Completion of Joaquin Project Acquisition

Unico Silver Limited (ASX:USL) has successfully completed the acquisition of the Joaquin Project, including the 100% ownership of the mineral claims comprising the Joaquin project and the mineral titles constituting the Cerro Puntudo project. This acquisition follows the previously announced proposed acquisition of Minera Joaquin S.R.L and the mineral titles, and after obtaining all necessary approvals and consents, as well as finalizing definitive legal agreements with Pan American Silver Corp.

Executive Commentary

The completion of the acquisition of the Joaquin Project marks a significant milestone for Unico Silver. This strategic move not only adds substantial scale and economic potential to our existing portfolio but also positions us for enhanced future development options. We are excited about the prospect of commencing a comprehensive exploration program on the advanced prospects within the acquired properties, with the aim of increasing the current estimates and publishing a maiden JORC (2012) MRE. The transaction also includes valuable camp infrastructure and a mining and access agreement valid until 2034, further solidifying our position in the region.

Summary of Acquisition and Outlook

Unico Silver Limited (ASX:USL) has successfully finalized the acquisition of the Joaquin Project, comprising the Joaquin and Cerro Puntudo properties, totaling 35,946Ha. The acquisition strategically situates the company 60km west of its Moz AgEq Cerro Leon resource, providing added scale and economic advantages. The company plans to conduct an extensive exploration program on four advanced prospects within the acquired properties, with the goal of boosting current estimates and publishing a maiden JORC (2012) MRE. The transaction also includes camp infrastructure and a mining and access agreement valid until 2034. While the estimates of mineralization are foreign estimates and not reported in accordance with the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (2012 JORC Code), the company is optimistic about the future potential and the opportunities this acquisition presents for its corporate strategy and development.