11:25 AM EDT, 06/12/2026 (MT Newswires) -- Silver47 Exploration's ( AAGAF ) on Friday said it launched its 2026 summer drill program at the Red Mountain silver and critical minerals in Alaska.

All three drill rigs are expected to be active by the end of the month, it said. The program will focus on expanding the inferred 168.6-million silver equivalent ounce resource (336 g/t AgEq), while systematically increasing tonnage at the Dry Creek deposit.

Drilling will test numerous largely undrilled polymetallic massive sulfide occurrences across the 60-kilometer prospective trend. The company said the summer drill program at Red Mountain will target silver and critical minerals.

"The program is designed to both expand the existing resource and systematically evaluate several high-priority targets that have seen limited or no previous drilling," said Chief Executive Galen McNamara. "Red Mountain continues to demonstrate the characteristics of a large-scale, silver-rich mineralizing system, and we believe this campaign has the potential to significantly enhance the project's value through resource growth and the discovery of additional massive sulphide mineralization along the 60-kilometre prospective trend."

Shares of the company were last seen down $0.02 to $0.59 on the TSX Venture Exchange.

Price: 0.59, Change: -0.02, Percent Change: -3.28