Mr. Colin Smith reports

FIRST ANDES SILVER CLOSES ACQUISITION OF SILVER PROJECTS IN NEW SOUTH WALES, AUSTRALIA

First Andes Silver Ltd. has completed its acquisition of three silver-focused exploration projects known as the Carrington project, the Stony Creek project and the Dartmoor project, located in New South Wales, Australia.

In consideration of the silver projects, the company reimbursed the vendor for costs of $15,500 (Australian) and issued an aggregate of 1.5 million common shares of the company. The consideration shares are subject to a four-month hold period from the date of issuance.

The company is eager to advance exploration in two established mining jurisdictions. First Andes is preparing for a Q2 (second quarter) 2026 drill program at its flagship Santas Gloria project in Peru, targeting high-grade silver across multiple vein systems while integrating new targeting data from the continuing property-wide exploration program. In New South Wales, Australia, the company will focus on early-stage target generation and field validation of historic mineral occurrences across the newly acquired silver projects.

About the silver projects

Carrington (ELA 6982)

Carrington is a 160-square-kilometre exploration licence application covering an iron-rich skarn system with Au-Ag-Pb-Sb (gold-silver-lead-antimony) mineralization located in the Lachlan orogenic belt of southeastern New South Wales. Two parallel mineralized structures lie east and west of a sandstone ridge, with the historic Carrington mine developed on the eastern structure and the Iron Duke prospect on the western structure. The prospects are hosted by limestone members of the Jerrara formation and are spatially associated with the regionally significant Yarralaw fault.

Historical mining at Carrington exploited laterally extensive mineralized gossans up to six metres wide. Rock chip sampling of gossanous material has returned grades of up to 85 grams per tonne (g/t) Au, 6,037 g/t Ag, 24.8 per cent Pb and 16.8 per cent Sb (see Sentinel Resources Corp. news release dated Oct. 13, 2020). Aeromagnetic data define a strong magnetic corridor that trends south from the Lockyersleigh granite through the Carrington mine and along strike within limestone units of the Jerrara formation, supporting the interpretation of an extensive iron-rich skarn system with more than 10 kilometers of prospective strike length.

Furthermore, the NSW government minview website states that over 500,000 tonnes of iron gossan is present. This is significant given silver-gold mineralization is commonly associated with gossans developed above primary sulphide mineralization. The tonnage cited suggests a robust system.

Stony Creek (ELA 6983)

Stony Creek is a 247-square-kilometre exploration licence application situated in the Lachlan orogenic belt, covering a highly prospective corridor of Devonian volcanic rocks. The project hosts at least seven historical silver-gold mines and prospects, including the Stony Creek prospect and the Krawaree underground silver mine, which are interpreted as orogenic base metal to low-sulphidation epithermal vein systems developed along the west-dipping Gundillion fault.

The Stony Creek prospect comprises an approximately 85-metre-wide alteration zone hosting quartz-sulphide vein stockworks. Historical rock chip sampling has returned assays of up to 18.4 g/t Au and 212 g/t Ag, while historical drilling by Canyon Resources Pty. Ltd. in 1986 reported an intercept of five metres grading 3.0 g/t Au.

Gundillions Reef, located approximately 1.4 kilometres northwest of Stony Creek, is defined by a series of shafts, drives and small open pits that have been worked to depths of around 200 metres. Underground workings have been traced for over two kilometres and rock chip grab samples have returned assays of up to 44 g/t Au and 150 g/t Ag, highlighting the potential for high-grade gold-silver shoots along the Gundillion fault corridor (see Sentinel Resources news release dated Oct. 13, 2020).

Dartmoor (ELA 6981)

Dartmoor is a 47-square-kilometre exploration licence application located at the western margin of the Hill End and Cooma zones in the eastern Lachlan orogenic belt. The tenure includes two historical polymetallic mines, Dartmoor and Dartmoor East, interpreted to be of VHMS-Kuroko affinity. Mineralization is expressed as an extensive gossanous horizon that can be traced for over 1.5 kilometres along strike.

Small-scale historic production at Dartmoor reportedly averaged approximately 980 g/t Ag and 12 per cent Cu, underscoring the high-grade nature of the system (see Sentinel Resources news release dated Oct. 13, 2020). First Andes views Dartmoor as a compelling target for the discovery of massive gold-silver-base-metal sulphide lenses to be explored using a combination of modern EM (electromagnetic) geophysics, geochemistry and drilling.

Qualified person

Colin Smith, PGeo, a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Smith serves as chief executive officer and director of First Andes Silver Ltd., and owns securities of the company.

Historical information

The company has not verified the historical sampling, drilling or production information referenced herein, and is not relying on such information as a current statement of mineralization.

About First Andes Silver Ltd.

First Andes Silver 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 55 kilometres east of Lima, Peru. Santas Gloria has excellent established road access, is situated within a well-known intermediate-sulphidation epithermal belt, and hosts over 12 kilometres of multiphase veins mapped at surface that had never been historically drilled or explored by modern techniques prior to 2024. In only two phases of diamond drilling (2024 to 2025), First Andes has reported strong near-surface epithermal silver intercepts in 21 of 26 drill holes, confirming silver mineralization across multiple vein systems and supporting systematic, project-wide exploration and follow-up drilling in 2026.

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