Metalsource Mining Intersects 267 g/t AgEq over 18.17m and 237 g/t AgEq over 15.33m, while Identifying Expansive Envelope of Gold, Silver and Base Metal Mineralization

Rhea-AI Summary

Metalsource Mining (OTCQB: MSMMF) reported initial assays from Silver Hill drilling, including 267 g/t AgEq over 18.17 m (SH25-01) and 237 g/t AgEq over 15.33 m (SH25-02).

Results reveal a broader, shallow envelope of silver-gold-base metal mineralization and high-grade gold shoots (up to 13.15 g/t Au over 1.74 m), with further drilling planned to test continuity and down-plunge extensions.

Positive

• Intercepted 267 g/t AgEq over 18.17 m in SH25-01
• Intercepted 237 g/t AgEq over 15.33 m in SH25-02
• High-grade gold intercept of 13.15 g/t Au over 1.74 m
• Mineralization is shallow (tested to ~150 m) enabling easier follow-up drilling
• Drill results reveal a previously unrecognized wider mineralized envelope near historic workings

Negative

• Results are preliminary and insufficient to define a mineral resource; further drilling required
• Reported widths are core length; true widths are currently unknown
• Some reported intervals are based on geological logging while analytical results remain pending

Vancouver, British Columbia--(Newsfile Corp. - March 11, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) is pleased to announce the first batch of assay results from ongoing exploration drilling at the Silver Hill Project, located approximately 15km south of Lexington, NC.

SH25-01 and SH25-02 both intersected a shallow, broad zone of both sulfide and oxidize mineralization This broad zone is wider than previous documentation of mineralization on the property and contains much stronger gold mineralization than anticipated or previously observed. Within this mineralized envelope multiple high-grade intervals have been identified by these drill holes.

Drill Hole  ID	From  (m)	To  (m)	Length  (m)	Ag (g/t)	Au (g/t)	Cu  (%)	Pb  (%)	Zn  (%)	AgEq (g/t)*
SH25-01	14.32	32.49	18.17	67.92	1.75	0.10	3.06	1.04	267
Including	24.69	32.49	7.80	66.12	3.22	0.14	3.58	0.87	383
Including	24.69	27.43	2.74	139.89	4.75	0.27	7.13	1.17	640
SH25-02	14.23	29.57	15.33	33.22	2.09	0.05	1.11	1.37	237
Including	24.66	29.57	4.91	61.47	5.71	0.14	2.70	3.76	613
Including	26.40	28.13	1.74	68.70	13.15	0.08	2.92	0.47	1,155

 

Table 1: Composite assay results from SH25-01 and SH25-02. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq below

These holes were drilled to test for mineral continuity from surface down to the 550 level of the historic Silver Hill Mine (Figure 1), representing approximately 150m from surface exploration. Ongoing exploration drilling will work to expand mineralization along strike and down plunge below the 1,000 level. The mineralization these two holes have intersected represent previously unrecognized mineralization, with historic work indicating only narrow mineralization and did not demonstrate gold grades of this tenor previously. The historic workings at the 550 level and previous mapping and modeling projected this mineralization as a much more narrow zone. There was no historical documentation recognizing a broader envelope, nor the high-grade within, that these 2 holes have intercepted.

Joe Cullen, CEO of Metalsource Mining, commented:

"We've known all along the Silver Hill Project was going to produce exciting results for our shareholders. It's great to see the geology and the mineralization proving our exploration thesis and demonstrating new mineralization, confirming that this part of the system, near the old workings, is shallow in nature. While we have long speculated that the gold content represented a significant under-valued potential for the property, we are very excited to now see the continuity and high-grade tenor, like the 1.74m of 13.20 g/t Au we are seeing in SH25-02. We're aggressively working behind the scenes to expand the mineral trend in all directions, and I'm keen to share these updates with our shareholders soon."

Figure 1: Cross section looking north showing the location of recently completed drilling at the Silver Hill Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/288069_5301ed87748b799a_002full.jpg

Drill Hole ID	Easting UTM17N (m)	Northing UTM17N (m)	Elev. (m)	Azimuth	Dip	Length (m)
SH25-01	572408	3951597	224	107	-63	109
SH25-02	572408	3951597	224	96	-85	101
SH25-03	572410	3951751	236	96	-46	305
SH25-04	572410	3951751	236	352	-89	100
SH26-05	572280	3951624	262	125	-73	199
SH26-06	572280	3951624	262	129	-51	154
SH26-07	572280	3951624	262	74	-89	200
SH26-08	572280	3951624	262	297	-77	231
SH26-09	572237	3951590	262	89	-70	15
SH26-10	572237	3951590	262	91	-76	188
SH26-11	572237	3951590	262	26	-83	196.6
SH26-12	572237	3951590	262	293	-84	243.84
SH26-13	572237	3951590	262	144.81	-81.5	213.36

 

Table 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project.

Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and duplicates within the sample stream. The drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.

The Company notes that visual identification of sulphide mineralization intervals do not indicate metal grades or economic significance. Core processing is ongoing with logging, sampling, and submission for laboratory analysis.

The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of the mineralization. At the time of this release, analytical results are still pending, the reported intervals are based on geological logging only.

Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. P_Au= $124.5/g, P_Ag= $1.58/g, P_Cu= $4.9/lbs, P_Pb=$0.90/lbs, P_Zn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per metric tonne for 1% metal.

To view an enhanced version of this graphic, please visit:
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Qualified Person
All scientific and technical information, has been reviewed and approved by Rory Kutluoglu, B.Sc., P.Geo., a "Qualified Person" as defined under NI 43-101 - Standards of Disclosure for Mineral Projects. Mr. Kutluoglu is an independent consultant of the company within the meaning of NI 43-101.

OTCQB Ticker Change

Further, the Company's ticker symbol on the OTCQB has changed from SFRIF to MSMMF.

Silver Hill Project

Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. This terrane has been suggested to be an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, there is an extensive drillhole database, underground mapping, historic dumps and underground chip samples which comprise the historic dataset. This mineralization is currently known to extend to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions. Bolstering these historic records, recent surface sampling contained results including SH25-003 containing 444g/t Ag, 17.7 g/t Au, 8.61% Pb and 0.507% Zn.

Byrd-Pilot Mountain Project

Located in central North Carolina, within the Carolina Terrane. Early USGS work in the 1980s flagged the area as possibly hosting a porphyry gold-copper system, subsequent work demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modeling indicates east-west trend to the identified mineralization, open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a Canadian mineral exploration company focused on advancing high-potential mineral assets through modern, systematic exploration and value-driven discovery.

For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: jcullen@metalsourcemining.com

Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR+ profile at www.sedarplus.ca. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) 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/288069

FAQ

What did Metalsource Mining (MSMMF) report for AgEq in the March 11, 2026 Silver Hill drill results?

The company reported 267 g/t AgEq over 18.17 m in SH25-01 and 237 g/t AgEq over 15.33 m. According to the company, these assays define a broader, shallow mineralized envelope with multiple high-grade internal intervals requiring follow-up drilling to confirm continuity.

How significant is the gold intercept in SH25-02 for MSMMF's Silver Hill project?

SH25-02 returned a 1.74 m intercept grading 13.15 g/t Au, a high-grade gold shoot within a broader envelope. According to the company, this gold tenor was unexpected historically and supports expanding drilling to test strike and plunge continuities beneath historic workings.

Are Metalsource Mining's (MSMMF) Silver Hill results sufficient to declare a mineral resource?

No, the results are preliminary and insufficient to define a mineral resource. According to the company, additional drilling, analytical confirmation, and geometry modeling are required to establish continuity, true widths, and a formal resource estimate.

What follow-up work did Metalsource Mining (MSMMF) say is planned after the Silver Hill assays?

The company plans to expand drilling along strike and down plunge and continue core processing and assays. According to the company, ongoing drilling aims to test continuity to deeper levels (below the 1,000 level) and build out the newly recognized mineralized envelope.

How were the Silver Hill samples analyzed and what QA/QC did Metalsource Mining (MSMMF) use?

Samples were sent to ALS with crushing, pulverizing, four-acid digest, ICP-AES/ICP-MS and fire assay, with standards, blanks and duplicates. According to the company, chain of custody and QA/QC protocols were maintained throughout core cutting and submission processes.