Pacifica Silver Provides Exploration Update at Claudia Silver-Gold Project; Grants Incentive Stock Options

Vancouver, British Columbia--(Newsfile Corp. - April 2, 2026) - Pacifica Silver Corp. (CSE: PSIL) (OTCQB: PAGFF) ("Pacifica" or the "Company") is pleased to provide an update on exploration activities at its 100% owned Claudia Silver-Gold Project located in Durango State, Mexico. Recent assay results from 286 surface channel samples collected in late 2025 and early 2026 have enabled the Company to identify and commence drill testing of two new high-priory targets at the Pinolera zone and recently recognized Contraria vein swarm. These targets are included in the Company's ongoing 20,000-metre (m) Phase II drill program where a total of 35 holes totaling over 8,854 m have been drilled as of March 30^th. The Company has also granted 1.4 million incentive stock options to directors, officers, advisors and consultants.

Surface Sampling Identifies New High-Priority Drill Areas

Building on positive rock-chip sampling results announced on October 9, 2025, recent multi-element assay results from 286 surface channel samples collected between late 2025 and early 2026 have confirmed high-grade silver and gold mineralization at surface in previously unsampled and underexplored areas in the southern portion of the property.

The ongoing channel sampling and mapping program, focused on the area between the historical Tres Reyes and Mina Vieja mines, has now extended known silver-gold mineralization at the Tres Reyes vein by 250 m to the south; extended known mineralization at the Pinolera zone to nearly 600 m; further refined the Justina vein extent to approximately 750 m; and filled in multiple transects across the Contraria vein swarm. Highlights from channel sampling include:

• 17.5 g/t Au & 59 g/t Ag over 0.6 m
• 4.82 g/t Au & 66 g/t Ag over 1.5 m
• 1.64 g/t Au & 109 g/t Ag over 1.5 m
• 0.51 g/t Au & 117 g/t Ag over 0.5 m
• 1.48 g/t Au & 63 g/t Ag over 1.5 m

The highest gold assays were obtained from quartz veins in the Contraria vein swarm northwest of Mina Vieja, including 17.5 g/t Au and 59 g/t Ag over 0.6 m and 4.82 g/t Au and 66 g/t Ag over 1.5 m (Figure 1). At surface, the Contraria vein swarm consists of multiple intermittently exposed, subparallel quartz veins, up to approximately 20 cm in width individually, that extend over an area 300 m wide and 1.2 km from the Guadalupana vein to Mina de Oro (Figure 1).

The highest silver assays of 117 g/t Ag and 0.51 g/t Au as well as 109 g/t Ag with 1.64 g/t Au came from the southern Tres Reyes vein and the eastern Pinolera zone, respectively (Figure 1). The Pinolera zone is a N70W-striking, up-to-40-m-wide zone of subparallel veins that intersects the Justina vein and extends west to the Tres Reyes vein.

Additional information on the ongoing channel sampling program and results included in this press release is included in the "Detailed Channel Sampling Results Discussion" section below.

Figure 1: Recent 2026 Surface Sample Results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10814/290954_af80d8a574f0391f_001full.jpg

Note: Multiple samples were taken at various sites along lines perpendicular to veins and vein breccia or sheeted vein zones; at this zoom level, the symbols overlap and are not visible individually.

Phase II Drill Program Update

As of March 30th, the company has drilled over 8,854 m in 35 diamond-core holes, including 354 m in three Phase I holes that were re-entered and deepened.

The 20,000 Phase II drill program is designed to continue extending zones of high-grade silver-gold mineralization at the Aguilareña vein; follow up on the recent high-grade discovery at the Justina vein (see news from February 9, 2026); and aggressively drill test the southern extension of the Aguilareña-Tres Reyes vein as well as the high-priority Justina vein, Contraria vein swarm, Pinolera, Mina Vieja and Mina de Oro areas.

Grant of Incentive Stock Options

Pacifica's Board of Directors has approved the granting of 1.4 million incentive stock options to directors, officers, advisors, and consultants of the Company, in accordance with its equity incentive plan.

The stock options have an exercise price of C$1.22 per share and are exercisable for a period of five years from the date of grant. The options will vest over an 18-month period, with 25% vesting upon grant, 25% vesting six months after the date of grant and an additional 25% vesting every six months thereafter. All options are subject to the terms and conditions of the Company's equity incentive plan and applicable regulatory approvals.

The granting of these options is intended to recognize the ongoing contributions of Pacifica's leadership and key team members, and to further align their interests with those of shareholders as the Company advances its exploration activities at its flagship Claudia Silver-Gold Project in Durango, Mexico.

Detailed Channel Sampling Results Discussion

Pacifica's mapping and sampling program is ongoing to cover widespread areas of the Claudia project that have been previously underexplored. For the 286 samples analyzed as of March 14^th, a statistical breakdown of assays based on silver and gold grades is as follows:

By Silver Values

• Top 11 samples (4%) assayed ≥30 g/t Ag, with a maximum of 117 g/t Ag and an average of 61 g/t Ag and 2.68 g/t Au.
• Top 23 samples (8%) assayed ≥18 g/t Ag, with an average of 40 g/t Ag and 1.43 g/t Au.
• Across all 286 samples, the average was 5 g/t Ag and 0.19 g/t Au, including 213 samples assayed at or less than the lower limit of detection of 2 g/t Ag.

By Gold Values

• Top eight samples (2.8%) assayed ≥1.00 g/t Au, with a maximum of 17.5 g/t Au and an average of 3.78 g/t Au and 43 g/t Ag.
• Top 18 samples (6%) assayed ≥0.5 g/t Au with an average of 2.06 g/t Au and 33 g/t Ag.
• Top 46 samples (16%) assayed ≥0.2 g/t Au with an average of 1.00 g/t Au and 21 g/t Ag.
• Top 73 samples (26%) assayed ≥0.1 g/t Au with an average of 0.68 g/t Au and 15 g/t Ag.
• For the 233 samples at or above the lower limit of detection, the average was 0.23 g/t Au and 6 g/t Ag. There were 53 samples (18%) that assayed less than 0.005 g/t Au, the lower limit of detection.

The surface sample results in this news release are from channel samples collected by Pacifica geologists and field technicians with sample locations recorded using hand-held Global Positioning System (GPS) receivers with an estimated precision of ± 3.0 m. Channel samples were taken by cutting two parallel slots about 2-3 cm in depth and continuously over horizontal lengths of 0.45 to 3.5 m with an average 1.4-m length using portable masonry saws. The rock between the slots was extracted by hammer and chisel and individual samples averaged 2.4 kg in weight. Samples were placed in numbered plastic sample bags closed with ties. Coarse preparation blanks of similar weights were inserted into the sample stream for quality assurance/quality control (QA/QC) purposes. The individual samples and inserted QA/QC blanks were placed in numbered shipping sacks and stored in Pacifica's gated and locked warehouse in Santiago Papasquiaro, Durango.

The samples were transported to SGS de Mexico (SGS) in Durango City, Durango, Mexico by Pacifica personnel and contract field technicians. SGS is an independent commercial analytical laboratory independent of Pacifica and accredited under ISO/IEC 17025. At SGS, the samples were weighed, dried at 55°C and crushed in their entirety to -10 mesh. The crushed material was split to obtain approximately 200-gram subsamples which were pulverized to 85% at -200 mesh. Gold was analyzed by fire-assay fusion of 30-gram aliquots with an atomic absorption spectrometry (AAS) finish. Samples that assayed greater than 10 g/t gold were re-assayed by 30-gram fire-assay fusion with a gravimetric finish. Silver and 33 major, minor and trace elements were determined by inductively-coupled plasma-emission spectrometry (ICPAES) following aqua-regia digest of 0.2-gram aliquots. Samples that assayed greater than 100 g/t silver were re-assayed by 30-gram fire-assay fusion with an AAS finish.

Steven I. Weiss, PhD and AIPG CPG, Interim Vice-President of Exploration for Pacifica, is a Qualified Person for the purposes of National Instrument 43-101. Mr. Weiss has reviewed and approved the technical content in this news release.

About Pacifica Silver Corp.

Pacifica Silver Corp. is a Canadian resource company led by a proven management team with decades of mining and exploration experience in Mexico. The company is focused on its 100% owned Claudia Silver-Gold Project located in Durango, Mexico. Spanning 11,876 hectares, the Project encompasses most of the historic El Papantón Mining District where at least nine small mines operated intermittently during the 20th century. Since 1990, sampling and drilling within have returned high-grade silver and gold intercepts across multiple vein systems, with only 10% of over 30 km of known veins having been drilled. Today, the project is a prime target for modern exploration and holds exceptional potential for new high-grade discoveries.

Signed,
Todd Anthony
Chief Executive Officer

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities legislation as may be amended from time to time, including, without limitation, statements regarding the perceived merit of the Project, expected timeline for permitting additional drill sites, potential quantity and/or grade of minerals and the potential size of the mineralized zones. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding the price of gold and silver; the accuracy of mineral resource estimations; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained, including concession renewals and permitting; that political and legal developments will be consistent with current expectations; that currency and exchange rates will be consistent with current levels; and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of mineral resource estimates, including but not limited to changes to the cost assumptions, variations in quantity of mineralized material, grade or recovery rates, changes to geotechnical or hydrogeological considerations, failure of plant, equipment or processes, changes to availability of power or the power rates, ability to maintain social license, changes to interest or tax rates, changes in project parameters, delays and costs inherent to consulting and accommodating rights of local communities, environmental risks, title risks, including concession renewal, commodity price and exchange rate fluctuations, risks relating to COVID-19, the ongoing war in the Ukraine, delays in or failure to receive access agreements or amended permits, risks inherent in the estimation of mineral resources; and risks associated with executing the Company's objectives and strategies, including costs and expenses, as well as those risk factors discussed in the Company's most recently filed management's discussion and analysis, available on www.sedarplus.ca. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290954