Pacifica Silver (CSE:PSIL) - Advancing the Claudia Silver-Gold Project Towards 2027 Maiden Resource

Interview with Todd Anthony, Director & CEO of Pacifica Silver Recording date: 4th November 2026 Pacifica Silver Corp. is an exploration company drilling the 100%-owned Claudia Silver-Gold Project in Durango State, Mexico. The 11,876-hectare property covers most of the historic El Papantón Mining District and holds more than 30 km of known veins. CEO Todd Anthony said only about 10% of those veins had been drill-tested before Pacifica’s work began. Anthony spent 2010 to 2023 at First Majestic Silver, and he said that experience shaped which Mexican states he was willing to work in. The company took over the project in July 2025 and drilled 7,992 m in 29 holes that year. Its fully funded Phase II program began in mid-January 2026, was expanded to 30,000 m, and had reached over 27,900 m in 118 holes by October 26, with 4 rigs operating. Anthony said roughly 75% to 80% of this year’s holes have tested the Aguilareña Vein, the site of a 94 m historical shaft. Results released raised mineralized strike across the Aguilareña, Central and Justina veins to more than 3.9 km, an increase of about 1.4 km, or 56%. A step-out about 500 m south on the Central Vein returned 8.72 g/t Au and 49 g/t Ag over an estimated true width of 5.04 m, including 35.83 g/t Au and 159 g/t Ag over 1.03 m. The company reports an emerging shoot of about 750 m of strike and 100 m down-dip, open along strike and at depth. Aguilareña now measures about 2.7 km of strike and 225 m down-dip, although grades on the new southern extension are lower than in the shoot north of the shaft. Anthony’s investment case starts with near-surface grade and low costs. He put all-in drilling at about $140 per meter, and the project lies about 15 km by paved road from Santiago Papasquiaro, so crews can stay in town. Durango ranks 4th most peaceful of 32 Mexican states in the 2026 Mexico Peace Index, and the company cites drill permits in roughly 45 days. The mining method is undecided, with a small pit and ramp-accessed underground mine under discussion, and metallurgical testing is still to come. Pacifica is targeting a maiden resource in 2027. Anthony said between 60,000 m and 70,000 m of drilling will feed it, with an internal cut-off under consideration for the end of the first quarter of 2027. Most of the estimate is planned to come from Aguilareña, with contributions from Central and Justina. A first drill test at Lizeth, a 250 m wide zone in the north, is targeted for the same quarter, and a hit could delay the resource so that Lizeth can be included. Anthony put the market capitalization at about $75 million and cash at about $20 million at the time of the interview, while the October presentation shows C$61 million at October 15 and C$26.9 million in cash at March 31. Staged payments to Silverstone begin at US$7 million if a Measured and Indicated resource is disclosed. Pacifica must also drill at least 50,000 m and publish a technical report disclosing Measured or Indicated resources by December 31, 2029, or the project returns to Silverstone unless the premium is renegotiated. Claudia has no current mineral resource, and the company describes the investment as highly speculative. Sign up for Crux Investor: https://cruxinvestor.com/subscribe