• Exploration has commenced at Advance's 100%-owned Gavilanes Silver Project in Mexico
• Drilling to test depth and strike extensions to the existing high-grade system
• Review of previous drilling identified unassayed core to be sampled

Advance Metals Limited (ASX:AVM) has announced that diamond drilling has commenced at its 100%-owned Gavilanes Silver Project in western Durango, Mexico. The upcoming diamond program represents the first on-ground exploration undertaken by the Company at Gavilanes since its acquisition last year. The Project hosts an existing Foreign Estimate comprising 2.83Mt at 246g/t AgEq, containing 22.4Moz AgEq. Previous drilling at the site has intersected strong silver mineralisation at shallow depths over a trend of more than 700 metres, including 6.3 metres at 2,016g/t Ag, 3.3 metres at 2,540g/t Ag, and 6.9 metres at 583g/t Ag. The full drilling program is expected to comprise 15 to 18 new diamond holes totalling up to 4,500 metres, designed to test depth and strike extensions to the existing high-grade system, as well as priority targets at the peripheral El Nopal, La Cruz, and La Tuna prospects. A review of previous drilling has also identified unassayed core, which will be sampled as part of a low-cost data generation workstream. The results from the new drilling and historic core sampling are expected to support a planned Gavilanes JORC Resource upgrade later in 2026.

The commencement of drilling at Gavilanes represents the next phase of Advance's Mexican silver growth strategy. With drilling now underway and additional historic core sampling planned, Gavilanes has the potential to deliver strong news flow as Advance continues to build a focused precious metals portfolio across Mexico and Australia.