Silver47 Launches Drilling on the Eastern Extension of the Tonopah High Grade Silver District, Hughes Project, Nevada

Silver47 Exploration has commenced drilling operations at its Hughes Project near Tonopah, Nevada, marking a significant milestone in the company's exploration of the eastern extension of the historic Tonopah Mining District. The initial drilling program focuses on a fence of holes at the Ruby discovery as the company pursues the main high-grade structure in this highly prospective area.

The Hughes Project represents a compelling exploration opportunity given the historical significance of the Tonopah District, which produced 175 million ounces of silver and 1.86 million ounces of gold along approximately four kilometers of mineralized trend. Silver47's ground covers a potential 4.2-kilometer extension of this prolific system, effectively doubling the known strike length of one of Nevada's most renowned precious metals districts.

CEO Galen McNamara characterized 2026 as a transformative year for the project, highlighting the dual approach of advancing the company's existing high-grade resource base while aggressively exploring the eastern extension. The company is using silver equivalent calculations based on US$20/oz silver and US$1,800/oz gold, with metallurgical recoveries of 90% for silver and 95% for gold, indicating a sophisticated understanding of the deposit's economic potential.

This drilling campaign positions Silver47 at the forefront of efforts to revitalize and expand one of America's historic precious metals districts. The combination of proven mineralization in the established Tonopah District and the untested potential of the eastern extension creates a rare opportunity in the Nevada mining landscape, particularly given the current favorable precious metals market conditions and renewed interest in domestic silver production.