Mr. Derek Iwanaka reports

STRONG INITIAL SILVER-GOLD-MANGANESE MINERALIZATION AT PRINCE SILVER PROJECT

Prince Silver Corp. has released the assay results from the first five holes from its continuing 9,000-metre reverse circulation (RC) drill program at the Prince silver project in Lincoln county, Nevada.

Derek Iwanaka, chief executive officer and director, states: "Our first five RC drill holes have encountered multiple thick, well-mineralized intersections from reasonably shallow depths, returning excellent silver, gold and manganese assay results as outlined below. These initial results indicate the strong likelihood that our planned 30-hole drill program will be successful in verifying the range of tonnes and grades outlined in the exploration target*."

RC drill hole assay highlights

PRC-26:

• 35 feet (10.7 metres) at 59.7 grams per tonne (g/t) silver (Ag), 0.12 g/t gold (Au), 10.97 per cent manganese (Mn), 1.04 per cent lead (Pb) and 2.07 per cent zinc (Zn).

PRC-27:

• 30 feet (9.15 metres) at 139.92 g/t Ag, 0.68 g/t Au, 8.57 per cent Mn, 1.48 per cent Pb and 1.06 per cent Zn;
• 10 feet (3.05 metres) at 355.25 g/t Ag, 4.78 g/t Au, 2.69 per cent Pb and 4.72 per cent Zn.

PRC-28:

• 10 feet (3.05 metres) at 1,331.00 g/t Ag, 0.16 g/t Au, 14.17 per cent Mn, 2.19 per cent Pb and 4.45 per cent Zn;
• Five feet (1.25 metres) at 101.00 g/t Ag, 23.9 g/t Au and 1.00 per cent Zn.

PRC-29:

• 50 feet (15.24 metres) at 67.25 g/t Ag, 1.17 g/t Au, 2.46 per cent Mn, 1.79 per cent Pb and 0.84 per cent Zn:
  • Including 10 feet (3.05 metres) at 120.00 g/t Ag, 3.62 g/t Au, 1.55 per cent Mn and 2.42 per cent Pb.

PRC-30:

• 25 feet (7.62 metres) at 166.70 g/t Ag, 0.31 g/t Au, 8.70 per cent Mn and 1.14 per cent Zn:
  • Including 15 feet (4.57 metres) at 248.17 g/t Ag, 0.52 g/t Au, 13.24 per cent Mn, 0.96 per cent Pb and 1.55 per cent Zn;
• 35 feet (10.67 metres) at 36.79 g/t Ag, 5.67 g/t Au and 1.44 per cent Zn:
  • Including 25 feet (7.62 metres) at 51.50 g/t Ag, 7.73 g/t Au and 1.99 per cent Zn.

* All drill holes reported in the news release were drilled at 90 degrees through gently dipping 10 to 20 degrees mineralized beds and the above reported intersections are not true width. True widths are estimated to be between 94 per cent and 98.5 per cent of intersected width (for dips of 20 and 10 degrees, respectively).

The initial five drill holes are the first assay results received by the company for its 2025-to-2026 exploration program planning up to 30 RC drill holes. Select results are highlighted above and significant mineral intercepts are presented in more detail in an attached table.

To date, the company has completed 11 RC drill holes with the 12th drill hole initiated on Jan. 9, 2026. Samples from mineralized intercepts in drill holes PRC-31 to PRC-36 were delivered to the laboratory in mid-December and their assay results expected in early February, 2026.

Historical and current drilling has encountered multiple gently dipping mineralized beds within a carbonate replacement deposit (CRD) environment hosted by the combined minerals bed and Pioche shale rock formations. All mineralization encountered in the past and current drilling is at depths shallower than 300 metres (1,000 feet) and therefore is potentially amenable to open-pit mining, subject to further technical and economic evaluation.

Assay results from the first five drill holes, completed in late 2025, as outlined in the highlights and an attached table, demonstrate strong mineralization with three strategic metals, silver, gold and manganese, along with associated base metals. The company is highly encouraged by the continuity, thickness and strength of sliver, gold and manganese mineralization encountered in these initial drill holes.

The company has secured a second drill rig, which is expected to arrive on site mid-January, enabling increased drilling efficiency and an accelerated pace of exploration. The recently expanded drill program is designed to increase and upgrade historical mineralization and support an initial mineral resource estimate. The program is focused on near-surface mineralization and builds upon a substantial historical drill hole database.

* Exploration target

Historical drilling at the Prince project identified an exploration target as outlined in an independent historic report prepared following JORC guidelines (JORC standards for the Australasian code for reporting of exploration results, mineral resources and ore reserves) by OmniGeoX Exploration Consultants, of Perth, Australia, based on historical surface and underground drilling. The report is titled "Prince Project Exploration Target," dated April 24, 2024, written by Dr. Lachlan Rutherford and Michael Martin (OmniGeoX Exploration Consultants, 2024, Prince project exploration target, independent report prepared for Prince Silver).

The exploration target was based on 129 historical drill holes drilled through mineralized carbonate replacement beds and host Pioche shale up to 300 metres in depth. Mineralized polymetallic intersections based on historical block modelling suggest the immediate exploration target is between 25 million and 43 million tonnes (t) with grades ranging from 1.44 to 1.57 per cent Zn, 0.78 to 0.87 per cent Pb, 0.28 to 0.40 g/t Au, 37 to 40 g/t Ag and 3.62 to 4.30 per cent Mn.

More comprehensive details on the exploration target and historical production are also available in the company's news release dated Feb. 27, 2025, available on the company's website and on SEDAR+.

* Readers are cautioned that the exploration target is not an inferred, indicated or measured mineral resource compliant with National Instrument 43-101. The exploration target has been determined based upon 129 historical drill holes totalling 16,606 metres, historical production records, including mine level plans, and 3-D modelling of mineralization and geology. The potential quantity and grade of the exploration target is conceptual in nature. There has been insufficient exploration to define a mineral resource and, it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.

Quality assurance/quality control

The company is following a robust quality assurance/quality control (QA/QC) program designed to meet or exceed CIM and AUSIMM standards. Duplicate samples are extensively used to provide verification both at the primary analytical laboratory and at a second independent laboratory as the program progresses. In addition, a certified field standard is inserted for each drill hole set and sample blanks are randomly included, with no more than one per hole.

All samples are shipped to the laboratory under secure, standard chain-of-custody procedures. Samples are analyzed using 43-element MS-ICP with aqua regia digestion. Samples exceeding limits for Mn, Zn or Pb are further tested using wet chemical assays. Most samples are also fire assayed for gold and silver using a one-assay-ton gravimetric method and an average of four samples per hole will have specific gravity measurements conducted at the laboratory.

The principal analytical laboratory for the program is Skyline Assayers & Laboratories Inc., located in Tucson, Ariz., an ISO-accredited facility.

Qualified person

Ralph Shearing, PGeo (Alberta), a qualified person under NI 43-101 and director and president of the company, has reviewed and approved the technical disclosure in this news release.

About Prince Silver Corp.

Prince Silver is a silver exploration company advancing its flagship Prince silver project in Nevada, featuring a near-surface, historically drilled deposit that remains open in all directions. The company also holds an interest in the Stampede Gap project, a district-scale copper-gold-molybdenum porphyry system located 15 kilometres north-northwest of the Prince silver project, highlighting Prince Silver's focus on high-potential, strategically located exploration assets.

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