Cartier Silver Corporation announced that geophysical and geological work by the Company has outlined an epithermal silver polymetallic target over an area of 800m by 500m on the Gonalbert Property, which forms part of the Los Chorrillos (Gonalbert-Felicidad) Silver Project ("Los Chorrillos" or the "Project"), in the Potosi Department, Southern Bolivia, held by Minera Cartier Bolivia S.R.L., Cartier Silver's Bolivian subsidiary. This program follows recommendations contained in the "Property of Merit" technical report dated May 5, 2023, authored by Micon International Limited ("Micon"), which is filed on SEDAR and available on the Company's website. Geologically, the property is underlain by Ordovician sedimentary rocks that have been intruded by a Miocene dacitic dome which includes tuffs, breccias and intrusive dacite.

The intrusion, which is approximately 1,300m by 600m wide, hosts epithermal Ag-Pb-Zn mineralization along structures cutting this intrusion. Until recently, an artisanal mining operation was active near the intersection of two major faults, with a small plant processing approximately 20 t/day. The head grade was reported to be around 180 g/t Ag, yielding a concentrate of about 1,300m/t Ag (Micon, 2023).

Geological mapping, sampling, and trenching are being carried out on these artisanal working areas and other surface showings - assay results from this work are pending. Magnetic and Induced Polarization survey data provide the first exploration information to a depth of approximately four hundred meters below where mineralization has been known since colonial times. Previous exploration was limited to surface trenches and artisanal workings.

The magnetic map for the property shows that magnetic susceptibility is enhanced near a pair of northwest and north-northwest trending faults that intersect where artisanal mining has occurred for silver, lead and zinc. This close association of the magnetic mineralization with the intersecting faults is defined more clearly on the Analytical Signal (ASIG) map. Micon's report refers to pyrrhotite in association with the “argentite, galena and zincblende” mineralization so these early results suggest that the magnetic survey may be able to detect the fault-controlled sulphide mineralization directly. An Induced Polarization and Resistivity survey was carried out on seven lines in the central part of the Gonalbert concession using a conventional N=8 x 50m pole-dipole array followed by N=4 offset 100m dipoles to obtain chargeability and resistivity data to a depth approaching four hundred meters.

Resistivity data show distinct lows that coincide with the faults interpreted from the magnetic data and rugged topography. An IP chargeability anomaly surrounding the structures covers an area of 800m by 500m and extends to a depth of at least 400m, the depth limit of the survey. Chargeable mineralization coincides with the enhanced conductivity along both fault traces.

The chargeability becomes stronger at depths greater than 100m, below a depleted, near-surface zone where sulphide mineralization has been extensively oxidized.