MELVILLE, NY AND DAVIDSON, NC / ACCESS Newswire / September 8, 2026 / MSC INDUSTRIAL SUPPLY CO. (NYSE:MSM) ("MSC," "MSC Industrial," the "Company," "we," "us," or "our"), a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services, today announced that it has named Rob Kuhns to the role of Executive Vice President and Chief Financial Officer.
Kuhns brings over 30 years of financial expertise to the role. He most recently served as Vice President and Chief Financial Officer at TopBuild Corp., a leading distributor of insulation and building products, where he helped drive market capitalization growth from $6B to $14B through disciplined capital allocation, strategic acquisitions, and operational execution.
"We are very much looking forward to welcoming Rob to the MSC leadership team as our new CFO," said Martina McIsaac, President and CEO of MSC. "He is an accomplished leader with deep knowledge of financial strategy and a proven track record of delivering profitable growth. Combined with his extensive experience in industrial and distribution industries and his broad financial leadership expertise, Rob will be instrumental as we continue to advance our strategy, evolve to achieve our long-term financial targets and create value for all stakeholders."
Prior to his tenure with TopBuild Corp., Kuhns held various senior corporate finance roles at Mohawk Industries, NCH Corporation, and Ingersoll Rand. He earned a bachelor's degree in accounting from Shippensburg University and his master's degree in business administration from Southern Methodist University.
Kuhns will be based at MSC's corporate office in Davidson, North Carolina.
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Contact Information
Investors:
Media:
Ryan Mills, CFA
Leah Kelso
VP, Investor Relations & Business Development
VP, Communications & Sales Enablement
[email protected]
[email protected]
About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking, maintenance, repair and operations (MRO), and production fastener and hardware products and services. With approximately 2.5 million products, industry‑leading inventory management and supply chain solutions, and more than 80 years of experience, we help customers improve productivity, profitability, and operational performance.
Our team of over 7,000 associates partners closely with customers across industries to keep their operations running efficiently today while enabling them with insights and comprehensive solutions to continually rethink, retool, and optimize for a more productive tomorrow.
For more information on MSC Industrial, please visit mscdirect.com.
Statements in this press release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact, that address activities, events or developments that MSC expects, believes or anticipates will or may occur in the future, including statements about results of operations and financial condition, expected future results, expected benefits from our investment and strategic plans and other initiatives, and expected future growth and profitability, are forward-looking statements. The words "will," "may," "believes," "anticipates," "thinks," "expects," "estimates," "plans," "intends" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management's assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by MSC or any other person that the events or circumstances described in such statement are material. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed or implied by these forward-looking statements. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions in the markets in which we operate; changing customer and product mixes; volatility in commodity, energy and labor prices, and the impact of prolonged periods of low, high or rapid inflation; competition, including the adoption by competitors of aggressive pricing strategies or sales methods; industry consolidation and other changes in the industrial distribution sector; the applicability of laws and regulations relating to our status as a supplier to the U.S. government and public sector; the credit risk of our customers; our ability to accurately forecast customer demands; interruptions in our ability to make deliveries to customers; supply chain disruptions; our ability to attract and retain sales and customer service personnel; the risk of loss of key suppliers or contractors or key brands; changes to trade policies or trade relationships, including tariff policies; risks associated with opening or expanding our customer fulfillment centers; our ability to estimate the cost of healthcare claims incurred under our self-insurance plan; interruption of operations at our headquarters or customer fulfillment centers; products liability due to the nature of the products that we sell; impairments of goodwill and other indefinite-lived intangible assets; the impact of climate change; operating and financial restrictions imposed by the terms of our material debt instruments; our ability to access additional liquidity; the significant influence that our principal shareholders will continue to have over our decisions; our ability to execute on our E-commerce strategies and maintain our digital platforms; costs associated with maintaining our information technology ("IT") systems and complying with data privacy laws; disruptions or breaches of our IT systems or violations of data privacy laws, including such disruptions or breaches in connection with our E-commerce channels; risks related to online payment methods and other online transactions; the retention of key management personnel; litigation risk due to the nature of our business; failure to comply with environmental, health, and safety laws and regulations; and our ability to comply with, and the costs associated with, social and environmental responsibility policies. Additional information concerning these and other risks is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, respectively, and in the other reports and documents that we file with the United States Securities and Exchange Commission. We expressly disclaim any obligation to update any of these forward-looking statements, except to the extent required by applicable law.
Industrial Services čelí vyšším nákladům a narušeným dodavatelským řetězcům, ale těží z růstu výroby a e-commerce. Zacks přesto sektor hodnotí na #192 z 248 odvětví.
The Zacks Industrial Services industry faces near-term challenges from rising operating costs, supply-chain disruptions and a tight labor market. Industry players are focusing on pricing, cost controls and productivity improvements to protect margins. The manufacturing sector’s recovery and e-commerce growth offer promising catalysts.
Companies such as W.W. Grainger, Inc. (GWW - Free Report) , Fastenal (FAST - Free Report) , MSC Industrial Direct Co., Inc. (MSM - Free Report) , Global Industrial Company (GIC - Free Report) and DMC Global (BOOM - Free Report) seem well-positioned to benefit from these trends. They are actively cutting costs, improving operational efficiency and investing in automation and digitization, moves that are expected to drive sustainable growth and strengthen their market position.
Industry Description The Zacks Industrial Services industry comprises companies that provide industrial equipment products and MRO (maintenance, repair and operations) services. It includes routine maintenance, emergency maintenance and spare part inventory control, which keep a facility and its equipment in good operating condition. Industry participants serve a wide array of customers, ranging from commercial, government and healthcare to manufacturing. The industry's products (power tools, hand tools, cutting fluids, lubricants, personal protective equipment and consumables) are utilized in production and plant maintenance but are not directly related to customers’ core products or services. These companies reduce MRO supply-chain costs and improve customers' plant floor productivity by offering inventory management and process and procurement solutions.
Trends Shaping the Future of the Industrial Services Industry Elevated Costs and Supply-Chain Disruptions Remain Headwinds: The industry continues to face elevated inflation across labor, freight, fuel and tariff-related inputs as well as tariff-related impacts. Companies are witnessing labor shortages for some positions and incurring higher costs to meet demand. In addition, disruptions linked to the Iran conflict have further strained supply chains and increased overall cost pressures. The ISM Supplier Deliveries Index indicated slower delivery times for the ninth consecutive month in August, highlighting ongoing logistics bottlenecks. At the same time, the ISM Prices Index remained elevated at 71.1%, marking 23 straight months of rising input costs. This sustained inflation is being driven by higher steel and aluminum prices, tariffs on a range of imported goods and increased petroleum-related costs stemming from Middle East tensions. In response, industry participants are focusing on pricing actions, cost optimization, productivity gains and diversification of supplier networks to offset these pressures.
Manufacturing Expansion Bodes Well for Growth: The manufacturing sector contributes around 70% to the industry's revenues. The Institute for Supply Management’s manufacturing index has been above 50%, showing expansion, since January 2026. The latest reading was 54.6% in August. The New Orders Index has also expanded for the eighth consecutive month. This looks promising for the industry. Although demand conditions have improved compared with last year, elevated oil and diesel prices, alongside ongoing geopolitical uncertainty, continue to weigh on sentiment, with many customers remaining cautious and adopting a wait-and-watch approach.
Digitalization and E-commerce Drive Growth Opportunities: MRO demand is significantly impacted by the evolution of e-commerce. Customer demand for highly tailored solutions, with real-time access to information and rapid delivery of products, is rising. Customers want to execute their business activities in the most efficient way possible, which often means online. E-commerce is expected to surge due to rising Internet penetration, widespread smartphone adoption and the convenience of online shopping. Additionally, advancements in digital payments, logistics and personalization are making the online shopping experience faster, safer and more customer-centric. To capitalize on this trend, industrial service companies are heavily investing in improving their digital capabilities and increasing their e-commerce share.
Zacks Industry Rank Indicates Dull Prospects The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates bearish prospects in the near term. The Zacks Industrial Services Industry, a 17-stock group within the broader Zacks Industrial Products sector, currently carries a Zacks Industry Rank #192, which places it in the bottom 23% of 248 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.
Before we present a few Industrial services stocks that investors can add to their portfolio, it is worth taking a look at the industry’s stock-market performance and its valuation picture.
Industry Vs S&P 500 & Sector The Industrial Services industry has underperformed its sector and the Zacks S&P 500 composite over the past year. Over this period, the industry has dipped 7.6% against the sector’s rise of 16%. The Zacks S&P 500 composite has moved up 19.2%.
One-Year Price Performance
Industry's Current Valuation On the basis of the trailing 12-month EV/EBITDA ratio, a commonly used multiple for valuing Industrial Services companies, we see that the industry is currently trading at 36.44X compared with the S&P 500’s 17.78X and the Industrial Products sector’s trailing 12-month EV/EBITDA of 19.23X. This is shown in the charts below.
Enterprise Value/EBITDA (EV/EBITDA) TTM Ratio
Enterprise Value/EBITDA (EV/EBITDA) TTM Ratio
Over the last five years, the industry traded as high as 43.65X and as low as 25.24X, the median being 35.55X.
5 Industrial Services Stocks to Keep an Eye on Fastenal: The company appears well-positioned for continued growth, supported by strong customer share gains, expanding digital adoption and resilient demand across manufacturing and non-residential construction. Its technology-driven model, including its FMI vending network and eBusiness platform, should strengthen customer relationships and enhance operating efficiency. The company’s disciplined cost management has enabled it to preserve profitability despite inflationary pressures and unfavorable price/cost dynamics. Continued investment in tools, technology, and analytics is expected to support scalable growth. For 2026, FAST expects capital expenditures for property and equipment to range between $310 million and $330 million, up from $230.6 million in 2025. The higher expenditure reflects spending to replace its Atlanta hub facility and improve picking capacity and efficiency across its hub network. FAST also plans to increase trucking spend and IT spending, as projects that were expected in 2025 experienced delays and are expected to continue throughout 2026.
The Zacks Consensus Estimate for the Winona, MN-based company’s fiscal 2026 earnings has moved up 1.6% in the past 90 days. The consensus mark indicates year-over-year growth of 14.7%. FAST has a long-term estimated earnings growth rate of 12.7% and currently carries a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price: & Consensus: FAST
DMC Global: Second-quarter 2026 consolidated sales and adjusted EBITDA exceeded expectations driven by improved results at Arcadia Products, the company’s building products business. Arcadia delivered its strongest sales performance since the second quarter of 2024, with revenues increasing 9% year over year and 19% sequentially despite challenging conditions in the commercial construction market, particularly for large, long-cycle projects. The improved performance was driven by successful efforts to strengthen its short-cycle commercial product line through improved product availability and service across its network of regional service centers. The high-end residential windows and doors business also recorded improved year-over-year performance, while higher average aluminum prices provided an additional boost to sales. Meanwhile, demand at DynaEnergetics remained steady across its North American and international markets. Looking ahead, continued momentum at Arcadia, anticipated growth in well completion activity across DynaEnergetics’ oil and gas and EGS markets, and higher project shipments at NobelClad are expected to support DMC Global's overall performance.
The Zacks Consensus Estimate for Broomfield, CO-based DMC Global’s earnings has moved up from a prior expected loss of 25 cents to the current projected loss of two cents per share over the past 90 days. The company currently carries a Zacks Rank of 2.
Price & Consensus: BOOM
Grainger: The company continues to benefit from strong volume growth in its High-Touch Solutions segment and expanding customer activity within the Endless Assortment segment. High-Touch Solutions is seeing gains from a more favorable product mix, while repeat customer growth at MonotaRO and Zoro is supporting performance in Endless Assortment. Higher sales volumes and pricing initiatives are expected to contribute to revenue growth in the coming quarters. Grainger continues to invest in e-commerce, digital capabilities and supply-chain execution to improve the end-to-end customer experience. In August 2026, it acquired technology, intellectual property and talent assets from Adroit Worldwide Media for $210 million. The technology is intended to improve MRO inventory management, product availability and labor efficiency, with a commercial pilot planned over the next several months.
The Zacks Consensus Estimate for fiscal 2026 earnings for the Lake Forest, IL-based company indicates year-over-year growth of 17%. The estimate has moved up 1.8% over the past 90 days. GWW currently has a trailing four-quarter earnings surprise of 5.91%, on average. It has an estimated long-term earnings growth rate of 12.2% and a Zacks Rank #3 (Hold).
Price & Consensus: GWW
MSC Industrial: The company delivered the third consecutive quarter of year-over-year operating margin expansion in the fiscal third quarter of 2026 (ended May 31, 2026), supported by structural cost reductions. Average daily sales rose 7.8%, exceeding expectations as both pricing and volumes returned to growth. Management is advancing its “Mission Critical” strategy, focused on profitable growth, market share gains and productivity. The current phase emphasizes strengthening core customer and OEM fastener relationships, improving supply-chain efficiency, enhancing digital capabilities and reducing operating expenses. Recent initiatives include web price realignment, expanded marketing, E-commerce enhancements and a data-driven sales optimization program. In fiscal 2026, the company is further leveraging analytics and organizational alignment to deliver a more personalized customer experience and improve end-to-end efficiency. The company plans to selectively pursue strategic acquisitions that expand its markets and enhance its product and service offerings.
The Zacks Consensus Estimate for Melville, NY-based MSM’s fiscal 2026 earnings has moved up 3.2% in the past 90 days. It currently indicates year-over-year growth of 19.4%. The company has a trailing four-quarter earnings surprise of 4.8%, on average. It currently carries a Zacks Rank of 3.
Price & Consensus: MSM
Global Industrial Company: The company delivered another quarter of strong, broad-based growth, with second-quarter 2026 revenues rising 7.7% and average daily sales increasing 9.3%. This marked GIC’s third consecutive quarter of high-single-digit average daily sales growth, driven by gains in both volume and pricing. GIC continues to advance strategic initiatives focused on driving profitable top-line growth and scaling the business in 2026 and beyond. These efforts include building a more customer-centric business model and reshaping its go-to-market strategy to better address evolving customer needs. The company is also deepening customer relationships, expanding e-procurement adoption, strengthening vertical specialization and enhancing collaboration across sales, marketing, merchandising and digital teams. Together, these initiatives are designed to support sustainable organic growth, increase share of wallet, drive market-share gains and strengthen long-term performance
The Zacks Consensus Estimate for the Port Washington, NY-based company’s fiscal 2026 earnings has been revised 21% upward in the past 90 days. The consensus mark indicates year-over-year growth of 25.4%. General Industrial has a long-term estimated earnings growth rate of 16% and a Zacks Rank of 3.
Metalsource Mining oznámila nové vrty na Silver Hill s až 15,3 metru při 207 g/t AgEq, včetně 2,4 metru při 515 g/t AgEq. Mineralizace zůstává otevřená do hloubky i podél směru.
Vancouver, British Columbia--(Newsfile Corp. - August 18, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce additional assay results from its ongoing drill program at Silver Hill, where step out drilling continues to improve management's understanding of the continuity and orientation of a growing high grade polymetallic system.
Hole SH26-20 returned 9.57 metres grading 364 g/t silver equivalent ("AgEq"), including 2.26 metres grading 913 g/t AgEq.
Hole SH26-21 returned 15.3 metres grading 207 g/t AgEq, including 2.4 metres grading 515 g/t AgEq.
These two holes continue to demonstrate mineralization is open at depth, with reliable widths and high grades, validating the company's interpretation that the system remains open down dip and along strike to the north and south.
SH26-20: This hole was drilled as a follow up to SH26-19, designed to characterize the grade of lost material in SH26-19. This is very important for data continuity in future resource estimations. SH26-20 returned composite values of up to 8.4 g/t gold, with 47.9 g/t silver, and 14.7% combined lead-zinc. The combined result of SH26-19 and SH26-20 demonstrate local variability in grade along strike and down dip can be significant. This result bolsters our confidence that an individual intercept of relative lower grade can be in very close proximity to high grade mineralization.
SH26-21: This hole was drilled as a down dip step out below SH26-20, and returned higher overall composite lead values, including up to 7.3% lead and 47 g/t silver. Elevated silver with higher lead supports our understanding that galena is argentiferous, and silver is associated with lead enriched zones in the deposit. Additionally, SH26-21 intercepted wider sections of the mineralized horizon, indicating the system may be more robust at depth.
Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)AgEq (g/t)SH26-20227.56237.139.572.530.22.67.60.2364Including227.56229.822.268.437.01.912.80.6913Including232.90237.134.240.747.94.710.30.1308SH26-21247.01262.3115.300.925.22.65.80.1207Including247.65252.074.421.728.64.28.90.1340Including249.63252.072.442.947.47.311.00.2515Including256.21262.316.100.536.93.16.70.1208Table 1: Composite assay results from SH26-20 and SH26-21. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq calculations below.
Figure 1: Panoramic photograph showing mineralization from SH26-20.
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Figure 2: Panoramic photograph showing mineralization from SH26-21.
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Figure 3: Plan view of the Silver Hill project area showing the location of drilled intercepts (AgEq), intercepts with pending assays (black) and collar locations (transparent black).
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Figure 4: Long section looking southeast (113°) showing intercept locations colored by AgEq. Black dots indicate intercepts with pending assays. Note: Small colored dots within historic workings are bulk samples taken previously by Tennessee Copper and are colored by AgEq.
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Joe Cullen, CEO of Metalsource Mining, commented:
"SH26-20 and SH26-21 reinforce something we've suspected for a while. Gold, silver, lead and zinc at Silver Hill aren't randomly distributed. We're beginning to see patterns that can help us vector toward the higher-grade portions of the system. That's a meaningful shift from finding mineralization to understanding it.
Importantly, the mineralized system also appears to be strengthening at depth, with SH26-21 returning a wider mineralized intercept as we continue stepping out down plunge. Our focus now is to aggressively expand the known mineralized footprint and target extensions of the exceptional high-grade mineralization, while our expanded drilling program begins testing entirely new targets beyond the historic mine footprint.
As our geological model sharpens, so does our ability to refine where we drill next. With Silver Hill remaining open along strike and at depth, we're excited about the exploration runway ahead."
What's Next
Multiple Assays Pending: Results remain outstanding from several completed drill holes, providing a continued pipeline of exploration results as drilling advances across Silver Hill.Expanding Along Strike and at Depth: With mineralization remaining open in multiple directions, drilling will continue to systematically test extensions of the known mineralization along strike, down plunge and at depth.Vectoring Toward Higher Grade Mineralization: As drilling, assays, geophysics and structural interpretation continue to refine the geological model, Metalsource will increasingly apply this information to target interpreted extensions of higher-grade portions of the system.Accelerating Exploration: The Company's expanded drilling program is designed to increase exploration capacity, allowing Metalsource to simultaneously expand known mineralization while testing new priority targets across the broader property.Testing New Discovery Targets: Recently completed IP surveys have identified additional priority targets within and beyond the historically mined area. These previously untested targets provide a pipeline of opportunities to evaluate potential extensions and additional mineralized centres across the broader Silver Hill trend.Expanding the Exploration Footprint: Metalsource will continue evaluating strategic land opportunities where geological and geophysical interpretation identifies prospective ground that could complement the Company's evolving district scale exploration strategy.Why This Matters to Investors
SH26-20 and SH26-21 provide another important piece of evidence that the Silver Hill mineralization continues at depth. The two down plunge step outs extend drilling to approximately 335 metres below surface while returning multiple high-grade intervals within broader mineralized horizons of up to 15.3 metres. Importantly, the changing distribution of gold, silver, lead and zinc between holes is providing the Company with additional geological information that may help refine vectors toward high grade zones.
The significance extends beyond these individual assays. Metalsource is now advancing a multi-pronged exploration strategy designed to systematically expand mineralization along strike and at depth, aggressively test extensions of the exceptional high-grade mineralization surrounding SH26-07, and use expanded drilling capacity to evaluate completely new discovery targets beyond the historic mine footprint.
With the known mineralization remaining open and the Company's geological model continuing to evolve, each successive phase of drilling is designed to answer a larger question: how far does Silver Hill extend, where are its highest-grade zones concentrated, and does the broader trend host additional mineralized centres?
Drill Hole IDEasting (m)Northing (m)Elev. (m)AzimuthDipLength (m)StatusSH25-015724083951597224107-63109CompleteSH25-02572408395159722496-85101CompleteSH25-03572410395175123696-46305CompleteSH25-045724103951751236352-89100CompleteSH26-055722803951624262125-73199CompleteSH26-065722803951624262129-51154Assay PendingSH26-07572280395162426274-89200CompleteSH26-085722803951624262297-77231CompleteSH26-09572237395159026289-7015Abandoned SH26-10572237395159026291-76188CompleteSH26-11572237395159026226-83197CompleteSH26-125722373951590262293-84255Assay PendingSH26-135722373951590262145-82215Assay PendingSH26-145722373951590262125-67185Assay PendingSH26-155721683951658261107-79267CompleteSH26-16572168395165826185-76267CompleteSH26-17572168395165826194-61245CompleteSH26-185721683951658261120-70297CompleteSH26-195721683951658261131-76258CompleteSH26-205721683951658261133-80276CompleteSH26-215721683951658261168-86288CompleteSH26-225721683951658261111-86285Assay PendingSH26-23572168395165826171-87288Assay PendingSH26-24572168395165826155-84288Assay PendingSH26-255721683951658261236-49241Assay PendingSH26-265721683951658261156-74276Assay PendingSH26-275721683951658261173-67283Assay PendingTable 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N.
Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.
The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.
*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.
RSU Grant
Further, the Company has granted an aggregate 450,000 restricted share units, valid for a term of five years, to consultants and certain officers of the Company. The restricted share units are issued pursuant to the Company's share compensation plans and are subject to vesting. Of these RSUs, 150,000 will vest over a one-year period and 300,000 will vest over a three month period, in addition to a statutory hold period of four months and one day from issuance.
Qualified Person
All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects.
Silver Hill Project
Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.
Byrd-Pilot Mountain Project
The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.
About Metalsource Mining Inc.
Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.
Metalsource Mining
Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310204
Source: Metalsource Mining Inc.
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Metalsource Mining spouští rozšířené vrtání u Silver Hill v Severní Karolíně, aby otestovala pokračování dosud nejvyššího nálezu. Vrt SH26-07 přinesl až 16 604 g/t stříbrného ekvivalentu na 2,74 metru.
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce the next phase of drilling at its flagship Silver Hill Project in North Carolina. Building on the success of recent drilling and an increasingly refined geological model, the Company is launching a focused expansion program targeting strike and down plunge extensions of the highest grade polymetallic mineralization identified to date. The program is designed to systematically expand known mineralization while advancing Silver Hill toward an inaugural mineral resource estimate currently targeted for early 2027.
The next phase of drilling will focus on the area surrounding Hole SH26-07, one of the most significant intercepts reported by the Company to date. SH26-07 intersected 12.62 metres grading 3,786 g/t silver equivalent*, including 6.95 metres grading 6,730 g/t silver equivalent* and 2.74 metres grading 16,604 g/t silver equivalent*, highlighted by 209.1 g/t gold, together with strong silver, lead and zinc mineralization. Management believes the evolving geological model now provides a significantly improved understanding of the controls on this high grade intercept and is positioning the drill program to evaluate its continuity along strike, down plunge and at depth.
Key Highlights
Targeting the highest grade mineralization identified to date, anchored by Hole SH26-07, which returned up to 16,604 g/t silver equivalent over 2.74 metres.
New drill platforms will allow systematic testing of strike and down plunge extensions while improving continuity between previously successful drill holes, including SH26-05 and SH25-02.
Dual track exploration strategy continues, with the current program focused on expanding the known Silver Hill mineralization while a second drill rig prepares to evaluate newly identified district scale exploration targets generated through the Company's recent IP survey.
Technical Discussion
Construction of additional drill platforms west of the current drilling area is planned to facilitate testing of the interpreted deep extension of the Silver Hill polymetallic system and continued expansion of mineralization along strike and at depth. Concurrently, the Company will construct additional drill platforms positioned to evaluate exploration targets identified through the recently completed property scale IP survey.
During construction activities, drilling will temporarily transition to the eastern portion of the system, where step out holes will evaluate the interpreted up dip extension of the high grade polymetallic mineralization defined by SH26-07. These holes are designed to test the continuity of gold rich mineralization along trend while also improving geological understanding between SH26-07, SH26-05 and SH25-02, all of which intersected significant polymetallic mineralization with gold enrichment.
Joe Cullen, Chief Executive Officer, commented:
"One of the advantages of a successful exploration program is that each drill hole makes the next one more intelligent. Over the past several months we've significantly improved our understanding of the geological controls at Silver Hill, and we're now applying that knowledge by deliberately targeting the highest grade mineralization identified to date.
"Hole SH26-07 demonstrated the exceptional grade potential of the system, and our objective now is to determine how far that mineralization extends along strike, down plunge and at depth while continuing to strengthen the continuity of the broader polymetallic system. This work is fundamental to building a robust geological model and advancing toward our inaugural resource estimate.
"At the same time, exploration across the broader district continues to accelerate. While this program remains focused on expanding the known Silver Hill deposit, our second drill rig will begin evaluating newly identified high priority targets generated through our recent IP survey. For the first time, we'll be targeting mineralization along strike and pursuing new discoveries simultaneously, marking another important step in the evolution of the Silver Hill project."
Why This Matters to Investors
This phase of drilling represents a natural progression in Metalsource's exploration strategy. Rather than simply stepping out from previous holes, the Company is now applying an increasingly refined geological model to systematically target extensions of the highest grade polymetallic mineralization identified to date.
Importantly, this program is designed to accomplish two complementary objectives. First, it seeks to expand and strengthen the continuity of the known Silver Hill mineralization in support of an inaugural mineral resource estimate. Second, as the Company's second drill rig begins evaluating newly identified district scale targets, Metalsource will simultaneously pursue opportunities for new discoveries beyond the historic mine footprint.
Together, these initiatives represent an important evolution in Metalsource's exploration strategy. The Company is now systematically expanding the exceptional high grade polymetallic mineralization highlighted by Hole SH26-07 while simultaneously advancing district scale exploration beyond the historic mine footprint. By integrating modern drilling, geophysics and geological interpretation, management believes Silver Hill is transitioning from a historic producing mine into a growing polymetallic district with multiple opportunities for defining a resource and new discoveries.
Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.
The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.
*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.
Qualified Person
All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects.
Silver Hill Project
Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.
Byrd-Pilot Mountain Project
The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.
Investor Relations Agreement
The Company has entered into an agreement dated August 1, 2026 with North Star Investor Relations Inc. ("North Star") pursuant to which the Company has engaged the services of North Star to provide investor relations and marketing services, beginning on August 1, 2026 and ending June 30, 2027.
Pursuant to the Agreement, North Star will receive a monthly payment of C$8,000 and 250,000 stock options to be granted in January 2027 at a price to be determined on the date of grant. The options shall be valid for a two year term and vest quarterly over one year. North Star does not currently own any interest, directly or indirectly, in the Company or its securities. North Star's address is 130 King Street West, Toronto, ON, M5X 2A2 (phone: (416) 842-9003, email: [email protected]). North Star and its directors and officers are arm's length from the Company.
About Metalsource Mining Inc.
Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.
Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308328
Source: Metalsource Mining Inc.
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Metalsource Mining oznámila, že vrt SH26-27 na Silver Hill zasáhl asi 15 metrů polymetalické mineralizace a posunul známý systém zhruba o 65 metrů na jih od SH26-19. Laboratorní výsledky jsou stále očekávány.
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce that drill hole SH26-27 has intersected approximately 15 metres (core length) of polymetallic mineralization, extending the known Silver Hill system approximately 65 metres south of Hole SH26-19 and representing the southernmost drill intercept reported by the Company to date. The target horizon comprises approximately 15 metres of widespread sphalerite and galena dominant polymetallic mineralization, including an internal interval of approximately 3.5 metres of semi-massive to massive sulphides. The style and intensity of sulphide mineralization observed in SH26-27 are consistent with mineralization intersected elsewhere within the Silver Hill system. Laboratory assays remain pending.
Figure 1: Panoramic photograph showing mineralization identified in SH26-27.
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Figure 2: Long section looking southeast (113°) showing intercept locations colored by AgEq. Black dots indicate intercepts with pending assays.
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Joe Cullen, CEO of Metalsource Mining, commented:
"SH26-27 is another encouraging step forward for the program. While we'll allow the laboratory assays to speak for the grade, we're very encouraged by the style, thickness and continuity of the sulphide mineralization observed in the core. Importantly, this hole extends the known mineralized corridor approximately 65 metres south of SH26-19 and continues to demonstrate that the system remains open for expansion.
Our focus now is twofold. While we look forward to receiving and reporting the assays from SH26-27 and the remaining pending holes as quickly as they become available, we're simultaneously accelerating the next phase of drilling around the exceptional mineralization intersected in Hole SH26-07. As our second drill rig prepares to mobilize and begin testing newly identified district scale targets generated through our recent IP survey, we're continuing to build momentum on multiple fronts. We believe each phase of drilling is strengthening our understanding of the system and positioning Silver Hill for continued growth."
Multiple Assays Pending
Laboratory assays remain outstanding for SH26-27 and several additional drill holes completed as part of the Company's ongoing exploration program. A number of samples exceeded initial analytical thresholds and required overlimit re-assay procedures to ensure accurate reporting. Metalsource will continue releasing assay results as they are received from the laboratory, providing a steady flow of technical updates as drilling advances across the Silver Hill Project.
What's Next
Release Pending Assays: Laboratory results remain outstanding for completed drill holes and will be released as they become available.Highest Grade Corridor: The next phase of drilling will focus on expanding the exceptional polymetallic mineralization surrounding Hole SH26-07 through systematic drilling along strike, down plunge and at depth.Accelerating Exploration: Mobilization of the Company's second drill rig remains on schedule, allowing Metalsource to simultaneously expand the known Silver Hill system while testing newly identified high priority IP targets across the broader district.Building Toward a Maiden Resource: Ongoing drilling continues to improve geological understanding and expand the known mineralized footprint in support of an inaugural mineral resource estimate currently targeted for early 2027.Evaluating Strategic Land Expansion: Metalsource is assessing opportunities to expand its land position in prospective areas identified through geological and geophysical analysis, strengthening its ability to explore district-scale potential.Why This Matters to Investors
SH26-27 represents another important milestone in Metalsource's systematic expansion of the Silver Hill polymetallic system. While laboratory assays remain pending, the hole marks the Company's largest southern step out to date, extending the known mineralized corridor approximately 65 metres beyond Hole SH26-19 and continuing to demonstrate that mineralization remains open to the south, at depth and along the broader trend. The visual continuity of sulphide mineralization provides further confidence in the Company's evolving geological model as exploration advances beyond the historic mine footprint.
The visual presence of widespread sphalerite and galena is significant because these are the principal sulphide minerals associated with Silver Hill's polymetallic mineralization, further strengthening confidence that drilling continues to intersect the same expanding mineralized system.
Importantly, SH26-27 is not the conclusion of this phase of exploration, but another step in a broader strategy. As assays continue to be released, Metalsource is simultaneously advancing the next phase of drilling around the exceptional mineralization intersected in Hole SH26-07 while preparing to mobilize a second drill rig to begin testing newly identified district scale targets generated through the Company's recent IP survey. This dual track approach is designed to accelerate both resource growth and discovery potential as the Company continues unlocking the broader Silver Hill district.
Drill Hole IDEasting (m)Northing (m)Elev. (m)AzimuthDipLength (m)StatusSH25-015724083951597224107-63109CompleteSH25-02572408395159722496-85101CompleteSH25-03572410395175123696-46305CompleteSH25-045724103951751236352-89100CompleteSH26-055722803951624262125-73199CompleteSH26-065722803951624262129-51154Assay PendingSH26-07572280395162426274-89200CompleteSH26-085722803951624262297-77231CompleteSH26-09572237395159026289-7015Abandoned SH26-10572237395159026291-76188CompleteSH26-11572237395159026226-83197CompleteSH26-125722373951590262293-84255Assay PendingSH26-135722373951590262145-82215Assay PendingSH26-145722373951590262125-67185Assay PendingSH26-155721683951658261107-79267CompleteSH26-16572168395165826185-76267CompleteSH26-17572168395165826194-61245CompleteSH26-185721683951658261120-70297CompleteSH26-195721683951658261131-76258CompleteSH26-205721683951658261133-80276Assay PendingSH26-215721683951658261168-86288Assay PendingSH26-225721683951658261111-86285Assay PendingSH26-23572168395165826171-87288Assay PendingSH26-24572168395165826155-84288Assay PendingSH26-255721683951658261236-49241Assay PendingSH26-265721683951658261156-74276Assay PendingSH26-275721683951658261173-67283Assay PendingTable 1: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N.
Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.
The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.
*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.
Qualified Person
All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects.
Silver Hill Project
Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.
Byrd-Pilot Mountain Project
The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.
About Metalsource Mining Inc.
Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.
Metalsource Mining
America's First Silver Mine. Modern Exploration. Historic Opportunity.
For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]
Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307204
Source: Metalsource Mining Inc.
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Metalsource Mining identifikovala na Silver Hillu 2,4 km perspektivních cílů pro vrtání, včetně souvislé 1,8km anomálie u historického dolu. Společnost chce zvýšit vrtací kapacitu a cíle dál testovat.
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce the results of a recently completed induced polarization ("IP") survey designed to identify drill targets on strike from the historic Silver Hill mine. The survey identified approximately 2.4 kilometres of prospective strike length across two primary target areas, including a continuous 1.8 kilometre anomaly in the southern portion of the project area, in the immediate vicinity of Silver Hill, and an additional 600 metre IP anomaly in the northeast corner of the property.
These IP data and recent drilling results continue to validate Metalsource's exploration thesis that mineralization remains open in all directions, and there are significant opportunities to add scale to the mineralization discovered thus far through on strike and down dip exploration drilling.
Key Highlights
Phase 2 IP survey identifies approximately 2.4 kilometres of prospective target areas across the Silver Hill district.High priority drill targets display geophysical characteristics analogous to the mineralized corridor defined by recent drilling.Targets remain open north and south of the historic mine, significantly expanding the Company's exploration pipeline.Results strengthen management's evolving geological model that Silver Hill may comprise multiple mineralized occurrences rather than a single historic deposit.Company advancing plans to increase drilling capacity to simultaneously expand known mineralization and systematically test newly identified targets.
Figure 1: Plan view showing the extent of recently completed ground IP Survey. Right: Unfiltered polarization results. Left: Polarization results filtered to 20-35 msec to show anomalous trend. Note Project focus area includes the Silver Hill mine and a significant portion of the companies property position.
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Figure 2: Plan view showing resistivity results from ground IP survey with anomalous polarization data (points). Coincident polarization anomalies (20-35msec) with >1,500Ωm resistivity results is an exploration target. Note: Non-target resistivities removed for clarity on the right side of the image.
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High-Grade Drilling Validates IP Targeting Model
Exploration drilling completed to date at Silver Hill has demonstrated significant metal endowment within the Company's target horizon. Drilling has so far identified mineralization in up to 18 metres of drill core, and composite assay results of up to 209 g/t gold, 241 g/t silver, 18.8% lead, 39.4% zinc, and 5.4% copper (Table 1). The consistency of this polymetallic mineralization has established Silver Hill as an excellent candidate for electrical geophysics and provided the foundation for the Company's evolving exploration model.
At Silver Hill, the combination of IP chargeability and resistivity data provides two complementary and independently interpretable signals. Elevated chargeability values (greater than 20 milliseconds) are interpreted to potentially reflect the presence of metallic sulphide minerals, while resistivity distinguishes the silicified host of the mineralization (1,500 to 4,000 ohm-m) from both the conductive weathered saprolite at surface and the highly resistive volcanic package, which exceeds 5,000 ohm-m. This two parameter discrimination allows geophysically anomalous zones to be ranked not only by their sulphide content, but also by their host rock environment, enabling the identification of interpreted mineralization occurring at the favourable contact between volcanic flows and the underlying silicified host rocks.
Joe Cullen, CEO of Metalsource Mining, commented:
"This survey represents a major step forward in our understanding of the Silver Hill district. What excites us most is not simply the number of targets identified, but the quality of those targets. These targets exhibit geophysical characteristics analogous to the corridor where we've already delivered some of our strongest drill results. While these are exploration targets, not drill results, they provide us with a compelling pipeline of opportunities that we intend to begin testing as we continue to accelerate exploration.
As drilling, geophysics and geological interpretation continue to come together, our confidence in the broader district continues to grow. Our working geological model suggests Silver Hill may comprise multiple mineral occurrences rather than a single mineralized body, creating opportunities to expand the system both along strike and down dip.
With plans to increase drilling capacity, our strategy is straightforward. One drill program will continue systematically expanding the known Silver Hill deposit, while additional drilling evaluates these newly identified high priority targets. Selecting where to drill first has become one of the more difficult decisions because of the quality of the opportunities now in front of us, and we're excited to begin unlocking their potential aggressively in the near term."
Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)AgEq (g/t)*SH25-0114.3232.4918.171.867.93.11.00.1267Including24.6932.497.803.266.13.60.90.1383Including24.6927.432.744.8139.97.11.20.3640SH25-0214.2329.5715.332.133.21.11.40.1237Including24.6629.574.915.761.52.73.80.1613Including26.4028.131.7413.268.72.90.50.11,155SH26-07129.91142.5212.6246.542.31.43.30.13,786Including135.58142.526.9584.054.81.11.80.26,730And139.78142.522.74209.193.60.31.20.116,604SH26-05116.10117.010.912.2241.016.634.60.21,170SH26-08186.05199.0012.951.342.56.513.40.2447Including186.05191.485.431.661.611.123.50.2705Including188.37191.483.112.294.117.236.00.31,063And196.44199.002.562.174.88.815.00.3604SH25-0316.9220.063.140.043.20.70.60.060Including16.9218.411.490.061.40.50.10.067SH25-0458.5560.111.550.240.41.52.60.0113Including59.5660.110.550.7103.03.96.00.0279SH26-10111.98116.594.600.723.92.76.10.1202Including116.01116.590.581.2146.813.617.60.3656SH26-11138.41149.0510.643.327.03.37.90.2434Including139.96149.059.083.730.33.78.50.2488Including142.98146.153.179.752.46.514.70.41,087Including142.98144.511.5219.192.011.725.10.52,050SH26-15218.66228.8410.182.116.41.52.90.4257Including218.66219.360.708.359.50.41.45.41,039Including226.13228.842.714.541.05.310.30.2594SH26-16224.45233.028.560.67.70.82.10.090Including224.45224.850.4011.323.81.56.00.1984Including232.87233.020.150.4146.018.839.40.0951SH26-17185.59185.750.150.721.53.810.50.5292SH26-18199.40211.2311.831.434.32.25.40.1245Including199.40200.801.407.319.71.516.00.3833Including199.40200.040.6413.836.82.729.80.71,580Including208.94211.232.291.7152.79.816.00.4636SH26-19218.60224.886.289.954.03.721.70.11,156Including218.60222.203.6016.543.72.832.20.11,789Including224.00224.880.882.7157.310.818.90.3762And227.93228.230.303.364.64.215.90.3609Table 1: Summary of exploration drilling results thus far at Silver Hill.
The Company believes the combination of systematic drilling, modern geophysics and structural interpretation is transforming Silver Hill from a historically mined property into a modern district scale exploration opportunity with multiple avenues for future growth.
What's Next
Accelerating Exploration - Management is advancing plans to increase drilling capacity to simultaneously expand the known Silver Hill deposit while systematically testing newly identified priority targets.
Multiple Assays Pending - Results remain outstanding from several completed drill holes, providing continued exploration catalysts as the current drill program advances.
Testing New Discovery Targets - Follow up drilling will prioritize the highest ranking IP anomalies exhibiting characteristics analogous to the Company's successful drilling.
Expanding the Geological Model - Ongoing drilling, IP surveys and geological interpretation will continue refining management's understanding of the Silver Hill district while evaluating opportunities to extend mineralization along strike, down dip and beyond the historic mine footprint.
Building District Scale Value - Management will continue evaluating strategic opportunities that strengthen the Company's ability to systematically explore and unlock the broader Silver Hill district.
Why This Matters to Investors
The Phase 2 IP survey represents a significant evolution in the Silver Hill story. Rather than simply identifying additional drill targets, the survey provides a property scale framework for systematically exploring the broader district and prioritizing future drilling.
Importantly, the newly identified targets exhibit geophysical characteristics analogous to the corridor where Metalsource has already intersected high-grade silver, gold, lead, zinc and copper mineralization. While these anomalies remain exploration targets until drill tested, they substantially expand the Company's pipeline of prospective targets and support management's evolving geological model that Silver Hill may comprise multiple mineralized centres extending beyond the historic mine footprint.
Combined with multiple pending assays, plans to increase drilling capacity and ongoing geological interpretation, the Company believes it is entering the next phase of exploration—one focused on not only expanding the known mineralization, but also systematically evaluating the broader district for additional discoveries.
Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.
The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.
*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.
Qualified Person
All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects.
Silver Hill Project
Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.
Byrd-Pilot Mountain Project
The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.
About Metalsource Mining Inc.
Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.
Metalsource Mining
America's First Silver Mine. Modern Exploration. Historic Opportunity.
For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]
Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305405
Source: Metalsource Mining Inc.
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Metalsource Mining rozšířila pozemky projektu Silver Hill o tři další nemovitosti o zhruba 141 akrů, čímž celkově drží asi 1 300 akrů. Nové plochy leží podél známé mineralizace a mají podpořit další průzkum.
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce the strategic expansion of its Silver Hill land package through the execution of option agreements covering three additional properties totaling approximately 141 acres. The acquisitions increase the Company's consolidated land position to approximately 1,300 acres and secures prospective areas interpreted to be along strike and down dip of known mineralization. The transactions represent another important step in Metalsource's strategy to systematically expand the Silver Hill district as ongoing drilling, geophysics and geological interpretation continue to strengthen management's understanding of the broader exploration opportunity.
Management will continue evaluating strategic land acquisition opportunities that align with its evolving geological model, strengthening the Company's ability to systematically explore and unlock the broader potential of Silver Hill.
Highlights
Land position expanded to approximately 1,300 acres through option agreements covering three additional properties.
Newly acquired ground is interpreted to be along strike and down dip of known mineralization and part of the evolving Silver Hill geological model.
Expansion supports the Company's objective of evaluating the broader district scale potential beyond the historic mine footprint.
Exploration continues across Silver Hill with multiple assays pending while management advances plans to increase drilling capacity.
Figure 1: Plan view of existing property (yellow) with additional property additions (red). Note: Coordinate system in coordinates in WGS84 / UTMZ17N
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/303699_cf8f383dd4c1998b_002full.jpg
Joe Cullen, CEO of Metalsource Mining, commented:
"This is a strategic acquisition we've been working toward for some time. As drilling, geophysics and geological interpretation have continued to improve our understanding of the Silver Hill system, it became increasingly important to secure these highly prospective properties while the opportunity was available. We're grateful to the families who have owned this land for generations and appreciate the trust they've placed in our team. Every successful drill hole has strengthened our confidence in the broader district and helped define where we believe the next phase of exploration should be focused. These newly acquired properties provide access to compelling exploration targets that we look forward to advancing in the near term as we continue expanding the known mineralized footprint at Silver Hill.
"As we move closer to increasing drilling capacity, our vision is clear: one program focused on systematically expanding the Silver Hill proper, while additional drilling evaluates high priority regional targets generated through our geological work and recent IP surveys. We believe we're still in the early stages of understanding the scale of this district, and we're excited by the potential for both resource expansion and new discoveries."
What's Next
Multiple assays pending from the current drill campaign, with results expected to continue advancing the Company's understanding of the Silver Hill system. Increasing drilling capacity as management advances plans to secure an additional drill rig to accelerate testing of both known mineralization and newly identified exploration targets. Testing the broader district through continued integration of drilling, IP geophysics and geological interpretation to prioritize additional targets beyond the historic mine footprint. Continuing strategic growth through evaluation of additional land opportunities that complement the Company's evolving district scale exploration strategy.Why This Matters to Investors
The expansion of the Silver Hill land package reflects management's growing confidence in the broader exploration potential of the district. As drilling, geological interpretation and property scale geophysical surveys continue to refine the Company's understanding of the system, Metalsource is strategically securing prospective ground that may host mineralization and additional high priority exploration targets.
The newly acquired properties are expected to play an important role in the next phase of exploration. While the current drill program continues to systematically expand the known Silver Hill deposit, these acquisitions position the Company to evaluate a growing pipeline of prospective targets across the broader district as additional drilling capacity comes online.
With multiple drill holes pending, plans to accelerate exploration and an expanding portfolio of high priority targets, Metalsource believes it is transitioning from exploring a historic mine to systematically unlocking the broader district scale potential of one of America's most historically significant polymetallic mining camps.
Qualified Person
All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects.
Silver Hill Project
Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.
Byrd-Pilot Mountain Project
The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.
About Metalsource Mining Inc.
Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.
Metalsource Mining
America's First Silver Mine. Modern Exploration. Historic Opportunity.
For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303699
Source: Metalsource Mining Inc.
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MSC Industrial oznámila zisk na akcii 1,43 USD, nad odhadem 1,28 USD, a tržby 1,05 miliardy USD také překonaly očekávání. Meziročně zisk i tržby vzrostly.
MSC Industrial (MSM - Free Report) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.08 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +12.10%. A quarter ago, it was expected that this distributor of industrial tools and supplies would post earnings of $0.84 per share when it actually produced earnings of $0.82, delivering a surprise of -2.38%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
MSC Industrial, which belongs to the Zacks Industrial Services industry, posted revenues of $1.05 billion for the quarter ended May 2026, surpassing the Zacks Consensus Estimate by 1.74%. This compares to year-ago revenues of $971.15 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
MSC Industrial shares have added about 41.4% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for MSC Industrial?While MSC Industrial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for MSC Industrial was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.29 on $1.05 billion in revenues for the coming quarter and $4.36 on $3.95 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Industrial Services is currently in the bottom 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Hudson Technologies (HDSN - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.
This refrigerant services company is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year change of -26.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Hudson Technologies' revenues are expected to be $73.66 million, up 1.1% from the year-ago quarter.
Operating income of $106.7 million, or $111.2 million on an adjusted basis1
Operating margin of 10.2%, or 10.6% on an adjusted basis1
Diluted EPS of $1.44 vs. $1.02 in the prior fiscal year quarter
Adjusted diluted EPS of $1.43 vs. $1.08 in the prior fiscal year quarter1
MELVILLE, NY AND DAVIDSON, NC / ACCESS Newswire / July 1, 2026 / MSC INDUSTRIAL SUPPLY CO. (NYSE:MSM) ("MSC," "MSC Industrial," the "Company," "we," "us," or "our"), a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services, today reported financial results for its fiscal 2026 third quarter ended May 30, 2026.
Financial Highlights 2
FY26 Q3
FY25 Q3
Change
FY26 YTD
FY25 YTD
Change
Net Sales
$
1,047.1
$
971.1
7.8
%
$
2,930.5
$
2,791.3
5.0
%
Income from Operations
$
106.7
$
82.7
29.0
%
$
247.8
$
217.3
14.0
%
Operating Margin
10.2
%
8.5
%
8.5
%
7.8
%
Net Income Attributable to MSC
$
80.4
$
56.8
41.4
%
$
174.7
$
142.8
22.3
%
Diluted EPS
$
1.44
3
$
1.02
4
41.2
%
$
3.12
3
$
2.55
4
22.4
%
Adjusted Financial Highlights 2
FY26 Q3
FY25 Q3
Change
FY26 YTD
FY25 YTD
Change
Net Sales
$
1,047.1
$
971.1
7.8
%
$
2,930.5
$
2,791.3
5.0
%
Adjusted Income from Operations 1
$
111.2
$
87.2
27.5
%
$
261.5
$
225.5
16.0
%
Adjusted Operating Margin 1
10.6
%
9.0
%
8.9
%
8.1
%
Adjusted Net Income Attributable to MSC 1
$
79.9
$
60.2
32.7
%
$
181.2
$
149.0
21.6
%
Adjusted Diluted EPS 1
$
1.43
3
$
1.08
4
32.4
%
$
3.24
3
$
2.67
4
21.3
%
1 Represents a non-GAAP financial measure. An explanation and a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure are presented in the schedules accompanying this press release.
2 In millions except percentages and per share data or as otherwise noted.
3 Based on 56.0 million weighted-average diluted shares outstanding for FY26 Q3 and FY26 YTD.
4 Based on 55.8 million and 55.9 million weighted-average diluted shares outstanding for FY25 Q3 and FY25 YTD, respectively.
Martina McIsaac, President and Chief Executive Officer, said, "Our fiscal 3Q results that exceeded expectations provide evidence that we are fundamentally doing more with less and taking the right steps. Underpinning this improved performance was strength in the Core Customer, which continued to outperform the total company, and notable improvement in National Accounts. I am grateful for the hard work and dedication of our team members that has allowed us to advance the strategic changes being made to strengthen the business."
Greg Clark, Vice President and Interim Chief Financial Officer, added, "Average daily sales exceeded the high-end of our outlook with year-over-year improvement of 7.8% driven by benefits from price and volumes returning to growth in the quarter. We successfully capitalized on this growth by delivering 170 basis points of operating margin expansion, or 160 basis points on an adjusted basis year-over-year, above the higher end of our outlook range. This improved performance resulted in meaningful GAAP and adjusted earnings per share growth of more than 40% and 30% respectively, as well as an incremental operating margin of 32% in the quarter."
McIsaac concluded, "While we are encouraged by these results, there is further room to improve. We will continue advancing the benefits from our strategic initiatives and improving our cost structure that supported our improved performance this quarter. I am confident this progress will continue, which will be critical in the coming quarters as we begin to lap stronger benefits from price."
Fourth Quarter Fiscal 2026 Financial Outlook
ADS Growth (YoY)
6.5% - 8.5%
Adjusted Operating Margin1
10.0% - 10.8%
Full-Year Fiscal 2026 Outlook for Certain Financial Metrics Maintained
Depreciation and amortization expense of ~$100M
Interest and other expense of ~$30M2
Capital expenditures of ~$90M
Free cash flow conversion1 of ~95%
Tax rate of ~24.5%-25.5%
1 Guidance provided is a non-GAAP financial measure presented on an adjusted basis. For further details see the Non-GAAP financial measures information presented in the schedules accompanying this press release.
2 Includes $5.1M of Employee Retention Credit tax benefit recognized in the fiscal third quarter
Conference Call Information
MSC will host a conference call today at 8:30 a.m. EDT to review the Company's fiscal 2026 third quarter results. To access the earnings release, webcast, presentation slides and operational statistics, please visit the Company's website at: http://investor.mscdirect.com. Alternatively, the conference call can be accessed by dialing 1-888-506-0062 (U.S.) or 1-973-528-0011 (international) and providing the access code 895916.
An online archive of the broadcast will be available within one hour of the conclusion of the call and remain available until Wednesday, July 15, 2026. The Company's reporting date for its fiscal 2026 fourth quarter and full year results is scheduled for October 22, 2026.
About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking, maintenance, repair and operations (MRO), and production fastener and hardware products and services. With approximately 2.5 million products, industry‑leading inventory management and supply chain solutions, and more than 80 years of experience, we help customers improve productivity, profitability, and operational performance.
Our team of over 7,000 associates partners closely with customers across industries to keep their operations running efficiently today while enabling them with insights and comprehensive solutions to continually rethink, retool, and optimize for a more productive tomorrow.
For more information on MSC Industrial, please visit mscdirect.com.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact, that address activities, events or developments that MSC expects, believes or anticipates will or may occur in the future, including statements about results of operations and financial condition, expected future results, expected benefits from our investment and strategic plans and other initiatives, and expected future growth and profitability, are forward-looking statements. The words "will," "may," "believes," "anticipates," "thinks," "expects," "estimates," "plans," "intends" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management's assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by MSC or any other person that the events or circumstances described in such statement are material. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed or implied by these forward-looking statements. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions in the markets in which we operate; changing customer and product mixes; volatility in commodity, energy and labor prices, and the impact of prolonged periods of low, high or rapid inflation; competition, including the adoption by competitors of aggressive pricing strategies or sales methods; industry consolidation and other changes in the industrial distribution sector; the applicability of laws and regulations relating to our status as a supplier to the U.S. government and public sector; the credit risk of our customers; our ability to accurately forecast customer demands; interruptions in our ability to make deliveries to customers; supply chain disruptions; our ability to attract and retain sales and customer service personnel; the risk of loss of key suppliers or contractors or key brands; changes to trade policies or trade relationships, including tariff policies; risks associated with opening or expanding our customer fulfillment centers; our ability to estimate the cost of healthcare claims incurred under our self-insurance plan; interruption of operations at our headquarters or customer fulfillment centers; products liability due to the nature of the products that we sell; impairments of goodwill and other indefinite-lived intangible assets; the impact of climate change; operating and financial restrictions imposed by the terms of our material debt instruments; our ability to access additional liquidity; the significant influence that our principal shareholders will continue to have over our decisions; our ability to execute on our E-commerce strategies and maintain our digital platforms; costs associated with maintaining our information technology ("IT") systems and complying with data privacy laws; disruptions or breaches of our IT systems or violations of data privacy laws, including such disruptions or breaches in connection with our E-commerce channels; risks related to online payment methods and other online transactions; the retention of key management personnel; litigation risk due to the nature of our business; failure to comply with environmental, health, and safety laws and regulations; and our ability to comply with, and the costs associated with, social and environmental responsibility policies. Additional information concerning these and other risks is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, respectively, and in the other reports and documents that we file with the United States Securities and Exchange Commission. We expressly disclaim any obligation to update any of these forward-looking statements, except to the extent required by applicable law.
MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Balance Sheets
(In thousands)
May 30,
2026
August 30,
2025
ASSETS
(Unaudited)
Current Assets:
Cash and cash equivalents
$
74,094
$
56,228
Accounts receivable, net of allowance for credit losses
413,258
423,306
Inventories
684,118
644,090
Prepaid expenses and other current assets
105,280
102,930
Total current assets
1,276,750
1,226,554
Property, plant and equipment, net
343,887
346,706
Goodwill
724,075
723,702
Identifiable intangibles, net
73,819
85,455
Operating lease assets
48,148
52,464
Other assets
28,982
27,183
Total assets
$
2,495,661
$
2,462,064
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Current portion of debt including obligations under finance leases
$
417,219
$
316,868
Current portion of operating lease liabilities
22,500
22,236
Accounts payable
229,418
225,150
Accrued expenses and other current liabilities
155,596
165,092
Total current liabilities
824,733
729,346
Long-term debt including obligations under finance leases
89,555
168,831
Noncurrent operating lease liabilities
26,150
30,872
Deferred income taxes and tax uncertainties
135,802
136,513
Total liabilities
1,076,240
1,065,562
Commitments and Contingencies
Shareholders' Equity:
Preferred Stock
-
-
Class A Common Stock
57
57
Additional paid-in capital
1,107,522
1,093,630
Retained earnings
451,403
432,622
Accumulated other comprehensive loss
(19,528
)
(20,736
)
Class A treasury stock, at cost
(120,033
)
(117,363
)
Total MSC Industrial shareholders' equity
1,419,421
1,388,210
Noncontrolling interest
-
8,292
Total shareholders' equity
1,419,421
1,396,502
Total liabilities and shareholders' equity
$
2,495,661
$
2,462,064
MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
Thirteen Weeks Ended
Thirty-Nine Weeks Ended
May 30,
2026
May 31,
2025
May 30,
2026
May 31,
2025
Net sales
$
1,047,083
$
971,145
$
2,930,541
$
2,791,346
Cost of goods sold
616,678
573,406
1,729,871
1,650,190
Gross profit
430,405
397,739
1,200,670
1,141,156
Operating expenses
323,660
312,324
945,570
917,465
Restructuring and other costs
-
2,680
7,324
6,430
Income from operations
106,745
82,735
247,776
217,261
Other income (expense):
Interest expense
(5,383
)
(6,031
)
(16,386
)
(18,332
)
Interest income
156
368
561
942
Other income (expense), net
2,726
(1,958
)
(4,175
)
(12,442
)
Total other expense
(2,501
)
(7,621
)
(20,000
)
(29,832
)
Income before provision for income taxes
104,244
75,114
227,776
187,429
Provision for income taxes
25,539
18,253
55,805
45,727
Net income
78,705
56,861
171,971
141,702
Less: Net (loss) income attributable to noncontrolling interest
(1,657
)
16
(2,679
)
(1,080
)
Net income attributable to MSC Industrial
$
80,362
$
56,845
$
174,650
$
142,782
Per share data attributable to MSC Industrial:
Net income per common share:
Basic
$
1.44
$
1.02
$
3.13
$
2.56
Diluted
$
1.44
$
1.02
$
3.12
$
2.55
Weighted-average shares used in computing
net income per common share:
Basic
55,838
55,694
55,817
55,795
Diluted
55,990
55,765
55,955
55,895
MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Comprehensive Income
(In thousands)
(Unaudited)
Thirteen Weeks Ended
Thirty-Nine Weeks Ended
May 30,
2026
May 31,
2025
May 30,
2026
May 31,
2025
Net income, as reported
$
78,705
$
56,861
$
171,971
$
141,702
Other comprehensive income, net of tax:
Foreign currency translation adjustments
(1,172
)
6,208
1,557
(454
)
Comprehensive income
77,533
63,069
173,528
141,248
Comprehensive income attributable to noncontrolling interest:
Net loss (income)
1,657
(16
)
2,679
1,080
Foreign currency translation adjustments
82
(362
)
(349
)
(71
)
Comprehensive income attributable to MSC Industrial
$
79,272
$
62,691
$
175,858
$
142,257
MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Thirty-Nine Weeks Ended
May 30,
2026
May 31,
2025
Cash Flows from Operating Activities:
Net income
$
171,971
$
141,702
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
75,788
67,501
Amortization of cloud computing arrangements
964
1,439
Non-cash operating lease cost
17,691
17,563
Stock-based compensation
14,423
10,397
Loss on disposal of property
611
1,742
Property, plant and equipment asset impairment
1,890
-
Non-cash changes in fair value of estimated contingent consideration
(696
)
293
Provision for credit losses
8,054
5,699
Expenditures for cloud computing arrangements
(3,896
)
(4,430
)
Deferred income taxes and tax uncertainties
(578
)
(726
)
Changes in operating assets and liabilities:
Accounts receivable
2,959
(3,806
)
Inventories
(37,951
)
(4,761
)
Prepaid expenses and other current assets
(357
)
(2,335
)
Operating lease liabilities
(17,834
)
(17,700
)
Other assets
4
62
Accounts payable and accrued liabilities
(7,508
)
40,821
Total adjustments
53,564
111,759
Net cash provided by operating activities
225,535
253,461
Cash Flows from Investing Activities:
Expenditures for property, plant and equipment
(64,130
)
(71,109
)
Cash used in acquisitions
(240
)
(790
)
Net proceeds from sale of property
1,057
30,336
Net cash used in investing activities
(63,313
)
(41,563
)
Cash Flows from Financing Activities:
Repurchases of Class A Common Stock
(13,894
)
(39,138
)
Payments of regular cash dividends
(145,752
)
(142,252
)
Proceeds from sale of Class A Common Stock in connection with Associate Stock Purchase Plan
2,999
3,193
Borrowings under credit facilities
271,000
239,250
Payments under credit facilities
(251,000
)
(226,750
)
Purchase of noncontrolling interest
(8,195
)
-
Other, net
568
(3,901
)
Net cash used in financing activities
(144,274
)
(169,598
)
Effect of foreign exchange rate changes on cash and cash equivalents
(82
)
(196
)
Net increase in cash and cash equivalents
17,866
42,104
Cash and cash equivalents - beginning of period
56,228
29,588
Cash and cash equivalents - end of period
$
74,094
$
71,692
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes
$
58,763
$
35,402
Cash paid for interest
$
16,448
$
18,036
Non-GAAP Financial Measures
To supplement MSC's unaudited selected financial data presented consistent with accounting principles generally accepted in the United States ("GAAP"), the Company discloses certain non-GAAP financial measures, including non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP incremental operating margin, non-GAAP provision for income taxes, non-GAAP net income and non-GAAP diluted earnings per share, that exclude items such as share reclassification litigation costs, employee retention credit ("ERC") tax benefit, restructuring and other costs, property, plant and equipment asset impairment and loss on sale of property (prior year), and tax effects, as well as free cash flow conversion, which is a measure calculated using free cash flow, which is a non-GAAP measure.
These non-GAAP financial measures are not presented in accordance with GAAP or alternatives for GAAP financial measures and may be different from similar non-GAAP financial measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP financial measure and should only be used to evaluate MSC's results of operations in conjunction with the corresponding GAAP financial measure.
This press release also includes certain forward-looking information that is not presented in accordance with GAAP, including adjusted operating margin and free cash flow conversion. The Company believes that a quantitative reconciliation of such forward-looking information to the most directly comparable financial measures calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts because a reconciliation of these non-GAAP financial measures would require the Company to predict the timing and likelihood of potential future events such as restructurings, M&A activity, capital expenditures and other infrequent or unusual gains and losses. Neither the timing or likelihood of these events, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of such forward-looking information to the most directly comparable GAAP financial measures is not provided.
Incremental Operating Margin and Adjusted Incremental Operating Margin
The Company defines Incremental Operating Margin as the change in year-over-year Income from Operations as a percentage of the change in year-over-year Net Sales and Adjusted Incremental Operating Margin as Incremental Operating Margin adjusted to exclude such items listed above from Income from Operations. The Company's management believes that Incremental Operating Margin is useful because it shows the direction that operating profit margins are moving as a result of changes in net sales between periods, and that, by excluding the aforementioned items, Adjusted Incremental Operating Margin helps to more clearly show, on a comparable basis between periods, trends in the Company's underlying business and results of operations. The Company believes that investors benefit from seeing results from the perspective of management in addition to seeing results presented in accordance with GAAP for the same reasons and purposes for which management uses such non-GAAP financial measures.
FCF is a non-GAAP financial measure. FCF is used in addition to and in conjunction with results presented in accordance with GAAP, and FCF should not be relied upon to the exclusion of GAAP financial measures. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and to not rely on any single financial measure. FCF, which we reconcile to "Net cash provided by operating activities," is cash flow from operations reduced by "Expenditures for property, plant and equipment". We believe that FCF, although similar to cash flow from operations, is a useful additional measure since capital expenditures are a necessary component of ongoing operations. Management also views FCF, as a measure of the Company's ability to reduce debt, add to cash balances, pay dividends, and repurchase stock. FCF has limitations due to the fact that it does not represent the residual cash flow available for discretionary expenditures. For example, FCF does not incorporate payments made on finance lease obligations or required debt service payments. In addition, different companies define FCF differently. Therefore, we believe it is important to view FCF as a complement to our entire consolidated statements of cash flows. FCF Conversion is useful to investors for the foregoing reasons and as a measure of the rate at which the Company converts its net income reported in accordance with GAAP to cash inflows, which helps investors assess whether the Company is generating sufficient cash flow to provide an adequate return.
Results Excluding Share Reclassification Litigation Costs, ERC Tax Benefit, Restructuring and Other Costs, Property, Plant and Equipment Asset Impairment and Loss on Sale of Property (prior year), and tax effects.
In calculating certain non-GAAP financial measures, we exclude items such as share reclassification litigation costs, ERC tax benefit, restructuring and other costs, property, plant and equipment asset impairment and loss on sale of property (prior year), and tax effects.
Management makes these adjustments to facilitate a review of the Company's operating performance on a comparable basis between periods, for comparing with forecasts and strategic plans, for identifying and analyzing trends in the Company's underlying business and for benchmarking performance externally against competitors. We believe that investors benefit from seeing results from the perspective of management in addition to seeing results presented in accordance with GAAP for the same reasons and purposes for which management uses such non-GAAP financial measures.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 30, 2026
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Share Reclassification Litigation Costs
ERC Tax Benefit
Adjusted Total MSC Industrial
Net Sales
$
1,047,083
$
-
$
-
$
1,047,083
Cost of Goods Sold
616,678
-
-
616,678
Gross Profit
430,405
-
-
430,405
Gross Margin
41.1
%
-
%
-
%
41.1
%
Operating Expenses
323,660
4,489
-
319,171
Operating Expenses as % of Sales
30.9
%
(0.4)
%
-
%
30.5
%
Income from Operations
106,745
(4,489
)
-
111,234
Operating Margin
10.2
%
0.4
%
-
%
10.6
%
Total Other Expense
(2,501
)
-
5,129
(7,630
)
Income before provision for income taxes
104,244
(4,489
)
5,129
103,604
Provision for income taxes
25,539
(1,100
)
1,256
25,383
Net income
78,705
(3,389
)
3,873
78,221
Net loss attributable to noncontrolling interest
(1,657
)
-
-
(1,657
)
Net income attributable to MSC Industrial
$
80,362
$
(3,389
)
$
3,873
$
79,878
Net income per common share:
Diluted
$
1.44
$
(0.06
)
$
0.07
$
1.43
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 30, 2026
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Share Reclassification Litigation Costs
ERC Tax Benefit
Property, Plant and Equipment Asset Impairment
Adjusted Total MSC Industrial
Net Sales
$
2,930,541
$
-
$
-
$
-
$
-
$
2,930,541
Cost of Goods Sold
1,729,871
-
-
-
-
1,729,871
Gross Profit
1,200,670
-
-
-
-
1,200,670
Gross Margin
41.0
%
-
%
-
%
-
%
-
%
41.0
%
Operating Expenses
945,570
-
4,540
-
1,890
939,140
Operating Expenses as % of Sales
32.3
%
-
%
(0.2)
%
-
%
(0.1)
%
32.0
%
Restructuring and Other Costs
7,324
7,324
-
-
-
-
Income from Operations
247,776
(7,324
)
(4,540
)
-
(1,890
)
261,530
Operating Margin
8.5
%
0.2
%
0.2
%
-
%
0.1
%
8.9
%
Total Other Expense
(20,000
)
-
-
5,129
-
(25,129
)
Income before provision for income taxes
227,776
(7,324
)
(4,540
)
5,129
(1,890
)
236,401
Provision for income taxes
55,805
(1,794
)
(1,113
)
1,257
(463
)
57,918
Net income
171,971
(5,530
)
(3,427
)
3,872
(1,427
)
178,483
Net loss attributable to noncontrolling interest
(2,679
)
-
-
-
-
(2,679
)
Net income attributable to MSC Industrial
$
174,650
$
(5,530
)
$
(3,427
)
$
3,872
$
(1,427
)
$
181,162
Net income per common share:
Diluted
$
3.12
$
(0.10
)
$
(0.06
)
$
0.07
$
(0.03
)
$
3.24
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 30, 2026 and May 31, 2025
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Share Reclassification Litigation Costs
Loss on Sale of Property
Adjusted Total MSC Industrial
Net Sales - thirteen weeks ended May 30, 2026
$
1,047,083
-
-
-
$
1,047,083
Net Sales - thirteen weeks ended May 31, 2025
971,145
-
-
-
971,145
Income from Operations - thirteen weeks ended May 30, 2026
106,745
-
(4,489
)
-
111,234
Income from Operations - thirteen weeks ended May 31, 2025
82,735
(2,680
)
(644
)
(1,167
)
87,226
Incremental Operating Margin - thirteen weeks ended May 30, 2026
31.6
%
(3.5)
%
5.1
%
(1.5)
%
31.6
%
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 30, 2026 and May 31, 2025
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Share Reclassification Litigation Costs
Property, Plant and Equipment Asset Impairment
Loss on Sale of Property
Adjusted Total MSC Industrial
Net Sales - thirty-nine weeks ended May 30, 2026
$
2,930,541
-
-
-
-
$
2,930,541
Net Sales - thirty-nine weeks ended May 31, 2025
2,791,346
-
-
-
-
2,791,346
Income from Operations - thirty-nine weeks ended May 30, 2026
247,776
(7,324
)
(4,540
)
(1,890
)
-
261,530
Income from Operations - thirty-nine weeks ended May 31, 2025
217,261
(6,430
)
(644
)
-
(1,167
)
225,502
Incremental Operating Margin - thirty-nine weeks ended May 30, 2026
21.9
%
0.6
%
2.8
%
1.4
%
(0.8)
%
25.9
%
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 31, 2025
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Loss on Sale of Property
Share Reclassification Litigation Costs
Adjusted Total MSC Industrial
Net Sales
$
971,145
$
-
$
-
$
-
$
971,145
Cost of Goods Sold
573,406
-
-
-
573,406
Gross Profit
397,739
-
-
-
397,739
Gross Margin
41.0
%
-
%
-
%
-
%
41.0
%
Operating Expenses
312,324
-
1,167
644
310,513
Operating Expenses as % of Sales
32.2
%
-
%
(0.1)
%
(0.1)
%
32.0
%
Restructuring and Other Costs
2,680
2,680
-
-
-
Income from Operations
82,735
(2,680
)
(1,167
)
(644
)
87,226
Operating Margin
8.5
%
0.3
%
0.1
%
0.1
%
9.0
%
Total Other Expense
(7,621
)
-
-
-
(7,621
)
Income before provision for income taxes
75,114
(2,680
)
(1,167
)
(644
)
79,605
Provision for income taxes
18,253
(651
)
(284
)
(156
)
19,344
Net income
56,861
(2,029
)
(883
)
(488
)
60,261
Net income attributable to noncontrolling interest
16
-
-
-
16
Net income attributable to MSC Industrial
$
56,845
$
(2,029
)
$
(883
)
$
(488
)
$
60,245
Net income per common share:
Diluted
$
1.02
$
(0.04
)
$
(0.02
)
$
(0.01
)
$
1.08
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 31, 2025
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Loss on Sale of Property
Share Reclassification Litigation Costs
Adjusted Total MSC Industrial
Net Sales
$
2,791,346
$
-
$
-
$
-
$
2,791,346
Cost of Goods Sold
1,650,190
-
-
-
1,650,190
Gross Profit
1,141,156
-
-
-
1,141,156
Gross Margin
40.9
%
-
%
-
%
-
%
40.9
%
Operating Expenses
917,465
-
1,167
644
915,654
Operating Expenses as % of Sales
32.9
%
-
%
0.0
%
0.0
%
32.8
%
Restructuring and Other Costs
6,430
6,430
-
-
-
Income from Operations
217,261
(6,430
)
(1,167
)
(644
)
225,502
Operating Margin
7.8
%
0.2
%
0.0
%
0.0
%
8.1
%
Total Other Expense
(29,832
)
-
-
-
(29,832
)
Income before provision for income taxes
187,429
(6,430
)
(1,167
)
(644
)
195,670
Provision for income taxes
45,727
(1,574
)
(285
)
(157
)
47,743
Net income
141,702
(4,856
)
(882
)
(487
)
147,927
Net loss attributable to noncontrolling interest
(1,080
)
-
-
-
(1,080
)
Net income attributable to MSC Industrial
$
142,782
$
(4,856
)
$
(882
)
$
(487
)
$
149,007
Net income per common share:
Diluted
$
2.55
$
(0.09
)
$
(0.02
)
$
(0.01
)
$
2.67
*Individual amounts may not agree to the total due to rounding.
Metalsource Mining oznámila, že vrt SH26-19 v Silver Hill prodloužil se vznikající vysoce kvalitní polymetalické jádro asi o 33 metrů po směru úklonu. Průnik vynesl 6,28 metru s 1 156 g/t AgEq, včetně 3,6 metru s 1 789 g/t AgEq.
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce additional assay results from its ongoing drill program at Silver Hill, where systematic step out drilling continues to improve management's understanding of the continuity and orientation of a growing high grade polymetallic system. Hole SH26-19 returned 6.28 metres grading 1,156 g/t silver equivalent ("AgEq"), including 3.6 metres grading 1,789 g/t AgEq. Positioned at the southern edge of recent drilling, the intersection contains elevated gold and silver values coincident with high grade massive sphalerite, providing additional confidence in the Company's evolving geological model and continued vectoring toward new mineralization.
The Silver Hill polymetallic system remains open along strike, down plunge and at depth. With multiple drill hole results currently pending, Metalsource believes the current exploration program is still in the early stages of defining the scale and continuity of the system.
SH26-19: Tested the down plunge projection of the emerging high grade polymetallic corridor defined by drill holes SH25-01, SH25-02, SH26-07 and SH26-11. The hole returned composite values of up to 35% combined lead and zinc and up to 16.5 g/t gold, further supporting management's evolving geological model and continued vectoring toward higher grade portions of the system. Mineralization encountered in SH26-19 comprises two mineralized intervals separated by less than two metres. The upper 3.60 metre interval is characterized by elevated gold and zinc values with moderate silver and lead. The lower interval (224.00 m to 228.23 m) is characterized by elevated silver and lead values with moderate gold and zinc.
A 3.05 metre interval of core was not recovered between 224.88 metres and 227.93 metres. Based on the position of the interval relative to mapped historic underground workings, the Company interprets the core loss to represent previously mined material. High grade mineralization intersected immediately above and below the interval is consistent with this interpretation and provides additional support for the continuity of the mineralized corridor across the historic workings. Additional drilling will be required to confirm continuity through the interpreted mined section.
SH26-19 continues to support our thesis that Silver Hill is a viable exploration target with widespread polymetallic mineralization that has an emerging high-grade core. This trend continues to guide exploration planning as we work to grow mineralization along strike and down dip. Step out drilling to the south of SH26-19 is in progress.
Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)AgEq (g/t)SH26-19218.60224.886.289.954.03.721.70.11,156Including218.60222.203.6016.543.72.832.20.11,789Including224.00224.880.882.7157.310.818.90.3762And227.93228.230.303.364.64.215.90.3609Table 1: Composite assay results from SH26-19. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq calculations below.
Figure 1: Panoramic photograph showing mineralization from SH26-19.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/303407_c9928610d4fde9c0_002full.jpg
Figure 2: Plan view of the Silver Hill project area showing the location of Pads 1-5. Transparent aerial image shows position of underground historic workings.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/303407_c9928610d4fde9c0_003full.jpg
Figure 3: Long section looking southeast (113°) showing intercept locations colored by AgEq. Black dots indicate intercepts with pending assays. Note: Small colored dots within historic workings are bulk samples taken by previous workers and are colored by AgEq.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/303407_c9928610d4fde9c0_004full.jpg
Joe Cullen, CEO of Metalsource Mining, commented:
"Hole SH26-19 represents another important step forward in our understanding of the Silver Hill system. While the grades are certainly encouraging, what excites us most is that this hole successfully extends the emerging high grade corridor approximately 33 metres down plunge while continuing to demonstrate the continuity of silver, gold, lead and zinc mineralization. Each successful step out gives us greater confidence that we're tracking a coherent mineralized system rather than isolated high grade zones.
"As our geological model continues to evolve, we believe we're becoming increasingly effective at vectoring toward the higher grade portions of the system. The consistency of the polymetallic mineralization, combined with repeated success in our step out drilling, is helping us systematically refine where we focus the drill bit.
"Just as importantly, this is only one piece of a much larger exploration strategy. Multiple assays remain pending from the current drill program, additional property scale targets continue to emerge through our IP surveys, and we are actively advancing initiatives designed to aggressively accelerate exploration across Silver Hill. As our confidence in the geological model continues to grow, we're evaluating opportunities to increase drilling capacity so we can continue expanding known mineralization while testing new targets across the broader district. We believe we're still in the early stages of understanding what Silver Hill may ultimately become."
What's Next
Multiple Assays Pending: Results remain outstanding from several completed drill holes, providing a continued pipeline of near term exploration catalysts as the current campaign advances.Accelerating Exploration: Building on continued drilling success and encouraging property scale geophysical results, the Company is advancing initiatives to increase drilling capacity and accelerate exploration across Silver Hill.Expanding the District-Scale Opportunity: Ongoing geological interpretation, combined with recently completed IP surveys, continues to identify additional priority targets both within and beyond the historically mined area, supporting management's broader district scale exploration strategy.Refining the Geological Model: As drilling, geophysics and structural interpretation continue to converge, Metalsource expects to further refine targeting of the highest grade portions of the system while systematically expanding the known mineralized footprint.Evaluating Strategic Land Expansion: Metalsource is assessing opportunities to expand its land position in prospective areas identified through geological and geophysical analysis, strengthening its ability to explore district-scale potential.Why This Matters to Investors
Hole SH26-19 represents more than another high grade intercept. It demonstrates that Metalsource continues to successfully extend mineralization while improving its understanding of the geometry and continuity of the emerging high grade core at Silver Hill.
Every successful step out reduces geological uncertainty and improves management's ability to target future drilling. Rather than simply confirming historic mineralization, the Company is now systematically expanding the known footprint of the system while refining the structural controls that appear to influence higher grade mineralization.
Importantly, this result represents only one component of a much broader exploration program. Multiple drill holes remain pending from the current campaign, additional exploration targets continue to be generated through property scale IP surveys, and management is advancing plans to accelerate exploration across the district. Together, these initiatives are designed to expand the known mineralized footprint, evaluate new discovery opportunities and advance Silver Hill toward an inaugural modern resource estimate.
Drill Hole IDEasting (m)Northing (m)Elev. (m)AzimuthDipLength (m)StatusSH25-015724083951597224107-63109CompleteSH25-02572408395159722496-85101CompleteSH25-03572410395175123696-46305CompleteSH25-045724103951751236352-89100CompleteSH26-055722803951624262125-73199CompleteSH26-065722803951624262129-51154Assay PendingSH26-07572280395162426274-89200CompleteSH26-085722803951624262297-77231CompleteSH26-09572237395159026289-7015Abandoned SH26-10572237395159026291-76188CompleteSH26-11572237395159026226-83197CompleteSH26-125722373951590262293-84255Assay PendingSH26-135722373951590262145-82215Assay PendingSH26-145722373951590262125-67185Assay PendingSH26-155721683951658261107-79267CompleteSH26-16572168395165826185-76267CompleteSH26-17572168395165826194-61245CompleteSH26-185721683951658261120-70297CompleteSH26-195721683951658261131-76258CompleteSH26-205721683951658261133-80276Assay PendingSH26-215721683951658261168-86288Assay PendingSH26-225721683951658261111-86285Assay PendingSH26-23572168395165826171-87288Assay PendingSH26-24572168395165826155-84288Assay PendingTable 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N.
Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.
The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.
*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.
Qualified Person
All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 – Standards of Disclosure for Mineral Projects.
Silver Hill Project
Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.
Byrd-Pilot Mountain Project
The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.
About Metalsource Mining Inc.
Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.
Metalsource Mining
America's First Silver Mine. Modern Exploration. Historic Opportunity.
For further information, please contact:
Joe Cullen CEO – Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]
Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303407
Source: Metalsource Mining Inc.
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Metalsource Mining oznámila nové výsledky vrtů na Silver Hill: vrt SH26-18 prodloužil mineralizaci asi o 28 metrů a potvrdil vysoce kvalitní koridor s 245 g/t AgEq na 11,8 metru.
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce additional assay results from its ongoing exploration program at the Silver Hill Project. The latest results continue to strengthen confidence in the continuity of the Silver Hill polymetallic system, with successful step out drilling extending mineralization beyond historical workings while refining the Company's understanding of a newly identified high grade zone. Hole SH26-18 returned 11.8 metres grading 245 g/t silver equivalent ("AgEq"), including 833 g/t AgEq over 1.4 metres and 1,580 g/t AgEq over 0.64 metres, while extending mineralization approximately 28 metres south of previously reported hole SH26-08. The results further support management's belief that mineralization remains open along strike, down plunge and at depth, with multiple assays still pending from the current drill campaign.
SH26-17: Explores the northern edge of our recently identified high-grade zone which is locally internal to the widespread mineralization delineated thus far in the project. SH26-17 identifies the target horizon between 185.59 and 185.75m with combined Pb-Zn values up to 14.3%, demonstrating mineralization remains open to the north. Additionally, this result shows that local variation in width and grade are common at Silver Hill.
SH26-18: 28m south step out from SH26-08, demonstrating continuity of widespread mineralization and improved targeting of recently defined high grade plunging mineralization (47°/276°). Results of 32.5% combined Pb-Zn and 13.8g/t Au between 199.40 and 200.04m increases vector confidence for down plunge targeting.
These results continue to inform our understanding of the deposit morphology, grade variation, and orientation of internal high-grade plunging mineralization within the wider polymetallic footprint at Silver Hill. These are critical developments for improving exploration targeting.
Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)AgEq (g/t)SH26-17185.59185.750.150.721.53.810.50.5292SH26-18199.40211.2311.831.434.32.25.40.1245Including199.40200.801.407.319.71.516.00.3833Including199.40200.040.6413.836.82.729.80.71,580Including208.94211.232.291.7152.79.816.00.4636Table 1: Composite assay results from SH26-17 and SH26-18. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq calculations below.
Figure 1: Panoramic photograph showing mineralization from SH26-18.
To view an enhanced version of this graphic, please visit:
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Figure 2: Plan view of the Silver Hill project area showing the location of Pads 1-5. Transparent aerial image shows position of underground historic workings.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/302620_e753ca4814e3c890_003full.jpg
Figure 3: Long section looking northeast (113°) showing intercept locations colored by AgEq. Black dots indicate intercepts with pending assays. Note: Small colored dots within historic workings are bulk samples taken by previous workers and are colored by AgEq.
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Joe Cullen, CEO of Metalsource Mining, commented:
"These results are significant because they continue to demonstrate continuity within the system while validating our evolving geological model. Hole SH26-18 successfully stepped out approximately 28 metres from Hole SH26-08 and intersected the same style of strong silver, gold, lead and zinc mineralization, giving us increasing confidence that we are tracking a coherent high-grade corridor rather than isolated pockets of mineralization.
What is becoming particularly compelling is the consistency of the metal assemblage. We continue to encounter strong silver and gold grades accompanied by robust lead and zinc values, a combination often associated with powerful mineralizing systems. As our understanding of the geometry improves, we believe we are becoming increasingly effective at vectoring toward the source of this potential mineralization.
The more we learn about Silver Hill, the more intrigued we become by what this system may ultimately hold. Mineralization remains open along strike, down plunge and at depth, and with drilling continuing and numerous assays still pending, we believe we are only beginning to understand the scale and potential of this historic district."
What's Next
Awaiting Multiple Drill Results: Numerous drill holes from the current campaign remain pending, including holes designed to test extensions of mineralization along strike, down plunge, and at depth.
Increasing Drilling Capacity: The Company is advancing plans to secure an additional drill rig, which is expected to accelerate testing of both known mineralization and newly identified exploration targets.
Evaluating Strategic Land Expansion: Metalsource is assessing opportunities to expand its land position in prospective areas identified through geological and geophysical analysis, strengthening its ability to explore district-scale potential.
Integrating New Data to Generate Additional Targets: The Company continues to combine recently completed IP survey results with ongoing drilling data and historical datasets. Early interpretations suggest additional exploration opportunities may exist beyond the currently defined mineralized footprint, with follow-up work underway to refine and prioritize future drill targets.
Advancing the Next Phase of Exploration: Building on the success of the current drilling campaign, Metalsource is actively pursuing several initiatives aimed at accelerating exploration and evaluating the broader potential of the Silver Hill district.
Positioned for Continued Growth: As drilling, geophysics, and geological interpretation continue to converge, the Company is gaining valuable vectoring information to guide future exploration and target generation. Management believes Silver Hill is entering an important phase of growth and looks forward to providing further updates as exploration progresses.
Why This Matters to Investors
Silver Hill is increasingly demonstrating the characteristics of an expanding polymetallic system rather than a series of isolated high-grade intercepts. The significance of Hole SH26-18 is not simply the grade returned, but that it successfully extended mineralization approximately 28 metres from a previously reported high grade intercept while confirming management's evolving geological model.
Each successful step out hole improves confidence in the continuity, geometry and scale of the mineralized system. As Metalsource continues to refine its understanding of the recently identified high grade plunge, drilling is becoming increasingly targeted and effective at testing extensions of known mineralization along strike, down plunge and at depth.
Importantly, mineralization remains open in multiple directions and a significant number of assays remain pending from the current campaign. Combined with the Company's ongoing geophysical work and plans to continue systematic step out drilling, management believes Silver Hill remains in the early stages of defining the full extent of a historic American polymetallic system.
The Company's objective remains straightforward: continue expanding the known mineralized footprint, advance toward an inaugural modern resource estimate, and evaluate the broader exploration potential of the Silver Hill district.
Drill Hole IDEasting (m)Northing (m)Elev. (m)AzimuthDipLength (m)StatusSH25-015724083951597224107-63109CompleteSH25-02572408395159722496-85101CompleteSH25-03572410395175123696-46305CompleteSH25-045724103951751236352-89100CompleteSH26-055722803951624262125-73199CompleteSH26-065722803951624262129-51154Assay PendingSH26-07572280395162426274-89200CompleteSH26-085722803951624262297-77231CompleteSH26-09572237395159026289-7015Abandoned SH26-10572237395159026291-76188CompleteSH26-11572237395159026226-83197CompleteSH26-125722373951590262293-84255Assay PendingSH26-135722373951590262145-82215Assay PendingSH26-145722373951590262125-67185Assay PendingSH26-155721683951658261107-79267CompleteSH26-16572168395165826185-76267CompleteSH26-17572168395165826194-61245CompleteSH26-185721683951658261120-70297CompleteSH26-195721683951658261131-76258Assay PendingSH26-205721683951658261133-80276Assay PendingSH26-215721683951658261168-86288Assay PendingSH26-225721683951658261111-86285Assay PendingSH26-23572168395165826171-87288Assay PendingSH26-24572168395165826155-84288Assay PendingTable 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N.Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.
The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.
*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.
Further, the Company has granted an aggregate 500,000 restricted share units, valid for a term of three years, to consultants of the Company. The restricted share units are issued pursuant to the Company’s share compensation plans and are subject to vesting over a one-year term, in addition to a statutory hold period of four months and one day from issuance.
Qualified Person
All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects.
Silver Hill Project
Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. The property historically hosts the first significant discovery and first silver-producing mine in America and is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions. Recent surface sampling bolsters the historic dataset; results include SH25-003, which returned 444g/t Ag, 17.7 g/t Au, 8.61% Pb, and 0.507% Zn.
Byrd-Pilot Mountain Project
The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.
About Metalsource Mining Inc.
Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as the historic location of America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.
Metalsource Mining Inc.
America's First Silver Mine. Modern Exploration. Historic Opportunity.
For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]
Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302620
Source: Metalsource Mining Inc.
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
