OUTCROP SILVER EXTENDS HIGH-GRADE VEIN SYSTEM FOOTPRINT TO MORE THAN 500 METRES WITH STEP-OUT DRILLING ALONG STRIKE AT LA YE VEIN SYSTEM

OUTCROP SILVER EXTENDS HIGH-GRADE VEIN SYSTEM FOOTPRINT TO MORE THAN 500 METRES WITH STEP-OUT DRILLING ALONG STRIKE AT LA YE VEIN SYSTEM

VANCOUVER, BC, Feb. 12, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce recent high-grade results from La Lupe vein, part of La Ye vein system, at its 100%-owned Santa Ana high-grade silver project in Colombia. Step-out drilling has significally extended La Ye vein system footprint to over 500 metres along strike, with La Lupe vein – an integral part of the system – now confirmed for more than 200 metres along strike. This results reinforce the system's scalability and high-grade potential.

Drilling Highlights

• Hole DH433 intercepted 0.82 metres grading 686 grams per tonne of silver equivalent in the recently discovered La Lupe vein (Table 1).
• Multiple narrow splays from the La Lupe vein showing high-grade potential at depth up to 734 grams per tonne of silver equivalent in hole DH435 (Table 1).
• Drilling at La Ye target, focusing on La Lupe vein, has extended the entire vein system footprint for more than 500 metres along strike and confirmed the Lupe vein for more than 200 metres on strike (Figure 1).

"The discovery and extension of La Lupe vein within La Ye system is an exciting breakthrough for the Santa Ana project. With intercepts grading 1,233 grams per tonne silver equivalent, La Lupe vein not only confirms the high-grade potential of this system but also highlights the scalability of Santa Ana's vein systems," comments Guillermo Hernandez, Vice President of Exploration. "Extending the footprint of La Ye vein system to over 500 metres along strike is a testament to the project's capacity to deliver transformative results. We are thrilled with the progress and confident in the untapped potential that remains within this prolific district."

These results confirm that La Lupe vein, a newly discovered structure within La Ye vein system, is a significant contributor to the project's expanding resource potential. Step-out drilling has now extended La Ye vein system to over 500 metres along strike, with La Lupe vein itself confirmed to  over 200 metres along strike. Additionally, newly identified high-grade splays at depth further support the system's potential for additional mineralization (Figure 1). Outcrop Silver's systematic step-out drilling strategy at high-priority targets such as La Ye continues to deliver significant expansion of the Santa Ana project's mineralized footprint. These results highlight Santa Ana's potential for continued resource growth and reaffirm its position as a premier high-grade silver project.

Table 1. Drill hole assay results reported in this release.

Figure 1. Plan view of La Ye vein target showing the drill holes reported in this release (Table 1), previous drilling, and samples previously reported (Table 2). For details on previous drill holes, refer to news releases dated October 8, 2024, November 19, 2024 and January 06, 2025.

Recent drilling on La Lupe vein includes hole DH431, which intercepted 0.91 metres at 225 g/t AgEq, including a high-grade section of 0.31 metres at 2.58 g/t Au and 354 g/t Ag, and hole DH433, which returned 0.82 metres at 686 g/t AgEq, including 0.45 metres at 1,233 g/t AgEq (Table 1). These results confirm the presence of high-grade mineralization more than 150 metres from surface (Figure 2).

Figure 2. West to east geological cross-sections showing La Ye vein system.

Table 2. Channel and chip sample results in La Ye vein target from the target generation program previously reported and referred to in Figure 1 (see News Releases datedAugust 23, 2022, November 19, 2024, and January 6, 2025).

Table 3. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection.

¹Silver equivalent

Metal prices used for equivalent calculations were US$1,800/oz for gold, and US$25/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 97% for gold and 93% for silver (see news release dated August 23, 2023). The equivalency formula is as follows:

QA/QC

For exploration core drilling, Outcrop Silver applied its standard protocols for sampling and assay. HQ-NTW core is sawn with one-half shipped. Core samples were sent to either ALS, Actlabs or SGS in Medellin, Colombia, for preparation. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code 1E3. After preparation, the samples sent to ALS Colombia were shipped to ALS Lima for assaying using Au-ICP21, Au-GRA21, ME-MS41, Ag-GRA21, Ag-AA46, Pb-AA46, and Zn-AA46 methods. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at approximately three control samples every twenty samples into the sample stream, monitoring laboratory performance. A comparison of control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have been identified with respect to sample collection, security and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification.

Qualified Person

Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the company and is therefore independent for the purposes of NI 43-101.

About Santa Ana

The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through titles and applications, known as the largest and highest-grade primary silver district in Colombia with mining records dating back to 1585.

Santa Ana's maiden resource estimate, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 13.5 million ounces at a grade of 435 grams per tonne. The identified resources span seven major vein systems that include multiple parallel veins and ore shoots: Santa Ana (San Antonio, Roberto Tovar, San Juan shoots); La Porfia (La Ivana); El Dorado (El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.

The drilling campaign aims to extend known mineralization and test new high-potential areas along the permitted section of the project's extensive 30 kilometres of mineralized trend. This year's exploration strategy aims to demonstrate a clear pathway to substantially expand the resource. These efforts underscore the scalability of Santa Ana and its potential for substantial resource growth, positioning the project to develop into a high-grade, economically viable, and environmentally responsible silver mine.

About Outcrop Silver

Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.

At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry.

ON BEHALF OF THE BOARD OF DIRECTORS

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.

SOURCE Outcrop Silver & Gold Corporation