Minaurum Silver (TSXV: MGG) Builds Momentum at Alamos with Resource and Exploration Progress

Highlights

• SGS has been engaged to prepare an updated mineral resource estimate for the Alamos Project.
• Phase II drilling continues across multiple vein zones under a 50,000-metre expansion programme.
• Recent drilling extended high-grade mineralisation at Quintera and Europa Sur.
• The maiden resource outlined 55.2 Moz AgEq grading 320 g/t AgEq across the Alamos Project.
• A production permit, established infrastructure and long-term community agreements support project development.

Minaurum Silver Inc. (TSXV:MGG) (OTCQX: MMRGF | Frankfurt: 78M) continues to advance its 100%-owned Alamos Silver Project in Sonora, Mexico through resource expansion drilling, updated resource modelling and ongoing exploration. Backed by a maiden mineral resource, extensive infrastructure and a large-scale drilling programme, the company is working to expand the project's mineral inventory while evaluating additional high-priority vein systems across the district.

Resource Update Enters the Next Stage

Minaurum recently appointed SGS Metallurgy and Consulting Geological Services (SGS) to complete an updated mineral resource estimate for the Alamos Project.

The revised estimate will incorporate results from the company's ongoing drilling campaign, including data from the Europa, Promontorio and Travesia vein zones, together with newer discoveries at Promontorio Sur, Europa Sur, Quintera and San Jose. The updated resource is expected later in 2026.

The company's maiden mineral resource, announced in January 2026, outlined 5.37 million tonnes containing 55.2 million ounces of silver equivalent (AgEq) grading 320 g/t AgEq. The estimate was based on 104 drill holes covering nearly 35,900 metres and established the foundation for the next phase of resource growth.

Large-Scale Drilling Continues Across Multiple Veins

Resource expansion remains a central focus at Alamos.

Minaurum is progressing a 50,000-metre Phase II drilling programme using six drill rigs to test both known mineralised zones and newly identified targets. The campaign is targeting extensions of the Europa, Promontorio and Travesia vein systems while also evaluating Promontorio Sur, Europa Sur, Quintera and San Jose.

Recent drilling has continued to return high-grade silver-equivalent intercepts. At the Quintera Vein Zone, drilling intersected 5.95 metres grading 1,117 g/t AgEq, including 2.40 metres grading 2,557 g/t AgEq. Europa Sur also delivered multiple high-grade intersections, including 3.65 metres grading 888 g/t AgEq.

Earlier drilling at Europa Sur returned 3.20 metres grading 882 g/t AgEq, including a higher-grade interval of 2,423 g/t AgEq, together with another intercept of 6.20 metres grading 374 g/t AgEq.

District-Scale Opportunity Supports Long-Term Growth

Beyond the current resource, Minaurum continues evaluating the broader exploration potential across the Alamos property.

The company highlights that the project hosts 26 identified vein zones, while approximately 85% of the land package remains unexplored. The project also benefits from a 30-year Mining Impact Assessment (MIA) permit, existing access to power, water and roads, and 29-year extendable community agreements.

Metallurgical studies have also reported silver recoveries of up to 94.3% and gold recoveries of up to 96.5%, supporting ongoing project evaluation.

Whats Next?

Minaurum's near-term focus is expected to remain on completing its expanded drilling programme, incorporating new results into the updated mineral resource estimate and releasing additional assay results from the ongoing campaign. The updated resource, together with continued testing of emerging vein zones, is expected to provide further insight into the scale of the Alamos Silver Project as development activities progress.

Shares of MGG last traded at CAD 0.32, up around 9% on July 22, 2026.