Metalsource Mining Intersects 1.1kg/t AgEq over 3.1m, Continues Identifying Widespread Polymetallic Mineralization While Expanding the Dip Length of the System Approximately 260m from Surface

Vancouver, British Columbia--(Newsfile Corp. - April 16, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) (the "Company" or "Metalsource") is pleased to announce recently received assay results from ongoing exploration drilling at the Silver Hill Project, located approximately 15km south of Lexington, NC.

Drill hole SH26-08 intersected 447 g/t silver equivalent (AgEq) over 13 metres, highlighting the scale and strength of mineralization. Within this broad interval, the company identified multiple zones of exceptional grade, including:

• 705 g/t AgEq over 5.4 metres

• 1,063 g/t AgEq (1.1 kg/t) over 3.1 metres, featuring 53% combined lead-zinc

• 604 g/t AgEq over 2.6 metres

The results from SH26-08, combined with previously reported high-grade gold intercepts from SH26-07, indicate the emergence of a robust and expanding high-grade polymetallic system at Silver Hill. The system is characterized by both high precious metal grades and significant base metal mineralization.

While SH26-07 confirmed the presence of bonanza-grade gold, SH26-08 demonstrates that intervals of high-grade lead-zinc-silver mineralization extend down dip and remain open.

Importantly, drilling continues to show that mineralization extends approximately 260 metres from surface and remains open at depth, underscoring the significant expansion potential of the system.

The consistent presence of sphalerite, galena, and chalcopyrite provides a clear mineralogical signature, enabling the exploration team to efficiently identify and target high-grade zones in real time, accelerating discovery and reducing uncertainty.

Silver Hill is emerging as a compelling polymetallic asset, supported by:

• Strong precious metal credits (silver and gold)

• High base metal content (zinc and lead)

• A growing footprint with expansion in multiple directions

With ongoing drilling focused on extending mineralization along strike and down dip, Metalsource is rapidly advancing toward unlocking the full scale of this system.

Table 1: Composite assay results from SH26-08. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq calculations below.

Figure 1: Panoramic photograph showing the nature of mineralization at Silver Hill. Run blocks are in feet. 

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Figure 2: Massive galena + spahlerite at 617ft. (188m).

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Figure 3: Massive sphalerite + galena + pyrite at 619ft. (188.7m).

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Figure 4: Massive sphalerite + galena + pyrite at 645ft. (196.5m).

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Figure 5: Cross section looking north showing current drill results. Blank hole traces indicate pending assays. 

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Figure 6: Long section looking east-northeast (113°) showing intercept locations colored by AgEq grade. Note black intersections indicate assays pending with approximate locations.

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Joe Cullen, CEO of Metalsource Mining, commented:

"SH26-07 highlighted the high-grade gold potential at Silver Hill, while SH26-08 demonstrates that this mineralization is part of a broader and strengthening polymetallic system. As drilling progresses deeper, we are intersecting thicker and higher-grade intervals that remain open down dip. These results support both the precious metal upside and the growing scale potential of the system."

Table 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N.

Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.

The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release, analytical results remain pending; accordingly, the reported intervals are based solely on geological logging.

*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal.

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Qualified Person

All scientific and technical information has been reviewed and approved by Alex Bugden, B.Sc., P.Geo., a Director of the Company and a "Qualified Person" as defined under NI 43-101 - Standards of Disclosure for Mineral Projects.

Silver Hill Project

Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions. Recent surface sampling bolsters the historic dataset; results include SH25-003, which returned 444 g/t Ag, 17.7 g/t Au, 8.61% Pb, and 0.507% Zn.

Byrd-Pilot Mountain Project

The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a Canadian mineral exploration company focused on advancing high-potential mineral assets through modern, systematic exploration and value-driven discovery.

For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: jcullen@metalsourcemining.com

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