• 73% increase in Cerro Leon Mineral Resource to 162 Moz AgEq
• Joaquin Phase 2 drilling resumes, targeting 30,000 m
• High-grade step-out drill results at La Negra SE

Unico Silver (USL) presented its quarterly report for the three months ended 30 September 2025, highlighting a period of strong operational momentum and strategic advancement. Key achievements included a major Mineral Resource upgrade at Cerro Leon, the restart of a fully funded 30,000 metre drill campaign at Joaquin, and continued success in defining and expanding high-grade, near-surface oxide mineralisation across multiple targets. These milestones were underpinned by a $25 million equity placement, positioning the Company to deliver on its PLUS 150 and BEYOND 300 resource growth and project development strategies. The Cerro Leon global resource now stands at 31Mt at 161gpt silver equivalent (AgEq), for 162 Moz AgEq, representing a 73% increase in ounces from the May 2023 MRE. Drilling at the La Negra SE discovery recommenced, with assay results reported for 10 holes totalling 1526m, including standout intercepts exceeding 10,000 GT. Mineralisation is defined over 525m of strike and 125m of vertical extent and remains open. Drilling has also commenced at La Morocha SE and Brunilda discoveries. The Company completed the final US$1 million deferred cash payment to Austral Gold, simplifying the ownership structure and enabling the restructuring of subsidiaries and projects into a dedicated Special Purpose Vehicle to support pre-qualification for Argentina's new fiscal incentive program.

With both Cerro Leon and Joaquin now advancing in parallel and supported by a strong cash position, Unico Silver is well placed to deliver on its BEYOND 300 and PLUS 150 exploration and development strategies.