ICG Silver & Gold advances Phase 1 drilling to 2,525 meters at Tuscarora

Approximately 2,525 meters completed in 10 RC holes, representing approximately 84% of the planned 3,000-meter Phase 1 program

Preliminary geological logging indicates the intended geological horizons were encountered at Silica, Battle Mountain, King's Vein and East Pediment

Drilling continues at East Pediment target, with two additional holes planned; initial assay results pending

Toronto, Ontario--(Newsfile Corp. - August 25, 2026) - ICG Silver & Gold Ltd. (CSE: ICG) (FSE: JI0) (OTC Pink: ICGSF) ("ICG" or the "Company") is pleased to provide an update on its ongoing Phase 1 Drill Program at the Company's Tuscarora District Project ("Tuscarora" or the "Project") in Elko County, Nevada.

Drilling has advanced approximately 8,286 feet (2,525 meters) across 10 holes at the Silica, Battle Mountain, Kings Vein and East Pediment target areas. To date, drilling at each of the completed target areas has encountered the geological horizons interpreted in the Company's 3D subsurface model, which already includes over 40,000 meters of historical drilling.

The Phase 1 Drill Program is designed to test and refine the Company's geological model across several priority target areas within the Tuscarora District and provide additional subsurface information to support ongoing evaluation of the Project. Silica, Battle Mountain and East Pediment are targets with historical drilling, and the Company aims to infill and expand on the current model. King's Vein represents an exploration target refined through mapping, surface rock chip and soil sampling, and CSAMT geophysical data.

Drill Program Highlights

Silica: Three holes totaling approximately 2,215 feet (675 meters) have been completed.

Battle Mountain: Three holes totaling approximately 2,650 feet (807 meters) have been completed.

Kings Vein: One hole totaling approximately 840 feet (256 meters) has been completed.

East Pediment: Drilling has advanced through three holes totaling approximately 2,581 feet (787 meters) , with drilling currently ongoing. Two additional holes are planned at East Pediment.

"Reaching the modeled target horizons across each of the areas drilled to date is an important first step in testing the geological framework we developed ahead of this program," said Steven Sirbovan, President, CEO and Director.

"The consistency between our current model and what we are encountering in the subsurface is allowing us to refine our interpretation of the system in real-time as drilling progresses. With assays pending and additional drilling underway at East Pediment, we continue to build the dataset needed to evaluate continuity between historical drilling and advance the broader geological model at the Tuscarora District," said Korbon McCall, VP of Exploration.

Based on encouraging technical indications as part of preliminary geological logging at Silica, Battle Mountain, Kings Vein, and East Pediment, combined with the objective of maximizing the technical information generated from the remaining Phase 1 meters, the Company has reallocated drilling previously planned for Grand Prize and Modoc targets to two additional holes at the East Pediment target. The Grand Prize and Modoc targets are expected to be drilled in future programs.

Image 1: Drill rig actively drilling at the East Pediment target.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/12036/311314_icg1.jpg

Image 2: Example of chips from the East Pediment target at approximately 830 feet (253 meters), showing a clay-altered andesite with pyrite mineralization.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/12036/311314_icg2.jpg

Next Steps

Drilling continues at East Pediment, with two more holes planned.

As assay results are received and validated, the Company will integrate assay data with geological logging and the existing three-dimensional model to:

Evaluate gold and silver mineralization within the targeted horizons;

Assess geological and mineralized continuity between drill holes;

Refine structural and stratigraphic controls on mineralization;

Prioritize follow-up and step-out drilling; and

Continue advancing the Tuscarora District geological model toward future resource-definition work.

Assay results from the Phase 1 Drill Program will be published once the Company has received and interpreted the data and completed its quality assurance and quality control procedures.

Quality Assurance / Quality Control

Drill samples from the Tuscarora Phase 1 exploration program are being submitted to an independent analytical laboratory for preparation and analysis. The Company maintains a quality assurance and quality control program that includes the regular insertion of certified reference materials, blanks and duplicate samples into the sample stream.

QP Statement

The scientific and technical information contained in this news release has been reviewed and approved by Steven L. McMillin, P.G., of Rangefront Mining Services , a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and an independent consultant to the Company.

About ICG Silver & Gold Ltd.

ICG Silver & Gold Ltd. is a new mineral exploration and development company advancing the Tuscarora District in northern Nevada. The Company's strategy is centered on:

Advancing the Tuscarora District through systematic exploration and technical studies;

Building a district-scale geological model; and

Progressing the Project toward resource definition and future development.

The Tuscarora District is a silver-gold epithermal system at the intersection of the Carlin and Independence Trends, approximately one hour northwest of Elko, Nevada. ICG controls 100% of the approximately 10,000-acre land package, on which extensive rock chip sampling, thousands of meters of reverse circulation and core drilling, and tens of kilometers of CSAMT geophysics have been completed. ICG believes in the long-term value of precious metals exploration, especially silver and gold, and is led by a technical and management team with extensive experience in exploration, permitting, capital markets, and the development of mining projects in the Western United States, including Nevada.

On Behalf of ICG Silver & Gold Ltd. Board of Directors:

Steven Sirbovan, President, CEO & Director Corporate Office: 82 Richmond Street East, Toronto, ON, M5C 1P1

Investor relations contact: Kristina Pillon, High Tide Consulting Corp. 604.908.1695 / 437.525.4240 / 24-hour, 7-day a week hotline

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

Forward-looking Information

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this news release include, without limitation, statements related to ICG's future exploration plans; the potential for shared or overlapped mineralizing episodes; the identification of feeder structures and structural controls on mineralization; the Company's strategy to consolidate and control a district-scale land position; and the potential to expand mineralization laterally and at depth. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including assumptions regarding the availability of financing to fund exploration activities, the receipt of necessary permits and regulatory approvals, the accuracy of the Company's geological interpretations and models, and the reliability of historical data, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, exploration risks and uncertainties, the ability to obtain necessary permits and regulatory approvals, changes in environmental and other applicable legislation, the uncertainty of mineral exploration and development, title risks, reliance on key personnel, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311314

TMX Newsfile

August 25, 2026 - 4:00 AM PDT

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