Outcrop Silver & Gold

What Outcrop Silver & Gold does

Outcrop Silver & Gold Corporation is a pre-revenue mining exploration company headquartered in Vancouver, Canada, focused on advancing the Santa Ana high-grade silver project in the Tolima Department of Colombia. The company traces its origins to Miranda Gold Corp. (founded 2004), was renamed Outcrop Gold Corp. in February 2019, and rebranded to its current form following the acquisition of the Santa Ana project from Cedar Capital Corporation. It has been publicly traded on the TSX (ticker OCG) since graduating from the TSX Venture Exchange in November 2025, and is also cross-listed on OTCQX (OCGSF) and the Frankfurt Stock Exchange (MRG).

The company's core asset is a 100%--owned interest in Santa Ana, comprising over 27,697 hectares (6,475 ha titled) with 60+ kilometres of mapped vein zones across a 12 km wide by 30 km long trend. Exploration work includes over 330 diamond drill holes (only ~17% of mapped veins drilled) supporting an NI 43-101 compliant maiden indicated resource of 24.1 million ounces silver equivalent at 614 g/t AgEq and an inferred resource of 13.5 million ounces at 435 g/t AgEq. Technical work leverages Leapfrog Geo and Datamine Studio for geological modeling using Ordinary Kriging, with metallurgical test work demonstrating 98.5% gold and 96.3% silver recoveries and commercial concentrate grades of 12,133 g/t silver and 172 g/t gold. The portfolio also includes three gold exploration projects (Mallama, Oribella, Argelia) operated under a prospect generator model.

Outcrop Silver currently generates no revenue and is funded entirely through equity capital raises. Cumulative disclosed financing since 2019 totals roughly $55 million across nine-plus rounds, with recent support led by Eric Sprott and Jupiter Asset Management, including a $23 million public offering in October 2025. The company's "customers" are institutional and retail investors in the mining sector; its go-to-market is investor relations driven via press releases, exchange filings, the corporate website, and direct IR outreach. Management comprises 51-100 employees, with leadership including CEO Rob Bruggeman and VP Exploration Carlos Torres (appointed May 2026). Strategic intent is to advance Santa Ana through expanded drilling, an updated mineral resource estimate expected Q3 2026, and progression toward preliminary economic studies and eventual commercial production.

Name

Outcrop Silver & Gold

Legal name

Outcrop Silver & Gold Corporation

Website

https://outcropsilver.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

Outcrop Silver & Gold is a pre-revenue mining exploration company advancing the Santa Ana high-grade silver project in Colombia, with an NI 43-101 indicated resource of 24.1 million ounces silver equivalent and three additional gold exploration projects in its portfolio.

Ownership category

akta.pro rank

Product category

Precious Metals Mining Exploration

NAICS

Gold Ore and Silver Ore Mining (212220), Gold Ore and Silver Ore Mining (21222)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Silver Mining (IMAKAEAB)

akta.pro secondary industries

Precious Metals Exploration & Project Development (IMAKAEAI), Gold Mining (IMAKAEAA), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)

Keywords

• Silver mining exploration
• Gold mining exploration
• Mineral resource estimation
• Diamond drilling services
• Mining project development

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mineral Exploration and Development: Pre-revenue exploration stage company. Revenue will be generated from future silver and gold production once the Santa Ana project is advanced to commercial production. Currently funded entirely by equity capital raises and investor financing.
2. Future Silver and Gold Production: Revenue will come from future extraction and sale of silver and gold from the Santa Ana project in Colombia upon reaching commercial production.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Outcrop Silver & Gold Corporation is a publicly-traded mineral exploration company advancing its flagship Santa Ana high-grade silver project in the Mariquita District of Tolima Department, Colombia. The company conducts diamond drilling, geological modeling, and metallurgical testing to define and expand silver and gold mineral resources, and also holds three gold exploration projects (Mallama, Oribella, and Argelia) in Colombia. Exploration activities are funded primarily through public offerings and private placements, with the company positioned to become a future silver and gold producer.

Product overview

Outcrop Silver & Gold Corporation is a mining exploration company with a portfolio of Colombian projects focused on silver and gold discovery. The company's primary offering is the Santa Ana high-grade silver project, supplemented by three gold exploration projects (Mallama, Oribella, and Argelia). Santa Ana is the flagship project in advanced exploration, while the gold projects represent potential discovery opportunities. The company operates using a prospect generator model, conducting exploration and seeking joint venture partnerships to advance projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Santa Ana Silver Project 100% owned flagship high-grade silver project located in Falan, Tolima Department, Colombia. The project covers over 27,697 hectares with six or more mapped vein zones across a 12-kilometre-wide and 30-kilometre-long trend. Currently in advanced exploration stage with over 330 diamond drill holes completed and a maiden mineral resource estimate of 24.2 million ounces silver equivalent (indicated) at 614 g/t AgEq plus 13.5 million ounces (inferred) at 435 g/t AgEq. Metallurgical test work demonstrates commercial concentrate grades of 12,133 g/t silver and 172 g/t gold with recoveries of 96.3% silver and 98.5% gold.
• Mallama Gold Project Gold exploration project in Nariño Department, Colombia. Part of a large district containing over 30 mapped intermediate sulfidation epithermal veins with strike lengths exceeding 4 km. Currently held as an early-stage exploration asset in the company's project portfolio.
• Oribella Gold-Copper Project

Quantifiable outcome

• 24.2 million ounces silver equivalent indicated resource grading 614 g/t AgEq; 13.5 million ounces inferred grading 435 g/t AgEq
• +4 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Cedar Capital CorporationcoreStrategic or Co-development Partner · 6 February 2019Outcrop Gold acquired the Santa Ana project from Cedar Capital Corporation, a private British Columbia company, through a share purchase agreement. Cedar's subsidiary Malew Overseas S.A. (through Lost City S.A.S.) owned the Santa Ana property. The transaction was subject to TSX Venture Exchange approval and was completed in 2019.

Scale indicators9 records

Recent moves10 records

Expansion highlights4 records

Direct peers

• MAG Silver Corp. Mid-tier silver-focused developer with the Juanicipio project in Mexico. Highly comparable to Outcrop Silver as a high-grade primary silver project advancing toward production with institutional sponsorship and a similar investor base.
• SilverCrest Metals Inc. Silver-gold developer with Las Chispas in Mexico; comparable high-grade epithermal silver-gold vein system targeting production. Similar grade profile and project-stage risk/return dynamics.
• Vizsla Silver Corp. Silver-gold exploration/development company focused on the Panuco project in Mexico. Closely comparable pre-revenue high-grade silver developer with similar drilling-driven resource growth strategy.
• Silver Tiger Metals Inc. Silver developer advancing the El Tigre project in Mexico. Comparable pre-revenue high-grade silver-gold epithermal system with NI 43-101 resource and similar TSX-listing profile.
• New Pacific Metals Corp. Silver-focused exploration and development company with the Silver Sands project in Bolivia. Closely comparable pre-revenue silver developer with similar institutional-investor profile and silver-only thesis.

Broad incumbents

• Endeavour Silver Corp. Established mid-tier silver producer with multiple operating mines in Mexico. Comparable as a primary-silver-focused company; broader incumbent with production cash flow rather than pure exploration.
• First Majestic Silver Corp. Senior silver producer operating multiple mines in Mexico. Overlap with Outcrop Silver through pure-silver focus and Mexican/Latin American jurisdiction expertise, but is a producing incumbent.
• Coeur Mining Inc. Mid-tier precious-metals producer with silver-dominant operations across the Americas. Comparable as a silver-focused mining peer in the same jurisdictions, but is a much larger diversified incumbent.

Regional players

• Aris Mining Corporation: Gold-focused miner with producing assets and exploration projects in Colombia and Guyana. Closely comparable as a Colombia-focused precious-metals peer with overlapping operational geography and jurisdictional expertise.
• Orosur Mining Inc. Junior explorer/developer with projects in Colombia and other jurisdictions. Comparable regional peer with Colombian exploration footprint and prior Newmont strategic investment, similar market-cap and stage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/OutcropGold

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds9 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Outcrop Silver & Gold