Key Program Objectives:

• Second Phase Drill Program: The 2026 drilling program at the Chorrillos Project follows the initial drill program performed in mid-2023. Its main objective is to explore several high-grade Silver, Lead and Zinc target areas that were defined in both the initial drill program and in the subsequent exploration carried out on the property in the previous two years.

• Inferred Resource Drilling: Targeted diamond drilling program is designed to upgrade "potential" (exploration) targets to "Inferred" mineral resources.

• Strike and Depth Extensions: Testing the potential down-dip and strike length of previously intersected High-Grade Silver, Lead and Zinc Values from initial drilling and systematic channel sampling of the underground artisanal workings, which remain open laterally and vertically.

• Underground Levels: Dewatering operations on the lower eastern workings will enable full access to flooded areas.

• Contractor Fujita Drilling: Cartier Silver Corp. signed a drilling contract with Fujita Drilling, who are in the process of mobilizing one diamond drill rig to the Chorrillos Project.

Toronto, Ontario--(Newsfile Corp. - May 26, 2026) - Cartier Silver Corporation (CSE: CFE) ("Cartier Silver" or the "Company") is pleased to announce the second-phase diamond drilling campaign comprising 5,000 metres across 12 drillholes at the Company's Chorrillos high-grade Silver-Lead-Zinc Project (the "Chorrillos Project"), together with the commencement of a structured underground dewatering and rehabilitation program.

Tom Larsen, CEO of Cartier Silver, commented: "We are on track to resume diamond drilling in June 2026. The program is designed to identify new high-grade mineralized structures and expand our understanding of the existing veins and confirm the newly discovered high-grade silver, lead and zinc structures identified during the first drilling phase. Additionally, we are looking forward to drilling, for first time, highly prospective target areas such as Quimbalete - Hoyada and Felicidad."

Mr. Larsen continued: "The dewatering and rehabilitation program on the previous underground mining operations, outlined by our geological and engineering group, represents a critical step in advancing the project, as it will enable the Company to quickly procure vital data that can be used for future economic modelling."

The Second-Phase Drilling Program

The 5,000 m 12-hole second-phase diamond drilling program at the Chorrillos Property is scheduled to commence in June with the following key objectives:

• To assess the continuity of known mineralization: primarily along the southern projection of the Central Vein (at Mina Central), where underground sampling at levels -40 and -60 identified areas with high grades of silver and lead, and significant zinc content.
• To evaluate possible new vein structures: Primarily from two veins first intersected by drill hole DGL-01 during the Company's 2023 drilling campaign (refer to the Company's press release dated September 7, 2023).
• To extend the continuity of previously defined mineralization in both surface and underground workings beneath and within the pyroclastic cover in the volcanic area approximately 500m north of the Central vein target area.
• To test the continuity of the Quimbalete vein below the -30 level, and explore possible parallel structures associated with the main vein at the La Hoyada-Quimbalete zone.

Details of the drilling campaign are presented in Table 1, including location coordinates, depths, and specific targets for each drillhole.

Table 1: Scheduled Second-Phase Drilling Program

Figure 1: Geological Plan Map of Gonalbert Property Showing Locations of Completed and Proposed Diamond Drill Holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11987/298836_e8b6953004f62a18_002full.jpg

Figure 2: Geological Plan Map of Gonalbert Property Showing Locations of Executed and Proposed Diamond Drill Holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11987/298836_e8b6953004f62a18_003full.jpg

Dewatering and Rehabilitation of Underground Workings in the Central Mine - Gonalbert zone

The Company is proceeding with the dewatering of former mine underground workings (-140 -180 Levels), including an existing 180 m shaft (Central Mine), together with rehabilitation activities at the Chorrillos Project.

Dewatering of the Central Mine in the Gonalbert Zone with access to the underground workings from the Central Mine is expected to be completed by the end of the third quarter 2026. Access to the underground workings will enable the Company to evaluate and formulate further development and exploration programs on an expedited basis.

Preliminary Mineral Characterization on samples from Gonalbert Zone

Wardell Armstrong International was commissioned by Cartier Silver to complete characterisation testwork on two samples originating from the Gonalbert Pb-Zn-Ag zone. Head assay analysis on the oxide sample indicated the sample contained 0.59% Pb and 14.6ppm Ag with the sulphide sample containing 39.7% Pb, 7.4% Zn and 1,112ppm Ag.

The sulphide sample mineralogy confirmed that virtually 100% of the lead was in the form of galena and all the zinc was in the form of sphalerite. Both galena and sphalerite were seen to have high liberation, with 96% of the galena and 90% of the sphalerite present as free/liberated particles.

The potential processing flowsheet for the sulphide material could involve a primary grind of 150-250µm followed by standard differential lead-zinc froth flotation. Due to the liberation observed, it is unlikely that any regrinding of rougher concentrates will be required which would further reduce capital costs and simplify the circuit. The liberation statistics for the galena and sphalerite would likely result in good metal recoveries and concentrate grades with low loss of zinc to the lead concentrate.

Positive results from preliminary mineral characterization confirm the technical viability of extracting target metals or minerals from representative samples in the Chorrillos project. Such data provides the necessary foundation to advance the project.

The Chorrillos Project

The Chorrillos Project is situated within a polymetallic belt in the Eastern Cordillera, Southern Bolivia, which is characterized by complex tectonic and magmatic evolution favorable for the development of mineralized systems rich in silver, lead and zinc. It comprises two main areas: Gonalbert and Felicidad (Figure 2). The mineralization is hosted in Ordovician rocks and in Tertiary volcanic sequences (lithic tuffs) and epiclastic intruded by dacitic dikes and controlled by two major structural systems-oriented NW-SE and WNW-ESE, which significantly influence the direction and/or continuity of the mineralized structures.

Qualified Person

Dr. Osvaldo Arce, P.Geo. General Manager of Cartier Silver's Bolivian subsidiary, Cartier Silver Bolivia S.R.L, and a Qualified Person ("QP") as defined by National Instrument ("NI") 43-101 has reviewed and approved the technical content of this news release. Dr. Arce who has more than 35 years of mineral exploration and extensive mining expertise across several countries in North and South America manages the overall technical program and supervises all field work conducted at Chorrillos project.

Cartier Silver utilized both ALS and AHK for drill core analyses, both of whom are major international accredited laboratories. Drill samples sent to ALS were prepared in both ALS Bolivia Ltda's preparation facility in Oruro, Bolivia and the preparation facility operated by AHK in Tupiza with pulps sent to the main ALS Global laboratory in Lima for analysis. Drill core samples sent to AHK Laboratories are also prepared by AHK in Tupiza with pulps sent to the AHK laboratory in Lima, Peru.

Silver (Ag), zinc (Zn) and lead (Pb) are analyzed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) using a four-acid digestion; Sn is analyzed by X-Ray Fluorescence (XRF) and Au is analyzed by fire assay on 50g pulps with an Atomic Absorption Spectroscopy (AAS) finish. AAS measures absorbed light to quantify elements, while ICP, such as ICP-OES or ICP-MS, measure emitted light or ions to determine elements. XRF uses fluorescent X-rays to excite atoms and to emit X-rays that reveal the presence and concentration of tin. Sample size in ICP typically ranges from 100 mg (0.1 g) to 1 g, for AAS, is usually less than 100 mg (0.1 g) and for XRF is ideally below 75 µm.

Check samples between ALS and AHK are regularly done as a QA/QC check. AHK is following the same analytical protocols used as with ALS and with the same QA/QC protocols except for Sn for which a sodium peroxide fusion is used at AHK following by ICP. Check comparisons of Sn results from ALS and ALS indicate no statistically significant difference between results using the two different analytical techniques.

Cartier employs an industry standard QA/QC program with standards, blanks and duplicates inserted into each batch of samples analyzed at both laboratories with selected check samples sent to a separate accredited laboratory. Check results are regularly monitored.

About Cartier Silver Corporation

Cartier Silver is an exploration and development Company focused on discovering and developing its silver property assets, including the Chorrillos Project and claims staked by the Company's subsidiary, all of which are located in the Potosi Department of southern Bolivia. The Company also holds significant iron ore resources at its Gagnon Holdings in the southern Labrador Trough region of east-central Quebec, and the Big Easy gold property in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland and Labrador.

For further information please visit Cartier Silver's website at www.cartiersilvercorp.com

For further information please contact:

The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298836

Source: Cartier Silver Corporation