Outcrop Silver & Gold Reports Exceptional High-Grade Silver and Gold at Morena Vein, Santa Ana Project

Outcrop Silver & Gold has announced a significant new high-grade discovery at the Morena vein within the Santa Ana project in Colombia. The most notable drill intercept returned 1,877 grams per tonne (g/t) silver and 4.26 g/t gold over 0.55 metres (1.8 feet), which equates to 2,197 g/t silver equivalent. This latest result represents the sixth high-grade discovery at Santa Ana since April 2024 and reinforces the prospectivity of the project.

Key Drill Result and Mineral Equivalent

The standout intercept—1,877 g/t silver and 4.26 g/t gold across 0.55 metres—translates to 2,197 g/t silver equivalent using the company’s reported conversion. This single high-grade intercept highlights the presence of exceptionally rich mineralization within a narrow, high-value zone of the Morena vein. Such grades, even over a short width, can be highly influential in the overall economics of a deposit, particularly when they occur within broader mineralized systems that can be drilled and potentially mined efficiently.

Extent of the Morena Vein and Ongoing Drilling

Outcrop reports the Morena vein has been traced for approximately 400 metres along strike and extend about 300 metres down dip. To date, drilling at the vein has totaled 2,905 metres, contributing to a growing body of data on the vein’s geometry, continuity and grade distribution. These drilling metres have helped define multiple discrete high-grade zones and provided enough information to support further evaluation of the vein’s potential.

Context Within the Santa Ana Project

Santa Ana already hosts an established resource of 24.2 million ounces silver equivalent. The discovery at Morena adds to this inventory and may influence an upcoming resource update. By expanding the number of recognized high-grade shoots within the property, the recent discoveries strengthen the project’s overall resource potential and provide additional targets for follow-up drilling and technical studies.

Why This Discovery Matters

• High-grade intercepts like the Morena result can significantly impact project economics if they are shown to be continuous or occur in multiple, mineable zones.
• The accumulation of six new high-grade discoveries since April 2024 demonstrates consistent exploration success and de-risks portions of the property by proving the presence of repeatable high-grade mineralization.
• Expanded strike and dip continuity from systematic drilling improves the understanding of vein architecture, which is critical for future resource modeling and mine planning.

Next Steps and Outlook

Outcrop is likely to continue drilling to test the continuity of the high-grade zones along strike and at depth, refine the geological model of the Morena vein, and gather sufficient information for a resource update. Continued exploration will focus on converting high-grade discoveries into a robust, mappable resource that can be incorporated into updated resource estimates and technical studies.

Conclusion

The Morena vein discovery is a material development for the Santa Ana project. The exceptional grades reported—1,877 g/t silver and 4.26 g/t gold over a narrow interval—are notable additions to a project that already contains 24.2 million ounces silver equivalent. With the vein traced for 400 metres along strike and 300 metres down dip, supported by nearly 2,905 metres of drilling, Outcrop’s recent results strengthen the case for a forthcoming resource update and underscore the continued exploration potential of Santa Ana.