CARTIER SILVER CORP

Cartier Silver’s Chorrillos Silver Project originally option in December 2022, consists of 2 separate optioned properties (Gonalbert and Felicidad) and three large, staked properties (CSB-1, CSB-2, CSB-13) located in southern Bolivia approximately 15 km and 20 km south, respectively,  of Eloro Resources Iska Iska silver-polymetallic discovery (Figure 1).

Cartier Silver’s 98%-own Bolivian Subsidiary, Mineral Cartier Bolivia S.R.L. has the right to acquire a 100% interest in the two optioned properties in the Chorrillos Silver Project by making staged payments totalling US$4.5 million to the vendors and title holders over 5 years

In June 2023, Cartier Silver announced that geophysical and geological work by the Company has outlined an epithermal silver polymetallic target over an area of 800m by 500m on the Gonalbert Property.

Geologically, the property is underlain by Ordovician sedimentary rocks that have been intruded by a Miocene dacitic dome which includes tuffs, breccias and intrusive dacite. The intrusion, which is approximately 1,300m by 600m wide (Figure 1), hosts epithermal Ag-Pb-Zn mineralization along structures cutting this intrusion.

Until recently, an artisanal mining operation was active near the intersection of two major faults, with a small plant processing approximately 20 t/day. The head grade was reported to be around 180 g/t Ag, yielding a concentrate of about 1300 g/t Ag. Several other historic and more recent artisanal workings on the property are shown in Figure 1.

Magnetic and Induced Polarization survey data completed by Cartier Silver provided the first exploration information to a depth of approximately four hundred meters below where mineralization has been known since colonial times. Previous exploration was limited to surface trenches and artisanal workings. The magnetic map for the property shows that magnetic susceptibility is enhanced near a pair of northwest and north-northwest trending faults that intersect where artisanal mining has occurred for silver, lead and zinc.

A strong IP chargeability anomaly extends along the major NW structure from Mina Central for 1,100 m along strike, is ~100 m wide and extends to a depth of at least 400 m, the depth limit of the surveys. The chargeability becomes stronger at depths greater than 100m, below a depleted, near-surface zone where sulphide mineralization has been extensively oxidized (Figure 2).

In 2023 Cartier Silver drilled 3 holes totalling 1,365m in the Mine Central Area.  Hole DGL-01 intersects 49.19 g/t Ag, 1.35% Zn and 1.31% Pb over 44.76m which included a higher-grade interval of 137.42 g/t Ag, 7.91% Zn and 5.6% Pb over 5.60m. Other significant intersections in the Discovery Hole included: 57.74 g/t Ag and 1.75% Pb over 18.25m including 79.90 g/t Ag and 2.53% Pb over 6.63m; 109.54 g/t Ag, 3.68% Zn and 4.44% Pb over 11.09m including 170.01 g/t Ag, 2.51% Zn and 7.00% Pb over 5.81m.

Hole DGL-02 did not intersect significant mineralization as the hole did not reach the designed targets because of difficult ground conditions due to intense faulting.  DGL-03 intersected narrow intersections of Ag mineralization with a best result of 89 g/t Ag, 0.26%Zn and 2.99%Pb over 2.57m but only tested the flank of the chargeability anomaly (Figures 2 and 3).

Surface rock geochemical sampling has defined an extensive area of anomalous Ag and Pb extending for a strike length of approximately 2km that correlates well with the IP chargeability trends (Figure 4).

Figure 1
Source: Cartier Silver

Property map of Los Chorillos Project and location of Gonalbert Property and Iska Iska (Cartier Silver corporate presentation July 2026).

Figure 2
Source: Cartier Silver

Plan map showing major target zones on Gonalbert property.  Note that the Mina Central Adit target and its likely extension indicated by the strong IP chargeability anomaly (Cartier Silver press release November 2, 2023).

Figure 3
Source: Cartier Silver

Section of IP Chargeability showing Discovery HoleDGL-01 intersecting core of conductivity anomaly while hole DGL-02 was on the flank of the anomaly and was lost due to faulting (Cartier Silver press release November 2, 2023)

Figure 4
Source: Cartier Silver

Geochemical map showing distribution of surface and underground rock samples (Cartier Silver press release September 7, 2023).