Highlights

• Advance recently commenced an extensive sampling program to examine the potential upside in unassayed core from historic core at Yoquivo1
• More than 6,300m of unsampled core in the Pertenencia has been identified, representing greater than 50% of the historic drilling completed1
• First batch of sample results comprising 222.7m of core across 11 holes in the southern portion of Pertenencia has confirmed the untested potential, returning grades of up to 370g/t Ag & 6.2g/t Au
• The preliminary sampling includes elevated silver and gold grades in multiple holes, including new intersections from holes drilled in 2022 of:
  • YQ-022-025 2.05 metres at 480 AgEq2 from 135.15m,
    • including 1.1 metres at 848g/t AgEq2 from 135.15m
  • YQ-022-002   4.45 metres at 115g/t AgEq2 from 119.2m,
    • including 0.95 metres at 249g/t AgEq2 from 120.25m
• Multiple additional batches of previously untested core are currently awaiting assay results, with Advance’s technical team continuing relogging and sampling efforts
• Combined with the results from Advance’s latest drilling, the new assays will be used to update the geological model at Yoquivo and feed into an upgraded JORC Resource
• Site preparation for recommencement of drilling at Yoquivo is now well underway, with a diamond rig expected on site in shortly.

Commenting on first results from the historic core sampling Yoquivo, Managing Director Dr Adam McKinnon said:

“The initial assay results from previously unassayed core at Yoquivo are exactly what we hoped for. The selective legacy sampling by previous explorers has left lots of value behind for us to unlock. The high grade silver and gold mineralisation encountered in this first batch from the southern part of Pertenencia represent only a tiny portion of the material we are planning to re-log and sample, and I’m very much looking forward to what else might be present in these samples.”

Advance Metals Limited (ASX:AVM)(“Advance” or “the Company”) is pleased to provide positive initial results from the sampling of previously untested core at the high grade Yoquivo Silver-Gold Project in southwestern Chihuahua, Mexico.

A drilling program conducted by Advance Metals earlier this year intersected broad contiguous zones of moderate to high grade mineralisation. In reviewing adjacent holes from previous programs, it was noted that in many cases the sampling in the corresponding positions was either highly patchy or completely absent (see example in Figure 1). The Company recently commenced a sampling program to evaluate any upside potential from this unsampled core, with the first batch of assays recently received.

Unit 6, Level 1, 389 Oxford Street,                                                                                                                                        1

Mt Hawthorn, WA, 6014.                                       www.advancemetals.com.au

The initial batch of samples represents a preliminary assessment of the untested potential of this material, comprising a total of 222.7 metres of core from historic drilling in the southernmost portion of the Pertenencia structure (see Figures 4 & 5). The presence of previously unrealised high grade silver and gold mineralisation has now been confirmed, with multiple holes returning elevated graded (see Table 1).

The sampling produced peak grades of 848g/t AgEq in hole YQ-22-025, within a new zone of 2.05 metres at 480g/t AgEq – higher than any of the previously assayed intervals from this hole (Figure 2). Hole YQ-22- 003 also produced a significant new intersection comprising 4.45 metres at 115g/t AgEq, including 0.95m at 249g/t AgEq (Figure 3).

Table 1. Summary of assay results for preliminary sampling of previously untested core across eleven holes in the southern portion of Pertenencia. Significant intervals (where applicable) have been defined at a cut-off grade of 30g/t AgEq2.

The recent results are only a small portion of the historic core targeted for sampling, with multiple additional batches currently pending from the central and northern portions of the Pertinencia area. The sampling program is ongoing, with the Advance’s technical team expecting to target all missing samples from key areas of the deposit before expanding to other mineralised structures at Yoquivo. Combined with the results from Advance’s latest drilling, the new sampling will be used to update the geological model at Yoquivo and feed into a subsequent upgrade to a JORC Resource, expected to commence in the first quarter of 2026.

For further information:

Dr Adam McKinnon
Managing Director and CEO
Advance Metals Limited
+61 (0) 411 028 958
[email protected]
www.advancemetals.com.au

Jane Morgan
Investor & Media Relations Manager
Advance Metals Limited
+ 61 (0) 405 555 618
[email protected]

This announcement has been authorised for release by the Board of Advance Metals Limited.

Notes and references

¹AVM ASX release ‘Advance to unlock untested silver-gold potential from previous drilling at Yoquivo’ dated 27 August 2025.
²The Yoquivo silver equivalent was derived based on initial flotation and leaching test work conducted by Golden Minerals in 2022. The formula used is AgEq g/t = Ag g/t + (Au g/t * Au_price/Ag_price), where the assumed $US/oz gold price is $1,860 and the assumed $US/oz silver price is $24. Au and Ag recovery are both assumed at 85% based on this test work. In AVM’s opinion all elements that are included in the metal equivalency calculation have reasonable potential to be recovered and sold.
³AVM ASX release ‘Advance Metals to acquire Yoquivo High Grade Silver Project in Mexico’ dated 28 October 2024 (and disclosure therein).

Original Article: https://app.sharelinktechnologies.com/announcement-preview/asx/ff63bda0ba52facd79e2ae02985e3af4