Vancouver, British Columbia — January 20, 2026 — Leads & Copy — Grafton Resources (CSE:GFT; OTCQB: GFTFF) has announced it 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 in Chile.
The Silver One project, located in the historic Au-Ag-Cu mining district of Pedernal, hosts an undrilled and open-ended mineralizing system. The company aims to drill the site in the second half of 2026.
Campbell Smyth, CEO and Chairman of Grafton Resources, said the Silver One project is located in a well-established mining area and has the potential to be the next high-grade Ag-Cu deposit in the district. The project presents the opportunity to explore a high-grade silver-copper target well-suited for development, Smyth added.
Grafton Resources also announced that its common shares will commence trading under its new OTC ticker symbol “GFTFF,” effective today. The change from the previous symbol “PMSXF” to “GFTFF” is part of the Company’s ongoing efforts to align its U.S. market identity with its current corporate name and Canadian Securities Exchange ticker “GFT.”
According to Merlin Marr-Johnson, Technical Advisor, silver grades of almost 300 g/t in the waste material are encouraging. The hope is that the primary material is even higher grade, he added. Marr-Johnson also noted the high tenor of the target, coupled with good access, means that significant value can be created within a compact package.
The Silver One Project is centered on the San Lorenzo 1-18 concession. The area around Petorca, where the project is located, hosts nearly 90 ore bodies, mostly polymetallic veins, some copper veins, and one copper breccia pipe. The Silver One Project targets silver-copper-bearing sulphide vein systems historically exploited by underground methods.
Historic waste dump vein material averages 296 g/t Ag and 2.6% Cu. Ten pits 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.
Under the terms of the LOI, Grafton Resources proposes to acquire the Project in exchange for total deemed consideration of C$820,000, comprised of a cash payment of C$100,000 to the Vendor and 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 final structure of the Proposed Acquisition is subject to the negotiation and execution of a definitive agreement, completion of satisfactory due diligence, and the satisfaction of customary closing conditions.
Grafton Resources is focused on the discovery and development of mineral assets in the Americas. The Company intends to advance the Project through systematic technical review and disciplined exploration planning.
Gilberto Schubert (B.Sc., M.Sc., MBA, M.Sc. Min Ec.), 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.
Campbell Smyth
csmyth@graftonresources.com
+61403203402
Source: Grafton Resources
