Sunshine Silver Mining & Refining Advances Operational Readiness at the Sunshine Mine
A commissioned production hoist and ongoing shaft upgrades support preparations for a planned late-2028 return to production.
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Rhea-AI Summary
Sunshine Silver Mining & Refining (SSMR) advanced underground development and infrastructure upgrades supporting the Sunshine Mine's planned production restart in late 2028. The feasibility study remains targeted for the second quarter of 2027, ahead of a future construction decision.
Development totaled approximately 1,200 meters in the first half of 2026; approximately 700 meters of the expected 1,300 second-half meters were complete by September 30. Infill drilling reached approximately 47,600 meters of a 50,000-meter program. A new Jewell Shaft production hoist was commissioned in May, and Silver Summit Shaft upgrades have begun, with work extending into early 2028.
Legacy mill demolition is expected to finish by year-end. The development plan assumes initial processing of up to approximately 1,000 tons per day, with facilities designed to accommodate potential increases to up to approximately 2,000 tons per day.
Positive
- Minor point. Forward-looking: it has not happened yet and may not happen.Production restart remains planned for late 2028, with operational-readiness activities expected to continue through 2027.
- Minor point. Forward-looking: it has not happened yet and may not happen.Feasibility study remains targeted for the second quarter of 2027.
- Minor pointUnderground development completed approximately 1,200 meters in the first half of 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.Second-half development is expected to reach approximately 1,300 meters; approximately 700 meters were completed by September 30, 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.Underground fleet expansion involves acquiring approximately 20 pieces of mobile equipment for development and exploration.
10 minor points
- Minor pointInfill drilling reached approximately 47,600 meters of the 50,000-meter program by September 30, 2026.
- Minor pointFirst-half infill drilling results reported in July 2026 included multiple assays exceeding 1,000 grams per tonne silver.
- Minor point. Forward-looking: it has not happened yet and may not happen.Downshaft drilling is largely complete; Sunshine expects additional results before year-end 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.Rail installation reached approximately 1,200 meters through September 30, 2026, with another approximately 1,900 meters anticipated by year-end.
- Minor point. Forward-looking: it has not happened yet and may not happen.Additional Sterling Ramp portal is expected in the first half of 2027 to increase ventilation capacity.
- Minor point. Forward-looking: it has not happened yet and may not happen.Silver Summit upgrades have begun; Sunshine plans hoistroom upgrades and a hoist re-drive through the remainder of 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.Broader Silver Summit improvements continue through 2027 into early 2028, with a second shaft-based access route expected upon completion.
- Minor pointJewell Shaft's new production hoist was installed and commissioned in May 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.Legacy mill demolition is expected to finish by year-end 2026, preparing the site for further development.
- Minor point. Forward-looking: it has not happened yet and may not happen.Processing plans assume up to approximately 1,000 tons per day, with design accommodating potential increases to up to approximately 2,000.
Negative
- None.
News Explained
The update adds a defined access outcome: Sunshine is developing a Sterling Ramp portal expected in the
Key Figures
- Feasibility study target
- Second quarter of 2027
- Sunshine Mine
- Planned return to production
- Late 2028
- Sunshine Mine
- Initial processing capacity
- Up to approximately 1,000 tons per day
- Current development plan
- Potential future throughput
- Up to approximately 2,000 tons per day
- Designed capacity
- Underground infill drilling completed
- Approximately 47,600 meters
- Of the 50,000-meter program, as of September 30, 2026
- Underground development completed
- Approximately 1,200 meters
- First half of 2026
- Additional underground development
- Approximately 1,300 meters
- Planned for second half of 2026; approximately 700 meters completed as of September 30
- Mobile underground equipment
- Approximately 20 pieces
- Acquisition for development and exploration use
Historical Context
-
September update said the 50,000-meter underground infill program remained on track for October completion.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
feasibility study technical
infill drilling technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Underground development, major infrastructure upgrades and site-preparation continue at the Sunshine Mine in support of its planned return to production in late 2028
Recent notable progress includes:
- Advancement of underground development, rehabilitation and drilling activities, supported by continued investment in new underground mining equipment;
- Initiation of the multiphase Silver Summit Hoist and Shaft upgrade project and completion of the new production hoist servicing the Jewell Shaft; and
- Development of an additional access portal within the Sterling Ramp system, which services the Upper Country of the mine.
In parallel with underground readiness activities, Sunshine continues to advance site preparation work through demolition of the legacy mill and related infrastructure. The work, which began in 2025, is expected to be completed by year-end and is intended to prepare the site for construction of a new processing facility contemplated in the Company's current development plan. The plan presently assumes initial processing of up to approximately 1,000 tons per day, however, along with associated infrastructure, it is being designed to accommodate potential future throughput increases up to approximately 2,000 tons per day — providing flexibility as the Sunshine Mine advances through feasibility and toward a construction decision.
"Our team is safely advancing the work needed to prepare the Sunshine Mine for both a future construction decision and planned return to production in late 2028," said Heather White, Chief Executive Officer of Sunshine. "The progress underway above and below ground is optimizing mine access, strengthening critical infrastructure, and preparing the site for future construction, long-term production requirements as well as growth opportunities. Our efforts are supporting the feasibility study and laying the foundation for the mine's next phase of development."
Dr. Thomas S. Kaplan, Chairman of Sunshine, shared: "The Sunshine Mine is an exceptional North American silver asset, distinguished by its combination of world-beating silver grade, large scale, excellent growth potential in terms of both resources and production, and remarkable history of proven production. Most encouragingly, the considerable progress reported today reflects sustained disciplined investment in infrastructure and access that should strengthen an already extraordinary asset. As we advance toward completion of the feasibility study, we continue to believe that Sunshine represents a truly unique opportunity to gain singular exposure to silver as well as critical minerals production and processing in
The Sunshine Mine benefits from an extensive network of existing and upgraded underground workings and multiple access points, including the Jewell Shaft, the Sterling Ramp and the Silver Summit Shaft. This infrastructure provides access to active development areas and supports the Company's ongoing drilling, feasibility and mine preparation activities (see Figure 1).
Underground Development, Drilling and Rehabilitation
Sunshine continues to advance underground development and rehabilitation activities that support drilling, engineering studies and future mining access. During the first half of 2026, the Company completed approximately 1,200 meters of underground development and expects to complete approximately 1,300 additional meters during the second half of the year, of which approximately 700 meters had been completed as of September 30, 2026 (see Figure 1). The remaining development planned for 2026 is expected to be completed by year-end.
To support the growing scope of underground activities, Sunshine is expanding its underground mining fleet through the acquisition of approximately 20 pieces of mobile equipment for underground development and exploration use. These additions provide increased capacity for development, rehabilitation, and drilling activities and are an important component of the Company's operational-readiness program.
Underground drilling continues as part of the Company's 50,000-meter infill drilling program. As of September 30, 2026, Sunshine had completed approximately 47,600 meters of underground infill drilling (see Figure 3). The program is intended to increase confidence in the mineral resource and provide key technical inputs for the Sunshine Mine feasibility study, which remains on track for completion in the second quarter of 2027.
In July 2026, the Company reported results from the first half of its 50,000-meter infill drilling program, which focused on the Upper Country of the Sunshine Mine and returned multiple assays exceeding 1,000 grams per tonne silver (see Sunshine Silver Mining & Refining Press Release, July 23, 2026). The second half of the program, focused on downshaft drilling, is now largely complete, and Sunshine expects to report the additional drill results before year-end.
As part of its underground rehabilitation program, Sunshine installed approximately 1,200 meters of new rail on the 3100 Level and in the ConSil-Silver Summit area through September 30, 2026, and anticipates installing an additional 1,900 meters by year-end. The new rail will improve underground logistics and support the safe and efficient movement of personnel, equipment and materials as development and drilling activities continue to advance (see Figure 4).
The Company is also developing an additional portal within the Sterling Ramp system. Expected to be completed during the first half of 2027, the portal will increase ventilation capacity and improve airflow as underground activities expand. The project is designed to support a safe underground working environment while enhancing the infrastructure needed for ongoing development, engineering and mine-planning programs.
Mine Shaft Access Upgrades
Sunshine recently initiated the Silver Summit Shaft Project, a multiphase upgrade of the Silver Summit Hoist, Shaft and related infrastructure. Through the remainder of 2026, the Company plans to continue upgrading the hoistroom and complete a hoist re-drive (see Figure 5), with broader shaft and infrastructure improvements continuing through 2027 and into early 2028.
Upon completion, the approximately 5,400-foot-deep Silver Summit Shaft is expected to provide a second shaft-based access and egress route. Together with the Jewell Shaft and Sterling Ramp, it will establish multiple points of underground access, increasing redundancy and operational flexibility in support of the mine's future development.
In May 2026, Sunshine completed a comprehensive installation and commissioning of a new primary production hoist servicing the Jewell Shaft. The approximately 4,000-foot-deep Jewell Shaft is the mine's primary access point and is currently active down to the 3100 Level. The new hoist modernizes a critical component of the mine's existing infrastructure and improves the reliability of personnel, equipment and material transport, as well as the hoisting of ore and waste (see Figure 6). The Jewell Shaft also supports ongoing underground development, rehabilitation, and drilling activities.
Legacy Mill Demolition and Site Preparation
Sunshine continues to advance surface site-preparation activities through demolition of the legacy mill and related infrastructure (see Figure 7). The work, which began in 2025, includes the removal of legacy equipment, structures and materials and is expected to be completed by year-end.
Completion of these activities represents an important operational-readiness milestone and will prepare the site for the next phase of project development.
Operational-readiness activities are expected to continue through 2027 in parallel with the completion of the Sunshine Mine feasibility study, which remains targeted for the second quarter of 2027. Ongoing work will focus on underground development, drilling, infrastructure modernization and surface site preparation activities designed to support a future construction decision and the Company's planned return to production in late 2028.
About Sunshine Silver Mining & Refining Company
Sunshine Silver Mining & Refining Company is advancing toward silver production from the Sunshine Mine in Idaho's Silver Valley, the most prolific silver district in U.S. history. The Sunshine Mine is North America's highest-grade primary silver resource. It is characterized by exceptional size, extraordinary growth potential, existing infrastructure, and a history of proven production. Sunshine, the largest holder of mineral rights in the Silver Valley, also controls a consolidated land position with significant exploration potential and is evaluating additional value opportunities through silver/copper refining and antimony production. For more information, visit www.sunshinesilvermining.com.
Cautionary Statements
This press release contains forward-looking statements, including statements regarding the Company's planned return to production in late 2028, the timing of completion of feasibility studies, the Sunshine Mine's growth potential, plans to design the mill and associated infrastructure to accommodate potential future throughput of up to approximately 2,000 tons per day, the anticipated progress of underground development and infill drilling in 2026 and 2027 and the timing and benefits of ongoing and future site preparation and operational readiness activities. In some cases, forward-looking statements can be identified by words such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "will," "could," "predict" and similar expressions or terminology. These statements are not historical facts but rather are based on the Company's current expectations and projections regarding its business, operations and other factors relating thereto and are subject to a number of known and unknown risks, uncertainties and other factors, including the risk factors set forth in our registration statement on Form S-1 filed with the Securities and Exchange Commission ("SEC") and other filings that we make from time to time with the SEC, that may cause the actual results, levels of activity, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking statements. Except to the extent required by law, the Company assumes no obligation to update any of these forward-looking statements or to conform these statements to actual results or revised expectations. We caution you not to place undue reliance on these forward-looking statements.
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SOURCE Sunshine Silver Mining & Refining
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does Sunshine Silver Mining & Refining plan to restart production at the Sunshine Mine?
Sunshine plans to return the Sunshine Mine to production in late 2028. Its feasibility study remains targeted for the second quarter of 2027, while readiness work supports a future construction decision.
How much of SSMR's Sunshine Mine infill drilling program is complete?
Approximately 47,600 meters of the 50,000-meter underground infill drilling program were completed as of September 30, 2026. The program is intended to increase confidence in the mineral resource and supply technical inputs for the feasibility study.