07:27 AM EDT, 09/30/2025 (MT Newswires) -- Zacatecas Silver ( ZCTSF ) overnight Monday announced the closing of its over-subscribed non-brokered private placement financing of 62.5 million units at a price of $0.06 per unit for total gross proceeds of C$3.75 million. A statement noted the financing was previously upsized from C$2.5 million to C$3.75 million in order to include a strategic order from a "highly regarded" global mining investment fund, "underscoring confidence in the company's high-grade silver and gold portfolio in Mexico".

ZAC also provided details on its "exploration path forward", saying a 4,000-metre drill program is currently in preparation stages with commencement anticipated in the coming months. Drilling will focus on high-priority targets at both the El Cristo and Panuco North vein systems, it added.

At El Cristo, drilling will test a large, underexplored vein system geologically linked to the prolific Veta Grande system, where historic mining produced over 200 million ounces of silver.

At Panuco, drilling follows up on "strong" high-grade results and the updated resource estimate of 20.5 Moz AgEq resource (19 Moz Ag and 19.2 Koz Au) and 3.41 million tonnes at 187 grams per tonne AgEq (173 g/t Ag and 0.18 g/t Au).

In addition, Zacatecas said it "continues to actively evaluate acquisition and consolidation opportunities in Mexico to strengthen and diversify its project pipeline".

Regarding the company's Esperanza Gold Project, Eric Vanderleeuw, CEO, said: "Esperanza is an attrative oxide heap leach deposit, low CAPEX and high-grade, with significant scalability. Federal permitting headwinds regarding open-pit permits had required us to pause PEA activities and focus on keeping the project in good standing and at minimum cost -- that strategy has worked. We've successfully preserved the project at minimal cost, giving us optionality as the policy environment evolves. Few undeveloped assets of this quality and size remain in the sector and we are excited to move forward again."

ZAC was down $0.01 at $0.13 yesterday.