Regency Silver (TSXV:RSMX) has reported a new intercept of sulphide-specularite supported breccia at its Dios Padre project in Sonora, Mexico, as part of the company’s 2025 drill campaign. The update, released from Vancouver on December 8, 2025, outlines both geological observations and progress across four completed drill holes.

According to the company, follow-up hole REG-25-25 intersected 23.7 metres of sulphide-specularite breccia. The intercepted zone lies approximately 35 metres up-dip and along strike to the southeast from hole REG-23-21. Previous drilling in that area returned high-grade gold intervals, including 38 metres of 7.36 g/t gold from REG-23-21, 35.8 metres of 6.84 g/t gold with 0.88% copper and 21.82 g/t silver from REG-22-01, and 29.4 metres of 6.32 g/t gold from REG-23-14.

Regency Silver began the current drill program on October 10, 2025. Four holes, totaling 2,476 metres, have been completed so far. One of these was an extension of a vertical hole originally drilled in 2012. Maps showing drill-hole traces and their relationship to the projected breccia body were referenced in accompanying figures. Drilling of the fifth hole is scheduled to begin shortly, targeting the continuity of the breccia at shallower levels toward the historic Dios Padre silver mine.

Photographs from REG-25-25 show intervals with stronger mineralization, though the company emphasized that no analytical results for the 2025 holes are yet available. Without assays, Regency cautioned against directly comparing the newly drilled intervals to earlier holes. However, the geological characteristics—alteration, mineral species, and abundance—were described as consistent with zones that previously returned significant gold-copper-silver grades. The company pointed readers to press releases dated February 23, 2023, and November 2, 2023, for assay details from earlier programs.

A new geological feature was also identified in REG-25-25: mineralized shingle breccia was encountered on both sides of a newly intersected quartz-feldspar porphyry (QFP). Regency described the porphyry units as important at Dios Padre because they create brecciation and serve as fluid pathways for sulphide mineralization. The newly identified QFP body appears to correlate with an interval at the bottom of REG-23-21, and the company intends to follow the porphyry up-dip toward the historic mine. Regency characterized the identification of additional QFP zones as a meaningful step in locating more Au-Cu-Ag mineralization across the property.

Summary of Additional Drill Holes

Three other holes from the current program were outlined:

• DP-01-2012_EXT: This hole extended a historic 2012 drill hole beyond the original termination at 300 metres. After passing the historic depth, broad zones of disseminated and vein-hosted sulphide mineralization were intersected, confirming the system’s extension to the northwest. It did not intersect the high-sulphide breccia body. Results are pending.
• REG-25-23: Aimed at extending the breccia southeast at depths below REG-23-21, this hole encountered broad zones of disseminated and locally vein-hosted sulphides between roughly 550 and 670 metres (120 metres). It did not intersect the high-sulphide breccia body. Results are pending.
• REG-25-24: Also targeting a southeast extension at depths between REG-23-21 and REG-25-23, this hole intersected broad disseminated and vein-hosted sulphide mineralization from 400 to 514 metres. The mineralized zone terminated abruptly after a fault at about 515 metres, and significant mineralization was not observed beyond that point. Results are pending.

The company noted that hole orientations were adjusted during the 2025 program to achieve intersections closer to true width, now that the breccia body’s geometry is better understood. Due to local topography, collar elevations were shifted upward, extending the overall hole lengths. Intersections are estimated to represent 70–100% of true thickness.

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