• Drilling extends known mineralisation and confirms strong continuity within existing Resource
• Resource update scheduled for June quarter expected to underpin restart studies
• Drilling targeting both Resource growth and increase in Indicated category

Andean Silver Limited (ASX: ASL, OTCQX: ADSLF) has announced strong drilling results that continue to extend the known mineralisation and demonstrate continuity at its Cerro Bayo Silver-Gold Project in Chile. The accelerated drilling program underway at the Laguna Verde Mine Complex aims to grow the current Cerro Bayo Mineral Resource Estimate of 9.8Mt @ 353g/t AgEq for 111 Moz AgEq and upgrade further resources to the Measured and Indicated categories. Infill and resource growth drilling are key contributors to Andean's strategy of creating shareholder value through the drill bit by expanding and upgrading its mineral resource base and underpinning future economic studies to support the Company's future transition to producer. The drilling results will be included in the upcoming Resource update scheduled for the June quarter, which is expected to underpin the restart studies. Highlights of the drilling include high-grade intersections at the Temer Vein complex, Coyita North, and the Appaloosa Breccia, demonstrating the potential for both open pit and underground development scenarios. Andean remains well funded to continue its exploration and development activities at Cerro Bayo.

The updated Mineral Resource Estimate is expected to underpin restart studies, which will be completed in parallel with ongoing drilling, including programs to test new areas with extensive known mineralisation.

Andean's strategy for 2026 includes continuing exploration to grow existing Resources, developing and permitting a comprehensive drill campaign over greenfield projects, and commencing feasibility-level work to support the project's restart planning.