Vancouver, British Columbia — January 20, 2026 — Leads & Copy — FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) has announced an update on its proposed acquisition of three silver-focused exploration projects in New South Wales, Australia.
The projects, known as the Carrington Project, the Stony Creek Project, and the Dartmoor Project, are collectively referred to as the “Silver Projects.”
Southern Star Pty Ltd., the vendor of the Silver Projects, has received notification from NSW Resources regarding the conditional grant of exploration licenses for the Carrington, Stony Creek, and Dartmoor Projects. The licenses are granted for a period of six years, subject to the payment of applicable security deposits of A$10,000 per exploration license, and annual rental fees totaling A$9,960.
First Andes has prepared a staged exploration plan to systematically advance the Silver Projects, following the conditional grant of the exploration licenses and the increase in silver prices. The company intends to initiate fieldwork with soil and stream-sediment geochemistry to prioritize targets for follow-up surface work and potential future drill testing upon completion of the acquisition.
Colin Smith, CEO of First Andes Silver Ltd., stated the company is pleased with the progress toward securing these prospective exploration licenses in New South Wales. Smith added that with a lean, execution-focused team, First Andes can efficiently advance two diverse exploration programs with tight cost control.
Smith said this would drive early-stage target generation in Australia while continuing to build momentum at Santas Gloria in Peru. First Andes’ drilling has reported high-grade silver across multiple vein systems, and the company is now executing property-wide, systematic exploration designed to prioritize the next generation of drill targets, supported by a multi-kilometre zoned alteration target defined from WorldView-3 SWIR data.
The company anticipates completing the acquisition of Silver Projects within the next week, subject to final acceptance of the TSX Venture Exchange. Further transaction details are available in the company’s news release dated December 9, 2025.
The Carrington project covers a 160 km² exploration license application covering an iron-rich skarn system with Au-Ag-Pb-Sb mineralization. Historic mining at Carrington exploited laterally extensive mineralized gossans up to 6 meters wide, with rock chip sampling returning grades of up to 85 g/t Au, 6,037 g/t Ag, 24.8% Pb and 16.8% Sb.
The Stony Creek project covers a 247 km² license application situated in the Lachlan Orogenic Belt, hosting at least seven historic silver-gold mines and prospects. Historic rock-chip sampling has returned assays of up to 18.4 g/t Au and 212 g/t Ag, while historic drilling reported an intercept of 5 m grading 3.0 g/t Au.
The Dartmoor project covers a 47 km² exploration license application including two historic polymetallic mines. Small-scale historic production at Dartmoor reportedly averaged approximately 980 g/t Ag and 12% Cu.
Colin Smith, P.Geo., a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release. Smith serves as CEO and Director of First Andes Silver Ltd and owns securities of the company.
Colin Smith, CEO & Director
Phone: 604 806-0626 (ext. 108)
E-mail: info@firstandes.com
Source: First Andes Silver Ltd.
