Vancouver, British Columbia--(Newsfile Corp. - January 22, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: SFRIF) (FSE: E9Z) is pleased to provide an update on its ongoing diamond drilling program at the Silver Hill Project, which is located approximately 15km south of Lexington, NC.

Two recently completed drill holes, SH26-07 and SH26-08 (currently in progress), have intersected multiple intervals of sulphide mineralization at depth, located proximal to historic underground workings but within areas that have not been previously drill tested. Mineralization is hosted in tuffaceous argilites and rhyolitic volcaniclastics and massive flows.

Hole SH26-07 intersected a broad zone of mineralization between approximately 129.85m and 155.45m downhole, comprising multiple discrete intervals of semi-massive to massive sulphides with associated quartz veining, silicification, and sulphide mineralization comprised of sphalerite, galena, and pyrite.

Drilling of hole SH26-08 has now intersected sulphide mineralization beginning at approximately 185m to 191m, for an apparent thickness of 6m and an estimated true thickness of 4m. This interval occurs at depth, south of the termination of historic underground workings, within a zone that has not previously been drilled.

The Company notes that visual identification of sulphide mineralization intervals do not indicate metal grades or economic significance. Core processing is ongoing with logging, sampling, and submittal for labratory analysis underway.

The current drilling continues to test down-dip and along-strike extensions of the Silver Hill mineralized system, with step-out drilling planned to evaluate continuity and scale.

The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of the mineralization. At the time of this release, analytical results are still pending, the reported intervals are based on geological logging only.

Qualified Person

All scientific and technical information, has been reviewed and approved by Rory Kutluoglu, B.Sc., P.Geo., a "Qualified Person" as defined under NI 43-101 - Standards of Disclosure for Mineral Projects. Mr. Kutluoglu is an independent consultant of the company within the meaning of NI 43-101.

Silver Hill Project

Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. This terrane has been suggested to be an extension of the Avalon Terrane. The property is 1,128 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, there is an extensive drillhole database, underground mapping, historic dumps and underground chip samples which comprise the historic dataset. This mineralization is currently known to extend to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions. Bolstering these historic records, recent surface sampling contained results including SH25-003 containing 444g/t Ag, 17.7 g/t Au, 8.61% Pb and 0.507% Zn.

Byrd-Pilot Mountain Project

Located in central North Carolina, within the Carolina Terrane. Early USGS work in the 1980s flagged the area as possibly hosting a porphyry gold-copper system, subsequent work demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling indicates east-west trend to the identified mineralization, open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.

All scientific and technical information in this news release has been reviewed and prepared under the supervision of Rory Kutluoglu, P.Geo., a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About Metalsource Mining Inc.

Metalsource Mining Inc. is a Canadian mineral exploration company focused on advancing high-potential mineral assets through modern, systematic exploration and value-driven discovery.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281223