Highlander Silver Corp. provided an update on the geological modelling work developed at La Estrella which will guide drill targeting in the upcoming drilling campaign. During Second Quarter 2023, Highlander Silver's technical team developed a drill defined near surface exploration target of 15 to 35 Mt averaging between 50 and 60 g/t Ag, and 0.4 to 0.6 g/t Au containing some 25 to 60 Moz Ag and 0.2 to 0.7 Moz Au1.

In Third Quarter and Fourth Quarter 2023, the team re-logged historic drill core and conducted geological mapping to develop an in-house geological model. The work focused on developing a comprehensive understanding of the controls on mineralisation to enable development of a prioritised set of targets for drill testing. The Company is now finalizing its drilling plan and is engaged in the drill permitting process.lander is targeting the end of Second Quarter 2024 for mobilizing the drill rig.

A large and strong alteration footprint, well mineralised historical drill intercepts and significant gaps in the historical drilling suggest excellent potential to improve on the numbers produced from exploration target modelling. The technical team, led by Leandro Echavarria, has done an excellent job with the geologic model, resulting in a vastly improved understanding of the deposit and of the controls on mineralisation. Highlander Silver has developed the technical foundation to execute a drill program with the best chances of success.

Regional Geology: The area is cut by a set of regional faults that control volcanism and emplacement of dome complexes. Both the Julcani mine (105 million ounces of silver produced from high grade vein mineralisation averaging 16 ounces per ton since production started by Buenaventura in 1953) and the La Estrella deposit are emplaced along the fertile Julcani-Huancayo fault. La Estrella sits at an important inflection zone on the fault, generating a transtensional structural setting which enabled shallow dome emplacement, hydrothermal activity and Ag-Au +-Pb+-Zn +-Cu mineralisation.

Hydrothermal alteration and mineralisation at La Estrella are associated with a dome complex intruded along transtensional zones, exploiting the rheologic contrast between limestones and red beds. DDH-E12, 182.5-183.5 m. 0.75 g/t Au, 216 g/t Ag, 7.06% Pb, 2.72% Zn. The understanding gained from development of the 3D geologic model enables targeting of the most prospective areas for economic mineralisation.

The upcoming drill program will have two main objectives: a) expand the zone of known Ag-Au mineralsation and b) target structurally favourable zones for high grade feeder potential. The Company looks forward to providing further updates over the coming weeks.