Metalsource Mining Continues to Define High Grade Polymetallic Core at Silver Hill with 33 Metre down Plunge Step Out

Hole SH26-19 returns 6.28 metres grading 1,156 g/t AgEq, including 1,789 g/t AgEq over 3.6 metres, extending the emerging high grade corridor while improving confidence in the continuity of mineralization and ongoing vectoring toward new zones.

Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce additional assay results from its ongoing drill program at Silver Hill, where systematic step out drilling continues to improve management's understanding of the continuity and orientation of a growing high grade polymetallic system. Hole SH26-19 returned 6.28 metres grading 1,156 g/t silver equivalent ("AgEq"), including 3.6 metres grading 1,789 g/t AgEq. Positioned at the southern edge of recent drilling, the intersection contains elevated gold and silver values coincident with high grade massive sphalerite, providing additional confidence in the Company's evolving geological model and continued vectoring toward new mineralization.

The Silver Hill polymetallic system remains open along strike, down plunge and at depth. With multiple drill hole results currently pending, Metalsource believes the current exploration program is still in the early stages of defining the scale and continuity of the system.

SH26-19: Tested the down plunge projection of the emerging high grade polymetallic corridor defined by drill holes SH25-01, SH25-02, SH26-07 and SH26-11. The hole returned composite values of up to 35% combined lead and zinc and up to 16.5 g/t gold, further supporting management's evolving geological model and continued vectoring toward higher grade portions of the system. Mineralization encountered in SH26-19 comprises two mineralized intervals separated by less than two metres. The upper 3.60 metre interval is characterized by elevated gold and zinc values with moderate silver and lead. The lower interval (224.00 m to 228.23 m) is characterized by elevated silver and lead values with moderate gold and zinc.

A 3.05 metre interval of core was not recovered between 224.88 metres and 227.93 metres. Based on the position of the interval relative to mapped historic underground workings, the Company interprets the core loss to represent previously mined material. High grade mineralization intersected immediately above and below the interval is consistent with this interpretation and provides additional support for the continuity of the mineralized corridor across the historic workings. Additional drilling will be required to confirm continuity through the interpreted mined section.

SH26-19 continues to support our thesis that Silver Hill is a viable exploration target with widespread polymetallic mineralization that has an emerging high-grade core. This trend continues to guide exploration planning as we work to grow mineralization along strike and down dip. Step out drilling to the south of SH26-19 is in progress.

Table 1: Composite assay results from SH26-19. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq calculations below.

Figure 1: Panoramic photograph showing mineralization from SH26-19.

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Figure 2: Plan view of the Silver Hill project area showing the location of Pads 1-5. Transparent aerial image shows position of underground historic workings.

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Figure 3: Long section looking southeast (113°) showing intercept locations colored by AgEq. Black dots indicate intercepts with pending assays. Note: Small colored dots within historic workings are bulk samples taken by previous workers and are colored by AgEq. 

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Joe Cullen, CEO of Metalsource Mining, commented:

"Hole SH26-19 represents another important step forward in our understanding of the Silver Hill system. While the grades are certainly encouraging, what excites us most is that this hole successfully extends the emerging high grade corridor approximately 33 metres down plunge while continuing to demonstrate the continuity of silver, gold, lead and zinc mineralization. Each successful step out gives us greater confidence that we're tracking a coherent mineralized system rather than isolated high grade zones.

"As our geological model continues to evolve, we believe we're becoming increasingly effective at vectoring toward the higher grade portions of the system. The consistency of the polymetallic mineralization, combined with repeated success in our step out drilling, is helping us systematically refine where we focus the drill bit.

"Just as importantly, this is only one piece of a much larger exploration strategy. Multiple assays remain pending from the current drill program, additional property scale targets continue to emerge through our IP surveys, and we are actively advancing initiatives designed to aggressively accelerate exploration across Silver Hill. As our confidence in the geological model continues to grow, we're evaluating opportunities to increase drilling capacity so we can continue expanding known mineralization while testing new targets across the broader district. We believe we're still in the early stages of understanding what Silver Hill may ultimately become."

What's Next

• Multiple Assays Pending: Results remain outstanding from several completed drill holes, providing a continued pipeline of near term exploration catalysts as the current campaign advances.
• Accelerating Exploration: Building on continued drilling success and encouraging property scale geophysical results, the Company is advancing initiatives to increase drilling capacity and accelerate exploration across Silver Hill.
• Expanding the District-Scale Opportunity: Ongoing geological interpretation, combined with recently completed IP surveys, continues to identify additional priority targets both within and beyond the historically mined area, supporting management's broader district scale exploration strategy.
• Refining the Geological Model: As drilling, geophysics and structural interpretation continue to converge, Metalsource expects to further refine targeting of the highest grade portions of the system while systematically expanding the known mineralized footprint.
• Evaluating Strategic Land Expansion: Metalsource is assessing opportunities to expand its land position in prospective areas identified through geological and geophysical analysis, strengthening its ability to explore district-scale potential.

Why This Matters to Investors

Hole SH26-19 represents more than another high grade intercept. It demonstrates that Metalsource continues to successfully extend mineralization while improving its understanding of the geometry and continuity of the emerging high grade core at Silver Hill.

Every successful step out reduces geological uncertainty and improves management's ability to target future drilling. Rather than simply confirming historic mineralization, the Company is now systematically expanding the known footprint of the system while refining the structural controls that appear to influence higher grade mineralization.

Importantly, this result represents only one component of a much broader exploration program. Multiple drill holes remain pending from the current campaign, additional exploration targets continue to be generated through property scale IP surveys, and management is advancing plans to accelerate exploration across the district. Together, these initiatives are designed to expand the known mineralized footprint, evaluate new discovery opportunities and advance Silver Hill toward an inaugural modern resource estimate.

Table 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N.

Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.

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 mineralization. At the time of this release analytical results remain pending.

*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.

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Qualified Person

All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 – Standards of Disclosure for Mineral Projects.

Silver Hill Project

Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.

Byrd-Pilot Mountain Project

The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration 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 of currently identified mineralization indicates an east-west trend 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.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.

The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.

Metalsource Mining America's First Silver Mine. Modern Exploration. Historic Opportunity.

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