Kingsmen Resources Ltd. (TSX-V: KNG) (OTCQB: KNGRF) (FSE: TUY) is pleased to report assay results from two additional diamond drill holes, LC-26-014 and LC-26-015, at the Company’s 100%-held Las Coloradas silver project in the Parral mining district of the Central Mexican Silver Belt, Chihuahua, Mexico. Drilling has now intersected the Mine zone mineralization across a minimum strike length of 106 meters, in three drill fences spaced 50 meters apart, to a vertical depth of 155 meters. The mineralization is open at depth and along strike, and includes a wide, high-grade zone intersected in LC-25-010.

Highlights:

1. LC-26-014 — an aggressive step-out drilled to a planned 100-metre undercut beneath LC-25-007, intersecting the mineralized system 90 metres down-dip of historic workings:
   • 1.40 meters @ 433 g/t Ag Eq (239 g/t Ag) from 190.0 – 191.4m (drilled core length; true width not yet determined)
     • Including 787 g/t Ag Eq (435 g/t Ag) over 0.75m (190.4 – 191.5m)
2. LC-26-015 — an aggressive step-out drilled to a planned 100-metre undercut beneath LC-25-006, intersecting the mineralized system 96 metres down-dip of historic workings:
   • 1.70 meters @ 185 g/t Ag Eq (139 g/t Ag) from 201.65 – 203.35m (drilled core length; true width not yet determined)
     • Including 438 g/t Ag Eq (336 g/t Ag) over 0.68m (202.17 – 202.85m)
3. Silver-gold mineralization now intersected over a minimum of 155m depth
4. Mineralization is open at depth and on strike

President, Scott Emerson, commented, “We are continuing to grow the project footprint, and we are seeing mineralization similar to what was historically mined, which gives us confidence we are in a mineral-rich system. The two-hole fence of LC-25-007 and LC-26-014 sits 50 meters north of the high-grade fence of LC-25-005, LC-25-010 and LC-26-013 (Figure 1). The two-hole fence of LC-25-006 and LC-26-015 flanks it to the southeast, giving us an outlined block of mineralization that remains open along strike and at depth. We have now reported results from only 3 of our current 19 holes drilled at Las Coloradas, and this area represents a small portion of the targets drilled across our 3-square-mile project, leaving continued discovery upside untouched. Figures 2 and 3 tell the real story here we’ve hit mineralization at both ends of these sections without ever drilling what’s in between. That untested ground is sitting right on the same structure as our best results, and if it delivers the way we think it can, this discovery has real room to grow. Holes LC-25-005 and LC-25-010 show the significant silver mineralization is increasing in width and is open at depth and on strike. As well, the high-grade silver intersection in LC-25-006, and the high-grade silver and gold intersections in LC-25-007, show untested potential along strike and at depth. These four holes confirm continuity of mineralization that is open along strike and at depth.”¹

The mineralization, which dips east at approximately 40°, is open along strike and at depth. The wide mineralization in LC-25-010 is in a structurally controlled dilatant zone which has allowed the development of a significant thickness of mineralization. This zone has not yet been drill tested along strike in drill fences LC-25-006/LC-26-015 and LC-25-007/LC-26-014.

LC-26-014 and LC-26-015 were drilled as aggressive step-outs, targeting a 100-metre undercut, to test whether the mineralized system extended beneath old workings intersected in LC-25-006 and LC-25-007 – see cavity locations on Figures 2 and 3. LC-26-014 and LC-26-015 intersected the mineralized system 90 meters and 96 meters respectively down dip of mined out mineralization (Figures 2 and 3; Table 3).

Broad-spaced exploratory drilling has outlined this zone of high-grade silver mineralization in the Mine zone, which represents an extension of mineralization historically mined by ASARCO between 1942 and 1952.

To date, there has been:

• no infill drilling in the wide areas internal to the zone
• no deep drilling
• no drill testing of the structurally controlled wide zone of mineralization in LC-25-010

Table 1 Collars

Table 2 Silver Intersections

Note: widths reported in this news release are drilled core lengths (from-to intervals); true widths of mineralization have not yet been determined.

The silver equivalent calculation formula is AgEq(g/t) = ((Ag grade (g/t) x (Ag price per ounce/31.10348) x Ag recovery) + (Pb grade (%) x (Pb price per tonne/100) x Pb recovery) + (Zn grade (%) x (Zn price per tonne/100) x Zn recovery) + (Au grade (g/t) x (Au price per ounce/31.10348) x Au recovery)) / (Ag price per ounce/31.10348 x Ag recovery). The prices used were US$3675/oz gold, US$2960/t zinc, US$2003/t lead and US$42/oz silver. Recoveries are estimated at 40% for gold, 91% for lead, 85% for zinc and 92% for silver based on published figures by Kootenay Silver Inc. for sulphide mineralization in the Cigarra deposit, Chihuahua, Mexico, a deposit with similar style mineralization

(https://kootenaysilver.com/news/kootenay/2024/kootenay-silver-announces-updated-mineral-resource-estimate-for-la-cigarra-project-chihuahua-mexico).

Table 3 Assays

Figure 1

Figure 2

Figure 3

QAQC

The drill core (HQ size) is currently being geologically logged and sampled. The full drill core is sawn with a diamond blade rock saw. One half of the sawn drill core is bagged and tagged for analysis. The remaining half portion is returned to the drill core tray and stored. Bagged samples are securely stored prior to submission for analysis. Samples are being submitted to ALS Geochemistry-Chihuahua for multielement analysis following four-acid digestion (code ME-MS61), and gold by fire assay-AA (code Au-AA23). Quality assurance and quality control (QA/QC) is maintained by the systematic insertion of certified standard reference materials (CSRM), blanks and duplicates into the sample stream. Assay results will be announced following receipt, compilation and confirmation. ALS Geochemistry operates under a Global Geochemistry Quality Manual that complies with ISO/IEC 17025:2017.

About Las Coloradas

The Las Coloradas Project (8.5 km² -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico.

Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30 kilometers southeast of the city of Hidalgo de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbara mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. Click here to see locator map: https://www.kingsmenresources.com/area-history

Qualified Person

Kieran Downes, Ph.D., P.Geo., a director of Kingsmen and Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.

About Kingsmen Resources

Kingsmen Resources is a mineral exploration company focused on advancing its 100% held projects, the Las Coloradas silver/gold project and Almoloya gold/silver project located in the prolific mining district of Parral Mexico. The projects host historic past producing high-grade silver mines. They are considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits. In addition, the company has a 1% NSR on the La Trini claims which form part of the Los Ricos North project operated by GoGold Resources Inc. in Mexico.