarra Mine silver-gold complex. The approval covers 22 drill pads from which multiple holes can be drilled, as part of a fully budgeted 30,000 metre drill program. The 2023 NI 43-101 La Guitarra report contains an exploration potential estimate for the East District of 0.77 to 1.54 million tonnes grading 2.4 to 3.6 g/t gold and 440 to 670 g/t silver, covering a combined strike length of 7.7 km. The 2023 Mineral Resource Estimate included an East District component at Mina de Agua, with an indicated resource of 761,000 tonnes grading 159 g/t silver and 0.19 g/t gold and an inferred resource of 545,000 tonnes grading 178 g/t silver and 0.13 g/t gold. The Guitarra mine includes a 500 tpd processing facility that operated until mid-2018 and restarted commercial production in January 2025. In June 2026, Sierra Madre closed the acquisition of the Del Toro silver mine, adding a past-producing, fully permitted asset to its Mexico-focused silver and gold portfolio. The company projects drilling to start within 60 days once a contractor has been selected.

Sierra Madre Fully Repays First Majestic Loan

(TSXV: SM) (OTCQX: SMDRF) Sierra Madre Gold and Silver Ltd. has fully repaid the US$5 million non-revolving, secured term loan between First Majestic Silver Corp. and the Company. The Company is currently debt free and producing positive operating cash flows, with strong cash generation from its La Guitarra operation. Sierra Madre has granted stock options to employees, directors, management, and consultants to purchase an aggregate of 8,800,000 common shares at a price of $1.38 per share for a period of five years from the grant date. In June 2026, Sierra Madre closed the acquisition of the Del Toro silver mine, adding a past-producing, fully permitted asset to its Mexico-focused silver and gold portfolio. The Guitarra mine includes a 500 tonne-per-day processing facility that operated until mid-2018 and restarted commercial production in January 2025. The Company also holds the +2,600-hectare Tepic Project, which hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. The company projects that revenues will allow the Company to comfortably expand to without further capital needs and expects the timing of concentrate shipments and increasing production.

SM Energy Schedules Second Quarter 2026 Conference Call for August 6, 2026

(NYSE: SM) SM Energy Company announced that it plans to release second quarter 2026 financial and operating results after market close on August 5, 2026. The Company will hold a conference call to discuss results on August 6, 2026, at 8:00 a.m. MT (10:00 a.m. ET). SM Energy Company describes itself as a premier, scaled operator of top-tier oil and gas assets across four leading U.S. shale basins: the Permian Basin, DJ Basin, South Texas, and Uinta Basin. The Company states it is focused on operational excellence, disciplined capital allocation, and delivering growing returns to stockholders. SM routinely posts important information about the Company on its website. The replay of the conference call will also be available on the Company's website under the 'Investor Relations' section. For more information, visit www.sm-energy.com.

SM Energy Declares Quarterly Cash Dividend

SM Energy Company (NYSE: SM) announced that its Board of Directors has approved a quarterly cash dividend of $0.22 per share of common stock outstanding. The dividend will be paid on June 22, 2026, to stockholders of record as of the close of business on June 8, 2026. SM Energy Company describes itself as a premier, scaled operator of top-tier oil and gas assets across four leading U.S. shale basins: the Permian Basin, DJ Basin, South Texas, and Uinta Basin. The company emphasizes its focus on operational excellence, disciplined capital allocation, and delivering growing returns to stockholders. SM Energy Company routinely posts important information about the Company on its website. The announcement provides details for investor relations contacts. No additional financial results or forward-looking statements are included in this announcement.

Sierra Madre Receives Mexican Antitrust Approval for the Acquisition of the Del Toro Mine

Sierra Madre Gold and Silver Ltd. (TSXV: SM, OTCQX: SMDRF) announced it has received approval from Mexico's antitrust agency, COFECE, for the acquisition of the Del Toro Silver Mine in the Chalchihuites District in Mexico. This regulatory milestone allows Sierra Madre to finalize the acquisition and proceed with plans to advance exploration at Del Toro ahead of a possible planned restart. Upon closing, Sierra Madre will own both the producing La Guitarra mine, which is undergoing a two-stage expansion to more than double throughputs by mid-2027, and Del Toro. The company plans to commence the mine restart process at Del Toro in mid-2027, with first production expected in mid-2028. Del Toro is a fully permitted, past-producing underground silver-gold-lead mine with over 62.5 km of development and a process plant with a 3,000 tpd capacity. Sierra Madre's management team has collectively raised over $1 billion for mining companies. The company cautions that production decisions are not based on NI 43-101 compliant reserve estimates, increasing risk and uncertainty.

Sierra Madre Reports Strong Q1 2026 Financial Results, Record Quarterly Revenues

Sierra Madre Gold and Silver Ltd. (TSXV: SM, OTCQX: SMDRF) reported its financial and operational results for Q1 2026. The company achieved record quarterly net revenues of US$10.1 million and adjusted EBITDA of US$2.8 million, selling 128,827 silver equivalent ounces. Gross silver revenues were $5.9 million and gold revenues were $5.1 million for the quarter. The first phase of the La Guitarra capacity expansion is on schedule for completion by the end of Q2 2026, aiming to increase mill capacity from 500 tpd to 750-800 tpd. Sierra Madre has also made significant equipment purchases and is preparing for a $3.5 million exploration program with 30,000 metres of drilling planned for H2 2026. Shareholders approved the acquisition of the Del Toro mine, and the company made a $2.5 million principal payment on a $5 million loan. These developments position Sierra Madre for increased production and reduced costs, with further expansion and exploration activities anticipated in the coming quarters.

SM Energy Co: Termination of a Material Definitive Agreement

A filing was made on 2026-05-12 under Item 1.02, indicating the termination of a material definitive agreement. The filing has an accession number of 0000893538-26-000064 and a file size of 134 KB. No further details about the agreement, parties involved, or financial impact are provided in the text. This matters to investors as the termination of a material agreement could have significant implications for the company's operations or financial position.

SM Energy Reports First Quarter 2026 Results

SM Energy Company (NYSE: SM) reported its first quarter 2026 financial and operating results, highlighting a significant transformation following the Civitas Resources, Inc. merger. The company raised its annualized synergy target to $375 million, with approximately $300 million actioned to date, and increased its full-year 2026 production guidance to 410–430 MBoe/d. SM closed a $950 million sale of South Texas assets, generating net proceeds of approximately $900 million, and refinanced nearly $900 million of high-coupon debt with $1.0 billion of new notes. The company maintained its full-year capital expenditure guidance of $2.65–$2.85 billion and strengthened its return of capital framework with a 10% dividend increase.

Sierra Madre Reports Q4 and Year-End 2025 Financial Results, Positive Operating Performance

Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) reported audited consolidated financial results for the year ended December 31, 2025, highlighting a transformational year with the restart of La Guitarra and significant operational improvements. The company sold 628,196 silver equivalent ounces in 2025, generating annual net revenues of US$25 million and adjusted EBITDA of US$6 million. Net income for 2025 was $8.13 million, including a $6.1 million income tax recovery, and cash and cash equivalents at year-end totaled $17.3 million. Key milestones include the planned acquisition of the Del Toro mine, a two-phase La Guitarra capacity expansion, and a $3.5 million exploration program with over 30,000 metres of drilling planned for H2 2026. Sierra Madre was named a 2026 TSX Venture Top 50 Company, recognized for its 264% share price appreciation and 342% market cap growth in 2025.