Zacatecas Silver Enters into Definitive Option Agreement to Acquire Multi-Asset Exploration Portfolio from Heliostar Metals

A) and B) Vein outcrops along Oso Negro Property. B) 150 m outcrop of quartz vein with 1.5 m wide. GNW

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VANCOUVER, British Columbia, June 08, 2026 (GLOBE NEWSWIRE) — Zacatecas Silver Corp. (“Zacatecas Silver” or the “Company”) is pleased to announce that it, through its subsidiary Desarrollos Mineros Zacatecas Silver, S.A. de C.V., has entered into a definitive option agreement (the “Definitive Agreement”) with Heliodor Metals, S.A. de C.V. and Minera Aurea, S.A. de C.V., being subsidiaries of Heliostar Metals Ltd., (collectively, “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”).

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Highlights

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Transaction Terms

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Under the terms of the Definitive Agreement, Zacatecas Silver has optioned a 100% interest in the Exploration Properties from Heliostar. In order to exercise the option, Zacatecas Silver will be required to:

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*A portion of the consideration, being 14%, will be deferred until certain mineral concessions have been duly registered. The registration of these concessions is pending due to delays in the Mexican government’s administrative processing, and is outside of Heliostar’s control. The parties anticipate the registration will be completed in due course and the full consideration will ultimately be delivered to Heliostar.

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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. The total number of Consideration Shares will be limited to 12,500,000 Consideration Shares (the “Share Cap”). If the value of the Share Cap is less than the total dollar amount under (b), Zacatecas Silver will pay, in cash, the difference between the amounts.

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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 purchased, 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.

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If Zacatecas Silver completes a change of control prior to the exercise of the option, all of the above noted share issuances and cash payments will be due immediately to Heliostar. In addition, if Zacatecas Silver disposes of the Cumaro mineral concession in certain circumstances, Zacatecas Silver will be required to pay to Heliostar: (i) if the disposition occurs during the first two years after the Effective Date, 50% of the value received from such disposition; and (ii) if the disposition occurs from two years to four years after the Effective Date, 25% of the value received from such disposition.

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Property Overview

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Oso Negro (Sonora, Mexico)

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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.

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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.

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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.

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Figure 1. A) and B) Vein outcrops along Oso Negro Property. B) 150 m outcrop of quartz vein with 1.5 m wide.

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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.

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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.

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Cumaro (Sonora, Mexico)

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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 Coeur 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.

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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).

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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.

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The Company plans an aggressive field mapping and sampling program, planned to commence immediately. A number of small artisanal adits are present on the property.

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Figure 4. 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.

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Figure 5. Old mining works at Cumaro property.

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La Lola (Sonora, Mexico)

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La Lola comprises nine concessions totaling approximately 1,183 hectares and provides district-scale exposure within a productive mining region of northern Sonora.

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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.

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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.

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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.

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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.

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Figure 6. A) Quartz-fluorite vein. B) Old mining works at La Lola.

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Ejutla (Oaxaca, Mexico)

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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 deposit 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.

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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/to 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 artesanal pits and shafts are present on the property.

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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 conjunction with gold-anomalous, altered and variably silicified limestones, strongly indicates that Carlin mineralization is a valid target type on the property.

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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.

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Figure 7. One of several high-level epithermal quartz veins on the property, all of which are largely unsampled and have never been drill tested.

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Figure 8. Variably silicified limestone with localized quartz veins.

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Engagement of Capital Gain Media

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Further to the Company’s news release dated April 17, 2026, the Company confirms that its engagement of Capital Gains Media Inc. to provide content development and digital marketing services for the Company will commence on the date of acceptance of the TSX Venture Exchange. The term of the services will be for a period of four months from the commencement date. In accordance with the terms and conditions of the investor relations agreement and as consideration for the services provided by Capital Gain, the Company agreed to pay an aggregate upfront cash fee of $250,000, plus applicable taxes.

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Capital Gain provides investor relation services and is based in Vancouver, B.C. Capital Gain’s principal is Graham Colmer. As of the date hereof, to the Company’s knowledge, Capital Gain (including its directors and officers) does not own any securities of the Company and has an arm’s-length relationship with the Company.

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About Zacatecas Silver Corp.

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The Company has two key projects: the Zacatecas Silver Project in Zacatecas State, Mexico, and The Esperanza Gold Project in Morelos State, Mexico.

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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).

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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.

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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).

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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.

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On behalf of the Company
Eric Vanderleeuw
Chief Executive Officer and Director
(519) 729 2440

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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.

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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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Photos accompanying this announcement are available at: 

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