Mr. Mark Ayranto reports

SILVERCO FILES UPDATED MINERAL RESOURCE REPORT ON THE CUSI PROJECT

Silverco Mining Ltd. has filed an independent technical report, entitled "Mineral Resource Estimate for the Cusi Ag-Au-Pb-Zn Project, Chihuahua State, Mexico," dated Jan. 14, 2026, with an effective date of Oct. 20, 2025.

The technical report is available under the company's profile on SEDAR+ and on the company's website.

There are no material differences in the technical report from the disclosure in the company's news release dated Dec. 9, 2025. The report is dated Jan. 14, 2025, with an effective date of Oct. 20, 2025. The technical report was prepared by SGS Geological Services.

2025 Cusi mineral resource statement

Highlights of the Cusi project underground mineral resource estimate are as follows:

• Combined measured and indicated mineral resources are estimated at 4.89 million tonnes (t) grading 206 grams per tonne (g/t) silver, 0.15 g/t gold, 0.73 per cent lead and 0.86 per cent zinc (262 g/t silver equivalent (AgEq)). The mineral resource estimate includes measured mineral resources of 6.1 million ounces (oz) of silver, 1,800 oz of gold, 5.6 million pounds (lb) of lead and 6.3 million lb of zinc (6.7 million oz of AgEq), and indicated mineral resources of 26.3 million oz of silver, 22,200 oz of gold, 72.7 million lb of lead and 86.5 million lb of zinc (34.4 million oz of AgEq).
• Inferred mineral resources are estimated at 4.07 million t grading 172 g/t silver, 0.17 g/t gold, 0.89 per cent lead and 1.20 per cent zinc (243 g/t AgEq). The mineral resource estimate includes inferred mineral resources of 22.5 million oz of silver, 22,200 oz of gold, 79.5 million lb of lead and 107.5 million lb of zinc (31.7 million oz of AgEq).

Technical disclosure

The scientific and technical information contained in this news release has been reviewed and approved by Nico Harvey, PEng, vice-president, project development, of Silverco, a qualified person as defined in National Instrument 43-101. Mr. Harvey is not independent of the company. Mr. Harvey has reviewed the sampling, analytical and QA/QC (quality assurance/quality control) data underlying the technical information disclosed herein.

No production decision has been made at Cusi. Any decision to restart operations will follow completion of the requisite technical, financial and permitting milestones.

About Silverco Mining Ltd.

The company owns a 100-per-cent interest in the 11,665-hectare Cusi project, located in Chihuahua state, Mexico. It lies within the prolific Sierra Madre Occidental gold-silver belt. There is an existing 1,200-ton-per-day mill with tailings capacity at the Cusi property.

The Cusi property is a past-producing underground silver-lead-zinc-gold project approximately 135 kilometres west of Chihuahua City. The Cusi property boasts excellent infrastructure, including paved highway access and connection to the national power grid.

The Cusi property hosts multiple historical Ag-Au-Pb-Zn (silver-gold-lead-zinc) producing mines, each developed along multiple vein structures. The Cusi property hosts several significant exploration targets, including the extension of a newly identified downthrown mineralized geological block and additional potential through claim consolidation.

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