Mr. Steven Sirbovan reports

ICG SILVER & GOLD SECURES ~2,000-ACRE EXPANSION AT THE TUSCARORA DISTRICT AND IDENTIFIES LARGE SCALE STRUCTURAL SOURCE

ICG Silver & Gold Ltd. has expanded the Tuscarora district located in Elko county, Nevada, through the payment and staking of 104 additional unpatented mining claims on the western flank of the property. The acquired claims cover approximately 2,000 acres of highly prospective ground and represent a strategic step toward consolidating the broader Tuscarora district. Given the growth in exploration and development activity in northern Nevada, as evidenced by First Majestic Silver Corp.'s planned restart of the Jerritt Canyon mine, which sits only 16 kilometres away from the Tuscarora district, ICG has made it a top priority to consolidate key claims.

"The newly acquired claims reinforce the district-scale nature of the Tuscarora district, and highlight the prospectivity of the Beard Hill and Dacite targets," said Steven Sirbovan, president, chief executive officer and director of ICG Silver & Gold. "The addition of Carlin-style host rock on the western flank is a great complement to the layer cake of epithermal systems we are seeing on the central and eastern portions of our project."

This land expansion builds upon the company's recently completed controlled-source audio magnetotelluric (CSAMT) geophysical survey (see April 9, 2026, news release). Results from the survey, when integrated with historical geologic mapping and regional data sets, highlighted compelling structural and lithological targets extending onto the newly staked ground.

Highlights

• 104 new claims staked, adding approximately 2,000 acres to the Tuscarora district;
• Expansion captures the western extension of key structural corridors;
• Ground selection driven by CSAMT results and geological interpretation;
• Supports ICG's strategy to consolidate and control a district-scale land position.

Geological upside -- multiple mineralizing systems

The Tuscarora district is located between the greater Carlin trend and the Independence trend, two Carlin-type gold belts in northern Nevada. The Carlin trend is one of the world's most prolific gold districts, with production and resources exceeding 100 million ounces of gold. The Independence trend hosts multiple gold systems, including the Jerritt Canyon district, which has produced approximately 9.85 million ounces of gold. This favourable regional setting highlights the district's proximity to large, well-endowed mineral systems and underscores its potential to host significant gold mineralization. The recently expanded land position is interpreted to encompass a highly prospective geological setting where two distinct, but potentially related mineralizing systems may be present:

• Established low-sulphidation epithermal silver-gold and gold-silver systems within the Tuscarora district;
• Proximal to favourable sedimentary lithologies associated with Carlin-style, sediment-hosted gold systems.

Importantly, both geological environments are interpreted to be of similar Eocene age (approximately 39.97 million to 39.3 million years old), suggesting the potential for shared or, more likely, overlapped mineralizing episodes.

This geological setting creates a compelling exploration scenario in which structural controls, fluid pathways and lithologic contrasts may have focused mineralization of multiple styles into a district-scale target.

Dacite and Beard Hill targets -- emerging feeder system

Recent integration of CSAMT data, historical mapping and geological interpretation has significantly advanced the company's understanding of the Dacite and Beard Hill targets. These targets, previously interpreted as near-surface expressions of mineralization, are now understood to be linked to a deeper, structurally controlled source. Interpretation of the data set indicates that mineralization at both Dacite and Beard Hill is likely sourced from the McCann Creek structural zone, which is interpreted to represent a fluid conduit and feeder structure within the district.

This evolving model suggests that the Dacite and Beard Hill targets are not isolated or rafted fragments of a mineralized system, but rather represent the upper expressions of a coherent mineralizing system rooted at depth. The identification of this feeder relationship materially enhances the exploration potential of the project by:

• Demonstrating a clear genetic link between surface mineralization and a deeper source;
• Highlighting the McCann Creek structural zone as a priority target for future drill testing;
• Supporting the potential for increased scale both laterally and at depth;
• Providing a vector toward higher-grade or more continuous mineralization along structural pathways.

This interpretation reinforces the company's district-scale thesis for Tuscarora and provides a compelling framework for targeting deeper mineralization beneath known surface showings.

By securing this ground, ICG has expanded its control over the broader mineral system and is now positioned to evaluate the project as a district-scale opportunity with multiple target types and exploration vectors.

Next steps

The company is advancing toward a comprehensive exploration program that will incorporate:

• 3-D inversion modelling of all the CSAMT data sets;
• Integration of historical drilling and mapping into a 3-D geological model;
• Refinement of high-priority drill targets across the expanded land package;
• Continued evaluation of additional consolidation opportunities.

Live webinar

The company is hosting a live webinar, today, to provide an overview of the company and the Tuscarora district, outline ICG's current focus and growth strategy and discuss recent developments and what they could mean for potential value creation.

Date:  Thursday, April 16, 2026

Time:  4:30 p.m. ET/1:30 p.m. PT

Corporate update

The company also announces that it has granted an aggregate of 350,000 stock options to certain consultants of the company. The options are exercisable 51 cents per common share for a period of five years from the date of grant. The options will vest as to one-third at six months from the date of grant, one-third at nine months from the date of grant and the remaining one-third at 12 months from the date of grant, in accordance with the company's stock option plan and the policies of the Canadian Securities Exchange (the CSE).

In addition, the company has issued an aggregate of 3.4 million restricted share units (the RSUs) to certain directors and officers of the company pursuant to its equity incentive plan. The RSUs will vest as follows: one-third on the first anniversary of the date of grant, one-third on the second anniversary of the date of grant and the remaining one-third on the third anniversary of the date of grant, subject to the terms of the company's equity incentive plan and applicable award agreements.

All securities issued pursuant to the options and RSUs are subject to applicable hold periods in accordance with Canadian securities laws and the policies of the CSE.

Disclosure on sampling data

Figures shown include historical data and data collected by the company. Historical sampling programs were conducted by various operators and may not meet current QA/QC (quality assurance/quality control) standards as defined under National Instrument 43-101. The company has not verified all historical sampling data and such information should be considered indicative only. Any future work conducted by the company will incorporate industry-standard QA/QC protocols.

QP statement

The scientific and technical information contained in this news release has been reviewed and approved by Steven L. McMillin, PG, of Rangefront Mining Services, a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and independent consultant to the company.

About ICG Silver & Gold Ltd.

ICG Silver & Gold is a new mineral exploration and development company advancing the Tuscarora district in northern Nevada. The company's strategy is centred on:

• Advancing the Tuscarora district through systematic exploration and technical studies;
• Building a district-scale geological model;
• Progressing the project toward resource definition and future development.

The Tuscarora district is a silver-gold epithermal system located on the Carlin trend, approximately one hour northwest of Elko, Nev. ICG controls 100 per cent of the approximately 10,000-acre land package, which has extensive rock chip sampling, thousands of metres of reverse circulation and core drilling, and tens of kilometres of CSAMT geophysics completed on the property. ICG fundamentally believes in the long-term value of precious metals exploration, especially silver and gold, and is led by a technical and management team with extensive experience in exploration, permitting, capital markets and development of mining projects in the Western United States, including Nevada.

We seek Safe Harbor.