Pacifica Silver Company (Private search engine: PSIL; OTCCP: Pajaf) update on exploration activities at the 100% owned Claudia Silver-Gold Project in Durango, Mexico. Recent test results from 286 surface channel samples collected in late 2025 and early 2026 have enabled the company to identify and begin drilling testing of two new high-priority targets in the Peñolera area and the recently identified Contraria vein swarm.
These targets are included in the company’s ongoing 20,000m Phase 2 drilling programme, with a total of 35 holes totaling more than 8,854m drilled as of 30 March. The company also granted 1.4 million incentive stock options to directors, officers, advisors and consultants.
Surface sampling has identified new high-priority drilling areas. Building on positive rock chip sampling results announced on October 9, 2025, recent multi-element assay results from 286 surface channel samples collected between late 2025 and early 2026 have confirmed high-grade silver and gold mineralization at the surface in previously unsampled and underexplored areas in the southern portion of the property.
An ongoing channel sampling and mapping programme, focusing on the area between the historic Tres Reyes and Mina Vieja mines, has extended the extent of known silver and gold mineralization in the Tres Reyes vein by 250 meters to the south; Extending known mineralization in the Peñolera area to approximately 600 metres; The extent of the Justina vein has been improved to approximately 750 metres; And filled with multiple passages across the Contararia vein swarm. Highlights from channel sampling include: 17.5 g/t Au and 59 g/t Ag over 0.6 metres; 4.82 g/t Au and 66 g/t Ag over 1.5 metres; 1.64 g/t Au and 109 g/t Ag over 1.5 metres; 0.51 g/t Au and 117 g/t Ag at 0.5 metres, and 1.48 g/t Au and 63 g/t Ag at 1.5 metres.
Highest gold assays were obtained from quartz veins in the Contararia vein swarm northwest of Mina Vieja, including 17.5 g/t Au and 59 g/t Ag over 0.6 metres, and 4.82 g/t Au and 66 g/t Ag over 1.5 metres. At the surface, the Contararia vein swarm consists of several intermittently exposed, parallel quartz veins, individually about 20 cm wide, extending over an area 300 m wide and 1.2 km long from the Guadalupana vein to Mina de Oro.
The highest silver assays of 117 g/t Ag and 0.51 g/t Au as well as 109 g/t Ag with 1.64 g/t Au came from the southern Tres Reyes vein and the eastern Peñolera zone, respectively. The Peñolera zone is a N70W zone, with up to 40 m wide parallel branch veins that intersect the Justina vein and extend westward into the Tres Reyes vein.
As of March 30, the company had drilled more than 8,854 meters in 35 diamond holes, including 354 meters in three Phase 1 holes that were re-entered and deepened.
The 20,000 meter Phase II drilling program is designed to further expand areas of high-grade silver and gold mineralization in the Aguilarina vein; Follow-up to the recent high-grade discovery in the Giustina vein and test drilling on the southern extension of the Aguilarena-Tres Reyes vein as well as the high-priority Giustina vein, the Contraria, Peñolera, Mina Vieja and Mina de Oro vein swarms.
Pacifica’s Board of Directors approved the grant of 1.4 million incentive stock options to directors, officers, advisors and consultants of the Company, pursuant to the Stock Incentive Plan.
Stock options have an exercise price of C$1.22 per share and are exercisable for a period of five years from the date of grant. The options will vest over 18 months, with 25% vesting upon grant, 25% vesting six months after the grant date and an additional 25% every six months thereafter. All options are subject to the terms and conditions of the Company’s stock incentive plan and regulatory approvals.
The Pacifica mapping and sampling program continues to cover large-scale areas of the Claudia Project that have not been previously explored. For the 286 samples analyzed up to March 14, the statistical distribution of assays based on silver and gold grades was as follows.
By silver values: The top 11 samples (4%) assessed ≥30 g/t Ag, with a maximum of 117 g/t Ag and average of 61 g/t Ag and 2.68 g/t Au. The top 23 samples (8%) evaluated ≥18 g/t Ag, averaging 40 g/t Ag and 1.43 g/t Au.
Across all 286 samples, the average was 5 g/t Ag and 0.19 g/t Au, including 213 samples that tested at or below the lower limit of detection of 2 g/t Ag.
By gold values: The top eight samples (2.8%) rated ≥1.00 g/t Au, with a maximum of 17.5 g/t Au and an average of 3.78 g/t Au and 43 g/t Ag.
The top 18 samples (6%) evaluated ≥0.5 g/t Au averaging 2.06 g/t Au and 33 g/t Ag. The top 46 samples (16%) evaluated ≥0.2 g/t Au with an average of 1.00 g/t Au and 21 g/t Ag.
The top 73 samples (26%) evaluated ≥0.1 g/t Au with an average of 0.68 g/t Au and 15 g/t Ag. For the 233 samples at or above the lower limit of detection, the average was 0.23 g/t Au and 6 g/t Ag. There were 53 samples (18%) that evaluated less than 0.005 g/t Au, the lower limit of detection.
The surface sample results in this press release are from channel samples collected by Pacifica geologists and field technicians with sample locations recorded using handheld GPS receivers with an accuracy of ±3.0 m.
Pacifica Silver is focused on the 100%-owned Claudia Silver-Gold project in Durango, Mexico. The project extends over an area of 11,876 hectares, and includes most of the historic El Papanton mining area where at least nine small mines operated intermittently during the twentieth century.
Since 1990, sampling and drilling inland has returned high-grade silver and gold discoveries across multiple vein systems, with only 10% of the more than 30 km of known veins having been drilled. Today, the project is a major target for modern exploration and holds exceptional potential for new, high-quality discoveries.
