Historic Silver Project in Nevada, But is it Economic at These Grades? | Prince Silver CEO Interview

**SPEAKER_1** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today we're gonna see you barbecue silver exploration in Nevada, together with Prince Silver Corp.
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 not 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, Prince Silver's flagship is a past producing CRDs or carbonate replacement deposit located in Lincoln County, that's in southeastern Nevada, so it's just to the north of Vegas, really. The company has been running an expanded RC drilling program through 2026 so far with recent holes returning broad polymetallic intercepts that include new gold zones at depth alongside an established, if you will, silver, zinc and lead manganese mineralization zone, which of course we'll be touching upon more in depth later on.
Management is using this work to tighten the geological model that they built from the historic database while also testing extensions beyond the old workings and trying to figure out what else is going on in the district. The main near-term catalyst for the company remain an MRE, hopefully by the end of this year of 2026, which would incorporate both the new drilling and then also that verified historic data that they work through. The project sits on a mix of a 100% owned unpatented claims and a patent and ground held under an option agreement that carries annual payments and does larger exercise costs once studies are completed, which hopefully I can get some more color on this in the conversation as well. Beyond this flagship asset, the company also holds the Stampede GAP porphyry, which is a copper gold porphyry. It's a copper gold molybdenum porphyry target, about 15 kilometers to the northwest, where it filed an NI 43.1.1 technical report earlier in 2026
The work there has stayed limited while drilling stays focused again on Prince. But maybe a brief update on this project later on as well. Now for some of the numbers and a bit of the details here, Prince is listed as Prince but without the vowels, so PRNC on the CSE in Canada, where the average daily volume over the last three months has been about 58,000 units. The 52-week high is 93 cents and the 52-week low is 34 cents. With a little over 59 million shares outstanding and a $24 million market cap, today this is a 40.5 cents stock with a 50 and a 200 day moving average at 59 and 61 cents respectively.
The stock is now trading just below those two. There are 13.6 million warrants outstanding and 3.8 million options, collectively representing about 23 percent of the fully diluted 76.3 million shares.
The last time they raised money was in February of this year, raising just under 5 million bucks with a half a warrant at a dollar sharp for two years, I believe, from the issuance. Those warrants do carry an acceleration provision on them, so they can shorten their life to 30 days if the share price trades at $1.40 for 10 consecutive days. Now, how far is that money going to get them, the 5 million bucks that they raised? What work is that going to buy them? And how do they plan on raising money going forward are all 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 Derek, I'll give you the word here. But first of all, thank you for sitting down with me today.

**Derek Iwanaka** (4:10)
Thank you so much. I'm glad to finally be on the show. I've been, I've watched a few of them in the past, and I think you do a great job, so I'm honored to be on.

**SPEAKER_1** (4:19)
Thanks. I think the first time you and I spoke must have been about B-Metals in up maybe what, three years ago or something like that. So it is.