Junior drills 9,510 g/t silver at Cobalt Camp, funds 5,000 m program

A high-grade assay inside a broader silver-cobalt envelope, a new pierce point at the intersection of two major vein structures, and a fully funded next phase position one Cobalt-Gowganda explorer for a heavy news flow summer. COBALT, Ontario, May 04, 2026 (GLOBE NEWSWIRE) -- Canada News Group News Commentary — Silver’s run into the high $70s has revived a question the market has not had to take seriously in more than a decade: where do the next high-grade ounces actually come from? With silver trading around $78 per ounce and the Silver Institute pegging the 2026 shortfall at 46.3 million ounces — a sixth consecutive deficit year — investors are scanning the explorer universe for the kind of grades that move the needle on project economics, not just press releases.

That backdrop frames today’s update from Nord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: CCWOF) (FSE: QN3), which reported assay results from hole CS-26-129W2 at its Castle East project in Ontario’s historic Cobalt-Gowganda district. The headline number: 2,343.70 g/t silver (68.4 oz/ton) over 1.85 metres, including a 0.30-metre interval grading 9,510 g/t silver (277.6 oz/ton) with 3,460 ppm cobalt. The intercept sits inside a broader mineralized envelope carrying elevated cobalt, nickel, copper, and zinc — the five-element vein assemblage that defined the Cobalt Camp historically and that increasingly matters in a market where critical minerals supply is itself a thesis.

Nord also disclosed a new mineralized intercept in hole CS-21-73W1, a wedge drilled from a 2021 parent hole. At 501.90 metres downhole, the drill cut a calcite vein hosting native silver with plumose texture alongside strong cobalt arsenide mineralization, with additional mineralized intervals logged between 467 and 518 metres. The hole was designed to test the modelled intersection of two distinct vein structures, and represents the most southeastern pierce point at that intersection — extending the known footprint of the Castle East system.

Assays are pending. To translate the operational news, the Company has commenced a fully funded 5,000-metre drilling phase, continuing its ongoing 30,000-metre program at the recently enlarged Castle–Gowganda Property. Phase I completed approximately 3,500 metres and confirmed the structural model developed by Ronacher McKenzie Geoscience from 75,000 metres of historical data, which identified up to 29 discrete vein targets.

The current phase is designed to keep testing those modelled structures with the dual objective of expanding the silver footprint and delineating the critical minerals endowment alongside it. “The 9,510 g/t silver result confirms what the core showed us in February: Castle East continues to deliver bonanza-grade silver in the style that defined this district historically,” stated Frank J. Basa, P.Eng., President and CEO. “With Nord having title to all the area mining leases following the recent acquisition, we are testing structures that could not be drilled under fragmented ownership.” A few details worth noting for context.

The Castle East Robinson Zone hosts a historic Inferred mineral resource of 7.56 million ounces of silver grading an average of 8,582 g/t Ag (250.2 oz/ton) across 27,400 tonnes from two sections, beginning at a vertical depth of approximately 400 metres (per the May 2020 NI 43-101 Technical Report). The newly acquired leases additionally host a historical NI 43-101 indicated tailings resource of approximately 1,940,000 tonnes grading 47.5 g/t Ag for approximately 2,960,000 contained ounces of silver at a 10 g/t cut-off (GeoVector Management, 2011). Both the 2020 resource and the 2011 tailings estimate are considered historical; significant additional drilling, sampling, and modelling is required before either can be classified as a current mineral resource.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Nord also operates TTL Laboratories, the only permitted high-grade milling facility in the Cobalt Camp, and the SGS Lakefield-validated Re-2Ox hydrometallurgical process — built to handle the arsenic that has historically complicated complex silver-cobalt ores while producing technical-grade cobalt sulphate. That integrated processing footprint matters: it is what allows a high-grade silver discovery to potentially carry critical minerals byproduct credits into a production plan rather than leaving them stranded in an assay table.

In addition to the Castle-Gowganda complex, the Company maintains a 35% ownership in Coniagas Battery Metals Inc. (TSXV: COS) and the St. Denis-Sangster lithium project comprising 32 square kilometres near Cochrane, Ontario. CONTINUED… Read the full article and stay updated on Nord’s developments here In other news circulating around the silver and critical minerals sector: Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) reported that attributable silver production reached 22.8 million ounces — exceeding the company’s updated annual guidance range — with a record 7.3 million ounces produced in Q4 2025, boosted by the inclusion of the Juanicipio mine following the company’s US$2.1 billion acquisition of MAG Silver that closed in September 2025. Pan American is among the world’s largest primary silver producers with operations across Peru, Mexico, Bolivia, Argentina, and Chile, anchored by its La Colorada mine and a 44% stake in Juanicipio (with Fresnillo holding the remaining 56% as operator).

The company has guided to a Silver Segment all-in sustaining cost range of $15.75 to $18.25 per ounce for 2026. First Majestic Silver Corp. (NYSE: AG) (TSX: AG) reported its Q1 2026 production update on April 9, 2026, with 3.5 million ounces of silver and 34,341 ounces of gold produced from its four operating mines in Mexico. Management indicated that operations remain in line with guidance as the company continues to prioritize long-term growth investments, targeting 13.0 to 14.4 million ounces of silver in 2026 alongside a 266,000-metre drilling program.

First Majestic continues to advance its Jerritt Canyon asset in Nevada in preparation for a planned restart in the second half of 2027. Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) reported Q4 silver production of 2.03 million ounces — an increase of 146 percent year over year — following the integration of its Terronera mine in Mexico, which achieved commercial production in October 2025, and its acquisition of Compañia Minera Kolpa in Peru in May 2025 for total consideration of US$145 million in a combination of cash and shares. Endeavour now operates two silver-gold mines in Mexico (Guanaceví and Terronera) along with the Kolpa silver mine in Peru, which also produces zinc, lead and copper, plus a portfolio of exploration projects that includes the advanced Pitarilla silver project.

Silvercorp Metals Inc. (NYSE American: SVM) (TSX: SVM) reported total silver production of approximately 1.9 million ounces in fiscal Q3 2026 ended December 31, with the majority sourced from the Ying Mining District. In early February, the company announced that the construction budget for its El Domo project had been increased by US$44 million to US$284 million, with the largest single component a US$16 million increase tied to a VAT rate change in Ecuador. Silvercorp continues to advance the Kuanping satellite deposit, with minor development ore production expected to begin in June.

The convergence is hard to miss. Producers are reporting record output and prioritizing growth capital. Developers are pulling high-grade intercepts.

And the macro backdrop — physical deficits, industrial demand from solar and EVs, and a price north of $78 — is doing what no marketing budget can: making bonanza-grade silver a story the market has to listen to. With a fully funded next phase, a structural model already validated against 75,000 metres of historical data, and assays still pending on a brand-new pierce point, Nord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: CCWOF) (FSE: QN3) is set up for steady news flow into summer. CONTINUED… For more information about Nord Precious Metals Mining Inc., visit Canada News Group’s profile here CONTACT: Canada News Group info@canadanewsgroup.com (604) 265-2873 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice.

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