Mithril Appoints James Barr as Vice President, Exploration

(TheNewswire)

Melbourne, Australia and Vancouver,Canada – TheNewswire- March 2, 2026 - Mithril Silver and Gold Limited ("Mithril” or the"Company") (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF)is pleased to announce the appointment of JamesBarr, P.Geo., as Vice President, Exploration, effectiveimmediately.

Mr. Barr brings more than 20 years of internationalmineral exploration and mine development experience, with deepexpertise in Mexico’s epithermal gold-silver systems. Most recently,he served in senior leadership roles at SilverCrest Metals Inc.,culminating as Interim Vice President, Exploration, where he played akey role in advancing and expanding the Las Chispas Mine in Sonora,Mexico. SilverCrest was acquired by Coeur Mining in February 2025 in atransaction valued at approximately US$1.7 billion.

At SilverCrest, Mr. Barr was instrumental in drivingmineral resource growth, leading mine geology and regional explorationteams, implementing rigorous QA/QC and data management protocols, andsupporting corporate technical due diligence that contributed to thecompany’s valuation and successful acquisition.  He has had bootson the ground at dozens of projects and producing mines throughoutMexico, and previously acted as Project Manager and Qualified Personon several  NI 43-101 technical studies within Mexico’s SierraMadre Occidental, including Santa Elena (leading into acquisition byFirst Majestic Silver in 2015) further strengthening his track recordin advancing high-grade precious metals projects from discoverythrough production.

Mr. Barr is a Registered Professional Geoscientist(British Columbia) and holds a Bachelor of Science (Honours) degreefrom the University of Waterloo. He has extensive working experiencefrom projects located throughout Canada, United States, Africa andEurope in underground narrow-vein systems, open pit and heap leachoperations, mineral resource estimation, technical reporting, andstrategic exploration planning.

“James is ahighly respected exploration leader with a proven track record inMexico, particularly in high-grade epithermal systems similar to thosewe are advancing at Copalquin,” commented JohnSkeet, Managing Director and CEO of Mithril. “His direct experience at Las Chispas,from resource growth through mine ramp-up and ultimately to asuccessful billion-dollar acquisition, brings exactly the type oftechnical depth and operational insight we need as we scale ourexploration efforts. We are thrilled to welcome him to the Mithrilteam.”

Mr. Barr’s appointment strengthens Mithril’stechnical leadership as the Company continues to advance explorationacross its Copalquin Gold-Silver District in Durango, Mexico,including ongoing drilling and regional target development.

In connection with Mr. Barr’s appointment, theCompany will issue a total of 800,000 Stock Options.  The Options have an exercise price of $1.07 AUD per Optionand an expiry date of 1 September 2028. The exercise price is apremium of 193% to the closing price of the Company’s shares astraded on ASX on 27 February 2026.

ABOUT THE COPALQUIN GOLD SILVERPROJECT

The Copalquin mining district is located in DurangoState, Mexico and covers an entire mining district of 70km2 containingseveral dozen historic gold and silver mines and workings, ten ofwhich had notable production. The district is within the Sierra MadreGold Silver Trend which extends north-south along the western side ofMexico and hosts many gold and silver districts.

Multiple mineralisation events, young intrusivesthought to be system-driving heat sources, widespread alterationtogether with extensive surface vein exposures and dozens of historicmine workings, identify the Copalquin mining district as a majorepithermal centre for Gold and Silver.

Within 15 months of drilling in the Copalquin District,Mithril delivered a maiden JORC mineral resource estimate at the firstof several target areas (Target 1), demonstrating the high-grade goldand silver resource potential for the district. This maiden resourceis detailed below (see ASX release 17November 2021)^ and a NI 43-101Technical Report filed on SEDAR+.

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