• Firm commitments to raise $25 million via a single-tranche placement
• Proceeds to fund aggressive drilling, resource upgrades, and Scoping Study
• Cerro Leon project hosts 91Moz AgEq Mineral Resource, Joaquin project hosts 73Moz AgEq Foreign Estimate

Unico Silver Limited ('USL' or the 'Company') has announced the successful completion of a $25 million placement to domestic and offshore institutional and sophisticated investors. The proceeds will be used to fund an aggressive 30,000m drilling program, update Mineral Resource Estimates, and publish a maiden Scoping Study for the Company's Cerro Leon and Joaquin silver projects in Argentina. The Cerro Leon project currently hosts a JORC-compliant Mineral Resource Estimate of 91Moz AgEq, while the Joaquin project has a historical Foreign Estimate of 73Moz AgEq. The Company has also reported historical production of 4.3Moz Ag from the Joaquin project between 2019-2022. Managing Director Todd Williams commented that the financing significantly de-risks the development pathway, enabling the Company to accelerate exploration and progress towards its 'PLUS 150' strategy of defining 150Moz of pit-constrained, free-milling silver equivalent resources.

The Company plans to immediately recommence drilling in early September, with over 30,000 metres planned across the Joaquin and Cerro Leon projects. These programs will target both new discoveries and near-resource growth as the Company progresses toward its PLUS 150 development strategy.