Mr. Eric Vanderleeuw reports

ZACATECAS SILVER COMPLETES 2,027 METRE DIAMOND DRILLING PROGRAM AT EL CRISTO, INTERSECTING MULTIPHASE SILVER-BASE METAL VEINS ACROSS 19 HOLES - ASSAYS PENDING

Zacatecas Silver Corp. has completed its 2026 diamond drilling program at the El Cristo target, located within the company's Zacatecas silver project in the prolific Zacatecas mining district, Mexico.

Major Drilling completed 19 angled diamond drill holes totalling 2,027 metres (m) over 32 days (table 1). Core quality was excellent, with recovery across mineralized zones exceeding 98 per cent.

The program was designed to test shallow depth and strike extensions of the El Cristo intermediate sulphidation epithermal vein system, proximal to holes drilled by the company in 2022 (see news release dated July 7, 2022), which intercepted intervals including:

• 9.53 m at 175 grams per tonne (g/t) silver equivalent (AgEq) (167 g/t silver (Ag), 0.12 per cent zinc (Zn) and 0.03 per cent leadh (Pb)) in hole CRI-2022-001;
• 0.65 m at 829 g/t AgEq (565 g/t Ag, 1.2 g/t Au, 2.7 per cetn Zn and 1.35 per cent Pb) in hole CRI-2022-005;
• Additional intercepts with elevated silver equivalent grades from multiple scout holes.

The majority of holes intercepted near-surface (less than 100 m depth) mineralized structures with downhole widths of up to three to four m. Mineralization comprised classic multiphase quartz-carbonate base metal veins with abundant clotted sphalerite, galena and pyrite. Assay results from previous drilling campaigns have demonstrated a strong correlation between gold and silver grades, and the presence of sphalerite and galena -- a relationship that makes the visible mineralization logged in this campaign particularly encouraging.

All core has been photographed, cut and sampled, and is currently being processed by ALS. Assay results will be released as they are received and compiled.

Eric Vanderleeuw, chief executive officer and director, commented: "Completing 19 holes for over 2,000 metres in 32 days, with core recovery above 98 per cent, reflects strong execution by our team and our drill contractor at El Cristo. While assays remain pending, the core tells an encouraging story: We intersected multiphase veining with abundant sphalerite and galena across multiple holes, the same mineralization style that has consistently correlated with strong silver and gold grades in our prior drilling here. We look forward to receiving assays from ALS and reporting results as they come in. With El Cristo drilling complete, surface work and drill permitting advancing at Oso Negro, and a steady stream of results expected across the portfolio, this is shaping up to be a very active year."

About Zacatecas Silver Corp.

Zacatecas Silver is a multiasset precious metals exploration company with a portfolio of six projects across Mexico, spanning Zacatecas, Sonora, Morelos and Oaxaca.

The Zacatecas silver project is located in Zacatecas state, within the highly prospective Fresnillo silver belt, which has produced over 6.2 billion ounces of silver. The company holds 7,826 hectares of ground prospective for low-sulphidation and intermediate-sulphidation silver-base metal mineralization. A mineral resource estimate at the Panuco deposit comprises 3.41 million tonnes at 187 g/t AgEq for 20.5 million ounces AgEq (see news release dated May 31, 2023). The property is 25 kilometres (km) southeast of MAG Silver's Juanicipio mine and Fresnillo PLC's Fresnillo mine, and shares boundaries with Defiance Silver and Endeavour Silver.

The Esperanza gold project is located in Morelos state and hosts a mineral resource estimate of 30.5 million tonnes at 0.97 g/t gold equivalent (AuEq) for 956,000 ounces AuEq (measured and indicated) and 8.7 million tonnes at 0.98 g/t AuEq for 277,000 ounces AuEq (inferred) (see news release dated Nov. 16, 2022).

The company also holds four exploration properties in Sonora and Oaxaca. Oso Negro (Sonora) is an undrilled, high-grade low-sulphidation epithermal system with multiple veins across a two km strike length. Cumaro (Sonora) is situated along trend from Coeur Mining's El Picacho development and hosts extensions of proven low-sulphidation vein systems with high-grade channel sampling results. La Lola (Sonora) is a large, underexplored 1,183-hectare property anchored by the La Barra vein, a five km structure reaching up to 40 m in width. Ejutla (Oaxaca) comprises 10,603 hectares in the Taviche-Miahuatlan region near the former Fortuna Silver San Jose mine, hosting multiple vein systems and alteration zones anomalous in gold, silver and Carlin-style pathfinder elements.

Qualified person

The technical information in this news release has been reviewed and approved by Dr. Chris Wilson, BSc (honours), PhD, FAusIMM (CP), FSEG, FGS, chief geologist of Zacatecas Silver. Dr. Wilson is a qualified person as defined by National Instrument 43-101, and is not independent due to being chief geologist and a director.

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