OUTCROP EXPANDS AGUILAR VEIN SYSTEM WITH NEW HIGH-GRADE SILVER INTERCEPTS

Drilling of northern extension intercepts 0.80 m (ETW) of 1,405 g/t AgEq (1,140 g/t Ag & 3.0 g/t Au), including 0.23 m of 2,820 g/t AgEq (2,264 g/t Ag & 6.3 g/t Au)

VANCOUVER, BC, June 3, 2026 /CNW/ - Outcrop Silver & Gold Corporation (TSX: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce assay results from recent drilling results at the Aguilar target, further improving the geological understanding of one of the most advanced vein systems within the Company's Santa Ana Project in Colombia.

Figure 1. Plan view of the Aguilar target showing the drill holes reported in this release (Table 1). Coordinates are in the UTM system, zone 18N, and WGS84 projection. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 2. Longitudinal section from the Aguilar vein showing the drilling pierce points. The contours represent the interpolation of grade (AgEq g/t) multiplied by estimated true width (metres) using the Spline algorithm in QGIS. Pierce points and channel samples show grade as AgEq g/t. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 3. Geological cross-section A, B and C showing the Aguilar vein system. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 3. Geological cross-section A, B and C showing the Aguilar vein system. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 3. Geological cross-section A, B and C showing the Aguilar vein system. (CNW Group/Outcrop Silver & Gold Corporation)

Silver Equivalency (CNW Group/Outcrop Silver & Gold Corporation)

Drilling confirmed the continuity of both the principal Aguilar and Aguilar N structures and returned high-grade intercepts from two additional mineralized structures, Aguilar NEW and Aguilar NEE, in the northern sector of the target. Locally mineralized splay structures were also intersected during drilling, providing additional information on the structural controls on silver mineralization. Drilling completed in the southern extension successfully confirmed the continuity of the principal Aguilar structure, although no significant mineralized intercepts were returned from the step-out holes.

Highlights

• Aguilar NEW returned multiple high-grade intercepts, including 0.60 metres ("m") estimated true width ("ETW") grading 1,660 g/t silver-equivalent¹ ("AgEq") in DH621, 0.80 m ETW grading 1,405 g/t AgEq in DH604, and 0.76 m ETW grading 1,157 g/t AgEq in DH568.
• Aguilar N returned high-grade intercepts including 0.49 m ETW grading 1,374 g/t AgEq in DH596 and 1.27 m ETW grading 716 g/t AgEq in DH592, supporting continuity of mineralization along the northern sector of the target.
• Drilling intersected several mineralized secondary structures and splays, providing additional information on the structural controls of silver mineralization within the Aguilar system.
• Step-out drilling in the southern extension confirmed the continuity of the principal Aguilar structure, although no significant mineralized intercepts were returned.

"These results continue to strengthen our confidence in the scale and continuity of the Aguilar system", commented Rob Bruggeman, President and CEO.  "Aguilar NEW and Aguilar NEE appear to represent newly recognized vein structures that warrant continued follow-up exploration and, as commonly observed in district-scale vein systems, could potentially support the delineation of additional mineral resource blocks in the future, particularly within these blind mineralized zones. The Aguilar vein system has now been drilled for 1.6 km along strike and has identified additional mineralized structures in the northern part of the target. The development of Aguilar NEW and Aguilar NEE, together with multiple mineralized secondary structures, highlights the growing structural footprint of Aguilar and further supports its importance within the Santa Ana district."

Hole ID	From (m)	To (m)	Interval (m)	Estimated True Width (m)	Ag  (g/t)	Au (g/t)	AgEq^1 (g/t)	Vein
DH568	46.55	47.8	1.25	0.76	905	2.85	1157	Aguilar NEW
Including	46.99	47.42	0.43	0.26	2608	8.16	3328	Aguilar NEW
and	142.82	144.27	1.45	0.85	345	0.79	414	Aguilar N
Including	142.82	143.12	0.30	0.18	1370	2.88	1624	Aguilar N
DH569	Weakly Mineralized							Aguilar
DH572	Weakly Mineralized							Aguilar
DH574	140.08	140.41	0.33	0.29	158	0.42	195	Splay
and	161	161.3	0.30	0.28	Weakly Mineralized			Aguilar N
and	227.58	227.9	0.32	0.28	577	3.20	859	Splay
and	239.29	240.89	1.60	1.47	321	1.58	461	Aguilar
DH576	211.17	211.8	0.63	0.53	91	1.99	266	Aguilar
DH578	Weakly Mineralized							Aguilar
DH579	Weakly Mineralized							Aguilar
DH581	73.05	73.38	0.33	0.19	345	0.75	412	Aguilar NEW
and	226.17	227.18	1.01	0.70	219	1.58	359	Aguilar N
and	249.73	250.03	0.30	0.21	124	0.82	196	Splay
and	266.76	267.16	0.40	0.36	284	2.52	507	Splay
and	277.51	278.12	0.61	0.49	288	3.55	601	Aguilar
DH582	Weakly Mineralized							Aguilar
DH584	Weakly Mineralized							Aguilar
DH586	80.09	80.52	0.43	0.32	Weakly Mineralized			Aguilar NEW
and	221.95	222.95	1.00	0.51	514	6.74	1109	Splay
Including	222.25	222.61	0.36	0.18	1424	18.69	3073	Splay
DH592	56.6	56.98	0.38	0.23	Weakly Mineralized			Aguilar NEW
and	168.86	171.25	2.39	1.27	497	2.48	716	Aguilar N
Including	170.77	171.25	0.48	0.26	1400	5.38	1875	Aguilar N
and	224.61	225.05	0.44	0.27	Weakly Mineralized			Aguilar
DH596	60.6	62.7	2.10	0.86	302	1.31	417	Aguilar NEW
Including	61.23	61.7	0.47	0.19	1336	5.81	1849	Aguilar NEW
and	180.82	182	1.18	0.49	845	5.99	1374	Aguilar N
Including	180.82	181.19	0.37	0.15	2080	15.82	3476	Aguilar N
DH602	14.4	15.38	0.98	0.32	253	1.06	346	Splay
and	56.35	57.75	1.40	0.44	507	2.31	710	Aguilar NEW
Including	56.86	57.45	0.59	0.19	1190	5.02	1633	Aguilar NEW
and	63.4	64.7	1.30	0.40	205	1.00	293	Splay
and	188.03	188.86	0.83	0.30	235	2.14	423	Splay
DH604	40.72	41.78	1.06	0.80	1140	3.00	1405	Aguilar NEW
Including	41.12	41.43	0.31	0.23	2264	6.31	2820	Aguilar NEW
DH608	52.98	53.35	0.37	0.27	1008	3.62	1328	Aguilar NEE
and	117.11	118.13	1.02	0.58	373	1.41	498	Aguilar NEW
Including	52.98	53.35	0.37	0.21	1008	3.62	1328	Aguilar NEW
and	289	289.45	0.45	0.18	168	0.47	209	Splay
DH610	93.82	94.36	0.54	0.37	122	0.72	185	Aguilar NEW
and	240.26	240.56	0.30	0.18	701	1.61	843	Aguilar N
DH614	Weakly Mineralized							Aguilar NEE
DH618	40.94	41.31	0.37	0.25	300	1.24	409	Splay
and	88.32	88.99	0.67	0.40	767	5.02	1210	Aguilar NEW
and	200.42	202.38	1.96	1.04	200	0.91	281	Aguilar N
DH621	88.21	89.15	0.94	0.60	1105	6.29	1660	Aguilar NEW
Including	88.21	88.53	0.32	0.20	1487	8.16	2207	Aguilar NEW
and	192.08	192.7	0.62	0.33	240	1.50	372	Aguilar N
DH623	Weakly Mineralized							Aguilar NEW
DH626	81.35	81.83	0.48	0.46	424	2.06	605	Aguilar NEW
and	151.86	152.53	0.67	0.61	248	0.66	306	Splay

Table 1. Drill hole assay results reported in this release. Weakly Mineralized means intercepts below 100 g/t AgEq¹

Recent drilling at Aguilar was primarily focused on the northern sector of the target, near the interpreted junction with the Jiménez trend. The new drilling continues to improve the understanding of the structural architecture of the system. In addition to confirming the continuity of the principal Aguilar and Aguilar N structures, drilling intersected multiple mineralized intervals within the newly recognized Aguilar NEW and Aguilar NEE structures, both of which have now been confirmed by several drill holes.

With the incorporation of these new drill results, the principal Aguilar structure has now been traced continuously for approximately 1.6 kilometres along strike. The results further support the interpretation of Aguilar as a multi-vein mineralized system and demonstrate continuity over one of the longest mineralized trends currently defined within the Santa Ana Project. Drilling completed in the southern extension successfully confirmed the continuity of the principal Aguilar structure, although no significant mineralized intercepts were returned from the step-out holes. These intercepts will be incorporated into the Company's geological interpretations and the next mineral resource estimate update, which is currently underway.

The Aguilar target continues to rank among the most important mineralized systems identified within the Santa Ana Project. Recent drilling has strengthened confidence in the continuity of the principal structures while highlighting the emergence of additional mineralized zones that contribute to the evolving understanding of the district-scale structural framework. The results will be incorporated into ongoing geological modelling and resource evaluation programs as Outcrop continues to advance the Santa Ana Project.

Hole ID	Hole Code	Easting (m)	Northing (m)	Elevation (m)	Depth (m)	Azimuth (º)	Dip (º)
DH568	SAAG26DH568	504024.993	561574.989	919.185	233.17	98	-72
DH569	SAAG26DH569	503255.208	560758.077	1062.332	100.27	120	-50
DH572	SAAG26DH572	503188.094	560860.326	1055.752	185.01	143	-50
DH574	SAAG26DH574	503885.182	561526.080	934.490	258.16	142	-54
DH576	SAAG26DH576	503189.564	560859.826	1055.617	232.56	183	-56
DH578	SAAG26DH578	503136.010	560756.844	1061.980	165.99	155	-45
DH579	SAAG26DH579	502993.475	560562.575	1102.678	300.03	130	-53
DH581	SAAG26DH581	503885.023	561526.283	934.287	294.15	142	-69
DH582	SAAG26DH582	503134.929	560756.828	1061.991	199.94	182	-45
DH585	SAAG26DH585	503150.067	560513.602	1115.596	215.58	140	-62
DH586	SAAG26DH586	503885.276	561526.975	934.344	325.52	110	-77
DH589	SAAG26DH589	503148.047	560516.946	1116.575	170.99	200	-68
DH591	SAAG26DH591	502992.978	560562.710	1102.870	262.03	150	-52
DH592	SAAG26DH592	504024.993	561574.989	919.185	236.17	73	-60
DH594	SAAG26DH594	502994.041	560563.905	1103.124	282.61	167	-54
DH596	SAAG26DH596	504025.498	561576.018	918.983	263.65	59	-75
DH597	SAAG26DH597	502994.126	560564.292	1102.741	291.99	133	-66
DH602	SAAG26DH602	504025.174	561575.871	919.088	300.85	0	-90
DH603	SAAG26DH603	502815.680	560406.745	1077.315	302.39	146	-45
DH604	SAAG26DH604	504024.780	561575.020	919.504	171.29	196	-74
DH606	SAAG26DH606	502815.605	560406.790	1077.043	224.8	146	-59
DH608	SAAG26DH608	504041.910	561623.303	899.220	300.83	59	-54
DH610	SAAG26DH610	504041.968	561623.255	898.841	255.42	62	-83
DH611	SAAG26DH611	502815.605	560406.967	1077.413	170.26	146	-78
DH614	SAAG26DH614	504041.761	561623.258	898.988	252.06	58	-70
DH615	SAAG26DH615	502813.641	560375.121	1069.424	205.09	164	-55
DH617	SAAG26DH617	502644.136	560386.055	1102.808	305.98	143	-45
DH618	SAAG26DH618	504042.206	561622.730	898.908	215.18	72	-60
DH621	SAAG26DH621	504042.108	561622.555	899.082	215.49	76	-75
DH622	SAAG26DH622	502644.025	560385.120	1102.805	305.53	158	-45
DH623	SAAG26DH623	503903.619	561554.185	938.953	131.36	83	-52
DH626	SAAG26DH626	503899.760	561553.880	939.100	179.56	136	-49

Table 2. Collar and survey table for drill holes and exploratory trenches reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection

Qualified Person

The technical information presented in this news release has been reviewed and approved by Carlos Torres, P.Geo., Vice President of Exploration for Outcrop Silver and the Qualified Person for exploration at the Santa Ana Project, as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

¹Silver Equivalent

Metal prices used for equivalent calculations were US$2,760/oz for gold, and US$32/oz for silver. Metallurgical recoveries based on Outcrop Silver's metallurgical test work are 98.5% for gold and 96.3% for silver (see news release dated June 25, 2024). The equivalency formula is as follows:

QA/QC

Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Core diameter is a mix of HTW and NTW, depending on the drill hole depth. Diamond drill core boxes were photographed, sawed, sampled, and tagged. Samples were bagged, tagged, and packaged for shipment by truck from Santa Ana's core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Canada in Ancaster, Ontario, for ICP multi-elemental analysis under code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted into the sample stream at approximately 3 control samples every 20 samples to monitor laboratory performance. A comparison of control samples and their standard deviations indicates acceptable assay accuracy and no detectable contamination. No material QA/QC issues have been identified with respect to sample collection, security, and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification.

About Santa Ana

The 100% owned Santa Ana project spans over 28,000 hectares within the Mariquita District, encompassing both titles and applications, and is recognized as the largest and highest-grade primary silver district in Colombia, with mining records dating back to 1585.

Santa Ana's maiden resource estimate, detailed in the NI 43-101 Technical Report titled "Santa Ana Property Mineral Resource Estimate," dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 1,226 thousand tonnes containing 24.2 million ounces silver equivalent1 at a grade of 614 grams per tonne and an inferred resource of 966 thousand tonnes containing 13.5 million ounces at a grade of 435 grams per tonne of silver equivalent1. The identified resources span seven major vein systems that include multiple parallel veins and mineralized shoots: Santa Ana (San Antonio, Roberto Tovar, San Juan shoots); La Porfia (La Ivana); El Dorado (El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.

The current drill campaign has extended known mineralization and tested additional target areas within the 17-kilometre-long fully permitted mineralized corridor at the Santa Ana Project. Since the start of the current campaign, drilling has confirmed mineralization in six vein systems--Aguilar, Jimenez, La Ye, Los Mangos, Guadual, and Morena--through a combination of step-out, testing, and delineation drilling. The results from these programs are being incorporated into updated geological interpretations and three-dimensional models. They will support ongoing drilling activities and the preparation of the next mineral resource update.

About Outcrop Silver

Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.

At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities that enhance shareholder value. With a deep understanding of the Colombian mining landscape and a proven track record of successful exploration, Outcrop Silver is well-positioned to transform the Santa Ana project into a significant silver producer, making a positive contribution to the local economy and setting new standards in the mining industry.

ON BEHALF OF THE BOARD OF DIRECTORS

Rob Bruggeman
Chief Executive Officer
[email protected]
www.outcropsilver.com

604-638-2545

Neither the TSX nor its Regulation Services Provider (as such term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the timing and progress of the next mineral resource estimate update, the outcome of geological modelling and resource evaluation programs,  the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.

SOURCE Outcrop Silver & Gold Corporation