Silverco Mining Ltd. (TSXV: SICO,OTC:QTZCF) (‘Silverco’ or the ‘Company’) is pleased to announce that it has upsized its previously announced ‘bought deal’ offering (the ‘Offering’) with Velocity Capital Partners (‘Velocity’), as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters (collectively, with Velocity, the ‘Underwriters’), from $40 million to $62.5 million.

Eric Sprott, a current insider of Silverco, will be participating in the Offering with a lead order of $10 million.

Pursuant to the upsizing, the Underwriters have agreed to purchase for resale, on a ‘bought deal’ basis, 4,000,000 common shares of the Company (the ‘Offered Shares‘) at a price of $12.50 (the ‘Issue Price‘) per Offered Share, for aggregate gross proceeds to the Company of $50 million.

In addition, the Offering will now also include the issuance of 1,000,000 units of the Company (the ‘Units‘ and together with the Offered Shares, the ‘Offered Securities‘) at the Issue Price per Unit, for additional aggregate gross proceeds to the Company of $12,500,000.

Each Unit will consist of one common share of the Company and one-quarter of one warrant, with each whole warrant being exercisable for one common share of the Company at an exercise price of $18.00 per share for a period of 18 months from the date of issuance.

The Offered Securities will be offered in each of the Provinces and Territories of Canada (other than Québec) as to: (i) the Offered Shares in reliance on the ‘listed issuer financing exemption’ from the prospectus requirements available under National Instrument 45-106 − Prospectus Exemptions (‘NI 45-106‘), as modified by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the ‘Listed Issuer Financing Exemption‘); and (ii) the Units in reliance on other exemptions from the prospectus requirements available under NI 45-106 other than the Listed Issuer Financing Exemption (the ‘Private Placement Exemption‘).

The Offered Securities may also be offered on a private placement basis in such offshore jurisdictions as may be mutually agreed between the Company and Velocity, provided it is understood that no prospectus filing or comparable obligation, ongoing reporting or continuous disclosure requirement or requisite regulatory or governmental approval arises in such jurisdictions, and in the United States pursuant to an exemption from the registration requirements of the United States Securities Act of 1933 (the ‘U.S. Securities Act‘), as amended. Any such Offered Securities will be characterized as ‘restricted securities’ under the U.S. Securities Act.

The net proceeds of the Offering will be used by the Company for exploration, evaluation and restart work on the Cusi Project, general and administrative expenditures and working capital.

The Offered Shares to be issued pursuant to the Listed Issuer Financing Exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws. The Units and any underlying securities to be issued pursuant to the Private Placement Exemption will be subject to a hold period of four months and one day from the Closing Date in accordance with applicable Canadian securities laws.

There is an amended and restated offering document related to the Offering that can be accessed on SEDAR+ (www.sedarplus.ca) under Silverco’s issuer profile and on the Company’s website at www.silvercomining.com. Prospective investors should read this amended and restated offering document before making an investment decision concerning the Offered Securities.

The Offering is expected to close on or about February 19, 2026 (the ‘Closing Date‘) and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange (‘TSXV‘) and the applicable securities regulatory authorities. The Offering is subject to final acceptance of the TSXV.

The Offered Securities have not been registered and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Silverco Mining Ltd.

The Company owns a 100% interest in the 11,665-hectare Cusi Project located in Chihuahua State, Mexico (the ‘Cusi Property‘). It lies within the prolific Sierra Madre Occidental gold-silver belt.There is an existing 1,200 ton per day mill with tailings capacity at the Cusi Property.

The Cusi Property is a past-producing underground silver-lead-zinc-gold project approximately 135 kilometres west of Chihuahua City. The Cusi Property boasts excellent infrastructure, including paved highway access and connection to the national power grid.

The Cusi Property hosts multiple historical Ag-Au-Pb-Zn producing mines each developed along multiple vein structures. The Cusi Property hosts several significant exploration targets, including the extension of a newly identified downthrown mineralized geological block and additional potential through claim consolidation.

Cautionary Statement and Forward-Looking Information

This news release contains ‘forward-looking statements’ within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be ‘forward-looking statements.’ Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as ‘anticipates’, ‘plans’, ‘scheduled’, ‘believed’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) including statements regarding the Company’s plans with respect to the Company’s projects and the timing related thereto, the merits of the Company’s projects, the Company’s objectives, plans and strategies, the Offering, the listing of the Common Shares on the TSXV, the use of proceeds of the Offering and other matters are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements.

Although the forward-looking statements contained in this news release are based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Such factors include, among others, with respect to the Offering, the conditions of the financial markets, timeliness of completion of the Offering, and the timing of TSXV approval; and with respect to the use of proceeds, the availability of drills and personnel, weather, the speculative nature of mineral exploration and development, fluctuating commodity prices, risks relating to the timing and ability of the Company to obtain and the timing of the approval of relevant regulatory bodies, if at all; risks relating to property interests; risks related to access to the project; risks inherent in mineral exploration, including the fact that any particular phase of exploration may be unsuccessful; the availability of contractors; geo-political risks; the global economic climate; metal prices; environmental risks; political risks; and community and non-governmental actions, as described in more detail in our recent securities filings available on SEDAR+ (www.sedarplus.ca) under Silverco’s issuer profile. Further to this, geological similarities or characteristics are not guarantees or certainties of successful exploration. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in the Company’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR+ (www.sedarplus.ca) under Silverco’s issuer profile. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to United States newswire services or for dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282065

(TheNewswire)

Vancouver, British Columbia / January 29, 2026 ‑ TheNewswire – Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (‘Harvest Gold‘ or the ‘Company‘) is pleased to announce the results of a detailed review of current and historical drilling data conducted in light of the Company’s 2025 drilling program.  This work has identified several significant near-surface Au-Ag-Cu halos in the northern portion of the Mosseau Property, its flagship property in the Urban Barry Belt in Quebec’s Abitibi region.

Rick Mark, President and CEO of Harvest Gold, stated: ‘Our most recent press release announced, among other things, 10 and 19-meter widths of anomalous gold or copper at depth below the historic, non 43-101 Morono gold deposit. We realized we had identified something new, forty plus years after the last Morono drill program. We also realized samples were not analysed for copper and silver during historic drilling. That led our Geological team to evaluate the historical data of the entire North area of Mosseau. This new understanding of the area’s mineralization changed our thinking.’

Louis Martin, geologist for Harvest Gold in Quebec states: ‘The identification of broad, near-surface gold with Ag-Cu pathfinders from historical drilling significantly strengthens the interpretation of our 2025 drill results. Re-evaluating the Mosseau data using this model continues to improve our understanding of the mineralizing system and provides a strong technical basis for targeting and additional drilling in the northern part of the property.’

Following the reporting of wide gold intersections with associated anomalous silver and copper from the 2025 drill program (see Harvest Gold press releases dated January 8, 2026), the Company initiated a systematic re-evaluation of historical drill results to identify similar styles of mineralization. This review applied a lower gold cut-off grade than used by previous operators to better define broad zones of mineralization consistent with the Au and Ag-Cu pathfinders recognized in the Harvest Gold 2025 drilling.

As a result of this new analytical perspective, multiple significant Au-Ag-Cu halos have been identified within several key target areas on the Mosseau Property.  Critically, this allows the Company to narrow its focus to three principal areas of interest, including Trench #1, the Morono Gold Deposit, and what were thought to be isolated targets along the northern boundary of the property (see Figure 1, Figure 2).

Examples of broad Au-Ag-Cu halos from holes drilled by SOQUEM in 2001 (GM59164) in the area of Trench #1 include:

• 1.44 g/t Au over 26.2 metres (hole 1217-01-13) 

• 3.37 g/t Au over 14.1 metres (hole 1217-01-14) 

Both drill holes also returned anomalous silver and copper values directly associated with the higher-grade gold intervals, similar to the results observed in the 2025 drilling by Harvest Gold (see Table 1).

At the Morono Gold Deposit, several wide historical intersections—locally extending up to 35.36 metres—further illustrate the potential for extensive gold halo development. Selected historical intersections include:

• 3.84 g/t Au over 8.4 metres (M-4-88) 

• 3.05 g/t Au over 7.62 metres (M-12-87) 

• 2.66 g/t Au over 8.35 metres (M-25-87). 

Importantly, most of these historical intercepts occur at shallow depths and near surface, highlighting the potential for bulk-tonnage and open-pit style mineralization, subject to additional drilling and future economic studies.

Based on these results, Harvest Gold has expanded its understanding of the Northern area of Mosseau and believes it now generates an expanded opportunity and is contemplating a follow-up drill program in the northern portion of the Mosseau Property. The proposed program would consider up to 40 diamond drill holes totalling up to 6,000 metres to further test and expand these newly discovered Au-Ag-Cu halo zones.

About Harvest Gold Corporation

Harvest Gold is focused on exploring for near-surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold’s board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.

Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 377 claims covering 20,016.87 ha, located approximately 45-70 km west of Gold Fields Limited’s – Windfall Deposit (Figure 3).

Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories.  Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.

Harvest Gold’s three properties, Mosseau, Urban-Barry and LaBelle, together cover over 50 km of favorable strike along mineralized shear zones.

Click Image To View Full Size 

Figure 1: Northern part of Mosseau showing gold halos (metal factor)

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Figure 2: Northern part of Mosseau showing gold halos (metal factor) on magnetics

Table 1: Historical drill hole intersections with anomalous Au halos

Reported intervals are drilled core lengths (true widths have not yet been determined)

Click Image To View Full Size 

Figure 3: Project Location: Urban-Barry Greenstone Belt

NI 43-101 Disclosure – Historical Data

The historical drill results referenced in this news release were completed by previous operators and have not been independently verified by Harvest Gold Corporation. Although the Company considers the historical work to be relevant and reliable, it has not completed sufficient work to verify these historical results and does not rely on them for the purposes of this disclosure. The historical information is presented solely to provide context for current exploration results and ongoing exploration planning.

Qualified Person Statement

All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President and CEO
Harvest Gold Corporation

For more information please contact:

Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release includes certain statements that may be deemed ‘forward looking statements’. All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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