Metalsource Mining expands Silver Hill District exploration footprint
Metalsource Land package increases to approximately 1,300 acres, securing new prospective ground along strike and down dip of known mineralization while the Company advances plans to accelerate exploration through increased drilling capacity. Vancouver, British Columbia--(Newsfile Corp. - July 2, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce the strategic expansion of its Silver Hill land package through the execution of option agreements covering three additional properties totaling approximately 141 acres. The acquisitions increase the Company's consolidated land position to approximately 1,300 acres and secures prospective areas interpreted to be along strike and down dip of known mineralization.
The transactions represent another important step in Metalsource's strategy to systematically expand the Silver Hill district as ongoing drilling, geophysics and geological interpretation continue to strengthen management's understanding of the broader exploration opportunity. Management will continue evaluating strategic land acquisition opportunities that align with its evolving geological model, strengthening the Company's ability to systematically explore and unlock the broader potential of Silver Hill. Highlights Land position expanded to approximately 1,300 acres through option agreements covering three additional properties.
Newly acquired ground is interpreted to be along strike and down dip of known mineralization and part of the evolving Silver Hill geological model. Expansion supports the Company's objective of evaluating the broader district scale potential beyond the historic mine footprint. Exploration continues across Silver Hill with multiple assays pending while management advances plans to increase drilling capacity.
Figure 1: Plan view of existing property (yellow) with additional property additions (red). Note: Coordinate system in coordinates in WGS84 / UTMZ17N To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/12035/303699_cf8f383dd4c1998b_002full.jpg Joe Cullen, CEO of Metalsource Mining, commented: "This is a strategic acquisition we've been working toward for some time. As drilling, geophysics and geological interpretation have continued to improve our understanding of the Silver Hill system, it became increasingly important to secure these highly prospective properties while the opportunity was available.
We're grateful to the families who have owned this land for generations and appreciate the trust they've placed in our team. Every successful drill hole has strengthened our confidence in the broader district and helped define where we believe the next phase of exploration should be focused. These newly acquired properties provide access to compelling exploration targets that we look forward to advancing in the near term as we continue expanding the known mineralized footprint at Silver Hill.
"As we move closer to increasing drilling capacity, our vision is clear: one program focused on systematically expanding the Silver Hill proper, while additional drilling evaluates high priority regional targets generated through our geological work and recent IP surveys. We believe we're still in the early stages of understanding the scale of this district, and we're excited by the potential for both resource expansion and new discoveries." What's Next Multiple assays pending from the current drill campaign, with results expected to continue advancing the Company's understanding of the Silver Hill system. Increasing drilling capacity as management advances plans to secure an additional drill rig to accelerate testing of both known mineralization and newly identified exploration targets.
Testing the broader district through continued integration of drilling, IP geophysics and geological interpretation to prioritize additional targets beyond the historic mine footprint. Continuing strategic growth through evaluation of additional land opportunities that complement the Company's evolving district scale exploration strategy. Why This Matters to Investors The expansion of the Silver Hill land package reflects management's growing confidence in the broader exploration potential of the district.
As drilling, geological interpretation and property scale geophysical surveys continue to refine the Company's understanding of the system, Metalsource is strategically securing prospective ground that may host mineralization and additional high priority exploration targets. The newly acquired properties are expected to play an important role in the next phase of exploration. While the current drill program continues to systematically expand the known Silver Hill deposit, these acquisitions position the Company to evaluate a growing pipeline of prospective targets across the broader district as additional drilling capacity comes online.
With multiple drill holes pending, plans to accelerate exploration and an expanding portfolio of high priority targets, Metalsource believes it is transitioning from exploring a historic mine to systematically unlocking the broader district scale potential of one of America's most historically significant polymetallic mining camps. Qualified Person All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects. Silver Hill Project Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age.
Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples.
Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions. Byrd-Pilot Mountain Project The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system.
Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m.
No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement. About Metalsource Mining Inc. Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques. Metalsource Mining America's First Silver Mine. Modern Exploration.
Historic Opportunity. For further information, please contact: Joe Cullen CEO - Metalsource Mining Inc. Tel: (778) 919-8615 Email: jcullen@metalsourcemining.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303699 Newsfile Corp. July 2, 2026 - 4:30 AM PDT News by QuoteMedia www.quotemedia.com