Exceptional Metallurgical Recoveries Achieved

• Silver recoveries up to 78.3%, averaging 77%; Gold recoveries up to 77.3%, averaging 74% under heap leach test conditions
• Cyanide leach tests achieved silver recoveries up to 90%, averaging 87.25%, and gold recoveries up to 84.7%, averaging 82.15%
• Metallurgical testwork indicates ore is non-refractory and non-preg robbing in nature

Sun Silver Ltd announced exceptional metallurgical test results from its Maverick Springs Silver-Gold Project in Nevada, USA. Intermittent Bottle Roll (IBR) cyanide leach tests on coarse-crush material achieved silver recoveries up to 78.3%, averaging 77%, and gold recoveries up to 77.3%, averaging 74%. These IBR tests provide an estimate of heap leach recoveries. Cyanide leach tests, which provide an estimate of a fine grind tank leach, achieved silver recoveries up to 90%, averaging 87.25%, and gold recoveries up to 84.7%, averaging 82.15%. The metallurgical testwork indicates the ore is non-refractory and non-preg robbing in nature. The results demonstrate high silver and gold recoveries across three crush sizes, reinforcing the potential for a low capital heap leach development pathway for the project. The Company plans to conduct column leach tests simulating heap leach at scale, complete a review of the 2025 drill samples program, and undertake internal studies targeting conversion into a Scoping Study/Preliminary Economic Assessment later in 2026.