Mr. Colin Smith reports

FIRST ANDES SILVER REPORTS HIGH-GRADE SILVER ASSAYS, SANTAS GLORIA PROJECT, PERU

First Andes Silver Ltd. has received high-grade silver assay results from its 2,000-metre (m) drill program at the company's 100-per-cent-owned Santas Gloria project, located approximately 55 kilometres (km) east of Lima, Peru.

Key point summary:

• One of the objectives of this program was to test for San Jorge vein sulphide zones at depth, beneath the oxide zones encountered in the 2024 campaign. Downdip drilling continued to intercept strongly oxidized mineralization, indicating deep groundwater penetration, alteration and leaching of galena, sphalerite and associated silver, and strongly suggesting that a fully intact sulphide-rich system remains preserved and open at depth, representing a compelling target for follow-up drilling.
• Vein textures, mineralogy and alteration confirm that drill holes intercepted the uppermost parts of an intermediate sulphidation epithermal system, substantiating the extensive depth potential and warranting the permitting of additional drill pads.
• First Andes has commenced permitting of additional drill pads in strategic locations along San Jorge, as well as untested vein systems property wide (Kelly vein: 1.2 km strike length with 56.3 grams per tonne (g/t) gold (Au), 28.2 g/t Au, 21.1 g/t, Au 18.2 g/t Au and 14.6 g/t Au in surface channel samples, undrilled).
• Assays have been received in full for 2025 drill holes SG016 to SG022; results for drill holes SG023-SG029 remain pending.
• Drill hole SG017 at San Jorge reported:
  • 190.5 g/t silver equivalent (AgEq) (164.8 g/t silver (Ag), 0.20 g/t Au, 0.17 per cent lead (Pb) and 0.23 per cent zinc (Zn)) over 6.20 m from 174.70 m (downhole), including 578.6 g/t AgEq (533.8 g/t Ag, 0.32 g/t Au, 0.24 per cent Pb and 0.57 per cent Zn) over 0.60 m from 176.80 m.
• Drill hole SG022 reported:
  • 268.2 g/t AgEq (248.5 g/t Ag, 0.12 g/t Au, 0.32 per cent Pb and 0.14 per cent Zn) over 3.90 m from 91.90 m, including 638.1 g/t AgEq (606.2 g/t Ag, 0.18 g/t Au, 0.68 per cent Pb and 0.12 per cent Zn) over 0.70 m from 95.10 m.
• Drill hole SG019 reported:
  • 350.4 g/t AgEq (332.1 g/t Ag, 0.11 g/t Au, 0.10 per cent Pb and 0.68 per cent Zn) over 1.10 m from 109.80 m, including 443.2 g/t AgEq (392.4 g/t Ag, 0.13 g/t Au, 0.23 per cent Pb and 1.50 per cent Zn) over 0.50 m from 110.40 m.
• Drill holes SG016, SG018 and SG019 intercepted historical mining voids at the onset of the mineralized zones.
• The drill program has been completed, totalling 2025 m drilled in 14 holes.

"Results from our 2025 drill program confirm we are testing the upper levels of a large, mineralized intermediate sulphidation system at San Jorge," stated Colin Smith, chief executive officer and director of First Andes Silver. "Strong silver grades, vein textures, extensive oxidation and leaching of base metal sulphides all point to a fully intact sulphide-rich system preserved at depth and open in all directions. With assays pending and new drill pads being permitted at San Jorge and across additional untested veins, the opportunity for significant discovery remains compelling."

Quality assurance/quality control (QA/QC)

The company follows industry-recognized standards of best practice and QA/QC. HQ-diameter core samples are sawed into equal halves and selected one-half core samples are submitted to AHK Group in Lima, Peru, a market-leading provider of inspection and analysis services that maintains rigorous quality standards through compliance with industry standards and regulations, including ISO/IEC 17025 and ISO 9001. Core samples are sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody, for fire assay and ICP (inductively coupled plasma) analysis. To date, all batches have passed QA/QC within acceptable tolerance limits. All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90 per cent.

Qualified person

Dr. Christopher Wilson, PhD, FAusIMM (CP), FSEG, FGS, a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Dr. Wilson is not independent and serves as chief geologist of First Andes Silver and owns securities of the company.

About First Andes Silver Ltd.

First Andes is a British Columbia company that holds a 100-per-cent interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has excellent established road access and is situated within an intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface that had never been historically drilled or explored by modern techniques before 2024. First Andes's maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high-priority follow-up drilling in 2025.

We seek Safe Harbor.