ADVANCED METALS Limited
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ADVANCED
METALS
Yoquivo Silver-
Gold project
33Moz AgEq Maiden JORC Mineral Resource
- Maiden 33Moz AgEq JORC Resource Established
Yoquivo hosts an Inferred Mineral Resource of 8.8Mt at 120g/t AgEq for 33Moz AgEq, establishing a substantial resource base at the 100%-owned project.
- Significant Increase in Project Endowment
The April 2026 Mineral Resource replaced the previous Foreign Estimate and incorporated the extensive drilling, resampling and geological work completed by Advance.
- High-Grade Silver-Gold System Remains Open
Mineralisation remains open along strike and at depth, providing further opportunities to grow the existing resource. - Advanced Exploration Database
The Mineral Resource incorporates extensive diamond drilling and geological data across the Pertenencia and Esperanza areas. - Further Resource Growth Potential
Advance continues to evaluate opportunities to extend and convert mineralisation across the broader Yoquivo system.
ASX source: 33Moz AgEq JORC Mineral Resource for Yoquivo — 8 April 2026.
Yoquivo Silver Gold project
Schematic cross section (±37.5m, looking north-northeast) through the central portion of Pertenencia showing previous drilling and highlighting selected broad intervals (purple) defined following the recent resampling program. An approximate outline of the existing Foreign Estimate 3,4, along with significant down hole intersections for new oblique drill hole YQ-26018 (red bars) are also shown.
Plan of the Yoquivo Project showing recently collected high-resolution LiDAR topography data with mapped veining (red lines), along with existing drill holes (black) and new drill holes (blue).
Plan of the Esperanza Prospect showing recently collected LiDAR topography data with existing drill holes3 (black) and new drill holes (blue). The image shows grades greater than 20g/t AgEq2 (red barrels) plotted down hole, with recent drilling extending known mineralisation to a strike of at least 210m.
Sulphide-hematite-quartz-carbonate breccia that forms part of the broad mineralised interval in YQ-26-018. This interval graded 0.74m at 572g/t Ag & 10.0g/t Au from 354.64m.
Yoquivo Silver Gold project
Plan showing a LiDAR terrain model at Yoquivo along with current drilling and the new MRE footprint at Pertenencia (right) and Esperanza (left).
Figure 3. Cross section looking north-northeast through the MRE’s at the Pertenencia deposit (right) and Esperanza deposit (left).
Sulphide-hematite-quartz-carbonate breccia that forms part of the broad mineralised interval in YQ-26-018. This interval graded 0.74m at 572g/t Ag & 10.0g/t Au from 354.64m.
Gavilanes Silver Project
High grade silver mineralisation (black) from previous drill hole SCHN-008, grading 876g/t Ag.
- Four from Four High-Grade Silver Hits
Every Advance Metals drill hole reported to date has intersected high-grade silver mineralisation. - Mineralised System Extends More Than 750 Metres
Drilling continues to expand the Descubridora system, with mineralisation remaining open along strike and at depth. - High-Grade Silver Continues to Expand South
GV-26-004 extended the system a further 55 metres south, returning 13.2m @ 311g/t Ag, including 6.0m @ 612g/t Ag. - Deeper Copper-Gold-Silver System Emerging
Drilling beneath the shallow silver mineralisation is revealing a broader polymetallic system, adding another dimension to the project. - Clear Pathway to a Maiden JORC Resource
Drilling and geological modelling are progressing towards a maiden JORC - Mineral Resource targeted for Q4 CY2026, with further assays and step-out drilling to come.
Diamond rig set up at the site of Advance’s first drill hole at the Gavilanes Project in Durango, Mexico.
- 13,500 hectares across 11 mining concessions
- Existing Foreign Estimate of 22.4Moz AgEq at 246g/t AgEq
- Previous drilling defines high grade silver mineralisation over a north-south trend of more than 700m
- High grade system remains open at depth and along strike in multiple directions
- Initial program expected to include up to 4,500m of diamond drilling across 15 to 18 holes
- First drill hole, GV-26-001, has commenced and is targeting down-dip mineralisation west of SCHN-12
- Priority targets include extensions to the main Gavilanes system, plus El Nopal, La Cruz and La Tuna
- Historic unassayed core identified for sampling as a low-cost data generation workstream
Plan view of the Gavilanes Project showing previous drill holes with down hole silver grades along with Advance’s drilling targets for the upcoming program.
Guadalupe Y Calvo Gold-Silver
Project
A transformational, district-scale gold and silver asset in the Sierra Madre Occidental, strategically located between Yoquivo and Gavilanes.
GyC hosts an NI 43-101 Foreign Estimate of 816koz AuEq (60.6Moz AgEq), including high-grade underground resources of 494koz AuEq at 5.0g/t AuEq. With historic production exceeding 2Moz gold and 31Moz silver and more than 86,000m of drilling completed, mineralisation remains open along strike and at depth, providing strong resource growth potential.
- Guadalupe y Calvo Gold-Silver Project located 300km WSW of the city of Chihuahua, Chihuahua State, Mexico
- Consists ten mining concessions totalling ~27.5km²
- Current Indicated and Inferred NI43-101 Foreign Estimate containing 60.6Moz AgEq at 198g/t AgEq
- High grade underground component of Foreign Estimate of 36.6Moz at 373g/t AgEq
- Extensive modern exploration and drilling in the region
Mapped veining at the Guadalupe y Calvo Project
- Over 190 years of mining since discovery in 1835
- 2Moz gold, 31Moz silver mined in historic production from British/North American companies pre-WWII
- Modern exploration began in early 2000s with 86,000m of core drilling by previous operators
- Recent programs have defined a 600 x 550 metre mineralised panel on the Rosario structure, with mineralisation open along strike and down dip
- Multiple vein systems beyond Rosario-Nankin area
Guadalupe y Calvo long section showing drilling with mineralisation and the La Bufa Fault that offsets the system to the sparsely drilled mineralisation to the northwest.
Myrtleford and Beaufort
Projects
Strategically located in the heart of Australia’s Victorian Goldfields, a region renowned for producing over 80Moz of gold.
- AVM to move to 100% ownership of the high-grade Myrtleford and Beaufort Gold Projects following strong drilling and gravity gold recovery results at Happy Valley
- Amended agreement secures 100% ownership for total consideration of C$4.0 million, staged over three years in shares or cash at AVM’s discretion
- Initial metallurgical testwork at Happy Valley returned excellent gravity gold recoveries of up to 96%, supporting potential low-cost processing options
- Recent drilling at Happy Valley returned further high-grade intercepts, including 1m at 22.3g/t Au, including 0.2m at 108.5g/t Au
- High-grade gold mineralisation at Happy Valley has now been shown to extend to at least 500m below surface and remains open
- Regional exploration has commenced across Myrtleford and Beaufort, including mapping and rock chip sampling of selected historic workings
- No modern drilling has been completed across the 16km Magpie-Barwidgee trend, presenting a significant opportunity to test for additional high-grade gold deposits
- Next steps include pending assays, 3D geological and structural modelling, maiden drill target generation and further drilling subject to modelling outcomes
Myrtleford and Beaufort projects are situated in the Victorian Goldfields region, host to one of the highest-grade gold deposits globally.
Visible gold intersected at depth; system extended to >500m vertically and remains open.
Myrtleford Gold Project, Victoria
Plan of the southeastern portion of the Myrtleford Project highlighting previous and new rock chip sampling over the Happy Valley Trend along with proposed drilling along a six-kilometre portion of the trend.
Strong Gold Results
Composite image of a gold-bearing laminated quartz vein (left) from AMD003, with close-up images highlighting the visible gold at 180.0 metres down hole (top right) and 180.9 metres down hole (bottom right). This interval included 1.3 metres at 305.8g/t Au.
Composite core image from AMD003 highlighting individual grades within an interval that returned 7.5 metres at 47.9g/t Au from 178.1m down hole.