Zacatecas Silver closes first tranche of non-brokered private placement

VANCOUVER, British Columbia, July 29, 2026 (GLOBE NEWSWIRE) -- Zacatecas Silver Corp. (TSXV: ZAC | OTCQB: ZCTSF | FRA: 7TV) (“Zacatecas Silver” or the “Company”) is pleased to announce that it has closed the first tranche (the “First Tranche”) of its previously announced non-brokered private placement (, the "Offering”, see news release dated July 14, 2026) by issuing 21,074,201 Units at $0.07 per Unit for gross proceeds of $1,475,194.07.

Each Unit consists of one common share of the Company and one Common Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional Common Share at an exercise price of $0.09 for a period of two years from the closing date, subject to the Company’s right to accelerate (the “Acceleration Right”) the expiry date of the Warrants if, following the expiry of the applicable hold period, the 20-day volume-weighted average trading price of the Company’s common shares on the Exchange equals or exceeds $0.18, by providing notice to Warrant holders and press release, in which case the Warrants will expire 30 days following the date of such notice.

In connection to the First Tranche, the Company paid total finders fee of $66,933.58 and issued a total of 956,194 nontransferable share purchase warrants to finders (the “Finder Warrants”), with each Finder Warrant entitling the holder to purchase an additional Common Share at $0.09 per Common Share at an exercise price of $0.09 for a period of two years from the closing date, subject to the Company’s Acceleration Right.

All securities issued in connection with the Offering will be subject to a four-month-and-one-day hold period from the date of closing under applicable Canadian securities laws.

Proceeds of the Offering will be used to fund the Company’s planned maiden drill program at the Oso Negro project in Sonora, Mexico, following the recent completion of Phase Two rock-chip sampling and vein mapping (see news release dated July 9, 2026), together with continued exploration across the Company’s six-project Mexican portfolio and general working capital.

About Zacatecas Silver Corp.

Zacatecas Silver is a multi-asset precious metals exploration company with a portfolio of six projects across Mexico, spanning Zacatecas, Sonora, Morelos, and Oaxaca.

The Zacatecas Silver Project is located in Zacatecas State, within the highly prospective Fresnillo silver belt, which has produced over 6.2 billion ounces of silver. The Company holds 7,826 hectares of ground prospective for low-sulphidation and intermediate-sulphidation silver-base metal mineralization. A Mineral Resource Estimate at the Panuco deposit comprises 3.41 million tonnes at 187 g/t AgEq for 20.5 million ounces AgEq (see news release dated May 31, 2023). The property is 25 km southeast of MAG Silver's Juanicipio Mine and Fresnillo PLC's Fresnillo Mine, and shares boundaries with Defiance Silver and Endeavour Silver.

Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico. The Company announced a Mineral Resource Estimate at Esperanza consisting of a Measured and Indicated Mineral Resource Estimate of 45.4 million tonnes at 0.79 g/t AuEq (0.76 g/t gold and 8.5 g/t silver) for 1.15 million ounces AuEq (1.11 million ounces gold and 12.37 million ounces silver) and an Inferred Mineral Resource estimate of 11.2 million tonnes at 0.57 g/t AuEq (0.53 g/t gold and 11.2 g/t silver) for 208 thousand ounces AuEq 190 thousand ounces gold and 4.02 million ounces silver (see news release dated June 22, 2026.