Silverco Mining releases PEA for Cusi Mine restart

Vancouver, British Columbia--(Newsfile Corp. - April 13, 2026) - Silverco Mining Ltd. (TSXV: SICO) (OTCQB: SICOF) (the "Company" ) is pleased to announce the results of an independent Preliminary Economic Assessment ("PEA") for the restart of its 100%-owned Cusi Mine located in Chihuahua, Mexico. Key Highlights: After-tax NPV (5%) of US$104.1 million ("M"), IRR of 94.8% and a payback period of 0.9-years at base case average silver price of US$44.58/ounce ("oz"). After-tax NPV (5%) of US$312.2 M, IRR of 186.9% and a payback period of 0.5-years at the upside case of US$75.00/oz.

Average annual production of ~2.5 Moz silver equivalent (“AgEq”) 1  (2028-2033) with ~90% revenue from silver. Life-of-mine AISC of US$26.75 per payable oz AgEq. Initial capital of only US$19.2 M, delivering 5.4x after-tax NPV/to initial capital at base case metal prices.

Restart of processing targeted for late 2026 with full ramp-up by mid-2027 30,000 metre surface and underground drill program underway targeting infill, resource growth and mine life extension. Early restart work is underway at the mine and mill and discussions are underway to select an underground contractor. Mark Ayranto, President and CEO, commented: "We believe the PEA confirms Cusi as one of the most compelling primary silver restart opportunities globally.

With low upfront capital, rapid payback, and strong leverage to rising silver prices, Cusi is positioned to deliver near-term production and cash flow. Importantly, ongoing drilling and restart work provide clear upside to both scale and mine life. We have sufficient funds currently on hand to finance the restart and continue our previously announced 30,000 m drill program that is testing for on strike and downthrown extensions, in addition to infill drilling.

Work is also well underway at the mine and mill to support the restart, including dewatering and mine rehabilitation, hiring of key discipline managers, and commencement of the bid process for a