Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Tier One Silver Inc. (TSXV: TSLV) (OTCQB: TSLVF) ("Tier One" or the "Company") is pleased to announce the renewal and notarization of its social access agreement with the Chipispaya community at its flagship Curibaya project in southern Peru. The agreement, now in effect through December 11, 2025, can be extended with community assembly approval. As part of the agreement, Tier One has committed to continuing to support local employment and training initiatives.
Located on a prolific copper porphyry belt, the 17,000-hectare Curibaya project hosts both high-grade silver, gold and copper exploration potential. Despite extensive mineralization indicators, only a fraction of the property has been explored. Six distinct silver-gold mineralized corridors and a compelling porphyry copper target have been identified. The Company is now preparing for its next drill campaign, planned to focus on expanding its highest-priority silver - gold target: the Cambaya area.
"We are deeply committed to building sustainable, long-term relationships with the Chipispaya community, which are foundational to our success at Curibaya," said Peter Dembicki, President & CEO of Tier One Silver. "Curibaya continues to demonstrate exceptional potential as a premier silver and gold exploration project, and we're excited to be entering this next phase with strong community support and compelling drill targets. With high-grade results from surface sampling and the first phase drilling campaign, and a strong, continued relationship with the Chipispaya community, we are more confident than ever in the opportunity ahead and we look forward to continuing our shared progress as we ramp up exploration activities at the project."
Cambaya Area
The Company's recent surface exploration campaign at Cambaya was designed to strengthen the hypothesis that this area represents the optimal zone within a well-preserved epithermal system. Channel sampling and geological mapping successfully delineated new drill targets in preparation for the Company's next drill program, currently targeted for Q3 2025, subject to financing.
Highlights from previous channel sampling include:
These high-grade intercepts reinforce the potential of Cambaya to host significant precious metals mineralization.
Table 1: Highlights from previous channel sampling completed in the Cambaya corridors (see news releases dated October 14, 2021, September 26, 2022, and October 21, 2024):
Channel ID
From (m)
To (m)
Length (m)
AgEQ (g/t)
Ag (g/t)
Au (g/t)
21CRT-34
26.0
37.0
11.0
360.7
232.1
1.61
Incl.
34.0
35.0
1.0
2,776.0
1,660.0
13.95
21CRT-36
19.0
28.0
9.0
442.1
409.0
0.41
Incl.
22.0
25.0
3.0
1,015.0
949.7
0.82
21CRT-44
6.0
8.0
2.0
1,116.0
1,074.0
0.53
21CRT-52
8.0
10.0
2.0
1,865.3
1,736.5
1.61
Incl.
8.0
9.0
1.0
3,330.0
3,170.0
2.00
21CRT-55
4.0
24.0
20.0
299.3
242.7
0.71
21CRT-56
2
10
8
385.8
349.1
0.46
Incl.
6
7
1
2,931.2
2,680.0
3.14
22CRT-080
2.5
7
4.5
526.9
408.2
1.48
Incl.
2.5
3.5
1
2,274.0
1,768.0
6.33
22CRT-101
0.5
3.0
2.5
202.3
136.4
0.82
Incl.
2.5
3.0
0.5
837.6
568.0
3.37
24CRT-164
1
2
1
158.7
151.5
0.09
Incl.
1
1.5
0.5
291.2
280.0
0.14
24CRT-167
0.5
2
1.5
3,233.7
3,095.6
1.72
Incl.
1
1.5
0.5
9,280.4
8,950.0
4.13
24CRT-168
1
1.5
0.5
229.8
185.0
0.56
24CRT-169
0.5
1.5
1
170.5
161.7
0.11
Incl.
0.5
1
0.5
305.6
292.0
0.17
24CRT-172
1
1.5
0.5
392.4
262.0
1.63
24CRT-173
0.5
1
0.5
258.6
233.0
0.32
Internals >= 75ppm AgEQ Metal price used for Eq calculations: Ag US$25/oz, Au US$2,000oz. AgEq figures are before any reduction for metallurgical recoveries (see additional technical disclosures below)
Figure 1: Illustrates location of 2024 channel sampling (highlighted in yellow), a geophysical MAG map of the Curibaya area and the location of the two main corridors, Cambaya I and Cambaya II.
Mapping and sampling results from 2024 at Cambaya, in combination with the historical surface and drilling data (see news release dated November 18, 2021, and February 14, 2022), has identified twenty (20) preliminary targets and drill pad locations (Figure 2).
Figure 2: Illustrates the preliminary drill holes planned for the Company's next drill campaign.
The Company is also announcing that it has closed its non-brokered private placement, as announced on November 20, 2024, and amended on December 19, 2024, in which one tranche was completed and announced on January 3, 2025. There were no additional tranches completed.
Qualified Person
Christian Rios (SVP of Exploration), P.Geo, is the Qualified Person who has reviewed and approved the technical contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.
Peter Dembicki President, CEO and Director
For further information on Tier One Silver Inc., please contact the Company at (778) 729-0700 or visit the Company's website: www.tieronesilver.com.
Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and copper deposits in Americas. The Company is focused on its flagship exploration project, Curibaya. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success.
Channel Sampling - Curibaya Analytical samples were taken from each 0.5-1.0 metre interval of channel floor resulting in approximately 2-5 kg of rock chips material per sample. Collected samples were sent to ALS Lab in Arequipa, Peru for preparation and then to ALS Lima, Peru for analysis. All samples are assayed using 30 g nominal weight fire assay with atomic absorption finish (Au-AA25) and multi-element four acid digestion ICP-AES/ICP-MS method (ME-MS61). Where MS61 results were greater or near 10000 ppm Cu, 10000 ppm Pb or 100 ppm Ag the assay was repeated with ore grade four acid digestion method (Cu, Pb, Ag-OG62). Where OG62 results were greater or near 1500 ppm Ag the assay was repeated with 30 g nominal weight fire assay with gravimetric finish (Ag-GRA21). QA/QC programs for 2021 and 2022 channel samples using internal standard and blank samples; field and lab duplicates indicate good overall accuracy and precision.
The Company has disclosed estimated silver equivalent grades where channel samples contained more than one mineral in addition to silver. These silver equivalent grade estimates were not adjusted downwards to reflect the fact that metal mining and processing always results in a loss of metal content from in-situ grades. The disclosed silver grades, while indicative of the presence of metal mineralization, cannot be relied upon for any kind of economic assessment of the mineralization until metallurgical recovery studies have been completed and a range of likely recovery percentages established and applied to the various metals in the mineralization. The Company estimates that metallurgical recoveries would be above 80% based on similar deposits in Peru.
Forward-Looking Information and General Cautionary Language
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events in connection with the Company's plans for future exploration, including drilling, at its Curibaya project. Forward-looking statements are not historical facts and therefore may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be heavily relied upon. These statements speak only as of the date of this news release.
Readers should refer to the risks discussed in the continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca.
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.
