Magma Silver Niñobamba Phase 2 Work Program Results

Rhea-AI Summary

Magma Silver (OTCQB: MAGMF) reported Phase 2 results from the Niñobamba project in Peru covering Joramina and Randypata. Phase 2 sampled 70 specimens over a 10-day campaign and confirmed historical results in places while exceeding them in others.

Key assays include 10 m @ 2.32 g/t Au, a 5 m composite @ 4.085 oz/t Ag, a 0.70 m chip @ 17.41 g/t Au & 13.94 oz/t Ag, and a Randypata grab of 0.20 g/t Au & 8.55 oz/t Ag. Company plans drilling using revised orientations; some samples will be re-assayed for QC and lead/zinc follow-up assays are planned.

Positive

• 10 metres @ 2.32 g/t gold confirmed in Joramina drift
• 5-metre composite returned 4.085 oz/t silver
• 0.70 metres @ 17.41 g/t gold and 13.94 oz/t silver
• 70 samples analyzed during Phase 2 field campaign

Negative

• Randypata 2 km silver anomaly remains untested by drilling
• Historical drilling likely did not test optimal Joramina orientations

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2025) - Magma Silver Corp. (TSXV: MGMA) (OTCQB: MAGMF) (FSE: BC21) (WKN: A411DV) (the "Company" or "Magma") is pleased to provide an update on the Q3 ongoing work program on the Joramina and Randypata properties on the advanced Niñobamba silver gold project in Peru.

Highlights:

• Drift sampling on the Joramina zone returned 10 metres of 2.32 grams Au/tonne and 5-metre composite returning 4.085 ounces Ag/tonne.
• Sampling close to the drift on the Joramina zone returned 0.70 metres of 17.41 grams Au/tonne and 13.94 ounces Ag/tonne.
• A random composite grab sample returned 0.20 grams Au/tonne and 8.55 ounces Ag/tonne on the undrilled Randypata 2 km silver anomaly.

Stephen Barley, Chairman & CEO of Magma stated: "The Niñobamba project is comprised of three contiguous properties now controlled by Magma, totalling 4,100 hectares: the Joramina, Randypata, and the Ninobamba Main. The Q3 work program consisted of sampling and additional geological mapping. The purpose of the exploration program was to validate the previous results and to aid in designing a drill program. Phase 1 and 2 results confirmed the accuracy of the historical Newmont results and, in some instances, exceeded the earlier results. Furthermore, geologic mapping shows that the previous drilling may not have been in the most optimal direction. Our geological team will determine a new drill direction. Community engagement has been excellent, and we appreciate the ir hard work during the initial two phases of work."

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Phase 2 Q3 Work Program Results

The Phase 2 field campaign lasted 10 days and it was conducted by Senior Geologist Edgar Leon (see news release dated July 16, 2025) and Junior Geologist Miller Fernandez, with the support of six community members from the local Tunsulla community. The work was a continuation of the Phase 1 program summarized in the Company's news release dated September 18, 2025.

The Phase 2 program focused on the Joramina and Randypata Zones. Several old mine workings were located and sampled in both exploration phases. A long, well-developed 157 metre drift trending with an azimuth of 120 degrees was located within the main Joramina area, yet it was never documented in any of the previous operator exploration programs. Thirty-one samples were taken from the drift in 5-meter composite chips. The best gold results show two consecutive samples returning 10 metres of 2.32 grams Au/tonne. The best silver result was a 5-metre composite returning 4.085 ounces Ag/tonne. The drift is within the area of the proposed drilling and is in excellent condition and may be used in the future for underground drill sites.

Additional surface sampling was conducted approximately 100 metres northeast of the drift confirming that the silver-gold mineralization is structurally controlled with several fractures and veinlets trending NE-SW dipping Northwest. One chip sample across 0.70 metres returned 17.41 grams Au/tonne and 13.94 ounces Ag/tonne. Galena (Lead Sulphide) and Sphalerite (Zinc Sulphide) are present in the veins but have not yet been assayed for these elements. The Company will assay some of the samples for lead and zinc when check assays are being performed.

Phase 2 program also included a brief surface review of the Randypata Zone. Twenty-one samples were taken over the historic 2-kilometre Ag anomaly. This area is untested by drilling. The best result came from an area where a road cut exposed a strongly oxidized breccia, where a random composite grab sample returned 0.20 grams Au/tonne and 8.55 ounces Ag/tonne. Follow-up work is required in this area to determine the extent of the Ag mineralization.

Magma is pleased with the results of the first two phases of the initial exploration programs. The Company is now convinced the previous drill programs did not adequately test the Joramina zones. A drill program will be designed to test the gold-silver mineralized structures with the optimal drill direction.

Seventy samples were collected during phase 2 and analyzed at the Independent Mining Lab Services based in Huancayo in south-central Peru. The analysis method was by fire assay, and every 10th sample will be re-assayed at another independent assay lab in Lima, Peru, for quality control.

Qualified Person

Jeffrey Reeder, P.Geo, a Qualified Person as defined in National Instrument 43-101 and a Senior Technical Advisor of the Company, has prepared, or supervised the preparation of the assays and approved the scientific and technical disclosure contained in this news release.

About Magma Silver Corp.

Magma Silver Corp. is a natural resources exploration company focused on acquiring, exploring, developing, and operating precious metal mining projects. Listed on the TSV Venture Exchange ("MGMA"), OTCQB ("MAGMF"), and Frankfurt Exchange ("BC21"), the Company's primary focus is on exploring and developing the advanced Niñobamba silver-gold project in the mining-friendly country of Peru. Niñobamba spans an 8 km mineralized corridor in a prolific geological belt of a high-sulphidation epithermal system. Extensive exploration by Newmont Corporation, AngloGold Ashanti Limited, Bear Creek Mining Corporation and Rio Silver, has demonstrated significant resource potential with over C$14.5 million invested to date. Magma is advancing its Niñobamba project using modern geological modelling and a strategic development plan. The property has excellent infrastructure, strong relationships with local communities and a regional technical team with over 50 years of mining experience in Peru.

For more information, please visit our website at www.magmasilver.com.

Contact Information

Stephen Barley, Chairman & CEO
Phone: +1 (604) 252-2672
Email: ir@magmasilver.com
Website: www.magmasilver.com
X: @MagmaSilverCorp

Jason Baker, CFO & Director
Phone: +1 (604) 252-2672
Email: ir@magmasilver.com
Website: www.magmasilver.com
X: @MagmaSilverCorp

Reader Advisory

This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Magma Silver Corp.'s periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions are forward-looking statements. The information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include those in relation to (i) the accuracy of the Newmont internal assessment and the Company's ability to match future results with the Newmont results; (ii) the Company's cost and timing expectations; (iii) and the check assays being tested by Inspectorate confirming the non-accredited assays. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can't make any assurances that its expectations will be achieved. Such assumptions may prove incorrect. Although the Company has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that the Company will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this releas

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FAQ

What were Magma Silver (MAGMF) Phase 2 Niñobamba assay highlights on October 30, 2025?

Highlights include 10 m @ 2.32 g/t Au, 5 m @ 4.085 oz/t Ag, and 0.70 m @ 17.41 g/t Au & 13.94 oz/t Ag.

How many samples did Magma Silver analyze in the Phase 2 Niñobamba program (MAGMF)?

The Phase 2 campaign collected and analyzed 70 samples, with every 10th sample re-assayed for QC.

Will Magma Silver (MAGMF) drill at Niñobamba after the Phase 2 results?

Yes. The company plans to design a drill program using a revised drill direction to better test the Joramina structures.

What is the status of the Randypata silver anomaly for MAGMF investors?

Randypata hosts a 2 km historic Ag anomaly that is untested by drilling; follow-up work is required after a grab of 8.55 oz/t Ag.

Were samples re-assayed or QA/QC performed on MAGMF Phase 2 assays?

Yes. All samples were analyzed at an independent lab in Huancayo and every 10th sample will be re-assayed at another independent lab in Lima.

Did Phase 2 find new underground workings at Niñobamba for MAGMF?

Yes. A previously undocumented 157 metre drift was located in Joramina and may be used for future underground drill sites.