MITHRIL HITS 20.5 G/T GOLD, 1,833 G/T SILVER OVER 4.95M

High-grade results confirm expansion potential at Copalquin project

Mithril Silver and Gold Limited (ASX:MTH, TSXV:MSG) has intersected multiple high-grade gold and silver veins at the La Soledad prospect, as part of its Target 1 resource expansion drilling at the Copalquin District in Durango State, Mexico.

Key Drill Results:

4.95m @ 20.5 g/t gold, 1,833 g/t silver from 107m (MTH-ES25-11), including:
- 0.55m @ 110 g/t gold, 7,530 g/t silver from 110m
0.56m @ 22.8 g/t gold, 1,425 g/t silver from 130.49m
3.77m @ 1.42 g/t gold, 100.8 g/t silver from 136.78m, including:
- 0.92m @ 4.97 g/t gold, 296.4 g/t silver from 136.78m
2.55m @ 9.97 g/t gold, 571.8 g/t silver from 112m (MTH-ES25-10), including:
- 1.00m @ 20.7 g/t gold, 1,130 g/t silver from 113m
4.85m @ 1.47 g/t gold, 165.3 g/t silver from 67.2m, including:
- 0.80m @ 4.49 g/t gold, 308 g/t silver from 68.0m
- 0.55m @ 2.42 g/t gold, 504 g/t silver from 70.0m
0.50m @ 13.25 g/t gold, 584 g/t silver from 89.8m (MTH-ES25-08)

Mithril continues to advance its exploration program, with six additional drill holes completed at La Soledad, expanding the known mineralisation. The company is also progressing with the development of a second drill at Target 2, expected to commence in early April.

CEO Commentary

John Skeet, Managing Director and CEO of Mithril, stated:

Drilling at La Soledad in the Target 1 area has continued to produce exceptional results for this silver and gold-rich multi-level historic mine area. The La Soledad structure is open at depth and to the northwest with the opportunity to locate additional ‘ore shoots’ along strike. The drill program is expanded in the La Soledad area with several additional holes to complete before moving the drill to Refugio West in the Target 1 resource area. Drilling in the Target 1 area will continue until the end of March 2025, the anticipated cut-off date for the resource update drilling.

The second drill is scheduled to be on site and commence drilling early April, at the Target 2 area. Progress is on track to complete 35,000 metres of drilling this year, aiming to considerably expand the resource footprint and define up to 10km wide, extensive epithermal silver-gold system in our 70km² district.