• Drilling extends known mineralization and establishes continuity
• Newly identified vein systems show significant prospectivity
• Resource update scheduled for June quarter to support economic studies

Andean Silver Limited (ASX: ASL) reported another highly successful quarter, generating strong drilling results across several key areas at its 100% owned Cerro Bayo Silver-Gold Project in southern Chile. The drilling campaign is aimed at increasing the overall resource and establishing continuity of the known mineralization in preparation for a resource update in June. Highlights include continued high-grade results from the Coyita North area, the definition of the Appaloosa Breccia as a significant zone of potential bulk-tonnage style mineralization, and strong exploration momentum at the Temer prospect. The company also completed geological mapping in the Guanaco area and continued progress on mining, metallurgical and geotechnical studies to support the subsequent feasibility study activities. Andean's strategy for 2026 includes both exploration to grow existing resources and brownfield targets, as well as restart planning through infill drilling, feasibility-level work, and the continuation of internal studies. The company will maintain its aggressive exploration program with four drill rigs on site.

Andean will continue with four drill rigs beyond the June resource update to derisk the existing resource and grow the resource through extensional drilling and testing of new targets. The drilling campaign will take place in parallel with economic studies assessing various restart mining scenarios at Cerro Bayo.