Mr. Nick DeMare reports

ROCHESTER REPORTS STRONG QUARTERLY RESULTS FOLLOWING SUCCESSFUL PLANT UPGRADE PROGRAM

Rochester Resources Ltd. has released its operating results for the quarter ended Feb. 28, 2026.

Background and context

The company has operated in Nayarit since 2006, producing gold and silver from mineralized material. Historically, the significant manganese content of the mineralized material negatively impacted silver recovery. The unrecovered silver is in the company's tailings impoundment.

The company has conducted mining operations without a defined mineral resource, and the production decision was not based on a feasibility study of mineral reserves that has demonstrated technical or economic viability.

As previously disclosed, the company undertook a systematic program of laboratory testing in partnership with the University of Guanajuato, a leading mining and metallurgy institution in Mexico, to develop a solution to the manganese problem. A solution was developed, and the company proceeded to design, engineer and construct a dedicated addition to the plant to implement the new solution. The work was completed, and operations incorporating the solution commenced operations in first quarter 2025.

Operational results

The results have been positive with recovery for silver recoveries improving markedly.

Combined with improved precious metal prices, the enhanced recovery rates have materially strengthened the company's economics through 2025 and into early 2026. Proceeds from operations have been reinvested into further improvements to both the plant and the mines, including a broad program of capacity expansion and equipment rehabilitation.

Plant and process upgrades

The reinvestment program has covered all areas of the company's mill across the crushing, grinding, filtration and proprietary process circuits.

Financial results

The plant investments have translated directly into a significant improvement in financial performance. For the three months ended Feb. 28, 2026, the company recorded revenue of $8,419,953, more than double the $3,134,337 reported in the same quarter of the prior year, driven by the higher silver recovery rates and improved metal prices. The company generated operating income of $2,304,451, compared with an operating loss of $404,320 in third quarter 2025, and net income of $971,745, compared with a net loss of $2,091,491 in the prior-year quarter.

For the nine months ended Feb. 28, 2026, revenue totalled $18,600,895, compared with $9,725,621 for the same period in 2025. Operating income for the nine-month period was $3,487,522, compared with an operating loss of $1,212,957 in the prior year.

Outlook

The company is focused on expanding throughput capacity. Management expects that when all the work is completed, the plant will be capable of processing up to 400 tonnes per day. Given current metal price environment, this increase once achieved will have positive impact on operating results.