{"success":true,"data":{"pressRelease":{"id":"90444","rtpr_id":"nNFC7hdfHn","ticker":"MSM","exchange":"","all_tickers":["MSM"],"title":"Metalsource Mining Identifies High Priority Drill Targets Across 2.4 Kilometres to Drive the Next Phase of Exploration at Silver Hill","author":"Newsfile Corp","published_at":"2026-07-16T12:30:14.831Z","article_body":"Newly identified targets exhibit geophysical characteristics analogous to the\nCompany's successful drilling, supporting accelerated exploration of a growing\npolymetallic system that remains open along strike, down dip and beyond the\nhistoric mine footprint.\n\nVancouver, British Columbia--(Newsfile Corp. - July 16, 2026) - Metalsource\nMining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) (\"Metalsource\" or the\n\"Company\") is pleased to announce the results of a recently completed induced\npolarization (\"IP\") survey designed to identify drill targets on strike from\nthe historic Silver Hill mine. The survey identified approximately 2.4\nkilometres of prospective strike length across two primary target areas,\nincluding a continuous 1.8 kilometre anomaly in the southern portion of the\nproject area, in the immediate vicinity of Silver Hill, and an additional 600\nmetre IP anomaly in the northeast corner of the property.\n\nThese IP data and recent drilling results continue to validate Metalsource's\nexploration thesis that mineralization remains open in all directions, and\nthere are significant opportunities to add scale to the mineralization\ndiscovered thus far through on strike and down dip exploration drilling.\n\nKey Highlights\n* Phase 2 IP survey identifies approximately 2.4 kilometres of prospective\ntarget areas across the Silver Hill district.\n* High priority drill targets display geophysical characteristics analogous to\nthe mineralized corridor defined by recent drilling.\n* Targets remain open north and south of the historic mine, significantly\nexpanding the Company's exploration pipeline.\n* Results strengthen management's evolving geological model that Silver Hill\nmay comprise multiple mineralized occurrences rather than a single historic\ndeposit.\n* Company advancing plans to increase drilling capacity to simultaneously\nexpand known mineralization and systematically test newly identified targets.\n(https://images.newsfilecorp.com/files/12035/305405_90115bf674546854_002full.jpg)\n\nFigure 1: Plan view showing the extent of recently completed ground IP Survey.\nRight: Unfiltered polarization results. Left: Polarization results filtered to\n20-35 msec to show anomalous trend. Note Project focus area includes the\nSilver Hill mine and a significant portion of the companies property position.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/12035/305405_90115bf674546854_002full.jpg\n\n(https://images.newsfilecorp.com/files/12035/305405_90115bf674546854_003full.jpg)\n\nFigure 2: Plan view showing resistivity results from ground IP survey with\nanomalous polarization data (points). Coincident polarization anomalies\n(20-35msec) with >1,500Ωm resistivity results is an exploration target.\nNote: Non-target resistivities removed for clarity on the right side of the\nimage.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/12035/305405_90115bf674546854_003full.jpg\n\nHigh-Grade Drilling Validates IP Targeting Model\n\nExploration drilling completed to date at Silver Hill has demonstrated\nsignificant metal endowment within the Company's target horizon. Drilling has\nso far identified mineralization in up to 18 metres of drill core, and\ncomposite assay results of up to 209 g/t gold, 241 g/t silver, 18.8% lead,\n39.4% zinc, and 5.4% copper (Table 1). The consistency of this polymetallic\nmineralization has established Silver Hill as an excellent candidate for\nelectrical geophysics and provided the foundation for the Company's evolving\nexploration model.\nAt Silver Hill, the combination of IP chargeability and resistivity data\nprovides two complementary and independently interpretable signals. Elevated\nchargeability values (greater than 20 milliseconds) are interpreted to\npotentially reflect the presence of metallic sulphide minerals, while\nresistivity distinguishes the silicified host of the mineralization (1,500 to\n4,000 ohm-m) from both the conductive weathered saprolite at surface and the\nhighly resistive volcanic package, which exceeds 5,000 ohm-m. This two\nparameter discrimination allows geophysically anomalous zones to be ranked not\nonly by their sulphide content, but also by their host rock environment,\nenabling the identification of interpreted mineralization occurring at the\nfavourable contact between volcanic flows and the underlying silicified host\nrocks.\n\nJoe Cullen, CEO of Metalsource Mining, commented:\n\n\"This survey represents a major step forward in our understanding of the\nSilver Hill district. What excites us most is not simply the number of targets\nidentified, but the quality of those targets. These targets exhibit\ngeophysical characteristics analogous to the corridor where we've already\ndelivered some of our strongest drill results. While these are exploration\ntargets, not drill results, they provide us with a compelling pipeline of\nopportunities that we intend to begin testing as we continue to accelerate\nexploration.\nAs drilling, geophysics and geological interpretation continue to come\ntogether, our confidence in the broader district continues to grow. Our\nworking geological model suggests Silver Hill may comprise multiple mineral\noccurrences rather than a single mineralized body, creating opportunities to\nexpand the system both along strike and down dip.\nWith plans to increase drilling capacity, our strategy is straightforward. One\ndrill program will continue systematically expanding the known Silver Hill\ndeposit, while additional drilling evaluates these newly identified high\npriority targets. Selecting where to drill first has become one of the more\ndifficult decisions because of the quality of the opportunities now in front\nof us, and we're excited to begin unlocking their potential aggressively in\nthe near term.\"\n\n Drill Hole ID From (m) To (m) Length (m) Au (g/t) Ag (g/t) Pb (%) Zn (%) Cu (%) AgEq (g/t)* \n SH25-01 14.32 32.49 18.17 1.8 67.9 3.1 1.0 0.1 267 \n Including 24.69 32.49 7.80 3.2 66.1 3.6 0.9 0.1 383 \n Including 24.69 27.43 2.74 4.8 139.9 7.1 1.2 0.3 640 \n SH25-02 14.23 29.57 15.33 2.1 33.2 1.1 1.4 0.1 237 \n Including 24.66 29.57 4.91 5.7 61.5 2.7 3.8 0.1 613 \n Including 26.40 28.13 1.74 13.2 68.7 2.9 0.5 0.1 1,155 \n SH26-07 129.91 142.52 12.62 46.5 42.3 1.4 3.3 0.1 3,786 \n Including 135.58 142.52 6.95 84.0 54.8 1.1 1.8 0.2 6,730 \n And 139.78 142.52 2.74 209.1 93.6 0.3 1.2 0.1 16,604 \n SH26-05 116.10 117.01 0.91 2.2 241.0 16.6 34.6 0.2 1,170 \n SH26-08 186.05 199.00 12.95 1.3 42.5 6.5 13.4 0.2 447 \n Including 186.05 191.48 5.43 1.6 61.6 11.1 23.5 0.2 705 \n Including 188.37 191.48 3.11 2.2 94.1 17.2 36.0 0.3 1,063 \n And 196.44 199.00 2.56 2.1 74.8 8.8 15.0 0.3 604 \n SH25-03 16.92 20.06 3.14 0.0 43.2 0.7 0.6 0.0 60 \n Including 16.92 18.41 1.49 0.0 61.4 0.5 0.1 0.0 67 \n SH25-04 58.55 60.11 1.55 0.2 40.4 1.5 2.6 0.0 113 \n Including 59.56 60.11 0.55 0.7 103.0 3.9 6.0 0.0 279 \n SH26-10 111.98 116.59 4.60 0.7 23.9 2.7 6.1 0.1 202 \n Including 116.01 116.59 0.58 1.2 146.8 13.6 17.6 0.3 656 \n SH26-11 138.41 149.05 10.64 3.3 27.0 3.3 7.9 0.2 434 \n Including 139.96 149.05 9.08 3.7 30.3 3.7 8.5 0.2 488 \n Including 142.98 146.15 3.17 9.7 52.4 6.5 14.7 0.4 1,087 \n Including 142.98 144.51 1.52 19.1 92.0 11.7 25.1 0.5 2,050 \n SH26-15 218.66 228.84 10.18 2.1 16.4 1.5 2.9 0.4 257 \n Including 218.66 219.36 0.70 8.3 59.5 0.4 1.4 5.4 1,039 \n Including 226.13 228.84 2.71 4.5 41.0 5.3 10.3 0.2 594 \n SH26-16 224.45 233.02 8.56 0.6 7.7 0.8 2.1 0.0 90 \n Including 224.45 224.85 0.40 11.3 23.8 1.5 6.0 0.1 984 \n Including 232.87 233.02 0.15 0.4 146.0 18.8 39.4 0.0 951 \n SH26-17 185.59 185.75 0.15 0.7 21.5 3.8 10.5 0.5 292 \n SH26-18 199.40 211.23 11.83 1.4 34.3 2.2 5.4 0.1 245 \n Including 199.40 200.80 1.40 7.3 19.7 1.5 16.0 0.3 833 \n Including 199.40 200.04 0.64 13.8 36.8 2.7 29.8 0.7 1,580 \n Including 208.94 211.23 2.29 1.7 152.7 9.8 16.0 0.4 636 \n SH26-19 218.60 224.88 6.28 9.9 54.0 3.7 21.7 0.1 1,156 \n Including 218.60 222.20 3.60 16.5 43.7 2.8 32.2 0.1 1,789 \n Including 224.00 224.88 0.88 2.7 157.3 10.8 18.9 0.3 762 \n And 227.93 228.23 0.30 3.3 64.6 4.2 15.9 0.3 609 \n\n \n\nTable 1: Summary of exploration drilling results thus far at Silver Hill.\n\nThe Company believes the combination of systematic drilling, modern geophysics\nand structural interpretation is transforming Silver Hill from a historically\nmined property into a modern district scale exploration opportunity with\nmultiple avenues for future growth.\n\nWhat's Next\n*\nAccelerating Exploration - Management is advancing plans to increase drilling\ncapacity to simultaneously expand the known Silver Hill deposit while\nsystematically testing newly identified priority targets.\n*\nMultiple Assays Pending - Results remain outstanding from several completed\ndrill holes, providing continued exploration catalysts as the current drill\nprogram advances.\n*\nTesting New Discovery Targets - Follow up drilling will prioritize the highest\nranking IP anomalies exhibiting characteristics analogous to the Company's\nsuccessful drilling.\n*\nExpanding the Geological Model - Ongoing drilling, IP surveys and geological\ninterpretation will continue refining management's understanding of the Silver\nHill district while evaluating opportunities to extend mineralization along\nstrike, down dip and beyond the historic mine footprint.\n*\nBuilding District Scale Value - Management will continue evaluating strategic\nopportunities that strengthen the Company's ability to systematically explore\nand unlock the broader Silver Hill district.\n\nWhy This Matters to Investors\n\nThe Phase 2 IP survey represents a significant evolution in the Silver Hill\nstory. Rather than simply identifying additional drill targets, the survey\nprovides a property scale framework for systematically exploring the broader\ndistrict and prioritizing future drilling.\n\nImportantly, the newly identified targets exhibit geophysical characteristics\nanalogous to the corridor where Metalsource has already intersected high-grade\nsilver, gold, lead, zinc and copper mineralization. While these anomalies\nremain exploration targets until drill tested, they substantially expand the\nCompany's pipeline of prospective targets and support management's evolving\ngeological model that Silver Hill may comprise multiple mineralized centres\nextending beyond the historic mine footprint.\n\nCombined with multiple pending assays, plans to increase drilling capacity and\nongoing geological interpretation, the Company believes it is entering the\nnext phase of exploration—one focused on not only expanding the known\nmineralization, but also systematically evaluating the broader district for\nadditional discoveries.\n\nMetalsource QA/QC protocols are maintained through the insertion of certified\nreference material (standards), blanks, and duplicates within the sample\nstream. The drill core is cut in half with a diamond saw, with one half placed\nin sealed bags and shipped to the laboratory and the other half retained on\nsite. Chain of custody is maintained from the drill to the submittal into the\nlaboratory preparation facility.\n\nAnalytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada\n(Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a\n250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest\nis performed on 0.25g of sample to quantitatively dissolve most geological\nmaterials. Analysis is performed with a combination of ICP-AES and ICP-MS and\nfire assay.\n\nThe exploration results described herein are preliminary in nature and are\ninsufficient to define a mineral resource. Further drilling is required to\ndetermine the continuity, geometry, and grade distribution of mineralization.\nAt the time of this release analytical results remain pending.\n\n*Metal values used in AgEq calculations are from the 200-day moving average\nvalues from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g,\nPCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds\nconversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal\nrecoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%,\nZn: 93.8% and Cu 90.8%. These recovery values are derived from batch\nmetallurgical testing used to estimate recoveries of Silver Hill ores,\ncompleted in 1988. Individual metal values in the results table are composited\nvalues and not factored by recovery. Metal recoveries are applied to their\nrespective component of the AgEq calculation only.\n\n(https://images.newsfilecorp.com/files/12035/305405_metalsourceimg.jpg)\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/12035/305405_metalsourceimg.jpg\n\nQualified Person\nAll scientific and technical information has been reviewed and approved by\nDarcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a\ncontractor of the Company, and a Qualified Person as defined under National\nInstrument (\"NI\") 43-101 - Standards of Disclosure for Mineral Projects.\n\nSilver Hill Project\n\nLocated in the Carolina Terrane, the property is underlain by volcaniclastic\nand volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian\nage. Current interpretations suggest this terrane is an extension of the\nAvalon Terrane. The property is 1,225 acres located in Davidson County, North\nCarolina. As the first significant discovery and first silver-producing mine\nin America, the property is supported by an extensive historic dataset,\nincluding drillhole data, underground mapping, historic dumps and underground\nchip samples. Currently known mineralization extends to 550m from surface, in\na steeply trending series of lenses, which remain open in multiple directions.\n\nByrd-Pilot Mountain Project\n\nThe Byrd-Pilot Mountain Project is located in central North Carolina within\nthe Carolina Terrane. Initial USGS surveys in the 1980s identified the area as\na potential host for a porphyry gold-copper system. Subsequent exploration\ndemonstrated broad gold mineralization in soils, trenches, and shallow RC\ndrilling, coincident with strong self-potential anomalies. Geology shows\nintense quartz-sericite-pyrite alteration, high-sulfidation signatures, and\nhigh-alumina minerals (like Haile and Brewer deposits to the south),\nsuggesting potential for a large epithermal or porphyry-related gold system.\nGeologic modelling of currently identified mineralization indicates an\neast-west trend open in multiple directions, with oxidation noted down to a\ndepth of 30m. No drilling has tested the Meridian discovery zone since those\n1980s campaigns, leaving potential for significant resource expansion through\nwork commitments of the agreement.\n\nAbout Metalsource Mining Inc.\n\nMetalsource Mining Inc. is a U.S.-focused precious and critical metals\nexploration company advancing the Silver Hill Project in North Carolina,\nwidely recognized as America's first silver mine. A historically producing\nmining district dating back to 1839, Silver Hill produced silver, gold, lead\nand zinc during the formative years of the American mining industry and\nremains one of the most historically significant mining assets in the United\nStates.\n\nThe Company is focused on expanding known mineralization, advancing toward a\nmodern resource estimate, and unlocking the broader potential of the Silver\nHill district through systematic drilling, geological modeling and modern\nexploration techniques.\n\nMetalsource Mining\nAmerica's First Silver Mine. Modern Exploration. Historic Opportunity.\n\nFor further information, please contact:\nJoe Cullen CEO - Metalsource Mining Inc.\nTel: (778) 919-8615\nEmail: jcullen@metalsourcemining.com\n\nCautionary Note About Forward-Looking Statements\n\nThis news release may include forward-looking statements that are subject to\nrisks and uncertainties. By its nature, this information is subject to\n‎‎inherent risks and ‎‎uncertainties that may be general or specific\nand which give rise to the possibility that ‎‎expectations,\n‎‎forecasts, predictions, projections, or conclusions will not prove to be\naccurate, that ‎‎assumptions may not ‎‎be correct, and that\nobjectives, strategic goals and priorities will not be achieved. ‎‎These\nrisks and ‎‎uncertainties include but are not limited those identified and\nreported in the Company's ‎‎public filings ‎‎under the Company's SEDAR\nprofile at www.sedarplus.ca. Although the Company has ‎‎attempted to\nidentify ‎‎important factors that could cause actual actions, events, or\nresults to differ ‎‎materially from those ‎‎described in\nforward-looking information, there may be other factors that cause\n‎‎actions, events or ‎‎results not to be as anticipated, estimated or\nintended. There can be no assurance that ‎‎such information ‎‎will\nprove to be accurate as actual results and future events could differ\nmaterially from ‎‎those ‎‎anticipated in such statements. The Company\ndisclaims any intention or obligation to update or ‎‎revise any\n‎‎forward-looking information, whether as a result of new information,\nfuture events or ‎‎otherwise unless ‎‎required by law.‎\n\nNeither the CSE nor the Market Regulator (as that term is defined in the\npolicies of the CSE) accepts responsibility for the adequacy or accuracy of\nthis release.\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/305405","article_body_html":"","raw_payload":{"data":{"id":"nNFC7hdfHn","title":"Metalsource Mining Identifies High Priority Drill Targets Across 2.4 Kilometres to Drive the Next Phase of Exploration at Silver Hill","author":"Newsfile Corp","ticker":"MSM","created":"2026-07-16T12:30:14.831Z","tickers":["MSM"],"exchange":"","article_body":"Newly identified targets exhibit geophysical characteristics analogous to the\nCompany's successful drilling, supporting accelerated exploration of a growing\npolymetallic system that remains open along strike, down dip and beyond the\nhistoric mine footprint.\n\nVancouver, British Columbia--(Newsfile Corp. - July 16, 2026) - Metalsource\nMining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) (\"Metalsource\" or the\n\"Company\") is pleased to announce the results of a recently completed induced\npolarization (\"IP\") survey designed to identify drill targets on strike from\nthe historic Silver Hill mine. The survey identified approximately 2.4\nkilometres of prospective strike length across two primary target areas,\nincluding a continuous 1.8 kilometre anomaly in the southern portion of the\nproject area, in the immediate vicinity of Silver Hill, and an additional 600\nmetre IP anomaly in the northeast corner of the property.\n\nThese IP data and recent drilling results continue to validate Metalsource's\nexploration thesis that mineralization remains open in all directions, and\nthere are significant opportunities to add scale to the mineralization\ndiscovered thus far through on strike and down dip exploration drilling.\n\nKey Highlights\n* Phase 2 IP survey identifies approximately 2.4 kilometres of prospective\ntarget areas across the Silver Hill district.\n* High priority drill targets display geophysical characteristics analogous to\nthe mineralized corridor defined by recent drilling.\n* Targets remain open north and south of the historic mine, significantly\nexpanding the Company's exploration pipeline.\n* Results strengthen management's evolving geological model that Silver Hill\nmay comprise multiple mineralized occurrences rather than a single historic\ndeposit.\n* Company advancing plans to increase drilling capacity to simultaneously\nexpand known mineralization and systematically test newly identified targets.\n(https://images.newsfilecorp.com/files/12035/305405_90115bf674546854_002full.jpg)\n\nFigure 1: Plan view showing the extent of recently completed ground IP Survey.\nRight: Unfiltered polarization results. Left: Polarization results filtered to\n20-35 msec to show anomalous trend. Note Project focus area includes the\nSilver Hill mine and a significant portion of the companies property position.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/12035/305405_90115bf674546854_002full.jpg\n\n(https://images.newsfilecorp.com/files/12035/305405_90115bf674546854_003full.jpg)\n\nFigure 2: Plan view showing resistivity results from ground IP survey with\nanomalous polarization data (points). Coincident polarization anomalies\n(20-35msec) with >1,500Ωm resistivity results is an exploration target.\nNote: Non-target resistivities removed for clarity on the right side of the\nimage.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/12035/305405_90115bf674546854_003full.jpg\n\nHigh-Grade Drilling Validates IP Targeting Model\n\nExploration drilling completed to date at Silver Hill has demonstrated\nsignificant metal endowment within the Company's target horizon. Drilling has\nso far identified mineralization in up to 18 metres of drill core, and\ncomposite assay results of up to 209 g/t gold, 241 g/t silver, 18.8% lead,\n39.4% zinc, and 5.4% copper (Table 1). The consistency of this polymetallic\nmineralization has established Silver Hill as an excellent candidate for\nelectrical geophysics and provided the foundation for the Company's evolving\nexploration model.\nAt Silver Hill, the combination of IP chargeability and resistivity data\nprovides two complementary and independently interpretable signals. Elevated\nchargeability values (greater than 20 milliseconds) are interpreted to\npotentially reflect the presence of metallic sulphide minerals, while\nresistivity distinguishes the silicified host of the mineralization (1,500 to\n4,000 ohm-m) from both the conductive weathered saprolite at surface and the\nhighly resistive volcanic package, which exceeds 5,000 ohm-m. This two\nparameter discrimination allows geophysically anomalous zones to be ranked not\nonly by their sulphide content, but also by their host rock environment,\nenabling the identification of interpreted mineralization occurring at the\nfavourable contact between volcanic flows and the underlying silicified host\nrocks.\n\nJoe Cullen, CEO of Metalsource Mining, commented:\n\n\"This survey represents a major step forward in our understanding of the\nSilver Hill district. What excites us most is not simply the number of targets\nidentified, but the quality of those targets. These targets exhibit\ngeophysical characteristics analogous to the corridor where we've already\ndelivered some of our strongest drill results. While these are exploration\ntargets, not drill results, they provide us with a compelling pipeline of\nopportunities that we intend to begin testing as we continue to accelerate\nexploration.\nAs drilling, geophysics and geological interpretation continue to come\ntogether, our confidence in the broader district continues to grow. Our\nworking geological model suggests Silver Hill may comprise multiple mineral\noccurrences rather than a single mineralized body, creating opportunities to\nexpand the system both along strike and down dip.\nWith plans to increase drilling capacity, our strategy is straightforward. One\ndrill program will continue systematically expanding the known Silver Hill\ndeposit, while additional drilling evaluates these newly identified high\npriority targets. Selecting where to drill first has become one of the more\ndifficult decisions because of the quality of the opportunities now in front\nof us, and we're excited to begin unlocking their potential aggressively in\nthe near term.\"\n\n Drill Hole ID From (m) To (m) Length (m) Au (g/t) Ag (g/t) Pb (%) Zn (%) Cu (%) AgEq (g/t)* \n SH25-01 14.32 32.49 18.17 1.8 67.9 3.1 1.0 0.1 267 \n Including 24.69 32.49 7.80 3.2 66.1 3.6 0.9 0.1 383 \n Including 24.69 27.43 2.74 4.8 139.9 7.1 1.2 0.3 640 \n SH25-02 14.23 29.57 15.33 2.1 33.2 1.1 1.4 0.1 237 \n Including 24.66 29.57 4.91 5.7 61.5 2.7 3.8 0.1 613 \n Including 26.40 28.13 1.74 13.2 68.7 2.9 0.5 0.1 1,155 \n SH26-07 129.91 142.52 12.62 46.5 42.3 1.4 3.3 0.1 3,786 \n Including 135.58 142.52 6.95 84.0 54.8 1.1 1.8 0.2 6,730 \n And 139.78 142.52 2.74 209.1 93.6 0.3 1.2 0.1 16,604 \n SH26-05 116.10 117.01 0.91 2.2 241.0 16.6 34.6 0.2 1,170 \n SH26-08 186.05 199.00 12.95 1.3 42.5 6.5 13.4 0.2 447 \n Including 186.05 191.48 5.43 1.6 61.6 11.1 23.5 0.2 705 \n Including 188.37 191.48 3.11 2.2 94.1 17.2 36.0 0.3 1,063 \n And 196.44 199.00 2.56 2.1 74.8 8.8 15.0 0.3 604 \n SH25-03 16.92 20.06 3.14 0.0 43.2 0.7 0.6 0.0 60 \n Including 16.92 18.41 1.49 0.0 61.4 0.5 0.1 0.0 67 \n SH25-04 58.55 60.11 1.55 0.2 40.4 1.5 2.6 0.0 113 \n Including 59.56 60.11 0.55 0.7 103.0 3.9 6.0 0.0 279 \n SH26-10 111.98 116.59 4.60 0.7 23.9 2.7 6.1 0.1 202 \n Including 116.01 116.59 0.58 1.2 146.8 13.6 17.6 0.3 656 \n SH26-11 138.41 149.05 10.64 3.3 27.0 3.3 7.9 0.2 434 \n Including 139.96 149.05 9.08 3.7 30.3 3.7 8.5 0.2 488 \n Including 142.98 146.15 3.17 9.7 52.4 6.5 14.7 0.4 1,087 \n Including 142.98 144.51 1.52 19.1 92.0 11.7 25.1 0.5 2,050 \n SH26-15 218.66 228.84 10.18 2.1 16.4 1.5 2.9 0.4 257 \n Including 218.66 219.36 0.70 8.3 59.5 0.4 1.4 5.4 1,039 \n Including 226.13 228.84 2.71 4.5 41.0 5.3 10.3 0.2 594 \n SH26-16 224.45 233.02 8.56 0.6 7.7 0.8 2.1 0.0 90 \n Including 224.45 224.85 0.40 11.3 23.8 1.5 6.0 0.1 984 \n Including 232.87 233.02 0.15 0.4 146.0 18.8 39.4 0.0 951 \n SH26-17 185.59 185.75 0.15 0.7 21.5 3.8 10.5 0.5 292 \n SH26-18 199.40 211.23 11.83 1.4 34.3 2.2 5.4 0.1 245 \n Including 199.40 200.80 1.40 7.3 19.7 1.5 16.0 0.3 833 \n Including 199.40 200.04 0.64 13.8 36.8 2.7 29.8 0.7 1,580 \n Including 208.94 211.23 2.29 1.7 152.7 9.8 16.0 0.4 636 \n SH26-19 218.60 224.88 6.28 9.9 54.0 3.7 21.7 0.1 1,156 \n Including 218.60 222.20 3.60 16.5 43.7 2.8 32.2 0.1 1,789 \n Including 224.00 224.88 0.88 2.7 157.3 10.8 18.9 0.3 762 \n And 227.93 228.23 0.30 3.3 64.6 4.2 15.9 0.3 609 \n\n \n\nTable 1: Summary of exploration drilling results thus far at Silver Hill.\n\nThe Company believes the combination of systematic drilling, modern geophysics\nand structural interpretation is transforming Silver Hill from a historically\nmined property into a modern district scale exploration opportunity with\nmultiple avenues for future growth.\n\nWhat's Next\n*\nAccelerating Exploration - Management is advancing plans to increase drilling\ncapacity to simultaneously expand the known Silver Hill deposit while\nsystematically testing newly identified priority targets.\n*\nMultiple Assays Pending - Results remain outstanding from several completed\ndrill holes, providing continued exploration catalysts as the current drill\nprogram advances.\n*\nTesting New Discovery Targets - Follow up drilling will prioritize the highest\nranking IP anomalies exhibiting characteristics analogous to the Company's\nsuccessful drilling.\n*\nExpanding the Geological Model - Ongoing drilling, IP surveys and geological\ninterpretation will continue refining management's understanding of the Silver\nHill district while evaluating opportunities to extend mineralization along\nstrike, down dip and beyond the historic mine footprint.\n*\nBuilding District Scale Value - Management will continue evaluating strategic\nopportunities that strengthen the Company's ability to systematically explore\nand unlock the broader Silver Hill district.\n\nWhy This Matters to Investors\n\nThe Phase 2 IP survey represents a significant evolution in the Silver Hill\nstory. Rather than simply identifying additional drill targets, the survey\nprovides a property scale framework for systematically exploring the broader\ndistrict and prioritizing future drilling.\n\nImportantly, the newly identified targets exhibit geophysical characteristics\nanalogous to the corridor where Metalsource has already intersected high-grade\nsilver, gold, lead, zinc and copper mineralization. While these anomalies\nremain exploration targets until drill tested, they substantially expand the\nCompany's pipeline of prospective targets and support management's evolving\ngeological model that Silver Hill may comprise multiple mineralized centres\nextending beyond the historic mine footprint.\n\nCombined with multiple pending assays, plans to increase drilling capacity and\nongoing geological interpretation, the Company believes it is entering the\nnext phase of exploration—one focused on not only expanding the known\nmineralization, but also systematically evaluating the broader district for\nadditional discoveries.\n\nMetalsource QA/QC protocols are maintained through the insertion of certified\nreference material (standards), blanks, and duplicates within the sample\nstream. The drill core is cut in half with a diamond saw, with one half placed\nin sealed bags and shipped to the laboratory and the other half retained on\nsite. Chain of custody is maintained from the drill to the submittal into the\nlaboratory preparation facility.\n\nAnalytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada\n(Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a\n250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest\nis performed on 0.25g of sample to quantitatively dissolve most geological\nmaterials. Analysis is performed with a combination of ICP-AES and ICP-MS and\nfire assay.\n\nThe exploration results described herein are preliminary in nature and are\ninsufficient to define a mineral resource. Further drilling is required to\ndetermine the continuity, geometry, and grade distribution of mineralization.\nAt the time of this release analytical results remain pending.\n\n*Metal values used in AgEq calculations are from the 200-day moving average\nvalues from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g,\nPCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds\nconversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal\nrecoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%,\nZn: 93.8% and Cu 90.8%. These recovery values are derived from batch\nmetallurgical testing used to estimate recoveries of Silver Hill ores,\ncompleted in 1988. Individual metal values in the results table are composited\nvalues and not factored by recovery. Metal recoveries are applied to their\nrespective component of the AgEq calculation only.\n\n(https://images.newsfilecorp.com/files/12035/305405_metalsourceimg.jpg)\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/12035/305405_metalsourceimg.jpg\n\nQualified Person\nAll scientific and technical information has been reviewed and approved by\nDarcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a\ncontractor of the Company, and a Qualified Person as defined under National\nInstrument (\"NI\") 43-101 - Standards of Disclosure for Mineral Projects.\n\nSilver Hill Project\n\nLocated in the Carolina Terrane, the property is underlain by volcaniclastic\nand volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian\nage. Current interpretations suggest this terrane is an extension of the\nAvalon Terrane. The property is 1,225 acres located in Davidson County, North\nCarolina. As the first significant discovery and first silver-producing mine\nin America, the property is supported by an extensive historic dataset,\nincluding drillhole data, underground mapping, historic dumps and underground\nchip samples. Currently known mineralization extends to 550m from surface, in\na steeply trending series of lenses, which remain open in multiple directions.\n\nByrd-Pilot Mountain Project\n\nThe Byrd-Pilot Mountain Project is located in central North Carolina within\nthe Carolina Terrane. Initial USGS surveys in the 1980s identified the area as\na potential host for a porphyry gold-copper system. Subsequent exploration\ndemonstrated broad gold mineralization in soils, trenches, and shallow RC\ndrilling, coincident with strong self-potential anomalies. Geology shows\nintense quartz-sericite-pyrite alteration, high-sulfidation signatures, and\nhigh-alumina minerals (like Haile and Brewer deposits to the south),\nsuggesting potential for a large epithermal or porphyry-related gold system.\nGeologic modelling of currently identified mineralization indicates an\neast-west trend open in multiple directions, with oxidation noted down to a\ndepth of 30m. No drilling has tested the Meridian discovery zone since those\n1980s campaigns, leaving potential for significant resource expansion through\nwork commitments of the agreement.\n\nAbout Metalsource Mining Inc.\n\nMetalsource Mining Inc. is a U.S.-focused precious and critical metals\nexploration company advancing the Silver Hill Project in North Carolina,\nwidely recognized as America's first silver mine. A historically producing\nmining district dating back to 1839, Silver Hill produced silver, gold, lead\nand zinc during the formative years of the American mining industry and\nremains one of the most historically significant mining assets in the United\nStates.\n\nThe Company is focused on expanding known mineralization, advancing toward a\nmodern resource estimate, and unlocking the broader potential of the Silver\nHill district through systematic drilling, geological modeling and modern\nexploration techniques.\n\nMetalsource Mining\nAmerica's First Silver Mine. Modern Exploration. Historic Opportunity.\n\nFor further information, please contact:\nJoe Cullen CEO - Metalsource Mining Inc.\nTel: (778) 919-8615\nEmail: jcullen@metalsourcemining.com\n\nCautionary Note About Forward-Looking Statements\n\nThis news release may include forward-looking statements that are subject to\nrisks and uncertainties. By its nature, this information is subject to\n‎‎inherent risks and ‎‎uncertainties that may be general or specific\nand which give rise to the possibility that ‎‎expectations,\n‎‎forecasts, predictions, projections, or conclusions will not prove to be\naccurate, that ‎‎assumptions may not ‎‎be correct, and that\nobjectives, strategic goals and priorities will not be achieved. ‎‎These\nrisks and ‎‎uncertainties include but are not limited those identified and\nreported in the Company's ‎‎public filings ‎‎under the Company's SEDAR\nprofile at www.sedarplus.ca. Although the Company has ‎‎attempted to\nidentify ‎‎important factors that could cause actual actions, events, or\nresults to differ ‎‎materially from those ‎‎described in\nforward-looking information, there may be other factors that cause\n‎‎actions, events or ‎‎results not to be as anticipated, estimated or\nintended. There can be no assurance that ‎‎such information ‎‎will\nprove to be accurate as actual results and future events could differ\nmaterially from ‎‎those ‎‎anticipated in such statements. The Company\ndisclaims any intention or obligation to update or ‎‎revise any\n‎‎forward-looking information, whether as a result of new information,\nfuture events or ‎‎otherwise unless ‎‎required by law.‎\n\nNeither the CSE nor the Market Regulator (as that term is defined in the\npolicies of the CSE) accepts responsibility for the adequacy or accuracy of\nthis release.\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/305405"},"type":"article","timestamp":"2026-07-16T12:30:15.042963892Z","server_sent_at_ms":1784205015042},"received_at":"2026-07-16T12:30:15.277Z","source_url":"https://www.newsfilecorp.com/release/305405"},"analysis":{"id":"79493","press_release_id":"90444","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["AgEq calculations rely on metallurgical recovery estimates from 1988 testing.","Exploration results are preliminary and insufficient to define a mineral resource."],"eventType":"operations_update","narrative":"Metalsource Mining identified 2.4 kilometers of prospective strike length at the Silver Hill project via a Phase 2 IP survey, including a continuous 1.8 km anomaly near the historic mine.\n\nThe newly defined targets exhibit geophysical characteristics analogous to the company's recent high-grade drill intercepts, validating the exploration thesis that mineralization remains open in all directions.\n\nManagement plans to increase drilling capacity to simultaneously expand known mineralization and test these priority targets, with multiple assay results currently pending.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"IP survey expands Silver Hill pipeline to 2.4km of high-priority targets."},"keyFigures":{"customDimensions":{"max_gold_grade_g_t":209.1,"max_silver_grade_g_t":241,"max_lead_grade_percent":18.8,"max_zinc_grade_percent":39.4,"target_strike_length_km":2.4,"max_copper_grade_percent":5.4,"southern_anomaly_length_km":1.8,"northeastern_anomaly_length_m":600}},"quotedText":"What excites us most is not simply the number of targets identified, but the quality of those targets.","namedEntities":{"people":[{"name":"Joe Cullen","role":"CEO"},{"name":"Darcy Vis","role":"Qualified Person, P.Geo."}],"products":["Silver Hill Project","Byrd-Pilot Mountain Project"],"companies":[{"name":"Metalsource Mining Inc.","ticker":"MSM"},{"name":"ALS Geochemistry","relationship":"laboratory"},{"name":"Tripoint Geological Services Ltd.","relationship":"contractor"}],"dollarAmounts":[]},"materialImpact":{"score":3,"reasoning":"Identification of 2.4 kilometers of prospective strike length significantly expands the exploration pipeline and validates the geological model, positioning the company for accelerated drilling but lacking a defined resource estimate at this stage."},"tickerRelevance":{"others":[],"primary":"MSM"},"globalImportance":20,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"exploration_milestone","sectorWeight":"standard"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Metalsource Mining identified 2.4 kilometers of prospective strike length at the Silver Hill project via a Phase 2 IP survey, including a continuous 1.8 km anomaly near the historic mine.\n\nThe newly defined targets exhibit geophysical characteristics analogous to the company's recent high-grade drill intercepts, validating the exploration thesis that mineralization remains open in all directions.\n\nManagement plans to increase drilling capacity to simultaneously expand known mineralization and test these priority targets, with multiple assay results currently pending.","key_figures":{"customDimensions":{"max_gold_grade_g_t":209.1,"max_silver_grade_g_t":241,"max_lead_grade_percent":18.8,"max_zinc_grade_percent":39.4,"target_strike_length_km":2.4,"max_copper_grade_percent":5.4,"southern_anomaly_length_km":1.8,"northeastern_anomaly_length_m":600}},"named_entities":{"people":[{"name":"Joe Cullen","role":"CEO"},{"name":"Darcy Vis","role":"Qualified Person, P.Geo."}],"products":["Silver Hill Project","Byrd-Pilot Mountain Project"],"companies":[{"name":"Metalsource Mining Inc.","ticker":"MSM"},{"name":"ALS Geochemistry","relationship":"laboratory"},{"name":"Tripoint Geological Services Ltd.","relationship":"contractor"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-16T14:59:47.248Z","global_importance":20,"audience_relevance":15,"importance_components":{"tickerTier":"micro-cap","eventGravity":"exploration_milestone","sectorWeight":"standard"}},"durationMs":166245,"modelName":"glm-4.7"}}