Vancouver, British Columbia — January 16, 2026 — Leads & Copy — Grafton Resources has entered into a non-binding letter of intent with Asesorias e Inversiones Sol SpA to acquire a 100% interest in the Silver One project located in Chile.
The Silver One Project is centered on the San Lorenzo 1-18 concession in the historic Au-Ag-Cu mining Pedernal district of the Petorca Municipality, central Chile. Access to the project is via established gravel roads from Chincolco and Pedernales, with short private-road access to the site. Historic work was carried out by Eagle Rock Resources SpA under a lease agreement with S.C.M. Cerro Pedernal Dos.
The Silver One Project targets silver-copper-bearing sulphide vein systems historically exploited by underground methods. The adit mouth is located at 332,252 E; 6,448,714 N (WGS 84, UTM Zone 19 South). Historic workings indicate the presence of structurally controlled mineralization hosted within volcanic and volcaniclastic sequences, with mineral assemblages consistent with Ag–Cu sulphide systems typical of the region. Work completed by Eagle Rock focused on integrating modern survey techniques with geological mapping and targeted sampling.
Campbell Smyth, Chairman, commented that Silver One offers the opportunity to explore a high-grade silver-copper target suited for development. Smyth added that the project is located in a mining area and has the potential to be the next high-grade Ag-Cu deposit in this district.
Grafton now has two projects in a premier mining jurisdiction. Smyth says that there is a global shortage of silver and copper assets with good grade, clean metallurgy and simple geometry. He also said that they plan to drill Silver One in the second half of 2026 and are currently building up their local exploration team and that Silver One is also accessed from the same logistical hub as the recently signed Alicahue Copper project offering further logistical synergies.
Merlin Marr-Johnson, Technical Advisor, commented that silver grades of almost 300 g/t in the waste material are encouraging and that it is hoped that the primary material is even higher grade. Marr-Johnson added that the high tenor of the target, coupled with good access means that significant value can be created within a compact package.
The underground mapping identifies that mineralized veins are hosted within grey volcanic breccias with reducing characteristics. A detailed evaluation of a historic waste dump combined trenching, systematic sampling, granulometric analysis, topographic surveying, 3D modelling, and volumetric estimation. Ten pits (1–3 m deep) and 24 samples defined an estimated 8,120 tonnes of historic mine waste, with average grades of approximately 96 g/t Ag and 0.80% Cu, calculated using a loose bulk density of 1.43 g/cm³.
The waste material was screened using a 5 cm mesh to obtain samples suitable for manual sorting. Vein material (silica–carbonate) was separated from host rock (andesite), and each fraction was sent to the laboratory for analysis as separate samples. The vein material showed sulphide mineralization dominated by tennantite–tetrahedrite, chalcocite–covellite, chalcopyrite, galena, and rare bornite. The veins include abundant barite and banded quartz, consistent with epithermal to mesothermal vein systems. 13.85 kg of vein material was assayed at AAA Laboratories and returned an average grade of 296 g/t Ag and 2.6% Cu.
Under the terms of the LOI, the Company proposes to acquire the Project in exchange for total deemed consideration of C$820,000 comprised of: (i) a cash payment of C$100,000 to the Vendor; and (ii) the issuance of 800,000 common shares in the capital of the Company to the Vendor at a deemed price of $0.90 per Consideration Share having an aggregate deemed value of C$720,000. The shares issued will be subject to voluntary escrow provisions and will be released over 36 months.
The company’s common shares will commence trading under its new OTC ticker symbol “GFTFF”, effective January 20, 2026.
Gilberto Schubert, a Qualified Person as defined by National Instrument 43-101 and an independent Technical Advisor to the Company, has reviewed and approved the technical information provided in this news release.
Grafton Resources is a Canadian exploration company listed on the Canadian Securities Exchange (CSE), focused on the discovery and development of mineral assets in the Americas.
Campbell Smyth
Interim Chief Executive Officer, Chairman and Director
csmyth@graftonresources.com
+61403203402
Source: Grafton Resources
