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Minaurum Silver's management team is composed of geologists and technicians that know the lay-of-the-land in Mexico. Their geologists have a history of big discoveries so they know what they're looking for. Photo credit: Minaurum Silver
Minaurum Silver's mandate is to find LARGE Tier 1 Copper, Gold or Silver Deposits. We have no plans to build and run a mine. We're here to de-risk district-scale projects and sell them. And we're potentially on to something investors should know about RIGHT now.
Minaurum Silver (TSX.V:MGG | OTCQX:MMRGF) is an elite team of geologists and mining executives. This is not hyperbole.
They have intimate knowledge of Mexico's geology and know what to look for.
The World is Starved for GIANT Silver Discoveries
Backed By Sprott & Co And Using An Unconventional Drill Strategy, Minaurum Silver Has Found Something Resource Investors Need To Know About
Reading: #mins (#words Words)
Photo credit: Minaurum Gold
These guys know how to find mines.
Up-close drill core silver mineralization.
Photo credit: Minaurum Silver
Cerro Cacharamba geological feature.
Photo credit: Minaurum Silver.
Most juniors drill until they hit something. Then they step out 25m with the highest probability to stay within mineralization, all the while hoping to extend. Our average step out hole is between 200 and 250m, and can stretch to as much as 1km or more.
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Are you an investor looking for undervalued silver projects?
To find Tier 1 discoveries, we've been drilling in an unconventional manner
Photo credit: Minaurum Silver
Our flagship project Alamos checks a lot of boxes
Drilled 188 drill core holes totalling 65,000 m with highest grade returning 1,760 g/t Ag over 8.25 m (Hole AL17-007)
We control 37,928 hectares including mines that historically produced 200 Moz Ag. 85% of this land package remains unexplored.
The Alamos project borders the Piedras Verdes Mine (Mexico’s 3rd largest open pit copper silver mine), meaning mining infrastructure, like power, roads, labor, water.
Average 354 g/t silver equivalent (AgEq) grade with an average width of 4.80 m (silver grade is 221 g/t silver (Ag), copper grade is 0.34%, lead grade is 0.99%, zinc grade is 2.06%) *
High grade inferred mineral resource of 55 Moz AgEq @ 320 g/t AgEq with significant growth potential across 26 vein zones (See Minaurum news release dates January 28, 2026)
What Kind Of Silver Projects Get Bought By Majors?
- What we want to find are discoveries with a minimum grade of 200 g/t Ag or 350 g/t AgEq.
- We want district scale size.
- We want at least 50 Moz Ag with a clear path to growing beyond 100 Mozs Eq.
- It should have low capex potential. This means infrastructure is already in place such as community, access to power, labor, water and permitted.
Get all these right and we believe we can sell at a premium once the discovery is de-risked.
* Silver-equivalent grades are based on October 1, 2025, Long-term CIBC Global Mining Group Analyst Consensus Commodity Price Forecast: Ag $29.73/oz, Au $2,646/oz, Cu $4.34/lb, Pb $0.92/lb, Zn $1.21/lb. 2) Based on 45,711 meters and 116 diamond drill core hole intersections from 2017–2024 on Promontorio, Europa-Guadalupe, San Jose, Minas Nuevas, Cotera-Pulpito and Alessandra vein zones 3) Based on vein intercepts above 150 g/t AgEq on a minimum 1-meter interval*
What investors should know is that we did not drill low hanging fruit first.
There are 4 past producing mines in the area (please see Minaurum news release dated February 6, 2020). We did not drill them to get promotable "news worthy drill results". We wanted to find NEW veins around them. After 4 years of exploration we've found 26 newly discovered vein zones. We drilled 19 of these veins to date. 13 veins returned high-grade results.
Undervalued Silver Stock Positioned for Growth?
As of December 11, 2025, Minaurum had a $210 market capitalization and fully financed with $25M in the treasury.
MAG Silver was recently purchased by Pan American Silver Corp for $2.1 billion (Pan American Silver Announces Agreement to Acquire MAG Silver Corp.)
Let that growth potential sink in.
Photo credit: Minaurum Silver
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Key Catalysts
Advance Europa, Promontorio and Travesia silver shoots, as well as additional drilling at Quintera, Minas Nuevas ]Promontorio Sur, Cotera, Pulpito, and San Jose vein zones towards an updated resource in second half of 2026
Phase II – 50,000 meter resource expansion drill program focused on extending current vein zones, and discovering new vein zones that will be advanced to an updated resource
Continue de-risking Alamos by procuring additional water and surface rights
Road to a Resource
Minaurum’s recent infill drill program has intersected positive results
Significant results include: AL24-105 that intersected 0.70 m of 2,976 g/t silver equivalent, AL24-107 that returned 5.60 m of 368 g/t AgEq and 2.55 m of 621 g/t AgEq and AL24-108 that returned 8.45 m of 336 g/t AgEq. (Minaurum news release dated September 19, 2024)
Highlights of Minaurum’s previous drilling at Promontorio include:
20.2 m of 455 g/t AgEq or 154 g/t Ag, 0.5% Cu, 2.3% Pb, 6.8% Zn (Hole AL17-004)
3.8 m of 1,309 g/t AqEq or 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb, 9.19% Zn incl. 0.95 m of 3,282 g/t AgEq or 1,566 g/t Ag, 6.72 g/t Au, 4.48% Cu, 9.27% Pb, 10.08% Zn (Hole AL19-025)
Learn More About:
Exceptional intercepts including: 3.00 m of 4,173 g/t silver equivalent (“AgEq”) (AL24-111); 6.35 m of 380 g/t AgEq (AL24-110); and 5.75 m of 189 g/t AgEq. (AL24-112). Hole AL24-111 intersected a significant high-grade sub interval returning 1.55 m of 7,780 AgEq, which includes 0.50 m of 13,995 g/t AgEq and 1.05 m of 4,839 g/t AgEq. (Minaurum news release dated February 13, 2025)
Intercepts include the significantly wide intercept of 36.65 m of 328 g/t silver equivalent (“AgEq”) including 3.85 m of 1,022 g/t AgEq (AL24-117), 4.40 m of 241 g/t AgEq including 0.90 m of 385 g/t AgEq (AL24-115), and 4.95 m of 272 g/t AgEq including 0.90 m of 513 g/t AgEq (AL24-116), and further demonstrate the high-grade continuity. (Minaurum news release dated February 27, 2025)
Infill Drill Results Return High-Grade Silver!
A Solid Bedrock Foundation
Over the next few months, Minaurum Silver (TSXV:MGG) (OTCQX:MMRGF) is advancing its flagship Alamos Silver project that has returned significant high-grade silver results across a broad area that every single serious silver investor needs to follow right now.
The Alamos silver project is Minaurum’s flagship project covering the prolific historical silver-producing district of Alamos in Sonora, Mexico. This is a project with mammoth-scale potential that could be a benchmark-setting silver discovery in Mexico, the world’s leading silver producer providing roughly a quarter (23% in 2019) of the world’s silver supply.
Fully financed with $20M in the treasury
High grade inferred mineral resource of 55 Moz AgEq @ 320 g/t AgEq with significant growth potential across 26 vein zones
Fully permitted through to construction with key mining permit in hand.
Sprott and Co, Precious Metals Funds, Family Offices and HNW investors make up over 70% of Minaurum’s core shareholder base.
The Minaurum team has a proven technical and financing track record and has been credited with the discovery of over 300 million ounces of silver and 63 million ounces of gold in the Americas.
Former SilverCrest Metals resource modelers, led by Mr. Ruben Molina, have completed over 500,000 metres of drilling, including at Las Chispas and Santa Elena, later acquired by Coeur Mining and First Majestic Silver in major transactions.
Here’s why:
Sonora state and nearby projects
Elite Team With a History of Big Discoveries
Minaurum Silver is led by an elite team of geologists and mining executives. It’s what makes Minaurum’s stand apart amongst the world’s junior mining companies. Minaurum’s exploration strategy is to develop and acquire a pipeline of potential Tier One precious metals projects. Minaurum provides significant exposure to the metals spectrum through Silver projects totaling 37,000 hectares; Gold projects totaling 42,000 hectares; Copper projects totaling 12,000 hectares.
One of the largest recent silver discoveries in Mexico, Fresnillo and MAG Silver’s Juanicipio Silver Discovery, was made by Minaurum’s co-founder, Dr. Peter Megaw.
The Juanicipio discovery achieved a massive total Silver production for 2023 of 16.8 million ounces, according to the March 19, 2024 MAG Silver news release. Furthermore, MAG Silver silver head grade at Juanicipio is expected to range between 380 grams per tonne (g/t) and 420 g/t for 2024, translating to significant silver production potential. (MAG Silver news release dated March 5, 2024).
MAG Silver was recently purchased by Pan American Silver Corp for a whopping $2.1 billion (Pan American Silver Announces Agreement to Acquire MAG Silver Corp.)
This is a group that knows what to look for and doesn’t play games when it comes to moving on from projects that don’t fit a defined threshold, in the case of silver, it needs to see 100 million ounce potential.
Dr. Megaw also discovered MAG Silver’s Cinco de Mayo Ag-Pb-Zn-Cu-Au CRD, and Excellon’s Platosa Silver Mine, one of the highest-grade silver mines in Mexico since production started in 2005.
The late David M. Jones, also co-founder of Minaurum Silver, a senior geologist and director with over 40 years of experience, is another key member of the Minaurum team.
Jones discovered Teck’s Los Filos Gold Discovery, now owned by Equinox Gold and is one of the largest gold mines in Mexico.
He also found Gold Resource Corp’s Switchback vein system at El Aguila was also Jones’ discovery and he was a member of the team that discovered Kinross’ Buckhorn Gold Discovery.
Multi-million ounce discoveries found by other members of Minaurum's team include the Colosa and Gramalote deposits for Anglogold Ashanti in Colombia, and the Lynx deposit for Osisko, the OK Tedi gold and copper mine in BHP, and the Efemçukuru gold deposit in Turkey run by Eldorado Gold
The Los Filos mine is one of the largest gold mines in Mexico, and in the world. The Los Filos gold mine is situated in the Guerrero Gold Belt within the central portion of Morelos-Guerrero sedimentary basin.
Photo credit: Goldcorp Inc.
The Juanicipio Project is expected to commence commissioning in late Q4/2021, and the project is currently processing development material from the underground mine. Photo credit: Fresnillo plc, MAG Silver.
Darrell Rader (left), President and CEO at Minaurum Silver, with VP Exploration, Stephen Maynard, view mapping of their district-scale Alamos silver project. Photo credit: Minaurum Silver.
The Juanicipio Project is expected to commence commissioning in late Q4/2021, and the project is currently processing development material from the underground mine. Photo credit: Fresnillo plc, MAG Silver.
The Los Filos mine is one of the largest gold mines in Mexico, and in the world. The Los Filos gold mine is situated in the Guerrero Gold Belt within the central portion of Morelos-Guerrero sedimentary basin.
Photo credit: Goldcorp Inc.
Darrell Rader (left), President and CEO at Minaurum Gold, with VP Exploration, Stephen Maynard, view mapping of their district-scale Alamos silver project. Photo credit: Minaurum Gold.
Note: Minaurum does not have an interest in the projects held by MAG Silver Corp, Excellon Resources, BHP Ltd., Gold Resource Corp, Kinross Gold, Eldorado Gold, Goldcorp, Fresnillo PLC, Teck Resources. Mineralization in these properties is not necessarily indicative of the mineralization on the Company's properties.
For Minaurum, the Alamos story begins in August 2016.
Minaurum optioned the land totalling 5000-hectares. They soon after increased their land package by 600% to the current 37,000-hectares covering the entire historical district. They are also the only major player operating within the historic silver district.
Minaurum is the first to ever commence systematic modern exploration methods at Alamos.
At the time, just three historical veins were mined in the area: La Quintera (100 Moz), Promontorio (70 Moz), and Minas Nuevas (30 Moz).
They produced a cumulative 200 Moz historically between the 1700’s and 1910, Production ceased while still in mineralization due to the Mexican revolution (see 43-101 Technical Report titled Alamos Project - June 8, 2021).
These historical veins account for only a small portion of the 37,928 hectares of land to explore.
Following three years of mapping and sampling, 26 vein systems were discovered on the property.
Several holes were drilled into each of these veins with 14 of the 19 vein systems returning high-grade silver intercepts.
Minaurum utilizes man-portable rigs to reduce environmental footprint and providing employment to the local community. Photo credit: Minaurum Silver.
Alamos vein targets coloured to indicate Tier 1 through 3. As shown on the right, high-grade results were returned in Europa, Promontorio, Nueva Europa-Guadalupe and more, pointing to a potential district-scale silver project.
Photo credit: Minaurum Silver.
Las Guijas vein, part of Promontorio zone, sample interval 463.85-464.80 (0.95 m) (red outline) assayed 1.566 kg/t Silver, 6.719 g/t Gold, 4.48% Copper, 9.27 % Lead, 10.68% Zinc. Photo credit: Minaurum Silver
Las Guijas vein, part of Promontorio zone, sample interval 463.85-464.80 (0.95 m) (red outline) assayed 1.566 kg/t Silver, 6.719 g/t Gold, 4.48% Copper, 9.27 % Lead, 10.68% Zinc. Photo credit: Minaurum Silver
Top Ranked Drill Results
To put in perspective Minaurum’s discovery, we need to look at early stage drilling data from Fresnillo and MAG Silver’s Juanicipio mine, one of the highest grade and largest primary silver assets in the world.
When the companies were still drilling out to identify what kind of resource they were dealing with at Juanicipio, they generated these drill highlights:
1.
Europa-Guadalupe (New Discovery!)
8.25m @ 1,760 g/t Ag, 1.60% Cu, 1.48% Pb, 2.6% Zn (AL-17-007)
Promontorio (Historical High-Grade Producer)
3.80m @ 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb,9.19% Zn (AL19-025)
San Jose (New Discovery!)
9.60m @ 198 g/t Ag, 0.22% Pb, 0.88 % Zn (AL18-015)
Nueva Europa (New Discovery!)
1.20m @ 542 g/t Ag, 0.28% Cu, 0.44% Pb, 0.88% Zn (AL17-007)
Tigre (New Discovery!)
0.90m @ 391 g/t Ag, 0.42% Pb, 0.29% Zn (AL18-012)
6.
Europa Sur (New Discovery!)
0.95m @ 425 g/t Ag, 3.17% Pb 1.31% Zn
0.50m @ 719 g/t Ag, 0.57% Cu, 5.92% Pb, 2.37% Zn (AL19- 018 – Europa SW)
Cotera (New Discovery!)
2.15 m @ 451 g/t Ag (AL19-035)
Photo credit: Scottsdale Mint
• 1,843 grams per tonne (g/t) silver, 4.43 g/t gold, 3.54% lead and 5.96% zinc over a true width of 3.41 metres (12 June 2007 Mag Silver news release)
• 1,338 g/t silver, 3.56 g/t gold, 1.63% lead and 7.37% zinc over 3.37 metres (19 Nov. 2008 Mag Silver news release)
• 842 g/t silver, 1.20 g/t gold, 2.19% lead and 6.40% zinc over 8.02 metres (Same as above)
Minaurum does not have an interest in the projects held by MAG Silver Corp. Mineralization in these properties is not necessarily indicative of the mineralization on the Minaurum's properties.
See all published assay results at https://minaurum.com/projects/alamos
7.
5.
4.
3.
2.
Drilling further returned the following results
i. 5.85 m of 476 g/t silver equivalent (“AgEq”) including 1.80 m of 1,339 g/t AgEq (Hole AL25-135)
ii. 21.45 m of 220 g/t AgEq including 1.00 m of 497 g/t AgEq and 1.20 m of 1,377 g/t AgEq (Hole AL25-138)
iii. 2.40 m of 499 g/t AgEq including 0.85 m of 981 g/t AgEq (Hole AL25-139)
iv. 1.75 m of 845 g/t AgEq including 0.50 m of 1,366 g/t AgEq (Hole AL25-139)
v. 4.80 m of 287 g/t AgEq including 0.50 m of 1,029 g/t AgEq (Hole AL25-141)
vi. 1.10 m of 730 g/t AgEq (Hole AL25-142)
vii. 3.08 m of 523 g/t AgEq (Hole AL25-142)
viii. 1.40 m of 410 g/t AgEq (Hole AL25-148)
Weight-averaged silver-equivalent grades are based on October 1, 2025 Long-term CIBC Global Mining Group Analyst Consensus Commodity Price Forecast: Ag $29.73/tr oz, Au $2,646/tr oz, Cu $4.34/lb, Pb $0.92/lb, Zn $1.21/lb.
Minaurum Gold Inc. presents a webinar on the Initial Inferred Resource Estimate for the Alamos Silver Project, featuring President & CEO Darrell Rader, VP Exploration Stephen Maynard and Project Manager Ruben Molina discussing the January 28, 2026 resource announcement, key exploration results and the project’s path forward through 2026.
Why?
We want to know as quickly as possible if this discovery has SIZE and more importantly GRADE. This is because without size or grade, major mining companies won't buy it.
If it isn't big, we joint venture or sell the project to other explorers.
Hitting Tier 1, High Grade Silver
7.6 m of 461 g/t AgEq or 266 g/t Ag, 0.27 g/t Au, 0.57% Cu, 1.60% Pb, 3.17% Zn, incl. 2.9 m of 1,204 g/t AgEq or 636 g/t Ag, 1.36% Cu, 3.9% Pb, 7.17% Zn (Hole 20-044)
3.1 m of 1,334 g/t AgEq or 1,197 g/t Ag, 1.38% Cu (Hole AL20-046)
3.7 m of 761 g/t AgEq or 528 g/t Ag, 0.83% Cu, 2.43% Pb, 1.47% Zn (Hole AL20-064)
1.25 m of 1,309 g/t AqEq or 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb, 9.19% Zn incl. 0.95 m of 3,282 g/t AgEq or 1566 g/t Ag, 6.72 g/t Au, 4.48% Cu, 9.27% Pb, 10.08% Zn (Hole AL19-025)
5.1 m of 870 g/t AgEq or 769 g/t Ag, 0.76% Cu; incl. 3.1 m of 1,334 g/t AgEq or 1197 g/t Ag, 1.38% Cu (Hole AL20-046)
1.10 m of 1,186 g/t AgEq or 729 g/t Ag, 1.73 g/t Au, 0.13% Cu, 3.05% Pb and 5.73% Zn (Hole AL19-034)
Minaurum has subsequently expanded its exploration program with a new Phase II – 50,000 meter resource expansion drilling program (see Minaurum news release dated December 5, 2025). The program will include step-out holes at the Europa and Travesia silver shoots, as well as additional drilling at the historic Quintera and Minas Nuevas mines and the more recent discoveries at Promontorio Sur, Cotera, Pulpito, and San Jose vein zones.
The Resource Estimate lies in portions of the 3 veins of the 26 identified veins in the Alamos district, roughly 2 kilometres of approximately 30 known kilometres of cumulative vein strike length (Figures 1-3).
Figure 1. Alamos Silver Project Vein Zones – 55.2 Moz AgEq grading 320 g/t AgEq lies on Promontorio, Travesia, and Europa vein zones located within the black boxed outlines.
Figure 2. ravesia-Promontorio vein zone longitudinal section. Dotted line indicates the outline of the geological model used in calculating resources. This vein zone comprises 28.7 Moz AgEq grading 276 g/t AgEq. Click to enlarge.
Figure 3. Europa vein zone longitudinal section. Dotted line indicates the outline of the geological model used in calculating resources. This vein zone comprises 26.5 Moz AgEq grading 386 g/t AgEq.
Minaurum announced an initial inferred resource estimate of 55 Moz AgEq grading 320 g/t AgEq.
- High Grade Inferred Mineral Resource: Resource Estimate of 5.37 million tonnes (Mt) grading 202 g/t silver, 0.21 g/t gold, 0.43% copper, 0.97% lead, and 2.01% zinc, or 320 g/t silver equivalent (“AgEq”) and containing 34.8 million ounces (“Moz”) of silver; 35,640 ounces of gold; 51.0 million pounds of copper; 115 million pounds of lead; and 238 million pounds of zinc; or 55.2 Moz AgEq (Table 1).
- Conservative Assumptions Showcase Robust Mineralization: Calculations include smelter and processing deductions typically associated with more advanced resource estimates. Sensitivity analysis further indicates that the resource remains resilient at higher cut-off grades than 150 g/t AgEq, emphasizing the high-grade nature of the mineralization. (Table 2).
- Growth Potential: The Resource Estimate encompasses portions of the Promontorio, Travesia, and Europa vein zones—three of the twenty-six vein zones identified at Alamos. The resource is open along strike and at depth, offering significant potential for expansion through the ongoing Phase II 50,000 m resource expansion drill program.
Highlights:
Notes:
- The Resource Estimate conforms with the requirements of NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014). The Resource Estimate is entirely classified as Inferred Mineral Resources. Inferred Mineral Resources have been estimated from geological evidence and limited sampling and have a lower level of confidence than Measured and Indicated Mineral Resources and must not be converted to Mineral Reserves. There is no certainty that Inferred Mineral Resources will be converted to Measured or Indicated Mineral Resources.
- Weight-averaged silver-equivalent (“AgEq”) grades are based on the October 1, 2025 long-term CIBC Global Mining Group Analyst Consensus Commodity Price Forecast, using metal prices of US$29.73/oz Ag, US$2,646/oz Au, US$4.34/lb Cu, US$0.92/lb Pb, and US$1.21/lb Zn. Metal recovery assumptions, based on comparable projects, are 88.3% Ag, 75.0% Au, 75.5% Cu, 83.1% Pb, and 75.5% Zn. Assumed refinery payables are 95% Ag, 95% Au, 96.5% Cu, 95% Pb, and 85% Zn.
- The Resource Estimate is reported at a cut-off grade of 150 g/t AgEq.
- Unit cost assumptions are $50/t mining, $30.22/t for processing and G&A, and $19.50/t for smelting and refining.
- Bulk density values applied are 2.72 t/m³ for the Promontorio and Travesía zone veins and 2.63 t/m³ for the Europa zone veins.
- The Resource Estimate is reported on a 100% project basis and reflects reasonable prospects for eventual economic extraction.
- The effective date of the Resource Estimate is January 8, 2026.
- There are no known legal, political, environmental, or other risks that, to the knowledge of the Qualified Persons, could materially affect the potential development of the Mineral Resources.
- All figures are rounded to reflect the relative accuracy of the Resource Estimate. Totals may not sum exactly due to rounding.
Major News Update: Minaurum Announces Resource Estimate of 55 Moz AgEq Grading 320 g/t AgEq
Table 1. Alamos Silver Project – Inferred Mineral Resource Estimate Summary (150 g/t AgEq cut-off)