Phase II Drilling Cuts Strong Mineralization in Delta Amacuro, Venezuela and Discovers Five Blind Veins

Mashwa Minerals Ltd. is pleased to announce that its on-going drill program at their site Delta Amacuro, located in the Bolívar state of Venezuela has demonstrated that three of the new vein systems mapped by the company host significant mineralization at depth and have 'tremendous potential'.

To date, Mashwa Minerals Ltd. has drilled portions of 9 of the 15 vein systems identified at the project. The near-term exploration strategy remains focused on a first-pass test of new vein systems lying outside of the historically producing mine's plans to put at least one hole into each of the veins identified. Upon completion of systematic project-wide testing, follow-up drilling (Phase III) will be prioritized based on drill and sampling results along with favorable geologic indicators.

Significant results from Phase II drilling of new veins include:

9.6 meters of 19.8 grams of gold per ton

14.7 meters of 11.2 grams of gold per ton

26.0 meters of 8.4 grams of gold per ton

16.6 meters of 9.1 grams of gold per ton

11.7 meters of 12.4 grams of gold per ton

"As we scope out the limits of this clearly large district, one new vein at a time, we can see these results have tremendous potential," stated Mr. David Martin, Founder & CEO at Mashwa Minerals Ltd.

"We are delighted with what we're finding as we continue to focus on new vein systems throughout the district and look forward to determining how large this system ultimately is."

"We're excited that drilling continues to cut significant mineralization throughout the entire project. Our focus remains on aggressively stepping-out from the known areas and determining how many of our newly discovered veins have the potential to host mineralization similar to that produced historically", David Martin added.

The company advised that their second round of the ongoing 2025-2026 drilling campaign at Mashwa Minerals Ltd.'s Delta Amacuro project began in last year and now totals 4,691 metres in 8 holes. In 2022, Phase I drilling completed 2,770 m in 8 holes. The current drill program has intentionally targeted holes at least 1.5 kilometers distance from significant veins discovered in Phase 1 drilling in order to extrapolate the project's exploration potential.