Silver47 Completes Successful Red Mountain Drill Program and Intersects Massive Sulfides in Multiple Holes

Executive Summary

• Silver47 completed its 2025 summer drill program at the Red Mountain Project (15 holes: 8 at Dry Creek, 7 at West Tundra Flats).
• All assays are pending, but drilling intersected massive to semi‑massive sulfide mineralization across multiple holes.
• The company remains fully funded with approximately $27 million of working capital and plans further drilling in Q4 2025 (Mogollon) and early 2026 (Hughes).

Key Details

• Drill Program Scope: 15 drill holes total – eight at Dry Creek, seven at West Tundra Flats.
• Target Resource Base: Combined inferred resource of 15.6 Mt @ 336 g/t AgEq* (≈168.6 M silver‑equivalent ounces).
• Mineralization Intercepts: Massive, semi‑massive and disseminated sulfides encountered in step‑out and infill holes; assays pending.
• Historical High‑Grade Highlights (for context):
• DC24‑104 – 15.24 m @ 546 g/t AgEq* (including 290 g/t Sb, 32 g/t Ga).
• DC24‑105 – 22.32 m @ 601 g/t AgEq* (503 g/t Sb, 54 g/t Ga).
• WT24‑33 – 2.90 m @ 1,079 g/t AgEq* (920 g/t Sb, 15 g/t Ga).
• DC18‑77 – 4.26 m @ 2,003 g/t AgEq* (4,432 g/t Sb, 97 g/t Ga).
• Project Expansion Potential: Both zones remain open along strike and down‑dip; detailed geological modelling underway to guide 2026 vectoring.
• Critical Minerals Focus: Ongoing metallurgical study evaluating antimony and gallium concentrations for U.S. defense supply‑chain relevance.
• Funding Status: Fully capitalized with ~ $27 M working capital, supporting aggressive drilling on U.S. silver projects.
• QA/QC Protocols: Core sampled at 1 m intervals in mineralized zones (3 m outside), with blanks, duplicates and certified reference materials inserted every 20 samples; analysis performed by ALS Minerals Laboratories (ISO‑9001:2008 & ISO‑17025 accredited).
• Corporate Update: Clarification of brokered private placement closing – issuance of 142,860 advisory warrants to Golden Capital Consulting Ltd. and cash fee payment of $100,002 + tax to Gold Funnel Consulting & Investing Inc.

Notable Quotes

“The 2025 Red Mountain drill program has intersected massive sulfides in multiple holes. With assays pending, we now look forward to drilling at Mogollon in Q4 of this year and Hughes in early 2026. Fully funded with $27 million, we're positioned to accelerate resource growth on our silver and critical mineral projects…” – Galen McNamara, CEO & Director

Materiality Assessment: Non‑Material – Positive (operational update with no immediate financial impact).