USA: AMCOF
TSX-V: AMCO
GOLD: —
SILVER: —
A 22,700-acre district-scale silver project in Nevada with a historical resource of 36.1 million ounces silver equivalent, a 782,769-ounce historic silver stockpile on surface, and a clear path to resource expansion drilling.
Located in Pershing County, Nevada, approximately 17 miles north-northwest of Lovelock. Accessible by maintained roads from Interstate 80, with proximity to the Union Pacific rail corridor, grid power, and established water infrastructure.
Americore holds options on 100% of two fee simple sections (surface and mineral rights) and 83 unpatented lode mining claims, plus a lease position spanning 21 sections. An additional 73 staked claims bring the total land package to approximately 22,700 acres.
Trinity sits in one of Nevada’s most productive silver corridors, in the same county as Coeur Mining’s Rochester mine — which produced 15.4 million ounces of silver in 2025 following a major expansion. Results at adjacent properties are not necessarily indicative of results on the Trinity property.
Production and resource figures for adjacent properties are sourced from public disclosures and are not indicative of results on the Trinity property.
Trinity is a former producer. US Borax mined silver here in the late 1980s when prices were below US$7/oz, demonstrating the presence of significant silver mineralization. That track record, plus a 353-hole drill database, gives Americore a head start most explorers don’t have.
US Borax and Santa Fe Pacific Minerals explored the Trinity Range with extensive drilling, identifying a structurally controlled silver-lead-zinc system hosted in rhyolite.
US Borax and a joint venture partner operated an open-pit heap leach mine, mining 1,085,790 tons at an average grade of 6.32 oz/t silver and recovering approximately 5 million ounces of silver. Operations were suspended due to low silver prices — a result of market conditions at the time, not a reflection of deposit geology.
Processing terminated. A stockpile of 428,634 tons containing an estimated 782,769 ounces of silver was left on surface. It remains on the property as a potential future processing consideration, subject to additional metallurgical study and economic analysis.
AuEx Ventures conducted modern exploration including a 20-hole RC drill program. In 2012, SRK Consulting prepared an NI 43-101 inferred resource estimate of 36.1 Moz silver equivalent.
Newmont fulfilled all closure obligations. Nevada released the reclamation bond — no legacy environmental liabilities remain.
Americore assembled the 22,700-acre land package, completed targeting surveys, and is advancing an updated Mineral Resource Estimate and NI 43-101 Technical Report, alongside planning for a 2026–2027 drilling program.
Based on drill core and open-pit exposures examined during SRK’s June 2026 site visit, SRK’s preliminary geological interpretation is that Trinity represents a fault-controlled, low-sulfidation epithermal silver system, with mineralization occurring predominantly through replacement and impregnation of intensely bleached rhyolite within a fault damage zone. SRK further noted that Trinity appears to represent a fault-hosted, disseminated-to-breccia-hosted silver system with lead and zinc.
Silver mineralization is controlled by a network of deep fault zones that channelled metal-bearing fluids through porous volcanic rock (rhyolite), concentrating silver into predictable, drillable corridors. The system’s alteration footprint extends 1.6 miles beyond the main mineralized area — far larger than the area drilled to date.
The deposit remains open at depth and along strike, meaning drilling has not yet found the edges. SRK identified five fault corridors in the resource model, each a defined drilling target. The existing open pit sits on the strongest — the Trinity Fault zone — while peripheral zones remain underexplored.
The deposit has two layers: a shallow oxide zone where silver can be extracted cheaply through heap leaching, and a deeper sulfide zone containing silver, lead, and zinc that would require conventional milling. Two distinct mineralization styles, each with different processing considerations.
Fault-controlled, low-sulfidation epithermal silver system. Mineralization occurs predominantly through replacement and impregnation of intensely bleached rhyolite within a fault damage zone. Also interpreted as a fault-hosted, disseminated-to-breccia-hosted silver system with lead and zinc.
Rhyolite porphyry, aphanitic rhyolite, and volcaniclastic rocks. Alteration halo extends 1.6 miles beyond the main mineralized area.
Five fault corridors mapped by SRK. A prominent, steeply dipping structural zone confirmed along the northeastern pit wall during the June 2026 site visit, traceable vertically across several benches of the existing pit.
Oxide: silver-dominant, heap-leachable, lower cost. Sulfide: polymetallic, higher value per tonne, requires flotation.
Open at depth and along strike. Drill spacing widens from 100 ft in the core zone to 350 ft at the margins — significant room to grow.
Estimated by SRK Consulting (U.S.) Inc., effective December 18, 2012, in compliance with NI 43-101 standards. Based on 353 drill holes totaling 159,261 feet. All material classified as Inferred. Historical estimates are not treated as current resources by the Company.
| Category | Cut-off (g/t silver) | Tonnes (000s) | Silver Grade (g/t) | Contained Silver (oz) |
|---|---|---|---|---|
| Inferred | 17.1 | 5,833 | 38.87 | 7,287,000 |
| Category | Cut-off (Silver Eq. g/t) | Tonnes (000s) | Silver (g/t) | Lead (%) | Zinc (%) | Silver Eq. (g/t) | Contained Silver Eq. (oz) |
|---|---|---|---|---|---|---|---|
| Inferred | 27.4 | 17,953 | 36.68 | 0.217 | 0.354 | 50.05 | 28,837,000 |
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves. Resources are stated as contained within a single potentially economic open pit using a 0.5 oz/t silver cut-off for oxide and a 0.8 oz/t silver equivalent cut-off for sulfide. Pit optimization used silver, lead, and zinc prices of US$31.08/oz, US$0.94/lb, and US$0.88/lb respectively. A 4% NSR royalty was applied. Oxide recovery of 68.6% silver; sulfide recovery of 85% for silver, lead, and zinc. Qualified Persons: J.B. Pennington, M.Sc., C.P.G. (SRK) and W.M. Martin, M.Sc., C.P.G. (JBR). Historical estimates are not treated as current resources by Americore.
A stockpile from 1987–89 mining remains on the property, containing an estimated 782,769 ounces of silver across oxide and sulfide fractions.
Wide, consistently mineralized intervals along the Trinity Fault zone — geometry consistent with the style typical of bulk-tonnage, open-pit deposits. Higher-grade internal zones offer upside for selective mining.
A longitudinal section through the pit highlights the interpretation that many of the historical holes are too shallow. Two key intercepts — both terminated at the bottom of hole — confirm the mineralized system extends well below the depth of existing drilling, representing a significant untested target.
Long Section Looking NW — silver grade colour zonation. The circled area marks holes stopped in significant mineralization, confirming the system remains open to depth.
These five core holes were drilled by US Borax in 1985 and were never included in previously reported historical resource estimates. Core drilling within and adjacent to the historical pit confirms mineralization continuity and high-grade zones at depth.
| Hole ID | From (ft) | To (ft) | Interval (ft) | Silver (g/t) |
|---|---|---|---|---|
| SC-1 | 8.5 | 330.0 | 321.5 | 65.86 |
| incl | 160.0 | 220.0 | 65.0 | 220.69 |
| SC-2 | 125.0 | 285.0 | 160.0 | 70.26 |
| incl | 130.0 | 175.0 | 45.0 | 174.32 |
| SC-3 | 9.0 | 135.0 | 126.0 | 33.48 |
| SC-4 | 197.0 | 406.5 | 209.5 | 145.98 |
| incl | 244.0 | 397.0 | 153.0 | 185.94 |
| SC-5 | 8.0 | 254.5 | 246.5 | 97.52 |
| incl | 84.0 | 154.0 | 70.0 | 128.26 |
| and | 205.5 | 229.0 | 23.5 | 162.69 |
SC-2 upper portion (0–125 ft) was mined out from the historical pit. True widths are estimated to be 80–95% of drilled intervals based on fault dip geometry. All results from historical drilling programs.
Interpretation of a 350 line-km drone magnetometer survey and a property-wide hyperspectral study has identified additional targets for potential expansion of the mineralization at the Trinity Silver Project.
Data from the 350 line-km drone survey was interpreted by Campbell and Walker Geophysics. Principal anomalous features appear to lie in Tertiary volcanics. A notable zone of structural complexity has been identified east of the current pit limits. An Orientation Entropy anomaly is coincident with an historic grab sample that ran 1690 g/t Ag and 4.33 g/t Au. Additional anomalies suggest further targets immediately southwest of the current pit, as well as flanking to the east.
Apollo Mapping Inc. acquired 30 cm Maxar Imagery and 3.7-meter SWIR Maxar Imagery over the full property. Dr. Neil Pendock interpreted a package of 12 alteration patterns. Newly identified areas, especially to the SE of the Trinity pit, appear to be prime targets and appear to coincide with a significant deep anomaly from an historic IP survey. The strongest exploration targets lie along a mapped 6-km structural corridor.
The technical information in this section has been reviewed and approved by Chris M. Healey, P.Geo., Chief Geologist and Director of Americore Resources Corp., a Qualified Person as defined under NI 43-101.
SRK geologist Casey M. Hetman, M.Sc., P.Geo., completed a two-day site visit to the Trinity Silver Mine on June 26–27, 2026. The program included examination of historical HQ drill core stored in Reno (ten drillholes), geological observations within and around the historical open pit, and review of adjacent historical stockpile and tailings areas.
Trinity Open Pit Silver Mine. Nevada (facing North). June 2026
Mineralization observed in historical HQ core is hosted predominantly within massive to fragmental rhyolite and includes fine disseminated pyrite together with probable silver-bearing sulphides. Less common irregular veinlets and veins containing pyrite and probable silver-bearing sulphide minerals were also observed.
SRK identified a prominent, steeply dipping structural zone exposed along the northeastern pit wall. The mineralized structural zone can be traced vertically across several benches of the existing pit and is characterized by increased oxidation, weathering, and structural disruption relative to the surrounding rhyolite. The orientation and geometry are consistent with the structurally controlled mineralization described in the historical 2013 NI 43-101 Technical Report.
Three check samples were collected from selected historical drill-core intervals and an additional sample from strongly oxidized and weathered breccia material within an apparent stockpile. Results received in September 2026 included 477 g/t silver by fire assay and 509 g/t silver by ICP-AES from TSD-009, versus 466 g/t historically, and 287 g/t silver by fire assay and 301 g/t silver by ICP-AES from TSD-002, versus 161 g/t historically. The limited confirmatory program is not representative of the entire mineralized system or historic stockpiles.
SRK noted that Trinity appears to represent a fault-hosted, disseminated-to-breccia-hosted silver system with lead and zinc. The Company and SRK are working to refine the geological model and evaluate the potential for future resource expansion.
Current 3D Geology Model & Open Pit Surface Outline: 2013 Study
SRK Drill core Check Samples Collected: 3 Samples
The technical information in this section has been reviewed and approved by Chris M. Healey, P.Geo., Chief Geologist and Director of Americore Resources Corp., a Qualified Person as defined under NI 43-101.
Following SRK’s June 2026 site visit, Americore is advancing a staged work program toward an updated Mineral Resource Estimate and NI 43-101 Technical Report for the Trinity Silver Project, alongside planning for a 2026–2027 drilling program.
Compilation and validation of historical databases and reports. Review of geology, metallurgy, mining, geotechnical, processing, environmental, and infrastructure information. Identification of material data gaps.
Updating the geological and resource models and Mineral Resource Estimate. Establishing current metal prices, recoveries, costs, and other technical assumptions. Undertaking conceptual pit optimization to demonstrate reasonable prospects for eventual economic extraction (RPEEE).
Preparation of an updated NI 43-101 Technical Report supporting the updated Mineral Resource Estimate.
SRK has recommended that the proposed 2026–2027 drilling program be designed to support the potential expansion of the Trinity Mineral Resource and provide sufficient geological and analytical information to potentially upgrade portions of the currently Inferred Mineral Resource to the Indicated category, where supported by drilling results and the Qualified Person’s assessment. The proposed program is also expected to address technical data gaps, including the collection of representative HQ core from both oxide and sulphide mineralization for metallurgical characterization and testwork.
The technical information in this section has been reviewed and approved by Chris M. Healey, P.Geo., Chief Geologist and Director of Americore Resources Corp., a Qualified Person as defined under NI 43-101.
SRK geologist Casey M. Hetman, M.Sc., P.Geo., completed a two-day site visit to the Trinity Silver Mine on June 26–27, 2026. The program included examination of historical HQ drill core stored in Reno (ten drillholes), geological observations within and around the historical open pit, and review of adjacent historical stockpile and tailings areas.
Trinity Open Pit Silver Mine. Nevada (facing North). June 2026
Mineralization observed in historical HQ core is hosted predominantly within massive to fragmental rhyolite and includes fine disseminated pyrite together with probable silver-bearing sulphides. Less common irregular veinlets and veins containing pyrite and probable silver-bearing sulphide minerals were also observed.
SRK identified a prominent, steeply dipping structural zone exposed along the northeastern pit wall. The mineralized structural zone can be traced vertically across several benches of the existing pit and is characterized by increased oxidation, weathering, and structural disruption relative to the surrounding rhyolite. The orientation and geometry are consistent with the structurally controlled mineralization described in the historical 2013 NI 43-101 Technical Report.
Three check samples were collected from historical drill core intervals displaying conspicuous pyrite and black silver sulphide mineralization. An additional sample was collected from strongly oxidized and weathered breccia material within the stockpile adjacent to the historical open pit. All four samples were submitted to ALS Canada Ltd. in North Vancouver, British Columbia, for independent analysis. Results received in September 2026 confirmed high-grade silver mineralization: sample 158852 from TSD-009 returned 477 g/t silver by fire assay and 509 g/t silver by ICP-AES (vs. original 466 g/t); sample 158853 from TSD-002 returned 287 g/t silver by fire assay and 301 g/t silver by ICP-AES (vs. original 161 g/t). All three core samples returned silver values equal to or higher than their corresponding historical assays.
SRK noted that Trinity appears to represent a fault-hosted, disseminated-to-breccia-hosted silver system with lead and zinc. The Company and SRK are working to refine the geological model and evaluate the potential for future resource expansion.
Current 3D Geology Model & Open Pit Surface Outline: 2013 Study
SRK Drill core Check Samples Collected: 3 Samples
The technical information in this section has been reviewed and approved by Chris M. Healey, P.Geo., Chief Geologist and Director of Americore Resources Corp., a Qualified Person as defined under NI 43-101.
Americore completed a confirmatory due-diligence sampling program at the Trinity Silver Project in Pershing County, Nevada, as a preparatory step toward an updated Mineral Resource Estimate and NI 43-101 Technical Report. Three samples were collected from selected five-foot intervals of historic drill core from the 2006 drilling program completed by Renaissance Gold Inc. Results confirmed high-grade silver mineralization, with all three core samples returning silver values equal to or higher than their corresponding historical assays.
| Sample ID | Drill Hole | Ag Fire Assay (g/t) | Ag ICP-AES (g/t) | Original Ag Assay (g/t) | Pb (%) | Zn (%) |
|---|---|---|---|---|---|---|
| 158852 | TSD-009 | 477 | 509 | 466 | — | — |
| 158853 | TSD-002 | 287 | 301 | 161 | 0.795 | 1.565 |
New lead and zinc analyses confirmed polymetallic mineralization within the selected core intervals. Sample 158853 from TSD-002 returned 0.795% lead and 1.565% zinc, consistent with the sulfide silver-lead-zinc system described in the historical resource estimate.
Americore intends to appoint a qualified technical contractor to complete an updated Mineral Resource Estimate and prepare a supporting NI 43-101 Technical Report for the Trinity Silver Project. The Company currently anticipates completing this work during Q4 2026.
The sampling program was limited and confirmatory in nature. The results should not be considered representative of the entire mineralized system or the historic stockpiles. Silver analysis completed using ALS method Ag-GRA22 (50-gram fire assay, gravimetric finish). Multi-element analysis completed using ALS method ME-ICPORE (oxidizing digestion, ICP-AES finish). The technical information in this section has been reviewed and approved by Chris M. Healey, P.Geo., Chief Geologist and Director of Americore Resources Corp., a Qualified Person as defined under NI 43-101.
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