Vancouver, British Columbia–(Newsfile Corp. – March 10, 2026) – Mercado Minerals Ltd. (CSE: MERC) (“Mercado” or the “Company“) is pleased to announce the commencement of the Company’s inaugural 3,000 metre diamond drill program (the “drill program“) at its flagship Copalito project in Sinaloa, Mexico. The Company has contracted HR Drilling, S.A.S. de C.V. to perform the drill program.

Highlights

• 3,000 metre diamond drill program, approximately twenty-five drill holes.
• Targeting five segments of four known veins at 5 Señores, El Agua, La Chiva and El Pilar.
• Initial drill testing of El Medio and Chente veins

CEO Comment
Daniel Rodriguez, CEO & Director, commented:

“We are excited to be launching the next phase of exploration at Copalito with this 3,000-metre drill program targeting several segments of known mineralized veins across the project. The program is designed to build on the 81 historical drill holes completed by the previous operator while also testing new areas that remain largely unexplored.

This work will help improve our understanding of the structural controls on silver-gold mineralization and guide future drill targeting across both known and newly identified veins, unlocking the broader potential of the project. Our team has been working non-stop on the ground at Copalito since mid-January, and I look forward to returning to site as drilling advances and sharing results from the program over the coming months.”

Drill Program
The drill program is designed to test high priority targets on known veins and follow up on 81 diamond drill holes completed by the previous operator (See figure 1). Only 60% of the known veins have been drilled to an average depth of 100 metres. The goal of this initial 3,000 metre diamond drill program is to test several segments of the known veins at 5 Señores, El Agua, La Chiva and El Pilar to determine possible structural controls on the strength of silver-gold bearing vein mineralization. Holes will target areas of potential thickening of vein mineralization, higher grades as well as stepping out along strike and to depth in several areas. Recent LiDAR and high resolution airborne magnetic survey with mapping and planning have assisted in organizing drill hole locations.

Copalito – Significant Historical Drill Hole Intersections

¹Silver-equivalent values are calculated assuming typical recoveries based on metallurgical studies conducted on analogous epithermal vein deposits and are not necessarily reflective of metallurgy on the property. No metallurgical work has been reported on the property. The recoveries used are 91% silver, 94% gold, 70% lead, 75% zinc and 80% copper. The silver – equivalent formula is: ((24 * silver (g/t)*0.91 / 31.1035) + (1900 * gold (g/t)*0.94 / 31.1035) + (0.90 * 2204 * lead %*0.7/100) + (1.10 * 2204 * zinc %*0.75/100) + (4.00*2204*copper %*0.8/100)) *(31.1035 / 24). Metal price assumptions are US$24/oz silver, US$1900/oz gold, US$0.90/lb lead, US$1.10/lb zinc and US$4.00/lb copper. Copper values are only included in the calculation of silver-equivalence for a mineralized intercept where the intercept contains at least one copper value that exceeds 0.1% copper. Numbers may not match due to rounding. ².All intervals are drilled core lengths. Additional drilling is required to establish true widths.

Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and was reviewed and approved by Kelson Willms, P.Geo., of Archer, Cathro & Associates (1981) Limited. Mr. Willms is a Qualified Person for the purposes of National Instrument 43-101

About Mercado Minerals Ltd.
Mercado Minerals Ltd. (CSE: MERC) is a silver-focused exploration company targeting the next world-class discovery in Mexico’s emerging Western Silver Belt, part of the prolific Sierra Madre Occidental mining district. With a proven team boasting extensive experience in Mexican exploration, Mercado is actively advancing multiple projects across more than 3,000 hectares. The Company is committed to creating shareholder value through disciplined exploration, strategic growth, and discovery-driven results.

For further information, contact:
Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: [email protected]

John Fraser
VP Business Development & Director
Phone: (604) 838-7677
Email: [email protected]

Forward-Looking Statement (Safe Harbor Statement):

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate,” “plan,” “continue,” “expect,” “estimate,” “objective,” “may,” “will,” “project,” “should,” “predict,” “potential” and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans and the intended use of proceeds from the Offering. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: Newsfile Corp.
Original Press Release: https://www.newsfilecorp.com/release/287875