Advance Metals (ASX:AVM) Diamond Drilling Recommences at the Yoquivo Silver-Gold Project in Mexico

Jane Morgan Management

21 November 2025 – Advance Metals Limited (ASX:AVM) has today announced the recommencement of diamond drilling at its high-grade, 100%-owned Yoquivo Silver-Gold Project, located in the heart of Mexico’s highly prospective Chihuahua region.

This fully funded, high-impact drilling program marks a significant step forward in the Company’s broader Mexican silver-gold growth strategy as it targets both extensions to existing mineralised zones and multiple newly identified regional opportunities.

Key Highlights

• A fully funded diamond drilling program of at least 3,000 metres has commenced at Yoquivo.
  
  

• Initial drilling will test lateral and depth extensions to the existing Foreign Estimate at Pertenencia, currently comprising 17.23Moz AgEq at 570g/t AgEq.
  
  

• The program will also drill multiple high-priority regional targets, including newly discovered veining that previously returned rock chips grading up to 1,594g/t AgEq.
  
  

• Extensive resampling of historic core is underway, with assays up to 848g/t AgEq already confirmed.
  
  

• Drilling and assay results will feed into an updated geological model and JORC Resource upgrade, targeted for early 2026.
  
  

Progress Following Earlier High-Grade Results

A successful drilling campaign completed earlier in the year intersected multiple zones of high-grade silver-gold mineralisation at Pertenencia, confirming the potential for significant resource expansion. Intercepts included:

• 4.42m @ 446g/t AgEq, incl. 1.67m @ 676g/t AgEq (YQ-25-001)
  
  

• 16.37m @ 104g/t AgEq, incl. 3.07m @ 203g/t AgEq (YQ-25-002)
  
  

• 4.87m @ 544g/t AgEq, incl. 1.11m @ 2,063g/t AgEq (YQ-25-007)
  
  

These zones form the initial focus for the new drilling phase, which will target down-dip extensions below these high-grade intersections.

Testing New Regional Targets

Beyond the Pertenencia vein system, several high-priority regional targets west of the area will also be drilled. Newly identified high-grade structures near the Dolar Vein system have returned peak rock chip grades of 1,594g/t AgEq, representing compelling new exploration opportunities.

Ongoing Resampling of Historic Core

Advance Metals is also relogging and assaying several thousand metres of previously untested core. Early results confirm strong silver-gold upside potential and will integrate into the Company’s upcoming JORC Resource upgrade.

For Further Information

Dr Adam McKinnon
Managing Director & CEO
Advance Metals Limited
+61 (0) 411 028 958
[email protected]
www.advancemetals.com.au

About Advance Metals Limited (ASX:AVM)

Advance Metals Limited (ASX:AVM) is a silver and gold exploration and development company with high quality assets in North America and Australia.

In October 2024 the Company announced the acquisition of a 100% interest in the high grade Yoquivo Silver-Gold Project in Chihuahua, Mexico. The project sits in the prolific Sierra Madre Occidental Belt and boasts an existing NI43-101 Foreign Estimate of 17.23Moz silver-equivalent (AgEq) at a grade of 570g/t AgEq, with immediate upside potential. AVM conducted its maiden exploration program at Yoquivo in May 2025, comprising 3,100 metres of diamond drilling in the high grade Pertenencia area.

Advance also entered into an agreement in January 2025 to purchase the Gavilanes Silver Project in Durango from Sailfish Royalty Corp (TSX-V:FISH & OTCQX:SROYF). The project lies 23km northeast of First Majestic Silver Corp’s San Dimas Mine (134Moz Ag) and has an existing NI43-101 Foreign Estimate of 22.4Moz AgEq at 246g/t AgEq. Only a small percentage of the known mineralisation is currently drilled, with Advance expecting to kick-off exploration at the site shortly.

In July 2025, AVM announced its most significant acquisition to date, entering into an agreement to acquire a 100% interest in the Guadalupe y Calvo Gold-Silver Project (GyC) from Endeavour Silver Corp. Golkd and silver mining has occurred at GyC since 1835 with at least 2Moz Au and 30Moz Ag produced from the site. The project hosts current NI43101 Indicated and Inferred Resources of 816koz AuEq or 60.6Moz AgEq, with significant potential upside identified by Advance’s technical team.

In early 2025 the Company entered into an agreement with Serra Energy Metals (CSE:SEEM & OTCQB:ESVNF) to acquire an 80% joint venture interest in the high grade Myrtleford and Beaufort Gold Projects in Victoria, Australia. Advance’s maiden drilling program at the Myrtleford Project has produced exceptional grades at the Happy Valley Prospect, including 7.5 metres at 47.9g/t Au in AMD003 and 8.2 metres at 22.4g/t Au in AMD001, with follow up drilling along strike and down dip planned in the near future.

Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]