Silver One Commences Core Drilling for Geotechnical Pit Slope Study at Its Candelaria, Project Nevada

Rhea-AI Summary

Silver One (OTCQX: SLVRF) has begun a 1,900 metre HQ core drilling program to collect geotechnical data for a pit-slope stability study at the Candelaria silver project in Nevada.

The company engaged Call & Nicholas for a PFS-level slope stability study to support a conceptual open-pit design, targeting completion of a pre-feasibility study in Q4 2026. Reported Measured & Indicated resources for the open-pit portion total 22,070,000 tonnes at 94 g/t Ag (66.754 million oz Ag; 70.84 million oz AgEq).

Positive

• 1,900 m of HQ core drilling planned to provide geotechnical data
• Engagement of Call & Nicholas for a PFS-level pit-slope stability study
• Targeting a completed PFS in Q4 2026
• Measured & Indicated open-pit resource: 22,070,000 t at 94 g/t Ag (66.754M oz Ag)

Negative

• None.

News Market Reaction – SLVRF

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-0.55% News Effect

On the day this news was published, SLVRF declined 0.55%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce that has commenced a core drilling program that will provide essential geotechnical data for its Candelaria Silver Project in Nevada. In parallel, the company has engaged Call & Nicholas, Inc., a globally recognized geotechnical engineering firm, to conduct a pre-feasibility level ("PFS") pit-slope stability study in support of a conceptual PFS open-pit design. This work represents a major advancement toward the Company's planned PFS, scheduled for completion in Q4 2026.

The drilling program includes nine HQ-diameter (63.5 mm) core holes totaling approximately 1,900 metres, strategically positioned within and along the margins of the proposed open-pit footprint (See Figure 1). The resulting geotechnical data will guide slope design, optimize mine engineering, and support long-term operational safety and efficiency.

Candelaria stands out as one of the most compelling emerging silver projects in the United States. A former producing mine with a long history of successful operations, the project benefits from previous permitting, excellent infrastructure (including power and water), road access year-round, and significant potential for resource expansion along strike and at depth. These advantages position Candelaria as a rare combination of scale, simplicity, and growth opportunity in a Tier-1 jurisdiction.

The project currently hosts a substantial resource potentially suitable for open-pit development, including:

• Measured & Indicated ("M&I"): 22,070,000 tonnes grading 94 g/t Ag and 0.20 g/t Au, containing 66.754 million ounces of silver and 141,400 ounces of gold, or 70.84 million ounces AgEq

• Inferred: 2,960,000 tonnes grading 68 g/t Ag and 0.18 g/t Au, containing 6.462 million ounces of silver and 17,000 ounces of gold, or 7.00 million ounces AgEq

This open-pit resource constitutes only a portion of the overall property resources, which also include two heap leach pads hosting substantial amounts of silver and gold. The current global resource for the property amounts to 108.18 million ounces AgEq M&I plus 29.53 million ounces AgEq Inferred (See Table 1 and 2; Company news release dated May 6, 2025; and complete details in the NI 43-101 Technical Report "Mineral Resource Estimate on the Candelaria Property" dated April 30, 2025, filed on SEDAR+).

Gregory Crowe, President and CEO, commented: "Launching the geotechnical drilling program and commissioning Call & Nicholas for the PFS-level slope-stability study marks a major milestone in de-risking and advancing Candelaria. This work provides the engineering backbone for our open-pit design and is essential to delivering a robust pre-feasibility study. With its strong resource base, past-producing history, excellent infrastructure, and clear potential for expansion, Candelaria continues to demonstrate why it is one of the most exciting silver development projects in Nevada."

Figure 1. Planned geotechnical drill-hole location map (UTM NAD83 11S). Blue line shows the perimeter of the proposed pit design.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4730/285851_e18aa4234463c854_001full.jpg

Table 1. Candelaria in-ground, underground, and stockpiles mineral resource estimates. The mineral resource estimate has an Effective Date of April 30, 2025.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4730/285851_image1.jpg

Table 2. Candelaria Leach Pad mineral resources. The mineral resource has an Effective Date of August 6, 2020.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4730/285851_image2.jpg

Qualified Persons

The technical content of this news release, not related to the mineral resource, has been reviewed and approved by Robert M. Cann, P. Geo, a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the Company.

About Silver One

Silver One is focused on the exploration and development of quality silver projects. The Company holds 100% interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits.

The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along-strike.

Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver prospect that lies within the "Arizona Silver Belt," immediately adjacent to the prolific copper producing area of Globe, Arizona.

For more information, please contact:

Silver One Resources Inc.
Gary Lindsey - VP, Investor Relations
Phone: 604-974‐5274
Mobile: (720) 273-6224
Email: gary@strata-star.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. Silver One 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 Silver One's control. Such factors include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities 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, Silver One undertakes no obligation to publicly update or revise forward-looking information.

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 RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285851

FAQ

What drilling work did Silver One (SLVRF) start at Candelaria on March 2, 2026?

Silver One started a nine-hole HQ core program totaling ~1,900 metres to collect geotechnical data. According to the company, holes are placed within and along proposed pit margins to inform slope design and mine engineering for the open-pit footprint.

Who is conducting the pit-slope study for SLVRF and why does it matter?

Silver One engaged Call & Nicholas to perform a PFS-level slope stability study to support open-pit design. According to the company, this provides engineering input critical to pit slope design, safety, and a robust pre-feasibility study.

What resource figures did Silver One report for the Candelaria open-pit portion?

The open-pit Measured & Indicated resource is 22,070,000 tonnes at 94 g/t Ag, containing 66.754 million ounces silver. According to the company, this equates to about 70.84 million ounces AgEq for the open-pit portion.

When does Silver One expect to complete the pre-feasibility study (PFS) for Candelaria?

Silver One expects to complete the PFS in Q4 2026. According to the company, the current geotechnical drilling and slope-stability study are major steps toward delivering that scheduled PFS.

How does Silver One describe Candelaria’s advantages for development (SLVRF)?

Silver One highlights Candelaria as a former producing project with existing permitting, power and water, year-round road access, and resource expansion potential. According to the company, these factors support open-pit development and development efficiency.