Kelowna, British Columbia--(Newsfile Corp. - February 3, 2026) - Showcase Minerals Inc. (CSE: SHOW) (FSE: ZJ0) ("Showcase" or the "Company") is pleased to announce that it has entered into an option agreement to acquire a large silver property in the Slocan area of British Columbia, which is located approximately 11.5 kilometres from the town of Silverton. The property consists of three mineral claims totalling 2080.8 hectares and covers the former Comstock mine.

The earliest recorded work on the property occurred in 1898 and continued intermittently until 1920. Early workings consisted of nine adits totalling 853 metres in length along 2.1 kilometres of strike length. A mill was erected in 1897 to process Comstock ore, but was only used for two months. Production records indicate 455 tonnes of ore were mined. From this, 1,687,774 grams silver, 12,387 grams gold, 217,634 kilograms lead, and 126,657 kilograms zinc were recovered.

At the Comstock mine, mineralized quartz veins and related mineralization is hosted in a brecciated zone that is up to two metres wide. Mineralization consists of galena, sphalerite, minor tetrahedrite, and trace pyrargyrite.

The Company can earn an undivided 100% interest in the Property, subject to a 3% net smelter returns royalty, by making cash payments of $300,000 over two years and issuing Company shares with a market value of $100,000 to the vendors on each of the first and second anniversaries of the option agreement.

The Grassy Gold Project

The Company is organizing a spring drill program on the Grassy Project located north of Stewart, British Columbia and just east of the Premier Gold Mine in the prolific Golden Triangle region. The Premier Gold Mine produced over two million ounces of gold from 1918 to 1994.

The area is underlain by Hazelton Group rocks of the Lower Jurassic Betty Creek Formation and Lower to Middle Jurassic Mount Dilworth Formation overlain by the Middle Jurassic Salmon River Formation. Mineralization on the Grassy property is of an epithermal, low sulphidation type hosted in felsic pyroclastics of the Mount Dilworth Formation. Mineralization generally consists of coarse-grained pyrite, sphalerite, galena, and chalcopyrite in vuggy quartz-carbonate breccia veins. The bulk of the property's mineralization is located in four areas that have been explored in the past: Start No. 2, Bush No. 1, Lakeshore, and Rama showings.

All main mineral occurrences on the Grassy property are located within or adjacent to two main faults designated as Fault A and Fault B (see Figure 1). Fault A can be traced from the Rama showing going northwest. The fault likely continues under Bowser group sediments of Slate Mountain reappearing on the west side of Slate Mountain in the adits of the Start No. 2 showing. The presumed length of this major structure is at least 2.0 kilometres. The second major fault associated with mineralization (Fault B) likely extends from Sunshine zone going north through the X-10-U-8 Fr. showing and passing close to the Lakeshore showing. The eastern block of this structure consists mostly of quartz-lesser carbonate cemented breccia often mineralized with pyrite, chalcopyrite, galena, and sphalerite. Over the years, several trenches were completed along this structure. The orientation of breccia vein in the Bush No. 1 showing is 340/60-70 SW, which indicates the vein is part of fault B.

During the 2024 geochemical program on the Grassy Gold Project, the highest values in metals came from four grab samples collected from the Rama Vein. Assays returned gold values ranging from 12.68 to 31.9 ppm, silver values from 376 to 1,812 ppm, lead values from 0.3% to 39.89% and zinc values from 0.68% to 26.93%. Copper values in three of the samples ranged from 0.27% to 1.93%.

Private Placement

Showcase announces its intention to complete a non-brokered private placement financing of up to 8,000,000 units of the Company (the "Units") at a price of $0.10 per Unit for total gross proceeds to the Company of up to $800,000. Of the 8,000,000 Units, 5,000,000 Units (the "Flow-Through Units") will consist of one flow-through share (each a "FT Share") and one-half of a non-flow through, transferable share purchase warrant with a full warrant entitling the holder to purchase an additional common share of the Company for $0.15 for a period of two years. Each FT Share will qualify as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Act"). An amount equal to the gross proceeds from the issuance of the FT Shares will be used to incur, on the Company's Canadian mineral exploration properties, eligible resource exploration expenses that will qualify as "Canadian exploration expenses" (as defined in the Act).

The 3,000,000 non-Flow-Through Units will consist will consist of one common share and one two-year transferable share purchase warrant entitling the holder to acquire an additional common share for $0.15. The proceeds of the private placement will be used for exploration on the Grassy Gold Project and general working capital.

Insiders may participate in the private placement including subscriptions from related parties of the Company as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The participation of Insiders in the Private Placement is exempt from formal valuation and minority shareholder approval requirements pursuant to exemptions contained in sections 5.5(c) and 5.7(1)(a) of MI 61-101. The securities issued under the Private Placement will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the Private Placement.

The private placement and property acquisitions are subject to Canadian Securities Exchange acceptance for filing.

Qualified Person

Ed Kruchkowski, P.Geo., is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release. He has also supervised the sampling reported in this press release.

About Showcase Minerals Inc.

Showcase Minerals Inc. is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral properties. The Company has recently shifted its focus on precious metal properties in British Columbia. The province's "Golden Triangle" in Northern B.C. and the historic silver districts in the southwest are of specific interest to the Company and it intends to pursue the acquisition of interests in additional properties with historic backgrounds and existing reserves to add to its portfolio.

Disclaimer

Readers are cautioned that the discussion about adjacent or similar properties is not necessarily indicative of the mineralization or potential of the Premier East Gold Project and the Grassy Gold Project. The Company has no interest in or right to acquire any interest in any such adjacent properties.

For further information, please contact:

Figure 1

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The project has a drill permit attached to it and the Company is planning a test of the Rama vein to further evaluate the gold-silver content.

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

Not for distribution to United States newswire services or for dissemination in the United States.

FORWARD-LOOKING INFORMATION

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Forward-looking statements in this news release include, but are not limited to, statements respecting: completion of the property acquisitions, completion of the private placement, and development of the mineral properties, including drilling on the Grassy Gold Project. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Source: Showcase Minerals Inc.