First Andes Silver to Acquire Silver Focused Properties in New South Wales, Australia

Rhea-AI Summary

First Andes Silver (OTC: MSLVF) will acquire three silver-focused exploration licence applications in New South Wales, Australia — Carrington, Stoney Creek and Dartmoor — totaling ~454 km2 (45,400 ha) in the Lachlan Orogen, announced December 9, 2025.

Key highlights include historical surface assays up to 6,037 g/t Ag and 85 g/t Au at Carrington, past samples of 212 g/t Ag at Stoney Creek and reported small-scale Dartmoor production averaging 980 g/t Ag and 12% Cu. Purchase consideration: AUD $15,500 plus 1,500,000 common shares, subject to TSX Venture Exchange acceptance.

Positive

• Acquisition adds ~454 km2 of silver-focused tenure in Lachlan Orogen
• Historic high-grade assays up to 6,037 g/t Ag and 85 g/t Au at Carrington
• Portfolio contains at least 12 historic silver/gold/polymetallic mines and prospects
• Transaction aligns with capital strategy via modest upfront cash and staged commitments

Negative

• Consideration includes 1,500,000 common shares, creating potential dilution
• Transaction is subject to TSX Venture Exchange acceptance, not final
• Reported grades are historic surface and production samples, not current resources

News Market Reaction

-7.07%

1 alert

-7.07% News Effect

On the day this news was published, MSLVF declined 7.07%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

NSW project area: 454 km² Cash consideration: AUD $15,500 Share consideration: 1,500,000 shares +5 more

8 metrics

NSW project area 454 km² Total of three silver-focused exploration licence applications in New South Wales

Cash consideration AUD $15,500 Asset purchase price payable to South Star Pty Ltd for Silver Projects

Share consideration 1,500,000 shares Common shares to be issued to vendor, subject to 4‑month resale restriction

Carrington Ag grade 6,037 g/t Ag Historic surface sampling at Carrington project

Carrington Au grade 85 g/t Au Historic surface sampling at Carrington project

Stoney Creek Ag grade 212 g/t Ag Historic sampling at Stoney Creek prospect

Dartmoor Ag production 980 g/t Ag Reported small-scale historic production average at Dartmoor

Dartmoor Cu grade 12% Cu Reported small-scale historic production average at Dartmoor

Market Reality Check

Price: $0.1321 Vol: Volume 121,649 is about 2...

high vol

$0.1321 Last Close

Volume Volume 121,649 is about 2.1x the 20-day average of 57,814, indicating elevated pre‑news interest. high

Technical Price 0.07965 is trading below the 200-day MA at 0.11, after a 10.46% daily gain.

Peers on Argus

MSLVF gained 10.46% while peers were mixed: SWLFF up 4.8%, PEXZF up 9.03%, GGLXF...

MSLVF gained 10.46% while peers were mixed: SWLFF up 4.8%, PEXZF up 9.03%, GGLXF flat, and ENDMF and PLLMF down. The move appears more stock‑specific than a broad sector rotation.

Historical Context

5 past events · Latest: Dec 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 09	Asset acquisition	Positive	-7.1%	Acquisition of three NSW silver exploration licence applications with high historic grades.
Dec 08	Exploration update	Positive	+2.3%	Santas Gloria Phase 1 soils completed early and under budget with lab work underway.
Nov 03	Drilling summary	Positive	+14.9%	Consolidated 2024–2025 drilling results and outlined Phase 3 drill plans for 2026.
Sep 16	Drill results	Positive	+4.5%	Final Santas Gloria assays with multiple significant AgEq intercepts in San Jorge Vein.
Aug 22	Market making deal	Neutral	+0.0%	Engagement of ICP Securities for automated market making at fixed monthly fee.

Pattern Detected

Recent operational and exploration updates have generally seen positive price reactions, with this acquisition announcement previously showing the only notable divergence.

Recent Company History

Over the last few months, First Andes Silver has focused on advancing its Santas Gloria project and strengthening trading liquidity. Drilling results and exploration updates on Santas Gloria in September 2025 and November 2025 produced constructive market reactions, as did an exploration program update on December 8, 2025. An automated market‑making agreement in August 2025 had a neutral impact. The current acquisition of three New South Wales silver projects on December 9, 2025 adds a new exploration pipeline alongside the existing Peruvian flagship asset.

Market Pulse Summary

The stock moved -7.1% in the session following this news. A negative reaction despite positive-sound...

Analysis

The stock moved -7.1% in the session following this news. A negative reaction despite positive-sounding exploration news would fit the one prior divergence seen when this acquisition was first announced, contrasting with generally constructive responses to drilling and program updates in 2025. With the share price still well below its 52‑week high yet up sharply from the 52‑week low, positioning could amplify downside if investors focus on dilution from the 1,500,000 share issuance or execution risk across multiple projects.

Key Terms

asset purchase agreement, skarns, epithermal, orogenic, +3 more

7 terms

asset purchase agreement financial

"today announced that it has entered into an asset purchase agreement to acquire three"

An asset purchase agreement is a legal contract in which a buyer agrees to buy specific assets and contracts of a business rather than buying the company’s stock or ownership. It matters to investors because it determines exactly what is being bought and what liabilities stay behind — like buying the furniture and equipment from a store but not the building or past debts — which affects the deal’s value, taxes and future risk exposure.

skarns technical

"iron-rich Au-Ag-Pb-Sb skarns at Carrington, epithermal and/or orogenic Au-Ag vein"

Skarns are hardened, altered rocks formed where hot molten rock or fluids meet limestone or other carbonate rocks, creating chemical reactions that concentrate metals. They matter to investors because these zones often host economically valuable deposits of metals like copper, iron, gold and tungsten, acting like natural ore factories; finding a skarn can signal a viable mining target and influence a mining company's valuation and exploration priorities.

epithermal technical

"epithermal and/or orogenic Au-Ag vein systems at Stoney Creek"

Epithermal describes a type of mineral deposit formed when hot fluids near the Earth’s surface deposit metals such as gold and silver into cracks and porous rock, often creating concentrated ‘veins’ or pockets. For investors, epithermal deposits matter because they can host high-grade, easily accessible ore that may lower extraction costs and shorten the time from discovery to production, affecting project value and exploration risk.

orogenic technical

"epithermal and/or orogenic Au-Ag vein systems at Stoney Creek"

Relating to the geological processes that create mountains and fold, break, or uplift Earth's crust; these processes control where rock layers and mineral deposits end up. Investors care because orogenic activity often concentrates valuable metals and shapes the depth, size, and accessibility of mineral resources, much like wrinkles in a carpet can gather dust in certain folds, so understanding it helps assess exploration potential and mining risk.

gossan technical

"Historic mining at Carrington exploited laterally extensive mineralized gossans up to 6 meters wide."

A gossan is a rust-like, iron-rich rock layer formed when near-surface sulfide minerals break down and oxidize, leaving a stained, crumbly cap that can be seen from the surface. It matters to investors because a gossan often serves as a visible clue that valuable metal deposits may exist below; like finding rust on a roof that hints at structural rot underneath, it can guide exploration, raise prospect value, and influence drilling decisions and investment risk.

National Instrument 43-101 regulatory

"a Qualified Person under National Instrument 43-101, has reviewed and approved"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

Qualified Person regulatory

"a Qualified Person under National Instrument 43-101, has reviewed and approved"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - December 9, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) ("First Andes" or the "Company") today announced that it has entered into an asset purchase agreement to acquire three (3) silver-focused exploration licence applications totalling approximately 454 km² in New South Wales, Australia. The concessions, located within the well-mineralized Lachlan Orogenic Belt, are known as the Carrington Project ("Carrington"), the Stoney Creek Project ("Stony Creek") and the Dartmoor Project ("Dartmoor") (together, the "Silver Projects").

Highlights:

• Three large silver-gold exploration licence applications totaling approximately 454 km² (45,400 ha) in the highly prospective Lachlan Orogen of New South Wales, Australia (Figure 1);
• Portfolio covers an area containing at least 12 historic silver, gold and polymetallic mines and prospects, including multiple high-grade past producers;
• Historical silver and gold grades from surface grab, chip and production samples (see Sentinel Resources Corp. news release dated October 13, 2020):
  • 6,037 g/t Ag and 85 g/t Au at Carrington
  • 212 g/t Ag and 18 g/t Au at Stoney Creek, and
  • Small-scale historic production averaging 980 g/t Ag and 12% Cu at Dartmoor;
• Multiple complementary deposit styles: iron-rich Au-Ag-Pb-Sb skarns at Carrington, epithermal and/or orogenic Au-Ag vein systems at Stoney Creek, and VHMS-style massive sulphide mineralization at Dartmoor;
• Transaction structured with modest upfront consideration and staged exploration commitments, aligning with First Andes' capital deployment strategy;
• Provides additional exploration opportunities while continuing to aggressively advance First Andes' flagship Santas Gloria Silver Project.

Colin Smith, CEO, commented: "We are pleased to be acquiring three highly prospective silver exploration licences in New South Wales, a jurisdiction well known for its silver-rich deposits. The combination of high-grade historic silver and gold results, multiple deposit styles and excellent access to infrastructure provides First Andes with a cost-effective, year-round exploration pipeline that complements our flagship Santas Gloria Silver Project in Peru. While Santas Gloria remains our primary focus, we see strong potential to generate additional discoveries and shareholder value from the NSW Silver Projects over time."

Carrington (ELA 6982)

Carrington is a 160 km² exploration licence application (ELA 6982) covering an iron-rich skarn system with Au-Ag-Pb-Sb mineralization located in the Lachlan Orogenic Belt of southeastern New South Wales. Two parallel mineralized structures lie east and west of a sandstone ridge, with the historic Carrington mine developed on the eastern structure and the Iron Duke prospect on the western structure. The prospects are hosted by limestone members of the Jerrara Formation and are spatially associated with the regionally significant Yarralaw Fault.

Historic mining at Carrington exploited laterally extensive mineralized gossans up to 6 meters wide. Rock chip sampling of gossanous material has returned grades of up to 85 g/t Au, 6,037 g/t Ag, 24.8% Pb and 16.8% Sb (see Sentinel Resources Corp. news release dated October 13, 2020). Aeromagnetic data define a strong magnetic corridor that trends south from the Lockyersleigh Granite through the Carrington mine and along strike within limestone units of the Jerrara Formation, supporting the interpretation of an extensive iron-rich skarn system with more than 10 km of prospective strike length.

Furthermore, the NSW government "minview" website states that over 0.5 Mt of iron gossan is present. This is significant given silver-gold mineralization is commonly associated with gossans developed above primary sulphide mineralization. The tonnage cited suggests a robust system.

Stoney Creek (ELA 6983)

Stoney Creek is a 247 km² licence application (ELA 6983) situated in the Lachlan Orogenic Belt, covering a highly prospective corridor of Devonian volcanic rocks. The project hosts at least seven historic silver-gold mines and prospects, including the Stony Creek prospect and the Krawaree underground silver mine, which are classified as orogenic base-metal to low-sulphidation epithermal vein systems developed along the westerly dipping Gundillion Fault.

The Stony Creek prospect comprises an approximately 85-meter-wide alteration zone hosting quartz-sulphide vein stockworks. Historic rock-chip sampling has returned assays of up to 18.4 g/t Au and 212 g/t Ag, while historic drilling by Canyon Resources Pty Ltd in 1986 reported an intercept of 5 m grading 3.0 g/t Au.

Gundillions Reef, located approximately 1.4 km northwest of Stony Creek, is defined by a series of shafts, drives and small open pits that have been worked to depths of around 200 meters. Underground workings have been traced for over 2 kilometers and rock-chip grab samples have returned assays of up to 44 g/t Au and 150 g/t Ag, highlighting the potential for high-grade gold-silver shoots along the Gundillion Fault corridor (see Sentinel Resources Corp. news release dated October 13, 2020).

Dartmoor (ELA 6981)

Dartmoor is a 47 km² exploration licence application (ELA 6981) located at the western margin of the Hill End and Cooma zones in the eastern Lachlan Orogenic Belt. The tenure includes two historic polymetallic mines, Dartmoor and Dartmoor East, interpreted to be of VHMS-Kuroko affinity. Mineralization is expressed as an extensive gossanous horizon that can be traced for over 1.5 km along strike.

Small-scale historic production at Dartmoor reportedly averaged approximately 980 g/t Ag and 12% Cu, underscoring the high-grade nature of the system (see Sentinel Resources Corp. news release dated October 13, 2020). First Andes views Dartmoor as a compelling target for the discovery of massive Au-Ag-base-metal sulphide lenses to be explored using a combination of modern EM geophysics, geochemistry and drilling.

Terms of Transaction

The Company entered into an asset purchase agreement with South Star Pty Ltd. (the "Vendor") whereby the Vendor has agreed to sell all of its interest in the Silver Projects for AUD $15,500 and 1,500,000 common shares of the Company. The shares will be subject to restrictions on resale for a period of four months from the date of issue. The transaction is subject to acceptance of the TSX Venture Exchange.

Figure 1: Location map of Silver Projects.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10525/277392_8bf2616354bdbb40_002full.jpg

Qualified Person

Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Dr. Wilson serves as Chief Geologist of First Andes Silver Ltd. and is a shareholder of the Company.

About First Andes Silver Ltd.

First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 55 km east of Lima, Peru. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025.

For more information please contact:
Colin Smith, CEO & Director
Phone: 604 806-0626 (ext. 108)
E-mail: info@firstandes.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277392

FAQ

What did First Andes Silver (MSLVF) announce on December 9, 2025?

First Andes announced it will acquire three NSW silver exploration licence applications (Carrington, Stoney Creek, Dartmoor) totaling ~454 km2.

How much is First Andes paying for the NSW Silver Projects (MSLVF)?

The purchase consideration is AUD $15,500 plus 1,500,000 common shares, with resale restrictions for four months.

What are the key historic assay highlights for First Andes' NSW projects (MSLVF)?

Historic surface and production assays include up to 6,037 g/t Ag and 85 g/t Au at Carrington, 212 g/t Ag at Stoney Creek, and ~980 g/t Ag with 12% Cu at Dartmoor.

Will the First Andes (MSLVF) acquisition immediately create a resource?

No; the announcement reports historic surface and production samples but does not state any current NI 43-101 mineral resource estimate.

What are the next regulatory or approval steps for the First Andes (MSLVF) deal?

The transaction is subject to acceptance by the TSX Venture Exchange before closing.