Mr. Rob Bruggeman reports

OUTCROP SILVER EXTENDS SANTA ANA VEIN SYSTEM NORTHWARD AND IDENTIFIES PARALLEL CASCADA VEIN

Outcrop Silver & Gold Corp. has released new drilling results from the northern extension of its Santa Ana primary silver project in Tolima, Colombia. Recent drilling has confirmed the northward continuity of the Santa Ana vein system, establishing a structural connection with the Alaska vein, previously interpreted as an independent structure. The continuing drilling program has also progressively identified and delineated the Cascada vein, a mineralized structure subparallel to Alaska and located in its footwall, including high-grade silver intercepts. These results strengthen the company's geological understanding of the northern Santa Ana corridor and highlight potential opportunities for future mineral resource estimate (MRE) growth, particularly within the Alaska vein, which was not included in the September, 2026, MRE. Drilling continues at Santa Ana, with four diamond drill rigs active and multiple assays pending.

Highlights:

• Santa Ana vein system extended northward: Recent drilling confirms the northward continuation of the Santa Ana vein system, extending known structural and mineralized continuity to a total strike length approaching three kilometres.
• High-grade mineralization intersected north of Shoot 7: Drill hole DH670 intersected 1.90 metres (1.02 m estimated true width (ETW)) grading 270 grams per tonne silver equivalent (AgEq), including 0.30 m (0.16 m ETW) grading 1,017 g/t AgEq, approximately 300 m north of Shoot 7 (see details in Table 1).
• Alaska connected to the Santa Ana vein system: New drilling results and geological interpretation indicate that Alaska, previously considered an independent vein, represents the northern continuation of the Santa Ana structure. Significant drill intercepts include 3.43 m (1.26 m ETW) grading 307 g/t AgEq in DH665 and 8.39 m (3.61 m ETW) grading 241 g/t AgEq in DH685, including 0.32 m (0.14 m ETW) grading 4,735 g/t AgEq.
• Delineation of Cascada vein: The Cascada vein is a mineralized structure subparallel to Alaska and located in its footwall. Drill hole DH687 intersected 1.37 m (0.74 m ETW) grading 1,084 g/t AgEq, including 0.30 m (0.16 m ETW) grading 4,725 g/t AgEq, highlighting the potential for additional mineralized structures within the northern Santa Ana corridor.

"These drill results demonstrate the continued progress of our exploration strategy at Santa Ana, building on the resource growth opportunities outlined in our September, 2026, MRE update. By confirming the northern continuity of the Santa Ana vein system and establishing its connection with Alaska, we are advancing a previously unmodelled area toward becoming a potential contributor to future MRE updates. The identification of the Cascada vein further highlights the exploration potential of this mineralized corridor. Additionally, the high-grade intercept approximately 300 m north of Shoot 7 reinforces our confidence in the evolving geological model and its ability to guide exploration toward prospective areas. Our focus remains on systematically advancing these targets through drilling and geological interpretation to support the next phase of resource growth at Santa Ana," commented Carlos Torres, vice-president of exploration.

Santa Ana vein connection to Alaska vein and identification of parallel Cascada vein

Recent drilling along the northern extension of the Santa Ana vein system has established the structural connection with the Alaska vein, previously interpreted as an independent mineralized structure. The results confirm the presence of silver-gold mineralization along this northern continuation, including hole DH665, which intersected 3.43 m (1.26 m ETW) grading 307 g/t AgEq, and DH685, which returned 8.39 m (3.61 m ETW) grading 241 g/t AgEq, including 0.32 m (0.14 m ETW) grading 4,735 g/t AgEq. Additional mineralized intercepts in DH672 and DH687 further demonstrate mineralization within the Alaska structure. Together with the updated geological interpretation, these results advance Alaska as a target for potential inclusion in future MRE updates.

In addition to confirming the northern continuity of the Santa Ana-Alaska vein system, continuing drilling has progressively identified and refined the geological interpretation of the Cascada vein, a mineralized structure subparallel to Alaska and located in its footwall. Significant results include DH687, which intersected 1.37 m (0.74 m ETW) grading 1,084 g/t AgEq, including 0.30 m (0.16 m ETW) grading 4,725 g/t AgEq, and DH658, which returned 2.10 m (0.84 m ETW) grading 233 g/t AgEq. These intercepts demonstrate additional silver-gold mineralization within the northern Santa Ana corridor, highlighting the potential for multiple mineralized structures beyond the main Alaska vein. Continued drilling and geological interpretation will focus on improving the understanding of Cascada's geometry, mineralized continuity and exploration potential.

Santa Ana vein drilling and repetition of mineralized shoots

Drilling along the northern extension of the Santa Ana vein continues to provide valuable geological information, confirming the persistence of the mineralized structure and identifying additional zones of silver-gold mineralization beyond previously explored areas. Recent results include drill hole DH666, which intersected 2.88 m (1.56 m ETW) grading 134 g/t AgEq, including 0.66 m (0.36 m ETW) grading 358 g/t AgEq, and DH670, which returned 1.90 m (1.02 m ETW) grading 270 g/t AgEq, including a high-grade interval of 0.30 m (0.16 m ETW) grading 1,017 g/t AgEq. Particularly noteworthy is the location of DH670, approximately 300 m north of Shoot 7, at a distance consistent with the approximately 300 to 400 m spacing between mineralized shoots highlighted in the company's previous exploration update for Santa Ana vein system (see news release dated Sept. 3, 2026).

Both DH666 and DH670 intersected mineralization at elevations comparable with those of Shoot 7, suggesting a prospective area for further exploration along the northern continuation of the vein. However, drilling in this sector has so far been limited to a relatively narrow elevation range, with no deeper drilling or sufficient additional intercepts to evaluate the potential development, geometry or vertical continuity of a mineralized shoot. Consequently, the possibility of an additional high-grade shoot remains open and represents an opportunity for future exploration. While some drill holes have intersected weakly mineralized portions of the structure, the results collectively demonstrate the persistence of the vein system and the variable distribution of silver-gold mineralization along its northern extension.

Summary

The continuing exploration program along the northern extension of Santa Ana continues to demonstrate the potential of the broader vein system through the confirmation of structural continuity, the recognition of additional mineralized structures and the identification of prospective areas for further exploration. The connection between Santa Ana and Alaska represents an important advancement in the company's geological understanding of the district, while the progressive identification of Cascada highlights the potential for additional mineralized veins within the corridor.

Building on the September, 2026, MRE update, Outcrop Silver remains focused on systematically advancing targets beyond the current resource inventory through continued drilling and geological interpretation. The immediate priority is to further evaluate the northern continuity of the system and advance Alaska toward potential inclusion in a future MRE update while maintaining opportunities to investigate additional high-grade mineralized shoots and parallel structures as exploration progresses.

Qualified person

The technical information presented in this news release has been reviewed and approved by Carlos Torres, PGeo, vice-president of exploration for Outcrop Silver and the qualified person for exploration at the Santa Ana project, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Quality assurance/quality control

Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Core diameter is a mix of HTW and NTW, depending on the drill hole depth. Diamond drill core boxes were photographed, sawn, sampled and tagged. Samples were bagged, tagged and packaged for shipment by truck from Santa Ana's core logging facilities in Falan, Colombia, to the Actlabs certified sample preparation facility in Medellin, Colombia. Actlabs is an accredited laboratory independent of the company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on gold, silver, lead and zinc at Medellin using 1A2Au, 1A3Au, Multielements AR (Ag-Cu-Pb-Zn) and Code 8 methods. Then, samples were sent to Actlabs Canada in Ancaster, Ont., for ICP multielemental analysis under code 1E3. In line with QA/QC best practices, blanks, duplicates and certified reference materials are inserted into the sample stream at approximately three control samples every 20 samples to monitor laboratory performance. A comparison of control samples and their standard deviations indicates acceptable assay accuracy and no detectable contamination. No material QA/QC issues have been identified with respect to sample collection, security and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for overlimits. Multielement geochemistry was determined by ICP-MS using either aqua regia or four-acid digestions. Crush rejects, pulps and the remaining core are stored in a secured facility at Santa Ana for future assay verification.

About Santa Ana

The 100-per-cent-owned Santa Ana project spans approximately 28,000 hectares, encompassing both titles and applications, within the Mariquita district, the largest and highest-grade primary silver district in Colombia, with mining records dating back to 1585.

Santa Ana's updated resource estimate effective Sept. 10, 2026, detailed in news release dated Sept. 14, 2026, prepared by Apex Geoscience Ltd., indicates an estimated indicated resource of 1,793,000 tonnes containing 29.9 million ounces AgEq at a grade of 519 g/t AgEq (376 g/t Ag and 1.80 g/t Au) and an inferred resource of 2,352,000 tonnes containing 27.9 million ounces AgEq at a grade of 368 g/t AgEq (266 g/t Ag and 1.29 g/t Au). The identified resources span 13 major vein systems that include multiple parallel veins and mineralized shoots. The technical report prepared by Apex in accordance with NI 43-101 will be filed on the company's website and SEDAR+ by the end of October, 2026.

The continuing 35,000-metre drill campaign has extended known mineralization and tested additional target areas within the 17-kilometre-long fully titled mineralized corridor at the Santa Ana project. Additional drilling will focus on growing mineral resources within the known vein systems while also testing new vein systems. Since initial drilling in 2019, the company has a record of discovering new high-grade vein systems on a regular basis.

About Outcrop Silver & Gold Corp.

Outcrop Silver is rapidly advancing its flagship Santa Ana primary silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region, Outcrop Silver is focused on expanding high-grade silver and gold mineral resources while advancing the Santa Ana project toward potential production.

At the core of the company's operations is a commitment to responsible mining practices and community engagement, underscoring Outcrop Silver's approach to sustainable development. With a deep understanding of the Colombian mining landscape and a proven record of successful exploration, Outcrop Silver is well positioned to advance the Santa Ana primary-silver project while making a positive contribution to the local economy.

We seek Safe Harbor.