Advance Metals (ASX:AVM) ramps up drilling at Yoquivo silver-gold project in Mexico

Jane Morgan Management

18 December 2025 – Advance Metals Limited (ASX:AVM) is accelerating exploration at its 100%-owned, high-grade Yoquivo Silver-Gold Project in Chihuahua, Mexico, with a fully funded diamond drilling program progressing rapidly and multiple growth catalysts lined up into 2026.

Five diamond drill holes across three target areas have now been completed, with assay results pending. The program commenced in late November and is designed to test down-dip and along-strike extensions to existing mineralisation, as well as several new regional targets identified through recent exploration work.

Drilling at the Pertenencia area is targeting extensions below the current Foreign Estimate, which stands at 17.23Moz silver equivalent at a grade of 570g/t AgEq. Two deep holes have been completed at Pertenencia, including one hole testing mineralisation approximately 150 metres below previous intersections, highlighting the potential for future resource growth at depth.

Earlier drilling at Pertenencia has already confirmed the high-grade nature of the system, with recent results including:

• 4.42 metres at 446g/t AgEq

• 3.07 metres at 203g/t AgEq

• 4.87 metres at 544g/t AgEq

Further drilling has also been completed at the San Francisco Prospect and La Esperanza, with additional regional targets scheduled for testing in early 2026. These include newly identified vein structures southeast of the Dolar Vein system, where surface rock chip sampling has returned grades of up to 1,594g/t AgEq.

Alongside the new drilling, Advance Metals is nearing completion of an extensive program to relog and assay previously untested historic drill core from Yoquivo. More than 4,000 metres of diamond core have been sampled, with early results confirming strong silver and gold grades of up to 848g/t AgEq. In total, approximately 4,500 samples from drilling and historic core are currently pending assay results.

The company has also completed a high-resolution airborne LiDAR survey across the project area, with processed data expected shortly. Results from drilling, historic core resampling and LiDAR interpretation will feed into an updated geological model and a new JORC-compliant resource estimate, targeted for early 2026.

Advance Metals expects the majority of pending assay results to be returned from mid-January 2026, reflecting longer laboratory turnaround times due to elevated exploration activity across North America amid strong precious metal prices.

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]