BP Silver Corp. Intersects 10.0 Meters Grading 183.62 g/t Silver and 0.59 g/t Gold (239.65 g/t Silver Equivalent), Including 2.0 Meters Grading 506.50 g/t Silver and 1.08 g/t Gold (600 g/t Silver Equivalent) at Cosuno Silver Project, Bolivia

BP Silver Corp. (BPAG) has reported results from two additional Phase 2 diamond drill holes at the Jalsuri North Target within the Cosuño project in Bolivia. The holes, CO-0019 and CO-0016, represent step-outs to the northwest along strike from the discovery hole CO-0015, which was reported on 20 October 2026. The reported intervals are core lengths and do not represent true widths.

Drill hole CO-0019 intersected 10.0 meters at 183.62 g/t silver, 0.59 g/t gold, 233 ppm bismuth, 323 ppm antimony, 0.102% lead, 0.049% copper, and 0.03% zinc, equivalent to 239.65 g/t AgEq, from 3.0 to 13.0 meters. This interval included 2.0 meters at 506.50 g/t silver and 1.08 g/t gold, equivalent to 600.04 g/t AgEq, from 4.0 to 6.0 meters. A highlighted interval within CO-0019 reported 5.0 meters at 294.00 g/t silver and 0.81 g/t gold, equivalent to 369.68 g/t AgEq, from 4.0 to 9.0 meters.

CO-0019 also identified a lower zone extending 100.0 meters at 1.25% zinc, 21.79 g/t silver, and 0.08 g/t gold, equivalent to 2.49% ZnEq, from 2.0 to 102.0 meters. This included 84.0 meters at 1.47% zinc and 2.49 g/t silver, equivalent to 1.59% ZnEq, from 18.0 to 102.0 meters. The hole ended in mineralization.

Drill hole CO-0016 intersected 96.0 meters at 1.37% zinc, 7.17 g/t silver, and 0.03 g/t gold, equivalent to 1.91% ZnEq, from 4.0 to 100.0 meters. This included 21.0 meters at 2.42% zinc and 12.38 g/t silver, equivalent to 3.45% ZnEq, from 50.0 to 71.0 meters. Silver intervals in CO-0016 included 3.0 meters at 110.60 g/t silver, 0.17 g/t gold, 0.76% zinc, 0.31% copper, and 273 ppm bismuth, equivalent to 186.40 g/t AgEq, from 13.0 to 16.0 meters, and 2.0 meters at 56.75 g/t silver, 5.65% zinc, and 0.714% copper, equivalent to 243.45 g/t AgEq, from 52.0 to 54.0 meters. The final 2.0 meters of the hole, from 98 to 100 meters, averaged 4.18% zinc.

Geological analysis indicates the mineralization is hosted in basaltic andesite and andesitic volcanics. The deposit features veinlet, breccia, vug-fill, patchy, and disseminated sulphides, dominated by sphalerite and pyrite with minor chalcopyrite and galena, accompanied by quartz, calcite, barite, and smectite/dickite. The system is interpreted as upper or distal levels of an intermediate-sulphidation epithermal system located beside the Cosuño lithocap, with silver and gold concentrated in the hot core and zinc and lead halos peripheral.

Intersections were calculated using cutoffs of 10 g/t silver and 0.10% zinc, with sub-intervals defined at 30, 60, and 90 g/t silver, and 0.50% and 1.00% zinc. Silver and zinc equivalents were calculated using USGS 2025 average prices: silver at $38/oz, gold at $3,300/oz, zinc at $1.30/lb, copper at $4.80/lb, bismuth at $20/lb, lead at $1.06/lb, and antimony at $25/lb. A flat 90% recovery was assumed for every metal. These calculations are explicitly for illustrative exploration purposes, and no metallurgical testwork has been conducted.

BP Silver Corp. (BPAG) is a pre-resource explorer with a market capitalization of approximately C$54 million. As of 30 June 2026, the company held C$9.55 million in cash, reported no revenue, and recorded a net loss of approximately C$2.85 million for the nine-month period. The company has a fully diluted share count of approximately 85.3 million, compared to 67.1 million basic shares, representing a 27% overhang from warrants and options. This includes 11.9 million warrants struck at C$1.30, which are out of the money given the share price of C$0.81.

The company’s most significant prior result was the Jalsuri North discovery hole, CO-0015, published on 19 October 2026. This hole returned 142 meters grading 1.42% zinc and 8.9 grams per tonne silver (2.14% zinc-equivalent) from 5 meters. This interval included 59 meters grading 3.72% zinc-equivalent and 22 meters grading 5.18% zinc-equivalent, as well as 2.0 meters grading 249 grams per tonne silver (495.4 grams per tonne silver-equivalent). This result remains the strongest zinc-metreage result in the company’s history.

Recent drilling has established continuity along strike. The new best silver intercept on the property's newest target beats the anchor on grade-and-width, with 10 meters grading 239.65 grams per tonne silver-equivalent compared to the 2 meters grading 495.4 grams per tonne silver-equivalent from CO-0015. This represents better grade-width in absolute terms (2,396 vs 991 silver-equivalent meters) and five times the width. On zinc, the new hole CO-0019 returned 249% zinc-equivalent meters, modestly weaker than CO-0015’s 304% zinc-equivalent meters, but with a higher grade and similar length. Hole CO-0016 returned 183% zinc-equivalent meters, with its best core being 21 meters grading 3.45% zinc-equivalent. The holes step out northwest along strike and remain mineralized to the end of hole, indicating extension rather than a repeat of the discovery collar.

The stock closed at $0.91 on 19 October, $0.82 on the day of the anchor release, $0.78 by 22–23 October, and $0.77 on 26 October. The stock is approximately 39% below its 2 March 2026 close high of $1.32 and sits near the bottom of its June–October range. The market did not pay for the 142-meter polymetallic discovery hole; the stock sold off. The one genuinely embedded anchor on the chart is the February 2026 "bonanza" release, which returned 5 meters grading 600 grams per tonne silver and 1 meter grading 1,655 grams per tonne silver. That release took the stock from approximately $0.82 to $1.32, an expectation that has since been unwound by six months of drift. The stock has fallen from $1.19 in mid-August to $0.77 on 26 October.

BP Silver Corp. (TSXV: BPAG, OTCQB: BPSCF) is a pre-revenue Canadian junior explorer focused on silver-polymetallic projects in Bolivia. Its flagship asset is the Cosuño project in the Potosí department, comprising 3,375 hectares within a ~10.5 km² hydrothermal alteration system. The company holds a 52% interest via Emisur Minera S.A., with a scheduled path to 100% ownership requiring payments of US$150,000 due in 2026, US$350,000 due in 2028, and US$2.3M due in 2029. Additionally, a 2% NSR is purchasable for US$2.5M within five years of drilling start or US$5.0M thereafter. A second, earlier-stage asset, Titiri, covers 4,900 hectares and is 100%-owned, though title is still pending and the site has only historical trenching with no drilling.

Phase 1 drilling, consisting of 11 holes totaling 906 m, was completed in December 2025 and reported in February 2026. The program delivered the property's best-known silver hits at Pocañita Chica, including hole CO-0008 with 38 m @ 116.39 g/t Ag, including 5 m @ 600.4 g/t and 1 m @ 1,655 g/t, and hole CO-0009 with 58 m @ 46.23 g/t Ag. Phase 2, comprising 20–24 holes for approximately 2,000 m, began on 30 June 2026 to test Pocañita Chica extensions and the newly mapped Jalsuri cluster. A ~540 line-km drone magnetic survey is roughly 35% complete, an IP survey is under way, and a Phase 3 programme of ~6,000 m is contemplated.

According to the 30 June 2026 interim statements, the company held C$9.55M in cash, no debt, C$10.1M in working capital, and C$10.7M in total equity. The net loss for the nine months was C$2.85M, with an operating cash outflow of C$2.95M. The company raised C$10.02M in a March–April 2026 placement at C$1.00, accompanied by half-warrants at C$1.30. Management and insiders hold approximately 22% of the company. The Qualified Person is a director and not independent. The company pays for research coverage, including C$51,300 to Atrium Research over 18 months, and previously engaged Adelaide Capital for investor relations.