High-Grade Silver in Mexico, But Can it Become a Meaningful Resource? | Advance Metals CEO Interview

**SPEAKER_1** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today in the CEO BBQ, at least 33 million ounces of silver equivalent in Mexico, together with Advance Metals.
But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter. Now, although this company has paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and impersonal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on Sitterplus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, Advance Metals' flagship asset is the Yoquivo Silver Gold Project, which located roughly 210 kilometers southwest of Chihuahua in Mexico's Sierra Madre volcanic belt, in the Sierra Madre Occidental, if you will. Now, this is, as you might expect, for this part of the world, a low-sulfidation epithermal vein system where they've reported an inferred resource of 33 million ounces of silver equivalent in April of 2026 This is a JORC-compliant resource, and silver accounts for about 70 percent of that equivalent based on the contained metals values. The team is currently running step-out drilling to test extensions along strike and at depth while resampling some of the historic core to tighten the geological model, which of course we'll touch upon later on. The main near-term catalyst for this project are additional drill results through the balance of 2020-2026 and a potential resource of the later this year, which of course I'll be asking about as well. Beyond the flagship, Advance also has multiple more assets. They've got three more assets, varying levels of activity, varying level, different assets, varying levels of historic work on them as well. In Durango still, they have Gavilanes.
Gavilanes, thanks, Adam. I'll get it by the end of the conversation. Gavilanes carries a foreign estimate of 22.4 million ounces of silver equivalent, where Maiden Diamond Drilling started earlier this year to test extensions ahead of a planned conversion. So again, it's a foreign estimate, so they can have to convert it to Aussie standards, to a Jork resource, hopefully later in 2026 They also have the, and I'm going to try my best now, the Guadalupe Icalvo in Chihuahua. That sounded pretty okay, which holds a larger foreign estimate, but remains larger at the permitting stage with limited groundwork happening there, or at least limited groundwork having happened by advance so far as well. But of course, I'll be asking about that in a few minutes as well.
They also still have some stuff in Australia, in Victoria, called the Myrtle Ford and Beau Ford projects, which host orogenic gold mineralization. And they're now moving toward full ownership through stage payments while following up on some of the drill results that they saw there recently, all of which, by the way, I know it sounds like a lot, it's four projects, but I'll try to touch upon all of them later on in the conversation, trying to make it simple. Now for some of the numbers and a bit of the details here, Advance Metals, as I mentioned, it's an Aussie company, so they're listed on the ASX under the tick symbol AVM, where the average daily volume over the last three months has been about three million units. The 52 week high is 20 cents and a 52 week low is three and a half cents. With a little under 479 million shares outstanding and a 17 and a half million Aussie dollar market cap today, this is a 7 cent stock with a 50 and a 208 moving average at 8 and 11 cents respectively. So the stock is now trading right below those two. There are 158 million listed options outstanding and 127 million unlisted securities, which combined represent about 37% of the fully diluted 767 million shares.
The last time Advance raised money was in early October, in 2025, so it's been a while. They completed a $13 million private placement with some associated options.
Approved with that, it was in connection with the deal. So broker options and options linked to the tranches along with some performance rights and for directors and so on and so forth that we'll touch upon. But how much of that money do they have left now? What work does it buy them? And will they have to be back to the market before the end of this year? Earl questions that I'll be asking later on in the conversation. But for this to actually become a conversation though, I will unfortunately have to shut up already. And Adam, I'll give you the word here. But first of all, thank you for sitting down with me today.