Mithril drills 550 m strike at Copalquin-Zaragoza structure

Melbourne, Australia and Vancouver, Canada – August 27, 2026 – TheNewswire - Mithril Silver and Gold Limited ("Mithril” or the "Company") (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF) is pleased to provide details of significant progress at Mithril’s district scale Copalquin property, Durango State, Mexico.

Drilling Highlights

Recent drilling at the historic Copalquin Mine area at Target 4 has returned wide, high-grade, and near surface silver and gold mineralisation, with substantially elevated silver values,

Mineralisation intercepted by drilling across the combined Copalquin-Zaragoza corridor now extended to a strike length of 550 metres and 200 metres vertically

Projected vein remains untested 400 m to the northwest towards Target 1 (Refugio) and 600 m to the southeast towards Target 4 (San Manuel):

11.70 m @ 456 g/t AgEq 1 ( 1.06 g/t gold, and 381 g/t silver) from 22.0 m (CO26-001) , including

3.40 m @ 1,239 g/t AgEq (2.72 g/t gold, and 1049 g/t silver) from 28.4 m, and including

0.60 m @ 3,877 g/t AgEq (4.81 g/t gold, and 3,540 g/t silver) from 31.2 m.

13.95 m @ 387 g/t AgEq (1.76 g/t gold, and 264 g/t silver) from 88.85 m (CO26-002) , including

1.00 m @ 1,747 g/t AgEq (7.03 g/t gold, and 1,255 g/t silver) from 97 m.

6.50 m @ 320 g/t AgEq (0.22 g/t gold, and 305 g/t silver) from 93.4 m (CO26-003) , including

0.80 m @ 1,890 g/t AgEq (1.07 g/t gold, and 1,815 g/t) silver from 97 m.

This latest drilling includes higher silver grades and builds on successful results from June 2024 when the first drill holes in this area returned intercepts, including 5.66 m with 2.58 g/t gold, 230 g/t silver from 18.5 m in drill hole CDH-152 2 . At the time, the geology of the area was not well understood. With the