Mr. Mark Ayranto reports

SILVERCO PROVIDES LA NEGRA UPDATE: FIRST NEW UNDERGROUND EQUIPMENT ONSITE AND TAILINGS FILTRATION PROJECT ADVANCED

Silverco Mining Ltd. has provided an update on activities at its 100-per-cent-owned La Negra mine in Queretaro, Mexico. The first unit of the company's new Epiroc equipment fleet has arrived at site and is being commissioned underground. The company has also advanced its tailings filtration project, engaging M3 Engineering and Technology Corp. as construction manager and awarding a contract to begin civil works.

Mark Ayranto, chief executive officer of Silverco, commented:

"The arrival of our first Epiroc unit and the award of civil works on the filtration plant mark important milestones at our producing La Negra mine. These are the two key investments underpinning our plan to return the La Negra mill to its 2,500-tonne-per-day nameplate capacity by the end of H1 2027: a modern, reliable underground fleet to deliver the tonnes and filtered tailings to create operational flexibility for tailings placement. Along with these milestones, we continue to advance on operational improvements. Our underground operators are actively training at Epiroc's Zacatecas facility and Epiroc trainers and maintenance technicians are working alongside our team at La Negra, focusing on building the skills and processes to get full value from this fleet. We look forward to providing more updates on our progress at the project through the end of 2026, including our first exploration results from the La Negra surface and underground drill program."

La Negra highlights

First Epiroc unit arrives, commissioning under way

The first unit of the company's new Epiroc underground fleet, a development jumbo, has arrived at La Negra. Initial start-up testing and commissioning were completed on surface and the jumbo is now underground for further commissioning. The next unit, a Scooptram ST1030, is expected to arrive at site in the coming weeks, followed by two additional ST1030 loaders and an ST4 loader in December, 2026. The final unit, a Simba S70 production drill rig, is scheduled for delivery in Q1 (first quarter) 2027.

Operator and maintenance training under way

Earlier this month, the first group of La Negra equipment operators was sent to Epiroc's training facility in Zacatecas, Mexico, for simulator training. Under the company's agreement with Epiroc, Epiroc is also providing on-site trainers for each piece of equipment, and Epiroc maintenance technicians will be based at La Negra for six months to supervise and train the site maintenance team.

Construction manager appointed and civil works contract awarded for tailings filtration plant

Detailed engineering for the tailings thickening and filtration plant is approximately 90 per cent complete. M3, a well-established engineering and construction management firm with extensive experience in Mexico, has been engaged as construction manager and will oversee project execution, including contractor management, scheduling and cost control, through construction and commissioning. Filtered tailings placement is expected to remove the water management constraint on throughput and allow the mill to operate at its 2,500-tonne-per-day nameplate capacity. The company has awarded a contract for the project's civil works, with contractor mobilization expected shortly and work to begin in late November, 2026. The thickener and filter presses remain on schedule to arrive at site in Q1 2027, with construction and commissioning of this project expected to be completed by the end of H1 (first half) 2027.

Exploration drilling continuing

Exploration drilling continues at La Negra with two rigs operating from both surface and underground. A total of 4,123 metres have been completed to date of the planned 15,000-metre program. The company will add a second rig underground and expects to release initial assay results in Q4 (fourth quarter) 2026.

Engineer of record onboarding progressing

Knight Piesold Ltd. is currently onboarding as engineer of record for the La Negra tailings storage facility. The company has selected a drilling contractor to complete geotechnical characterization drilling, which will inform Knight Piesold's continuing work as engineer of record.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Nico Harvey, PEng, senior vice-president project development of Silverco, a qualified person as defined in National Instrument 43-101. Mr. Harvey is not independent of the company.

About Silverco Mining Ltd.

Silverco Mining is a Canadian silver producer focused on building a leading multiasset silver portfolio in Mexico. The company owns 100 per cent of the producing La Negra mine in Queretaro and the past-producing Cusi silver complex in Chihuahua, two established underground mining operations with significant infrastructure, exploration upside and district-scale land positions. The company is restarting Cusi in H2 (second half) 2026, positioning Silverco to become a significant primary silver producer in the Americas in the near term.

Led by an experienced management team with a proven record in mine development, operations and capital markets, Silverco is focused on creating long-term shareholder value through disciplined growth and responsible mining practices, with a goal of becoming a 10-million-ounce-per-year silver equivalent producer within three years. Silverco's common shares trade on the TSX Venture Exchange under the symbol SICO and on the OTCQB under the symbol SICOF.

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