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Advance Metals defines 33Moz silver equivalent JORC Resource at Yoquivo, confirming large-scale development potential

Jane Morgan Management

Key Facts:

• Advance Metals announces maiden JORC resource of 33 million ounces silver equivalent at Yoquivo Project in Mexico, comprising 8.8 million tonnes at 120g/t AgEq
• Resource includes 23Moz silver and 140koz gold, with 92% increase compared to previous non-JORC estimates
• Mineralisation extends over 750m strike length and up to 250m width, remaining open along strike and at depth
• Discovery cost approximately US$0.10 per ounce, with total Mexican portfolio now at 116Moz AgEq
• Company planning next phase of drilling to expand resource and advance project development

Advance Metals Limited (ASX: AVM) has delivered a significant milestone at its Yoquivo Silver-Gold Project in Mexico, announcing a maiden JORC (2012) Mineral Resource Estimate (MRE) of 33 million ounces silver equivalent (AgEq), confirming the project as a large-scale, emerging silver-gold system.

The initial resource comprises 8.8 million tonnes at 120g/t AgEq, including 23Moz of silver and 140koz of gold, and highlights broad zones of shallow, contiguous mineralisation that support potential bulk mining scenarios.

Importantly, the resource marks the first JORC-compliant estimate for Yoquivo and demonstrates a substantial increase in scale compared to previous foreign estimates, with a ~92% uplift in contained silver equivalent ounces.

The majority of the resource is contained within the Pertenencia deposit, which hosts approximately 31Moz AgEq, with additional mineralisation defined at the Esperanza deposit.

Large-scale system with development optionality

The MRE confirms Yoquivo as a large-scale silver-gold system extending from surface, with strong geological continuity across multiple zones. Mineralisation extends over a strike length exceeding 750 metres and up to 250 metres in width in places, reinforcing the potential for both open pit and underground mining scenarios.

The estimate is supported by an extensive drilling database of 99 diamond holes totalling more than 26,000 metres, including recent drilling completed by Advance, as well as newly assayed historical core that has identified additional mineralised zones.

Notably, mineralisation remains open along strike and at depth, with multiple additional target areas identified across the broader project, providing clear pathways for further resource growth.

Low-cost discovery and growing Mexican portfolio

Advance has delivered the Yoquivo resource at an estimated discovery cost of approximately US$0.10 per ounce, underscoring the efficiency of its exploration strategy.

The addition of Yoquivo increases the Company’s total Mexican resource endowment to 116Moz AgEq across its portfolio of high-grade projects, positioning Advance as a growing silver-gold developer in a globally significant mining jurisdiction.

CEO commentary

Commenting on the result, Managing Director and CEO Dr Adam McKinnon said:

“This initial JORC Resource marks a significant milestone for Advance, delivered less than 18 months after acquiring Yoquivo and confirming the scale potential of this emerging largescale silver-gold system. Importantly, the resource highlights broad zones of shallow, contiguous mineralisation, supporting the potential for bulk mining scenarios that could underpin a lower cost development pathway.”

“With a discovery cost of ~US$0.10 per ounce, Yoquivo demonstrates the effectiveness of our exploration strategy and strengthens our growing Mexican portfolio, now totalling 116Moz AgEq. We are now focused on the next phase of drilling to drive further resource growth and advance Yoquivo toward development.”

Clear pathway to growth

Advance is now focused on advancing Yoquivo through the next phase of exploration and development, including:

• Resource extension and conversion drilling

• Refinement of geological and structural models

• Ongoing mapping and sampling to identify new targets

• Evaluation of mining and processing scenarios

• Advancing parallel exploration at the Gavilanes Project

With mineralisation open and multiple high-priority targets identified, the Company sees significant potential to further expand the resource base and progress Yoquivo toward development.

About us:

About Advance Metals (ASX: AVM) 

Advance Metals is a high-grade silver and gold exploration company with advanced projects in Mexico and Australia, executing a fully funded growth strategy to expand resources and deliver new discoveries.

In Mexico, the 100%-owned Yoquivo Project hosts a 17.23Moz AgEq Foreign Estimate at 570g/t AgEq and has recently returned exceptional high-grade drill results, including 14.1m at 320g/t AgEq and 1.5m at 2,663g/t AgEq. Ongoing drilling and extensive historic ore resampling highlight strong resource expansion potential. The Company has also secured 100% acquisition agreements over the district-scale Guadalupe y Calvo Project, hosting 816koz AuEq, and the Gavilanes Silver Project, with a 22.4Moz AgEq Foreign Estimate, both offering significant exploration upside.

In Australia, Advance holds an 80% interest in the Myrtleford and Beaufort Gold Projects in Victoria. Drilling at Happy Valley has confirmed high-grade gold extending over 500m vertically, with standout results including 3.7m at 16.6g/t Au and 0.8m at 62.3g/t Au, demonstrating strong scale potential. With multiple rigs operating and resource upgrades targeted, Advance is focused on rapidly expanding its high-grade silver and gold portfolio.

Contact details:

Jane Morgan
Investor & Media Relations Manager
Advance Metals Limited
+61 (0) 405 555 618
[email protected]