OUTCROP SILVER DRILLS 1.06 METRES AT 1,930 G/T AGEQ IN 150-METRE STEP-OUT, CONFIRMING HIGH-GRADE NORTHERN EXTENSION AND EXPANDING LOS MANGOS VEIN SYSTEM

Cision Canada

08-07-2025

VANCOUVER, BC, July 8, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to report continued drilling success from the Los Mangos vein system, part of its 100%-owned Santa Ana high-grade silver project in Colombia. The latest results highlight the expansion potential of the system along strike to the north and continued high-grade mineralization associated with the Mangos fault structure to the south.
Highlights
Hole DH469 intersected 1.06 metres grading 1,930 g/t AgEq in the Los Mangos vein, including 0.30 metres grading 4,988 g/t AgEq (Table 1, Figure 4).
Step-out drilling 150 metres north of known mineralization confirms the continuity of the Los Mangos vein system and outlines a potential new high-grade shoot (Figure 1 and Figure 3), reinforcing the importance of significant future mineral resource expansion.
Holes DH469 and DH472 represent a 150-metre step-out to the north from known mineralization. The zone tested lies beneath a minor topographic elevation and confirms the continuity of the Los Mangos vein system, as well as the presence of high-grade mineralization at depth (Figure 3). These results significantly extend the system's footprint and indicate the presence of a new mineralized shoot north of the previous intercepts. The discovery of high-grade silver mineralization in hole DH469 strongly supports the potential for additional high-grade zones deeper in the system. Follow-up drilling is planned to evaluate the vertical continuity and volume potential of this emerging northern shoot.
Hole DH466 confirms that the Mangos Fault continues to deliver encouraging silver grades at depth, even at the southern margins of the known system. The Mangos Fault has emerged as a promising structure with consistent mineralization, reinforcing its role in controlling high-grade shoots (Figure 2).
"The result from DH469 is a powerful confirmation that the Los Mangos vein system continues to deliver high-grade silver mineralization even beyond our current footprint," commented Guillermo Hernandez, Vice President of Exploration. "This 150-meter step-out significantly expands the system and opens a new corridor for future mineral resource growth. Our team is excited to test this zone at depth, as the geometry and grade point to another shoot, reinforcing our strategy of stepping out aggressively while continuing to build on our vein inventory."
Outcrop Silver has completed over 13,400 metres of drilling across the Santa Ana Project in 2025 and continues to advance both mineral resource growth and discovery-focused drilling, with three rigs currently active on site.
Table 1. Drill hole assay results reported in this release. * The current knowledge of this structure does not allow for estimating the true width.
Table 2. Surface chip and grab sample results in the Los Mangos vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (see News Releases dated August 23, 2023, and March 12, 2025). By their nature, grab samples are selective, and the assay results may not necessarily represent true underlying mineralization. Coordinates are UTM system, zone 18N and WGS84 projection.
Hole ID
Hole Code
Easting
(m)
Northing
(m)
Elevation
(m)
Depth
(m)
Azimuth
(°)
Dip
(°)
DH420
SALM24HD420
501916.349
556451.154
915.18
200.25
303
-45
DH423
SALM24DH423
501917.600
556451.345
915.19
164.71
333
-45
DH425
SALM24DH425
501915.818
556450.553
914.73
215.49
285
-55
DH428
SALM24DH428
501915.742
556450.146
915.19
227.99
273
-55
DH432
SALM24DH432
501881.348
556447.027
921.96
131.46
321
-45
DH434
SALM25DH434
501881.468
556446.758
922.44
151.66
310
-45
DH436
SALM25DH436
501797.491
556358.423
989.71
179.22
315
-51
DH438
SALM25DH438
501796.942
556358.077
989.68
210.61
298
-50
DH440
SALM25DH440
501796.528
556357.559
989.84
190.19
286
-45
DH442
SALM25DH442
501796.528
556357.559
989.84
201.47
335
-49
DH444
SALM25DH444
501796.901
556358.092
989.81
200.55
306
-58
DH447
SALM25DH447
501766.685
556378.891
998.44
120.09
325
-51
DH449
SALM25DH449
501797.565
556358.288
989.73
163.98
325
-58
DH451
SALM25DH451
501796.972
556357.896
989.75
250.24
302
-65
DH453
SALM25DH453
501796.830
556357.426
989.55
242.62
286
-59
DH454
SALM25DH454
501796.932
556357.896
989.59
286.20
305
-69
DH457
SALM25DH457
501797.401
556358.269
989.55
248.71
324
-65
DH459
SALM25DH459
501797.979
556358.194
989.86
229.39
346
-60
DH461
SALM25DH461
501797.955
556358.119
989.36
273.40
346
-66
DH464
SALM25DH464
501796.568
556357.185
989.75
250.24
286
-62
DH466
SALM25DH466
501796.455
556357.080
989.40
298.94
286
-68
DH469
SALM25DH469
502040.595
556537.783
851.73
269.06
315
-45
DH472
SALM25DH472
502040.791
556537.570
851.35
365.05
315
-58
Table 3. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection.
Fe de erratas – Revised intercept for hole DH461
During routine internal quality control, the company identified an underreported silver value in its database for sample #11140 (from 228.14 to 228.45 metres), initially disclosed in the news release dated May 14, 2025. The silver grade was mistakenly recorded as 1,500 g/t Ag, which reflected the capped limit used for the specific assay method (8AR-AA), rather than the actual overlimit value reported through Fire-Assay on the original laboratory certificate (FA-GRA). The correct silver grade for sample #11140 is 5,711 g/t Ag (Table 4).
Revised Intercept for DH461 (Table 4):
Previous interval: 5.27 metres grading 208 g/t AgEq, including 0.61 metres at 1,282 g/t AgEq.
Corrected interval: 5.27 metres grading 456 g/t AgEq, including 0.61 metres at 3,422 g/t AgEq.
Table 4. Revised drill hole assays from hole DH461. * The current knowledge of this structure does not allow for estimating the true width.
1 Silver Equivalent
Metal prices used for equivalent calculations were US$1,800/oz for gold, and US$25/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93% for silver (see news release dated August 23, 2023). The equivalency formula is as follows:
QA/QC
Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Underground channel samples were taken perpendicular to the vein and sample length was broken by geology. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, 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 Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at approximately three control samples every twenty samples into the sample stream, monitoring laboratory performance. A comparison of control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible 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 over-limits. Multi-element 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.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Mr. Guillermo Hernandez, CPG-AIPG, Vice-President Exploration at Outcrop Silver. Mr. Hernandez is a Qualified Person for the Company as defined by National Instrument 43-101.
About Santa Ana
The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through titles and applications, known as the largest and highest-grade primary silver district in Colombia with mining records dating back to 1585.
Santa Ana's maiden resource estimate, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 1,226 thousand tonnes containing 24.2 million ounces silver equivalent 1 at a grade of 614 grams per tonne and an inferred resource of 966 thousand tonnes containing 13.5 million ounces at a grade of 435 grams per tonne of silver equivalent 1. The identified resources span seven major vein systems that include multiple parallel veins and ore shoots: Santa Ana (San Antonio, Roberto Tovar, San Juan shoots); La Porfia (La Ivana); El Dorado (El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.
The drilling campaign aims to extend known mineralization and test new high-potential areas along the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's exploration strategy aims to demonstrate a clear pathway to substantially expand the resource. These efforts underscore the scalability of Santa Ana and its potential for substantial resource growth, positioning the project to develop into a high-grade, economically viable, and environmentally responsible silver mine.
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.
At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Harris
Chief Executive Officer
[phone]
[email protected]
www.outcropsilver.com
Kathy Li
Vice President of Investor Relations
[phone]
[email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.