Blende holder Callaghan to dispose of 2 million shares

• J. Frank Callaghan, a controlling shareholder holding approximately 20.05% of outstanding shares, has filed an Early Warning Report to dispose of up to 2,000,000 common shares.
• The intended sale represents approximately 2.46% of the company's total outstanding share count (81,383,120).
• Following this disposition, Callaghan's ownership stake will reduce from ~20% to roughly 17.5%.
• This filing is a regulatory requirement for major shareholders disposing of significant holdings and does not indicate an immediate loss of control but signals liquidity needs or profit-taking by the insider.

• The news is categorized as Routine - Negative because Early Warning Reports are standard regulatory filings expected once a disposal decision is made, rather than unexpected corporate events like M&A or resource downgrades.
• However, the timing is significant; the sale occurs immediately after a sharp price rally from $0.12 (April) to nearly $0.30 (May), suggesting insiders may be taking profits ahead of potential dilution or regulatory hurdles.
• The disposal creates a supply overhang that will likely cap upside momentum near current levels, acting as resistance for the stock price in the short term.
• There is no material change to the company's operational assets or project status; the impact is primarily sentiment-driven and liquidity-related.

• Company: Blende Silver Corp., a junior mining company focused on silver-zinc-lead exploration in Canada.
• Flagship Project: The Blende Silver-Zinc-Lead Project located in the Keno Hill district, Yukon (5,345 hectares).
• Project Status: 100% owned property with historical mineralization reported as the largest strata-bound carbonate-hosted zinc-lead deposit in the Yukon.
• Exploration Focus: Currently advancing a 25,000-meter drill program supported by new 3D IP survey data identifying larger anomalies than known zones.
• Regulatory Context: Pursuing Class 4 Quartz Mining Land Use Approval while utilizing Class 1 Exploration Notification for near-term camp installation and drilling.