Silver Hill
America's First Significant Silver Discovery
Davidson County, North Carolina — 1,225 Acres
Phase 1 Drilling
Metalsource’s phase 1 drill program at Silver Hill has delivered significant results, extending high-grade gold-silver-base metal mineralization 195m down dip, with visual confirmation of wide massive sulphide zones continuing both down dip and along strike.
- These intercepts represent previously unrecognized mineralization — historic work indicated only narrow mineralization and did not demonstrate gold grades of this tenor previously
- The historic workings at the 550 level and previous mapping and modelling projected this mineralization as a much narrower zone
- Ongoing exploration drilling will work to expand mineralization along strike and down plunge below the 1,000 level
*Equivalent grades calculated using 200-day moving average metal prices as of Feb. 6, 2026 (Au US$124.5/g, Ag US$1.58/g, Cu US$4.9/lb, Pb US$0.90/lb, Zn US$1.11/lb). No metallurgical testwork has been completed on the Silver Hill project. Equivalent grades are calculated based on theoretical in-situ metal content, do not incorporate metallurgical recovery assumptions, and are provided for comparative exploration purposes only. Equivalent grades should not be interpreted as representing recoverable metal or economic value. Widths reported are core length.
Overview
The Silver Hill Project totals 1,225 acres located in Davidson County, North Carolina. The project area is entirely on privately owned land with no federal, state, or Native American ground, and features on-site roads, power and water.
Metalsource COO Tom Kleeberg and his team bring exceptional expertise on these properties, and their years of groundwork provide us with an invaluable platform for exploration.
Project History
*Underground diamond drilling. Widths reported are core length; true widths have not been determined. For complete drilling, sampling and analytical methodology, QA/QC procedures, and qualified person information, refer to the Company’s news releases filed on SEDAR+ at www.sedarplus.ca.
Phase 1 Drill Results — As of April 16, 2026
| Drill Hole | From (m) | To (m) | Length (m) | Ag (g/t) | Au (g/t) | Cu (%) | Pb (%) | Zn (%) | AgEq (g/t)* |
|---|---|---|---|---|---|---|---|---|---|
| SH25-01 | 14.32 | 32.49 | 18.17 | 67.92 | 1.75 | 0.10 | 3.06 | 1.04 | 267 |
| Incl. | 24.69 | 32.49 | 7.80 | 66.12 | 3.22 | 0.14 | 3.58 | 0.87 | 383 |
| Incl. | 24.69 | 27.43 | 2.74 | 139.89 | 4.75 | 0.27 | 7.13 | 1.17 | 640 |
| SH25-02 | 14.23 | 29.57 | 15.33 | 33.22 | 2.09 | 0.05 | 1.11 | 1.37 | 237 |
| Incl. | 24.66 | 29.57 | 4.91 | 61.47 | 5.71 | 0.14 | 2.70 | 3.76 | 613 |
| Incl. | 26.40 | 28.13 | 1.74 | 68.70 | 13.15 | 0.08 | 2.92 | 0.47 | 1,155 |
| SH26-05 | 116.10 | 117.01 | 0.91 | 241 | 2.16 | 0.22 | 16.55 | 34.62 | 1,170 |
| SH26-07 | 129.91 | 142.52 | 12.62 | 42.32 | 46.54 | 0.12 | 1.39 | 3.26 | 3,786 |
| Including | 135.58 | 142.52 | 6.95 | 54.75 | 84.03 | 0.16 | 1.13 | 1.82 | 6,730 |
| And | 139.78 | 142.52 | 2.74 | 93.63 | 209.14 | 0.12 | 0.34 | 1.19 | 16,604 |
| SH26-08 | 186.05 | 199 | 12.95 | 42.5 | 1.3 | 0.2 | 6.5 | 13.4 | 447 |
| Including | 186.05 | 191.48 | 5.43 | 61.6 | 1.6 | 0.2 | 11.1 | 23.5 | 705 |
| Including | 188.37 | 191.48 | 3.11 | 94.1 | 2.2 | 0.3 | 17.2 | 36 | 1,063 |
| And | 196.44 | 199 | 2.56 | 74.8 | 2.1 | 0.3 | 8.8 | 15 | 604 |
Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. AgEq (silver equivalent) and AuEq (gold equivalent) are calculated using 200-day moving average metal prices as of Feb. 6, 2026 (Au US$124.5/g, Ag US$1.58/g, Cu US$4.9/lb, Pb US$0.90/lb, Zn US$1.11/lb). No metallurgical testwork has been completed on the Silver Hill project. Equivalent grades are calculated based on theoretical in-situ metal content, do not incorporate metallurgical recovery assumptions, and are provided for comparative exploration purposes only. Equivalent grades should not be interpreted as representing recoverable metal or economic value. Drill core samples were prepared and analyzed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250g split pulverized to 85% passing minus 75 micron. Gold was determined by fire assay; base metals by four-acid digestion with ICP-AES and ICP-MS finish. QA/QC protocols included certified reference standards, blanks, and duplicates inserted at regular intervals throughout the sample stream.
Next Steps
Building on Phase 1 results that confirmed a broader, higher-grade mineralized envelope than previously known, Metalsource is now aggressively advancing Phase 2 at Silver Hill.
We’ve known all along the Silver Hill Project was going to produce exciting results for our shareholders. It’s great to see the geology and the mineralization proving our exploration thesis and demonstrating new mineralization, confirming that this part of the system, near the old workings, is shallow in nature.
– Joe Cullen, CEO