Sun Silver Expands Maverick Silver Project with Strategic Acquisition and Northern Land Consolidation

Acquisition of Bayan Springs North Project and staking of 106 additional lode claims consolidates uninterrupted ownership across emerging 15km northwest corridor

PERTH, Australia, July 23, 2026 /PRNewswire/ -- Sun Silver Limited (ASX: SS1) (OTCQX: SSLVF) ("Sun Silver" or "the Company") is pleased to announce it has executed a binding agreement to acquire the 100% owned Bayan Springs North Project from Bayan Mining and Minerals Ltd (ASX: BMM), while simultaneously staking an additional 106 lode mining claims covering approximately 8.86km² immediately north-west of the Maverick Silver Project ("Maverick" or "the Project") in Nevada, USA. Together, these transactions secure continuous ownership across the emerging northwest mineralised trend and materially strengthen Sun Silver's strategic land position surrounding the Maverick Silver Project.

Highlights: 

• Binding agreement executed to acquire the 100% owned Bayan Springs North Project from Bayan Mining and Minerals Ltd (ASX: BMM), subject to customary completion conditions. 
• Acquisition secures continuous control of the highly prospective northwest extension of the Maverick Silver Project. • Additional 106 lode mining claims staked, adding approximately 8.86km² to the Project. 
• Combined acquisition and staking significantly expands Sun Silver's landholding over the interpreted northwest structural corridor. • Land position now controls approximately 15 kms of prospective strike, with only approximately 2.5 kms drill tested to date. 
• New Northern Target defined over a 2km arsenic-antimony anomaly, exhibiting key pathfinder geochemical signatures consistent with the 539Moz AgEq Maverick Silver Deposit.

Sun Silver Managing Director, Andrew Dornan, said: "Securing continuous ownership across the northwest extension of Maverick is an important strategic outcome for the Company. The acquisition and additional claim staking provide Sun Silver with control of a highly prospective corridor that has emerged through our evolving geological understanding and remains largely untested. With our 2026 drill program ongoing and assay results expected shortly, we believe the Company is well positioned to continue demonstrating the broader scale potential of the Maverick Silver Project." 

The acquisition provides uninterrupted control of the Company's evolving geological model and ensures ownership of the entire interpreted mineralised corridor extending northwest from the existing 539Moz AgEq Maverick Silver Deposit. 

Strategic Expansion of the Maverick Silver Trend 

Drilling, geological relogging and detailed surface mapping completed between 2024 and early 2026 have fundamentally refined the Company's understanding of mineralisation controls at Maverick. 

This work has identified high-grade mineralisation as being focused within a northwest-trending antiformal hinge and associated structural corridor. 

Exploration undertaken during 2025 successfully tested this interpretation, resulting in the northwest expansion of the Mineral Resource Estimate, including an outstanding drill intercept of 70.1m @ 160g/t AgEq from 255.1m; including 22.4m @ 460g/t AgEq from MR25-211. 

These results further validate the Company's evolving structural model and demonstrate the potential for continued resource growth along strike. 

Northern Target 

Surface exploration has subsequently identified a compelling new exploration corridor extending well beyond the current Mineral Resource footprint. 

Recent regional rock chip sampling has identified an anomalous trend associated with elevated antimony and arsenic assay results and coincident favourable alteration which are considered hallmark features of Carlin style mineralising systems. This interpreted anomaly envelope has a strike length of 2km and exists approximately 4.5km north of the Maverick mineral resource area and is associated with: 

• silica alteration;
• decalcification; and
• jasperoidal brecciation.

This geochemical signature has similarities to surface samples directly above the Maverick Silver Deposit where 2025 rock chips showed elevated aresnic and antimony along with sporadic anomalous silver and gold.

Carlin-style mineral systems are recognised worldwide by characteristic pathfinder element zoning, with arsenic-antimony anomalism commonly occurring proximal to mineralisation and mercury-thallium anomalism occurring more distally.

The similarity between the Northern Target geochemistry and the existing Maverick Deposit represents a high priority exploration target located more than 4 kilometres north of the current Mineral Resource. Exploration will focus on determining whether the anomaly forms part of the same mineralising system. Figure 1 below displays antimony (Sb) values from rock chips and associated interpreted anomalous trends to the west and north based on sample results and geological field work.

SOURCE Sun Silver Ltd.