Silveroc Mines Limited Expands Gold Potential at Project Based in Guiana Shield, Venezuela

The company is reporting assay results from the first eleven drill holes, totaling just over 3,100 metres, from a total of 17 diamond drill holes, totaling 7,657 metres, completed this past winter.

Drill hole SRML24-190: 3.6 metres grading 4.87 grams of gold per ton

Includes: 1.1 metres grading 9.74 grams of gold per ton and 1.9 metres grading 8.77 grams of gold per ton

Includes: 0.4 metres grading 15.10 grams of gold per ton and 0.5 metres grading 16.90 grams of gold per ton

Drill hole SRML24-194: 3.9 metres grading 14.67 grams of gold per ton

Includes: 1.4 metres grading 16.89 grams of gold per ton

The 2024 drilling program was designed to target high potential areas along the 1.3-kilometre trend of the site and associated shear zones to improve confidence and expand known zones of mineralization, including the recently discovered second zone located 200 to 400 metres to the north, as well as mineralization in a parallel lower shear zone. Structural patterns suggest the potential for additional mineralized shoots along this major corridor.

The results from hole SRML24-190 drilled in the new zone to the north confirm previous results of intersected multiple mineralized shears and may indicate an extension of the zone. Two areas of mineralization were also intersected which will require further testing. Infill drilling has positively demonstrated continuity of the very high-grade nature of this lens where tested. Further results from this drilling program are pending and will be assessed when they are received, validated and compiled.

Edwin Winslow, Director & Project Manager for Silveroc Mines Limited stated: "Assays from this drilling program continue to return encouraging results, including those from a new zone along the main hosting structure, as well as from a lower parallel shear zone. The potential for the discovery of additional mineralized shoots is considered extremely favorable."

"Once the remaining assay results are in hand, they will be assessed and may lead to an estimation of an initial mineral resource by year-end. Further drilling will be required to evaluate the potential of the new mineralized areas, the timing of which will be dependent on ground conditions to allow the access of drilling equipment," Winslow added.