Mr. Peter Latta reports

SILVER WOLF REPORTS CONTACT SKARN INTERCEPTS FROM THE ONGOING DRILL PROGRAM AT THE ANA MARIA PROPERTY

Silver Wolf Exploration Ltd. has provided an update on the continuing drilling program at the La Recompensa gold-zinc contact skarn target within the Ana Maria claims. Of particular significance, one drill hole (LRE26-05) intercepted 2.78 metres of garnet-magnetite-hematite skarn at the contact between limestone and the El Sarnoso intrusive rock.

The company has now completed five diamond core drill holes totalling 1,301 metres, reaching the halfway point of the planned program. Drilling is proceeding on schedule, and the team continues to make strong progress across the property.

At drill hole LRE26-05, which drilled at an azimuth of 310 degrees and a dip of minus 45 degrees, Silver Wolf intercepted 2.78 metres of garnet with magnetite and hematite at the contact between recrystallized Early Cretaceous Aurora limestone and the El Sarnoso granodiorite intrusion. Iron-oxide staining was observed at the contact zone and could indicates the presence of weathered sulphides and might increase the potential for gold mineralization.

The team reports multiple intercepts of magnetite and garnet-rich contact skarn with epidote, chlorite and hematite for drill holes completed so far.

Garnet-magnetite skarn veins and veinlets are encountered irregularly in the granodiorite intrusion, pointing to skarn mineralization and new gold-zinc skarn targets with the El Sarnoso intrusion.

"The contact skarn intercepted so far confirms our expectation of the gold-zinc target skarn extending along the boundary of the large circular El Sarnoso intrusion," said Peter Latta, president. "Our next steps are to build on gold-zinc results of 37 grams per tonne gold and 7.6 per cent zinc values discovered from channel sampling at the contact zone in January, 2022, and encounter further gold-bearing skarn zones."

As detailed in the quality assurance/quality control section below, samples from all five drill holes have been processed, split and submitted to a commercial laboratory (SGS) for analysis by gold fire assay and acid-digestion multielement packages; however, there are longer than normal turnaround times due to a backlog at the laboratory. Full assay results will be reported once processing has been completed.

Silver Wolf expects to complete the drill program this summer, with the full results to be released in Q3/Q4 2026.

Quality assurance/quality control

Silver Wolf follows industry-standard procedures for diamond core drilling and sample analysis. Silver Wolf employees process the HQ-diameter drill core and log, photograph and split the core by diamond rock saw. One-half of the core is then sampled and bagged for geochemical analysis and the other half of the core is safely stored in core boxes. Sample intervals are generally 0.5 metre to 1.5 metres, the samples are collected in sealed plastic bags with uniquely numbered tags and transported from site directly to SGS laboratory in Durango, Mexico. SGS carries out sample preparation and analysis. Pulps are four-acid digested and ICP-EOS analyzed for silver, zinc, lead, copper and 27 other elements using method code GE_ICP40Q12. Gold in samples is analyzed by fire assay using 30-gram splits with AAS finish (SGS method code GE_FAA30V5). SGS was instructed to apply appropriate overlimit methods for gold, silver, zinc, copper and lead. Any results above 10 parts per million gold are analyzed by fire assay with gravimetric finish using 30-gram splits (SGS method code GE_FAA30V). Any results above 100 parts per million silver are analyzed by fire assay and gravimetric finish using 30-gram splits (SGS method code GO_FAG37V) and zinc, copper and lead are analyzed using overlimit method GO_ICP90Q12. The quality of preparation and analyses at the laboratory is controlled and monitored by the Silver Wolf team by systematically inserting certified reference materials and blanks into the drill core sampling series.

Qualified person

Dr. Honza Catchpole, PGeo, an independent director of Silver Wolf Exploration, is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has approved the scientific and technical disclosure in this news release.

About Silver Wolf Exploration Ltd.

Silver Wolf is an exploration company focused on exploring high-potential projects in prime silver and gold regions of Mexico, including the Ana Maria and El Laberinto properties. The Ana Maria claims are located 21 kilometres northwest of the city of Gomez Palacio and the adjacent city of Torreon. The property consists of 2,549 hectares. The claims are located in a well-known area that is prolific for carbonate replacement deposits (CRDs) in the vicinity of many active or historic mining operations. The company has operational synergies with Avino Silver & Gold Mines Ltd. and shares many years of combined experience in exploration, development and production. In addition, Silver Wolf has an experienced geological field team that has worked on similar projects with a demonstrated understanding of the jurisdiction and local communities.

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