Silver47 Announces Mailing of Meeting Materials for Special Meeting of Shareholders

Silver47 Exploration Corp. (AGA) has mailed its notice of special meeting, management information circular and related Meeting Materials to shareholders for a special meeting to be held Tuesday, 27 October 2026. The single item of business is a special resolution (the "Arrangement Resolution") approving the previously announced plan of arrangement under which Bunker Hill Mining Corp. acquires 100% of Silver47's issued and outstanding common shares.

Terms are unchanged from the 21 August 2026 announcement: Silver47 holders receive 0.1724 Bunker Hill shares per Silver47 share. The Board unanimously recommends voting FOR the Arrangement Resolution. Research Capital Corporation provided a fairness opinion to the Silver47 board.

The rationale for the transaction includes an implied ~38% premium to the TSXV close and ~30% to the 20-day VWAP (both measured against Bunker Hill's 20 August 2026 close of C$0.93 implied consideration per Silver47 share); participation in a larger U.S.-focused silver and critical minerals company; enhanced scale, liquidity and institutional appeal; and funding for growth from Bunker Hill's anticipated operating cash flow.

The proxy deadline is Friday, 23 October 2026 at 10:00 a.m. (Vancouver time). Laurel Hill Advisory Group has been retained as proxy solicitation agent. Meeting Materials have been filed on SEDAR+ and posted to the company website.

Silver47 Exploration Corp. holds a combined resource of 236 moz AgEq at 334 g/t AgEq inferred and 10 moz AgEq at 333 g/t AgEq indicated across Alaska, Nevada and New Mexico. This release serves as an administrative/procedural M&A milestone, not an earnings, operating or financing release. There are no new financial terms, no revised consideration and no new technical disclosure in this document.

Silver47 Exploration Corp. (AGA) has mailed proxy materials to shareholders ahead of a vote scheduled for 27 October 2026, with the proxy cut-off date set for 23 October. This procedural step follows the full disclosure of the transaction’s substance on 21 August 2026 and subsequent royalty-related commentary from Lithium Corporation on 25 August 2026.

The exchange ratio, premium, ownership split, board recommendation, fairness opinion provider, and regulatory path were all made public during those earlier announcements. The only new information contained in this release is the confirmation of these specific procedural dates. The transaction remains on its announced timetable and has cleared the drafting and filing stages, reducing timing uncertainty without altering completion risk.

The release promotes an "attractive premium" measured against Bunker Hill's 20 August 2026 share price. However, Silver47 closed at C$0.60 on 6 October 2026, which is roughly 35% below the C$0.93 implied consideration quoted in the release. Because the consideration is 100% Bunker Hill stock, the value Silver47 shareholders will receive floats with Bunker Hill's share price, rendering the release's premium language stale by construction. Shareholders are being asked to vote on a fixed exchange ratio, not a fixed value.

The release does not address whether Silver47's cash position, pending Red Mountain assays, or a US$1,514,578 CDMG marketing agreement have any bearing on closing conditions. For context, for the three months to 31 October 2025, Silver47 reported revenue of nil, SG&A of C$2,125,416, an operating loss of C$8,486,387 and a net loss of C$8,149,445, with cash of C$25,110,203 and total debt of nil.

Silver47 Exploration Corp., a Vancouver-based mineral explorer focused on silver-rich deposits in North America, trades on the TSXV (AGA), OTCQX (AAGAF) and FSE (QP2). The company’s flagship asset is the Red Mountain Project in Alaska’s Bonnifield mining district, located approximately 60 miles south of Fairbanks. The property holds a combined open-pit and underground inferred resource of 168.6 moz AgEq at 336 g/t AgEq. This includes the Dry Creek deposit, which accounts for 11.6 Mt at 279.4 g/t AgEq (104.0 moz AgEq), and West Tundra Flats, which contains 4.0 Mt at 496.9 g/t AgEq (64.6 moz AgEq).

The 2026 drilling program marked the largest in the property's history, with 10,000 m planned across up to three rigs. As of 8 September 2026, 4,136 m across 14 holes had been reported complete. The drilling tested the Dry Creek deposit plus discovery targets including Second Chance, Hunter, WTF East and FOMO across a 60 km trend. Assays remain pending; the 8 September release reported visually observed sulphide intervals only.

In Nevada, the Hughes Project in Tonopah hosts an indicated resource of 0.98 Mt at 333 g/t AgEq (10.3 moz AgEq) and an inferred resource of 2.44 Mt at 421 g/t AgEq (32.9 moz AgEq). It also includes the Belmont historic tailings inferred resource of 1.26 Mt at 68 g/t AgEq (2.74 moz AgEq; 1.8 moz Ag, 11 koz Au). The 2026 program transitioned from a 21-hole auger program in July 2026 to metallurgical testwork. On 21 September 2026, results returned 80% silver and 77% gold extraction via fine-grind agitated cyanide leach at P80 53 µm, while heap leaching was ruled non-viable under tested conditions.

The Mogollon Project in New Mexico holds an inferred resource of 2.72 Mt at 367 g/t AgEq (32.1 moz AgEq). Winter 2026 drilling beneath the historic Last Chance vein returned narrow high grades, including MOG26-23 with 0.3 m at 303 g/t AgEq and MOG26-24 with 1.7 m at 169 g/t AgEq.

The Kennedy Project in Nevada was expanded to 6,150 acres in April 2026 by staking approximately 4,150 additional acres. High-grade gold-silver vein sampling at Borlasca returned 38.7 g/t Au and 1,713 g/t Ag in May 2026. Earlier-stage soil and rock geochemistry at the Adams Plateau Project in BC, conducted in October 2025, returned up to 3,156 g/t AgEq in grab samples.

On closing, Silver47 becomes part of "Bunker Hill Silver Corp.", combining Bunker Hill's operating Bunker Hill Mine in Idaho with Silver47's exploration portfolio under approximately 57% Bunker Hill / approximately 43% Silver47 basic ownership.