Vancouver, British Columbia--(Newsfile Corp. - October 1, 2026) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") announces that in September, National Drilling mobilized a reverse-circulation ("RC") rig to the Company's Candelaria Project in Nevada. Drilling is scheduled to begin immediately. Major Drilling America, will resume RC drilling during the second half of October, adding further capacity to the program. In addition, Evolve Drilling will mobilize a third rig, capable of both RC and core drilling in the second half of October. This expanded fleet provides increased flexibility across resource expansion, exploration, and condemnation drilling.

With three rigs turning, Silver One expects to accelerate its 25,000-metre program and is targeting completion in the first quarter of 2027.

Greg Crowe, President & CEO, commented, "The latest assays, including 472 grams per tonne silver over 9.14 metres, within a broader 25.91-m zone averaging 215 g/t Ag, 0.33 g/t Au, extended the mineralized system 400 metres down-dip from the previously known area of mineralization, as reported in the September 17, 2026 news release. This demonstrates the strength and scale of the Candelaria system, with the system remaining open both down-dip and along strike. What is most exciting is that these results exhibit remarkable continuity in grade and thickness. The strength and style of the recent intercepts strongly support our view that Candelaria's current resource has room to grow—and more importantly, that a longer-dated underground and milling opportunity may ultimately emerge beneath the near-surface open-pit and heap-leach story. With the addition of National's RC rig and Evolve's combined RC and core rig, we are significantly expanding our drilling capacity. Three rigs turning in the second half of October positions us to accelerate our 25,000 metre program and advance Candelaria's potential on multiple fronts."

Program Objectives

The 2026-2027 drilling campaign is designed to:

• Expand resources through step-outs and down-dip drilling

• Test select new targets identified in recent geophysical and geochemical work

• Complete condemnation holes to support future infrastructure planning

These objectives follow the program framework outlined in Silver One's news releases dated May 27, July 22, August 27, and September 17, 2026.

Recent Assay Results

Initial assay results reported on September 17, 2026 included 9.14 m averaging 472 g/t silver ("Ag"), 0.60 g/t gold ("Au"), 0.87% lead ("Pb"), 1.10% zinc ("Zn"), (540 g/t silver equivalent ("AgEq")) within a broader 25.91-m zone averaging 215 g/t Ag, 0.33 g/t Au, 0.43% Pb, and 0.55% Zn (250 g/t AgEq) with mineralization beginning at 542.55 m depth. True-widths are approximately 94% of drill intercepts. Silver equivalent amounts were calculated using the following recoveries and metal prices: Ag 77% $42/oz, Au 82% $3,170/oz, Pb 50% $0.9/lb, Zn 37% $1.2/lb. Copper excluded.

These results extended down-dip mineralization approximately 400 metres beyond the open-pit resource, reinforcing the potential for continued resource growth and deeper silver-rich polymetallic mineralization opportunities at Candelaria.

Advancing Candelaria

The mobilization of additional drilling capacity marks another important step in advancing Candelaria as a large, growing silver-dominant system with both near-surface and longer-term development potential. Silver One will provide further updates as drilling progresses and assay results are received.

In parallel with the exploration program, Silver One's primary development objective is the completion of a Pre-Feasibility Study ("PFS") by the end of 2026. The PFS is expected to serve as the next major milestone toward a construction decision targeted for late 2027. While the study is being based on Candelaria's already substantial resource base, the ongoing drilling program is designed to expand the future resource beyond that foundation. Condemnation drilling will also provide critical information for infrastructure placement, site layout optimization, and execution planning, helping to further de-risk future development activities.

Qualified Person

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.

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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316878