Mithril Silver and Gold Reports Strong September Quarter, Exploration Progress in Copalquin District, Mexico

October 30, 2025 — Melbourne, Australia and Vancouver, Canada — Mithril Silver and Gold Limited (TSXV: MSG) (ASX: MTH) reported a strong September 2025 quarter, marked by progress at its Copalquin District in Durango State, Mexico.

Two drills were active, with a third planned for Target 3. Drilling is underway at Target 5, while Target 1 drilling expands the resource and refines the 3D geological model. Mapping and sampling defined continuous mineralization stretching nine kilometers across the district's southern half and 1,300 meters vertically.

The company completed a C$11.5 million placement in July, ending the quarter with A$18.3 million cash. Mithril anticipates significant news flow as it accelerates exploration and receives pending assay results.

Exploration highlights include high-grade intercepts at Target 1, extending strike 300m west of the maiden resource, and drilling commencing at Target 5. Channel sampling at Santa Cruz mine defined a new target area (Target 6) with up to 57.8 g/t gold, 2,120 g/t silver over 0.70 m.

Mithril’s common shares qualified to trade on the OTCQB® Venture Market under the symbol MTIRF.

For further information contact:

John Skeet

Managing Director and CEO

jskeet@mithrilsilvergold.com

+61 435 766 809

NIKLI COMMUNICATIONS

Corporate Communications

liz@mithrilsilvergold.com

nicole@mithrilsilvergold.com

Source: Mithril Silver and Gold Limited