Outcrop Silver & Gold Corporation (TSX-V: OCG) (OTCQX: OCGSF) (DE: MRG) is pleased to report additional high-grade assay results from step-out drilling at the Los Mangos vein within the Santa Ana high-grade silver project in Colombia. The results originate from the recently defined northern high-grade mineralized shoot, situated approximately 150 metres north of the historical El 20 mine workings and the original discovery zone (Figures 1 and 3). The Los Mangos vein remains open along strike and at depth (Figure 3).

The latest intercepts continue to demonstrate the strong continuity and grade of the Los Mangos vein system, particularly in its northern extension, where drilling has now reached the deepest elevations to date in this sector.

Highlights

• Hole DH476 intercepted 2.11 metres grading 445 g/t Ag and 2.14 g/t Au (606 g/t AgEq) and 1.88 metres grading 507 g/t Ag (Table 1 and Figure 2).

These results reinforce the emerging importance of the northern shoot at Los Mangos, where the vein system becomes structurally more complex and is hosted locally by granodioritic intrusions. The association between these intrusions and high-grade mineralization suggests a strong structural and lithological control on silver-gold deposition. Current drilling has now confirmed the continuity of the Los Mangos vein to depths of nearly 150 metres below the surface in this area, marking the deepest intercepts drilled at Los Mangos to date in terms of absolute elevation (Figure 3).

“The results from hole DH476, especially the multiple high-grade intercepts at depth, reinforce the continuity and strength of the Los Mangos vein system. The northern shoot is evolving into an exciting mineralized zone, and the increasing structural complexity, coupled with intrusive-related controls, is opening new geological opportunities for deeper and lateral expansion,” commented Guillermo Hernandez, Vice President of Exploration. “This continued success highlights the exploration upside at Santa Ana and supports our strategy of unlocking value through step-out drilling and advancing toward our next mineral resource update.”

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

Table 2. Surface chip and grab sample results in the Los Mangos vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (see News Releases dated August 23, 2022, April 26, 2023, March 12, 2025, and July 8, 2025). By their nature, grab samples are selective, and the assay results may not necessarily represent true underlying mineralization. Coordinates are UTM system, zone 18N and WGS84 projection.

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

Qualified Person

The technical information contained in this news release has been reviewed and approved by Mr. Guillermo Hernandez, CPG-AIPG, Vice-President Exploration at Outcrop Silver. Mr. Hernandez is a Qualified Person for the Company as defined by National Instrument 43-101.

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

Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged. Samples were bagged, tagged and packaged for shipment by truck from Santa Ana’s core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. 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 Canada in Ancaster, Ontario, for ICP-multi-elemental analysis with code 1E3. 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.

About Santa Ana

The 100% owned Santa Ana project spans over 28,000 hectares within the Mariquita District, encompassing both titles and applications, and is recognized 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 1,226 thousand tonnes containing 24.2 million ounces silver equivalent¹ at a grade of 614 grams per tonne and an inferred resource of 966 thousand tonnes containing 13.5 million ounces at a grade of 435 grams per tonne of silver equivalent¹. 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. The current exploration strategy seeks to establish a clear pathway for substantially expanding the mineral 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 identify and capitalize on opportunities that enhance shareholder value consistently. With a deep understanding of the Colombian mining landscape and a proven track record of successful exploration, Outcrop Silver is well-positioned to transform the Santa Ana project into a significant silver producer, making a positive contribution to the local economy and setting new standards in the mining industry.

Figure 1. The plan view of the Los Mangos vein target shows the drill holes reported in this release (Table 1), previously reported holes (Table 3), and surface exploration samples (Table 2). Coordinates are in the UTM system, zone 18N, and WGS84 projection. Hole DH474 intercepted 2.11 m of quartz vein and breccias with No Significant Results in the Los Mangos vein, while hole DH481 intercepted 1.33 m of quartz veining with No Significant Results. No Significant Result means an intercept lower than 200 g/t AgEq1. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 2. Geological cross-section showing the Los Mangos vein system. The section width is 100 metres. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 3. Longitudinal section from Los Mangos vein target showing the drilling pierce points and previously identified El 20 historic mine workings (see News Release dated April 1, 2025). The contours represent the interpolation of grade (AgEq g/t) multiplied by estimated true width (metres). Pierce points and channel samples are showing grade as AgEq g/t. Hole DH449 encountered a void and is assumed to represent old mining workings. (CNW Group/Outcrop Silver & Gold Corporation)