Silver Bow Mining Reports Initial Assay Results from Drill Program
First drill results confirm significant critical minerals enrichment and vein extensions well beyond the current inferred Mineral Resource Estimate.
BUTTE, Mont. — June 22, 2026 — (BUSINESS WIRE) — Silver Bow Mining Corp. (NYSE American: SBMT) announced today the assay results from the first two drill holes of its 25,000-foot surface diamond drilling program at the Rainbow Block Project in Butte, Montana.
Drill holes SBM26-01 and SBM26-02 comprise approximately 2,065 feet of diamond core drilling conducted above the water table. The results represent significant step outs from the existing inferred Mineral Resource Estimate as detailed in the Company’s S-K 1300 Technical Report Summary released May 2025 and updated February 2026. Drill hole SBM26-01 intersected mineralization from 640 to 1,980 feet beyond the current inferred Resource boundary along strike, while SBM26-02 extended from 930 to 2,270 feet beyond the boundary. Multiple veins intercepted in both holes lie entirely outside the current inferred Mineral Resource Estimate footprint, and in some cases, represent new veins which were previously unknown.
| Hole | Vein | Interval (ft) | Ag (opt) | Au (opt) | Zn (%) | Pb (%) | In (ppm) | Dist. to MRE (ft) |
|---|---|---|---|---|---|---|---|---|
| Precious metal enriched intervals | ||||||||
| SBM26-01 | Silver City | 7.0 | 16.10 | 0.012 | 0.11 | 0.79 | 0.07 | N/A |
| SBM26-01 | Edith May | 5.5 | 11.00 | 0.025 | 3.67 | 1.78 | 0.08 | 640 |
| SBM26-02 | Auraria | 2.0 | 10.88 | 0.011 | 0.22 | 0.15 | 0.03 | 2,270 |
| SBM26-01 | Auraria | 3.0 | 8.30 | 0.01 | 0.67 | 0.31 | 0.04 | 1,980 |
| SBM26-02 | Unnamed | 3.8 | 7.85 | 0.007 | 1.27 | 0.48 | 0.02 | N/A |
| SBM26-02 | Edith May | 3.7 | 3.30 | 0.015 | 0.01 | 0.02 | 0.04 | 930 |
| Base metal enriched intervals | ||||||||
| SBM26-01 | Badger | 11.9 | 3.00 | 0.007 | 11.23 | 4.84 | 9.38 | 1,175 |
| SBM26-02 | Badger | 3.8 | 1.58 | 0.027 | 7.90 | 1.00 | 86.7 | 1,590 |
| SBM26-01 | Unnamed | 2.5 | 0.35 | 0.001 | 5.32 | 0.78 | 14.9 | N/A |
| SBM26-01 | Unnamed | 6.2 | 2.90 | 0.007 | 3.78 | 1.73 | 1.61 | N/A |
| SBM26-02 | North Edith May | 2.5 | 1.25 | 0.006 | 3.54 | 1.61 | 0.24 | 955 |
| SBM26-01 | North Badger | 15.0 | 3.60 | 0.011 | 2.13 | 0.98 | 1.55 | N/A |
| SBM26-02 | Unnamed | 2.5 | 5.13 | 0.019 | 0.07 | 0.05 | 0.203 | N/A |
Metric equivalents (Table 2) and drill collar details (Table 3) are in the source release. True widths are estimated at 53–73% of reported interval widths in SBM26-01 and 60–80% in SBM26-02. The results represent intervals greater than the cutoff grade used to calculate the inferred MRE.
All the reported metals are U.S. government-designated Critical Minerals. Silver, zinc, indium, and lead are featured on the USGS Critical Minerals list, while gold has been designated a Critical Mineral via presidential Executive Order.
“The results from SBM26-01 and SBM26-02 strongly validate our geological model for the Rainbow Block vein system. Notable intercepts include 7.0 feet grading 16.1 oz/t silver in the Silver City Vein, 11.9 feet of 11.23% zinc with 9.38 ppm indium in the Badger Vein, and 3.8 feet of 7.9% Zn and 86.7 ppm indium also in the Badger Vein. These results demonstrate strong precious and base metal enrichment, with indium which potentially adds significant technical and economic upside to the project.”Phillip Nickerson, PhD — Vice President of Exploration
“These intercepts not only confirm the lateral extension of multiple modeled veins well beyond the current inferred Mineral Resource Estimate but also identify previously unmodeled veins. Importantly, these results highlight the substantial potential to grow our domestic supply of U.S. Government-designated Critical Minerals — silver, zinc, lead, indium, and others essential for semiconductors, photovoltaics, and defense. Buoyed by these early successes, we have immediately mobilized two additional surface diamond drill rigs to accelerate resource expansion along strike.”Travis Naugle — Chairman & CEO
The Company’s 25,000-foot drilling campaign is expected to continue through 2026 and is regulated by the Montana Department of Environmental Quality pursuant to Exploration License No. 00857.
Technical Information
All drilling and sampling were conducted under the supervision of qualified personnel. Samples were submitted to ALS Global in Elko, NV, an independent analytical laboratory, and analyzed using standard industry methods. Quality assurance and quality control procedures include the insertion of blanks, standards, and duplicates at regular intervals.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Phillip Nickerson, PhD, CPG, Vice President of Exploration of Silver Bow Mining Corp., who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Silver Bow Mining Corp.
Silver Bow Mining Corp. is a minerals exploration company advancing the Butte Mining District of Montana, targeting a broad suite of U.S.-designated Critical Minerals — including silver, copper, zinc, lead, manganese, germanium, gallium, antimony, bismuth, and indium — alongside gold. The Company holds approximately 4,193 acres of patented mineral claims and approximately 1,410 acres of surface lands across multiple claim blocks in this historically prolific district, including the flagship Rainbow Block.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, that address activities, events or developments the Company expects or anticipates will or may occur in the future are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Additional risk factors are discussed under the headings “Forward-Looking Statements” and “Risk Factors” in the Company’s Registration Statement on Form S-1, as amended, filed with the U.S. Securities and Exchange Commission on April 24, 2026, the Company’s Canadian prospectus dated April 29, 2026, filed on SEDAR+, and in other documents filed with securities regulators. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of the applicable release. Except as required by law, the Company undertakes no obligation to update forward-looking statements.