Toronto – October 12, 2026 -- Highlander Silver Corp. (TSX, NYSE American: HSLV) reported that a geophysical study of its Corani Silver Project in Peru shows a mineral system far more extensive than historical drilling coverage, with untested potential to the west and south beneath shallow post-mineral cover. The company also reported an unaudited cash balance of about US$100 million and no debt.
Surveys cover over 90 km of IP-resistivity and 600 km of airborne magnetics
The study integrates historical datasets with the first airborne magnetic survey at Corani and more extensive induced polarization-resistivity surveys than previously undertaken. Highlander completed over 90 km of IP-resistivity and over 600 km of airborne magnetic surveys, and integrated the results with lithology, alteration and resource models, mapping and core logging data.
Magnetic lineament analysis identified a network of north-south and northwest-trending structures that the company interprets as first-order controls on mineralization. Highlander says the results support Corani as a large-scale intermediate sulphidation epithermal system extending well beyond the current resource footprint.
Corani West emerges as a new high-priority target under post-mineral cover
Corani West is a newly generated target with a large coincident zone of chargeability, resistivity and magnetic susceptibility consistent with the Corani deposit. It lies concealed under shallow post-mineral cover along a major northwest-trending structure.
Historical holes partially test Corani East Extension and Corani South
Corani East Extension is the interpreted continuation of the higher-grade Corani East zone, south of an eroded block. Historical drilling at the north end of the anomaly partially tested it, including 42 m at 47.9 g/t Ag from 4 m in hole DDH-C119A.
Corani South shows widespread alteration, veining, silicification and hydrothermal brecciation at the intersection of major north-south and northwest-trending structures. Historical hole DDH-C52 returned 14 m at 11.7 g/t Au and 48.9 g/t Ag from 32 m. The true width of the mineralized zones is not currently known.
Four drill rigs are active, with first assays due in July
Highlander's first exploration drilling program at Corani in over a decade is underway with four rigs active. First assays are expected in July.
President and CEO Daniel Earle said the company has been active across its portfolio since closing the Bear Creek acquisition in late February. He said strong cash generation and improving performance at the Mercedes operation are offsetting spending.
Independent review validated geophysical and historical assay data
Independent geophysical consultant Dr. Hernan Ugalde, P.Geo., reviewed and approved the drone magnetic and IP-resistivity datasets before their use in modelling and target generation. Highlander independently validated assay data for the two historical holes against original laboratory certificates, drill core stored in Juliaca, Peru, and the digital core photograph archive. Bear Creek's historical samples were analyzed by ALS Chemex in Lima, Peru.