Olympio has signed a Binding Agreement with Scout Discoveries Corp, for an 80% interest in the Jacknife Silver Project, an advanced project located in Idaho, USA. The Project provides a pathway to rapid development through patented mining claims that require no federal permitting for exploration and limited permitting for underground mining.

The Jacknife Project has six historically significant mines with over 8km of underground workings, including a +610m vertical shaft at the Conjecture Mine (Figure 2). In the mid-1970s the Sunshine Mining Company conducted an in-house calculation of a foreign estimate for the Conjecture Mine, predicting a total of 632,081t @ 13 oz/t for a total of 8.22Moz Ag. Together, the six mines have produced over 3.2M oz of silver at an average grade of 12.7 oz/t (Table 1) during a period when the silver price was less than US$1.30 per ounce.

Cautionary Statement – The resource estimate is a foreign estimate and is not reported in accordance with the JORC Code (2012); a competent person has not done sufficient work to classify the foreign estimate as mineral resources or ore reserves in accordance with the JORC Code (2012); and it is uncertain that following evaluation and/or further exploration work that the foreign estimate will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code (2012).

OLY ASX Announcement 20 July 2026 – Acquisition of High-Grade Silver Project in Silver Valley

Figure 1: The Jacknife project relative to the Silver Valley Mining District, Idaho
Figure 1: The Jacknife project relative to the Silver Valley Mining District, Idaho

The Project includes the Conjecture, Weber, Bellville and Hewer Shear Zones, which collectively cover approximately 7km of combined strike length (Figure 3). These shear zones have mineralised surface expressions and different strike orientations, which suggests multiple feeder structures with highly prospective intersection points within the project area.

Figure 2: Conjecture Mine Long section from 1981 report, with the estimated geology boundaries, historically mined areas

Geology

The geology of the Jacknife Project is dominated by middle Proterozoic, low-grade meta-sedimentary rocks of the Belt Supergroup. The surface geology is dominated by the Upper Wallice Formation and the lower workings of the Conjecture Mine are within the St Regis Formation and contact with the Revett Formation. There are two major faults, the Packsaddle Fault to the north and Cascade Fault to the east. These structures are interpreted to be long-lived normal faults, that have dropped the Middle Proterozoic stratigraphy and later been offset by north-west trending strike-slip structures.

Figure 3: Plan view of the Jacknife Project with historical mines, patented and unpatented lease boundaries and prospective exploration targets

Cautionary Statement – The resource estimate is a foreign estimate and is not reported in accordance with the JORC Code (2012); a competent person has not done sufficient work to classify the foreign estimate as mineral resources or ore reserves in accordance with the JORC Code (2012); and it is uncertain that following evaluation and/or further exploration work that the foreign estimate will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code (2012).

OLY ASX Announcement 20 July 2026 – Acquisition of High-Grade Silver Project in Silver Valley

Historical Drilling

Table 1: Summary table of available historical mining records in the Jacknife Project

Mine and Production Years Ore (t) Silver (oz) Gold (oz) Copper (lbs) Lead (lbs) Zinc (lbs) Avg Silver Grade (oz/t)
Conjecture Mine (1913-1956) 11,488 81,333 93 13,825 90,983 53,778 7
Conjecture Mine (1956-1964) 90,718 2,000,000 - - - - 22
Hewer Mine (1916-1950) 28,161 235,890 146 13,251 383,934 73,298 8
Keep Cool Mine (1937-1954) 9,657 35,180 474 29,250 479,739 616,127 4
Rainbow Mine (1911-1916) 104 8,227 - - 10,171 - 79
Silver Leaf Mine (1925) 16 608 - - 4,626 - 38
Weber Mine (1901-1981) 115,476 886,556 3,455 6,596 801,403 86,209 8
Total 255,621 3,247,794 4,168 62,922 1,770,856 829,412 12.7

Table 2: Selected historical drilling intercepts for the Jacknife Project

Hole ID Company Year From Interval Intercept
ABM-12-DH2 BMZ 2012 101.4 1.4 1.4m @ 692g/t Ag, 0.42g/t Au, 5.7% Pb and 0.4% Zn from 101.4m
ABM-12-DH14 BMZ 2012 38.4 3.9 3.9m @ 264g/t Ag, 1.88g/t Au, 0.31% Pb and 0.39% Zn from 38.4m
ABM-12-DH4 BMZ 2012 100.4 0.6 0.6m @ 1,106g/t Ag, 0.81g/t Au, 0.65% Pb and 0.23% Zn from 100.4m
WDH-4 Shoshone 2008 31.7 1.22 3.66m @ 85g/t Ag, 0.46g/t Au, 0.62% Pb and 1.08% Zn from 30.5m
KCDH-2 Shoshone 2008 31.39 5.03 5.03m @ 86g/t Ag, 1.9g/t Au, 1.08% Pb and 3.31% Zn from 31.4m

Olympio is continuing to review historical datasets and plans to undertake a maiden drilling program targeting the Conjecture Shear Zone between the known mining levels of the Conjecture Mine to validate the continuity of mineralisation.

The Company also plans to undertake geological mapping, soil sampling and ridge-and-spur sampling across the Project to refine exploration targets and prioritise future drilling.