VANCOUVER, British Columbia, March 02, 2026 (GLOBE NEWSWIRE) -- Zacatecas Silver Corp. (“Zacatecas Silver” or the “Company”) is pleased to announce that it has entered into a binding agreement with Heliostar Metals Ltd. (“Heliostar”) to acquire a 100 percent interest in the Cumaro, La Lola, Oso Negro and Ejutla exploration properties located in Sonora, and Oaxaca, Mexico (collectively, the “Exploration Portfolio”).
The acquisition establishes a new district-scale exploration platform for the Company in a prolific mining jurisdiction and adds four high-impact discovery opportunities to Zacatecas Silver’s pipeline. The portfolio provides near-term drill targeting potential while also offering longer-term strategic value within active and consolidating mining districts.
Highlights
- Acquisition of high-grade, multi-asset exploration portfolio from Heliostar Metals, significantly expanding Zacatecas Silver’s Mexican growth platform across premier mining jurisdictions in Sonora and Oaxaca.
- Oso Negro represents a compelling, undrilled high-grade discovery opportunity, with high-grade gold and silver across multiple multi-metre vein systems with strong depth potential.
- Cumaro strategically positioned along strike from Coeur Mining’s active El Picacho development, hosting extensions of proven low-sulphidation epithermal vein systems within a rapidly advancing district.
- La Lola provides district-scale exposure (1,183 hectares) anchored by a 5 km vein system up to 40 metres wide.
- Ejutla adds a substantial 10,603-hectare land position near the San Jose Mine, formerly owned by Fortuna Mines, hosting multiple high-level epithermal veins and potential Carlin-style mineralisation, with strong historical indications of gold-silver mineralization and extremely anomalous pathfinder elements.
Property Overview
Oso Negro (Sonora, Mexico)
Oso Negro is a high-priority, undrilled exploration opportunity located within a historic mining district characterized by high-grade precious metal mineralization. Heliostar’s previous channel sampling program included 5.15 g/t Au and 953 g/t Ag over 1.2m, 2.55 g/t Au and 346 g/t Ag over 1.8m and a grab sample of 13.3 g/t Au and 534 g/t Ag over 0.6m (see news release dated June 3, 2021 of Heliostar), demonstrating a robust mineralizing system. Significantly, grades are relatively consistent along the strike of the various veins.
The project hosts at least four principal veins with average widths of approximately 3 metres and a number of subsidiary veins, including the El Sahuaro, El Prospecto, Santa Rosa, Del Monte, Tere and El Manchuri veins. Veins can be traced along strike over several hundred metres.
Exposed mineralization is of an intermediate sulphidation epithermal style which has been extensively oxidized at surface. A number of small-scale, artisanal, historical workings and shallow shafts were noted along the major veins. In addition to strong silver and gold values, the presence of visible sphalerite and galena in rock-chip samples, indicates multi-metal potential typical of this deposit style. Intermediate sulphidation epithermal deposits are an important source of gold, silver and base-metal sulphides in Mexico, and well understood, and typically have depth extensions of between 500 to 1000 m, making for exceptional exploration targets.
Zacatecas plans to commence an aggressive sampling and mapping program in March of 2026. The property is held by private landowners thus streamlining access agreements.
Figure 1. A) and B) Vein outcrops along Oso Negro Property. B) 150 m outcrop of quartz vein with 1.5 m wide.
Figure 2. A) Quartz vein outcrop at Oso Negro property. B) and C) quartz textures from shallow levels of the epithermal system. B) crustiform texture C) boxwork texture.
Figure 3. View to the southeast along the Los Fresnos Vein. The vein is up to 3 m wide and is well defined over 100’s of metres of strike length.
Cumaro (Sonora, Mexico)
The Cumaro project combines exploration upside with meaningful strategic positioning. The five square kilometre claim lies along trend from Coeur Mining’s El Picacho property, where active satellite mine development and drilling programs are underway. This activity by Couer Mining underscores the prospectivity of the district and enhances the strategic context of the asset. Cumaro hosts extensions of the El Picacho, Dos Amigos, and Basaitegui vein systems.
Mineralization is of a multiphase, low sulphidation epithermal type characterised by quartz veins formed within normal fault structures. Vein widths are typically between 1.5 to 3 metres and are associated with localized surface gold anomalies. Highlights of previous channel sampling program included 11.9 g/t Au and 130 g/t Ag over 1.65m and 11.5 g/t Au and 125 g/t Ag over 1.75 m, and 10.3 g/t Au and 158 g/t Ag over 5.0 m (see news release dated September 28, 2021 from Heliostar).
A shallow 11 hole diamond drill program by Heliostar focused primarily on the Verde vein. Site observations by the Company indicate that portions of the claim exhibiting strong alteration and quartz veining which has never been drill tested. Quartz textures, alteration assemblages and gangue mineralogy indicate erosion of the uppermost portions of a low sulphidation epithermal system, strongly indicating preservation boiling zones and deeper parts of the epithermal system.
The Company plans an aggressive field mapping and sampling program, planned to commence immediately following first pass reconnaissance of the Oso Negro concession. A number of small artisanal adits are present on the property.
Figure 3. A) Strong argillic alteration and oxidation at central part of Cumaro property. B) Multiphase, brecciated and oxidized quartz vein outcrop at Cumaro property, surrounding alteration zone.
Figure 4. Old mining works at Cumaro property.
La Lola (Sonora, Mexico)
La Lola comprises nine concessions totaling approximately 1,183 hectares and provides district-scale exposure within a productive mining region of northern Sonora.
The property hosts multiple historical veins, shafts, and alteration zones, confirming the presence of a large epithermal system. The surrounding region includes several producing and advanced-stage projects, including Bear Creek Mining’s Mercedes Mine, First Majestic Silver’s Santa Elena Mine, Coeur Mining’s Las Chispas deposit, Silver Tiger Metals’ El Tigre project, and Grupo Mexico’s La Caridad Mine. Mineralization on these projects are not necessarily indicative of mineralization at La Lola.
The most prominent structure on the property is the La Barra vein, a five kilometre long quartz carbonate fluorite vein that reaches up to 40 metres in width in outcrop and displays quartz vein textures, alteration assemblages and gangue mineralogy consistent with the uppermost parts of a low sulphidation epithermal system and thus preservation of the entire low sulphidation system at depth.
Historical rock-chip grab sampling demonstrates the system has the potential to host high grade gold and silver mineralization. Historical small-scale mining activity primarily on near-surface fluorite extraction. Several additional vein zones have been identified but remain underexplored and represent further discovery potential.
La Lola is a large and under-explored system, that will be the focus of an aggressive first pass rock-chip sampling and mapping program.
Figure 5. A) Quartz-fluorite vein. B) Old mining works at La Lola.
Ejutla (Oaxaca, Mexico)
The Ejutla project comprises 10,603-hectares within the prolifically mineralized Oaxaca region of southern Mexico. The region has a diverse metallogenic history and ore depsoit types. Ejutla occurs within the Taviche-Miahuatlán region of Central Oaxaca which hosts numerous precious and base metal epithermal and skarn deposits and has a long history of mining.
The property is located approximately 20 km to the east of the San José-Trinidad mine (formerly owned by Fortuna and 25 km to the west Gold Resources' El Águila mine. Limited exploration has defined several, structurally-controlled vein systems, that are highly anomalous in gold-and silver. Limited historical channel sampling returned peak assays that included 0.412 g/t Au and 701 g/t Ag over 0.6m, 0.013 g/t Au and 664 g/t Ag over a 5m interval and 1.26 g/t Au and 14 g/t Ag over 1.8m interval (see news release dated June 2, 2014 of Newstrike Capital Inc.). Anomalous gold mineralization is also associated with altered and variably silicified limestones.A number of small scale artesenal pits and shafts are present on the property.
Historical exploration assays were notable for very high arsenic and antimony values, and moderately high mercury values (see technical report filed by Newstrike Capital Inc. on September 26, 2014 on SEDAR+). These presence and grades of these path-finder elements is characteristic of the highest levels of low sulphidation epithermal vein systems, and occur above precious metal intervals, at the top of the system. The pathfinder mineralogy is also consistent with Carlin style mineralization, which in conjuction with gold-anomalous, altered and variably silicified limestones, strongly indicates that Carlin mineralization is a valid target type on the property.
Given the very high level signature of pathfinder geochemistry and vein textures, extensive veins and areas of altered limestone, highly anomalous gold and silver grades, and the fact that the concession is largely unexplored, confirms that Ejutla is a high priority exploration project with clear indications of potential to host significant low sulphidation epithermal and/or Carlin style precious metal mineralization.
Figure 6. One of several high-level epithermal quartz veins on the property, all of which are largely unsampled and have never been drill tested.
Figure 7. Variably silicified limestone with localized quartz veins.
CEO Commentary
“This acquisition significantly strengthens our strategic positioning in Mexico and adds meaningful depth to our exploration pipeline. Oso Negro represents a high-priority, undrilled discovery opportunity with compelling geological indicators, while our proximity to Coeur Mining’s active satellite mine development that rims the Cumaro project provides important strategic context and highlights the regional prospectivity of the district. At La Lola, we gain a large, optionality-driven land package with district-scale upside. Lastly, the Ejutla asset in Oaxaca, adds a substantial 10,603-hectare land position near the San Jose Mine, formerly owned by Fortuna Mines, with multiple significant veins and strong historical indications of gold-silver mineralization.
Just as importantly, acquiring this exploration portfolio from Heliostar establishes a strong strategic relationship with a respected and technically capable group, aligning them as an equity partner and reinforcing our long-term growth strategy as we advance our assets. Collectively, these properties give us a multi-asset platform capable of generating near-term catalysts while building sustainable long-term value.
With drilling imminent at our flagship Zacatecas Silver Project, this acquisition transforms Zacatecas Silver into a strategically positioned, multi-asset exploration company with a compelling portfolio capable of generating sustained discovery momentum and long-term shareholder value, while being underpinned by two significant established resources.”
Eric Vanderleeuw
CEO and Director
Transaction Terms
Under the terms of the agreement, Zacatecas Silver has agreed to option a 100% interest in the Exploration Properties from Heliostar. In order to exercise the option, Zacatecas Silver will be required to:
(a) pay US $450,000 to Heliostar as follows: (i) US $150,000 on the date that is the earlier of entering into a definitive option agreement or March 31, 2026 (the “Effective Date”); (ii) US $100,000 on the first anniversary of the Effective Date; (iii) US $100,000 on the second anniversary of the Effective Date; and (iv) US $100,000 on the third anniversary of the Effective Date;
(b) issue US $750,000 common shares of the Company (the “Consideration Shares”) to Heliostar as follows: (i) US $300,000 of Consideration Shares on the Effective Date; (ii) US $150,000 of Consideration Shares on the first anniversary of the Effective Date; (iii) US $150,000 of Consideration Shares on the second anniversary of the Effective Date; and (iv) US $150,000 of Consideration Shares on the third anniversary of the Effective Date.
The Consideration Shares under (b)(i) will be issued at the Market Price (as that term is defined by the rules of the TSX Venture Exchange). Further, the Consideration Shares under (b)(ii), (iii) and (iv) will be issued at the greater of the Market Price and the ten-day volume weighted average price immediately prior to the applicable share issuance. All Consideration Shares will be subject to restrictions on resale for a period of four months from the date of issue.
Upon exercise of the option, Zacatecas Silver will grant a 2% net smelter return royalty on the Exploration Properties, of which 50% of the royalty may be purchase, at any time before commercial production, with a one-time payment of US $2,000,000. Three mining concessions are currently subject to the following underlying royalties: (i) the La Barra mining concession is subject to a 1% net smelter royalty, which may be purchased with a one time payment of US $500,000, (ii) the Edaena mining concession is subject to a 1% net smelter return royalty, which may be purchased with a one-time payment of US $250,000, (iii) the Cumaro mining concession is subject to a 1% net smelter return royalty, of which 50% may be purchased with a one-time payment of US $1,000,000.
Closing of the Transaction is subject to customary conditions as well as TSX Venture Exchange approval. The parties intend to enter into enter into a definitive agreement prior to closing of the transaction.
About Zacatecas Silver Corp.
The Company has two key projects: the Zacatecas Silver Project in Zacatecas State, Mexico, and The Esperanza Gold Project in Morelos State, Mexico.
The Zacatecas Silver Project is located in Zacatecas state, Mexico, within the highly prospective Fresnillo silver belt, which has produced over 6.2 billion ounces of silver. The Company holds 7,826 hectares (19,338 acres) of ground that is highly prospective for low-sulphidation and intermediate-sulphidation silver base metal mineralization and potentially low-sulphidation gold-dominant mineralization. The Company announced an increase in silver resource at the Panuco South and North underground Mineral Resource Estimate now consisting of 3.41 million tonnes at 187 g/t AgEq (173 g/t Ag and 0.18 g/t Au) for 20.5 million ounces AgEq (19.0 million ounces silver and 19.2 thousand ounces gold) (see news release dated May 31, 2023).
The silver property is 25 kilometres (km) southeast of MAG Silver Corp.'s Juanicipio Mine and Fresnillo PLC's Fresnillo Mine. The Property shares common boundaries with former Pan American Silver Corp., now Defiance Silver claims and El Orito, which is owned by Endeavour Silver.
Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico. Alamos has progressed the project through advanced engineering, including metallurgical work, while also focusing on stakeholder engagement, including building community relations. The Company announced a Mineral Resource Estimate at Esperanza consisting of a Measured and Indicated Mineral Resource Estimate of 30.5 million tonnes at 0.97 g/t AuEq for 956 thousand ounces AuEq and an Inferred Mineral Resource estimate of 8.7 million tonnes at 0.98 g/t AuEq for 277 thousand ounces AuEq (see news release dated November 16, 2022).
Qualified Person
The technical information in this news release has been reviewed and approved by Chris Wilson, B.Sc. (Hons), PhD, FAusIMM (CP), FSEG, FGS, Chief Operating Officer of Zacatecas Silver. Dr. Wilson is a Qualified Person as defined by NI 43-101 and is not independent due being Chief Operating Officer and a director.
On behalf of the Company
Eric Vanderleeuw
Chief Executive Officer and Director
(519) 729 2440
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zacatecas Silver cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zacatecas Silver’s limited operating history, its proposed exploration and development activities on is Zacatecas Properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zacatecas Silver does not undertake to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
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