• Drilling continues to extend known mineralisation beyond existing resource
• More outstanding high-grade silver-gold intersections near processing infrastructure
• Results to contribute to H1/2026 resource update

Andean Silver Limited is pleased to announce strong drilling results which continue to extend the known mineralisation well beyond the current resources at its Cerro Bayo Silver-Gold Project in Chile. The latest drilling within the main Laguna Verde mine complex has extended the known mineralisation to 50m outside the existing resource, with drilling continuing to target resources within 1km of the processing facility. Significant intercepts include 8.6m @ 375g/t AgEq (170g/t Ag & 2.5g/t Au) (4.5g/t AuEq), including 2.0m @ 1,507g/t AgEq (692g/t Ag & 9.8g/t Au) (18.2g/t AuEq) at the Delia SE mine, as well as new discoveries at the Temer Vein complex and the Appaloosa deposit. The drilling campaign is designed to continue growing the resource and convert Inferred Resources to Measured and Indicated categories. Andean remains well funded to accelerate drilling and achieve its goals, with ~A$64m in cash post-raising. The Company aims to continue this growth over the coming year while advancing to the next stage of the project, including drilling brownfields targets, reviewing results, and commencing broader regional exploration campaigns.

Andean is not providing any high-importance, price-sensitive forward-looking financial metrics or other company-specific metrics in this announcement.

Andean aims to continue its growth over the coming 12-month period through a combination of drilling brownfields targets for growth of existing Resources, underpinning long-term growth through project generation from regional mapping and discovery, reviewing results and building a comprehensive drill campaign over the greenfield projects, commencing broader regional exploration campaigns, and commencing internal studies which will guide the future restart planning phases.