Silver47 Set to Commence Fully Funded 10,000-Meter Drill Program at the Red Mountain Silver and Critical Minerals Project, Alaska

Executive Summary

• Silver47 Exploration announced a fully funded, 10,000-meter summer drill program across three rigs at its Red Mountain Project in Alaska.
• The campaign will focus on expanding the inferred resource at the Dry Creek deposit while systematically testing multiple high-priority, largely undrilled polymetallic massive sulfide targets across a 60 km prospective trend.
• Rig mobilization is underway with operations expected to commence imminently, marking the most comprehensive exploration campaign to date on the project.

Key Details

• Drilling Scope: 10,000 meters of core drilling across three rigs, with the first rig on site and all three expected operational by the end of the month.
• Dry Creek Expansion: Infill and step-out drilling down-dip (~3,000 m) to expand the inferred resource (11.6M tonnes at 279.4 g/t AgEq, totaling 104.0M AgEq oz) and investigate structural controls on high-grade zones (e.g., 22.3 m at 601 g/t AgEq in DC24-105).
• Hunter Target (5.8 km W of Dry Creek): ~500 m traced mineralization. Rock chip assays up to 616 g/t Ag, 18.6% Zn, 5.4% Pb, 2.5% Cu, 0.33 g/t Au. Historic intercepts include 1.4 m @ 17.4% Zn, 3.9% Pb, 1.6% Cu, 90 g/t Ag, 0.23 g/t Au and 1.8 m @ 13.8% Zn, 3.1% Pb, 56 g/t Ag, 0.2 g/t Au, 0.9% Cu.
• WTF East Target (5.0 km NE of Dry Creek): Evaluating faulted offset of West Tundra Flats (4.0M tonnes at 496.9 g/t AgEq, 64.6M AgEq oz). Testing a concealed, previously untested EM anomaly.
• Glacier Creek Suite (12.3 km NW of Dry Creek): Testing untested EM anomalies and multi-element soil/rock geochemical anomalies along 6 km of Totatlanika schists.
• FOMO Target (10 km W of Dry Creek): Evaluating semi-massive to massive sulfide discovered in 2025. Highlight assay: 1,792 g/t AgEq (74 g/t Ag, 2.54% Cu, 10.05% Pb, 23.20% Zn).
• Sheep Creek Target: ~200 m x 100 m massive sulfide footprint. Historical sampling up to 306 g/t Ag, 4.3% Zn, 3.98% Pb, 0.18% Cu. 2025 sampling returned 9 g/t Ag, 409 ppm Cu, 597 ppm Pb, 22.60% Zn and 8 g/t Ag, 0.14% Cu, 642 ppm Pb, 15.75% Zn.
• Additional Exploration: Project-wide geological mapping, grid-based soil geochemical surveys, and heli-borne hyperspectral surveying for target refinement.
• Resource Context: Combined Open Pit & Underground Inferred Resource stands at 168.6M AgEq oz at 336 g/t AgEq.
• Technical Assumptions: AgEq calculated using Zn $2,750/t, Pb $2,100/t, Cu $8,880/t, Au $1,850/oz, Ag $23/oz. Metallurgical recoveries: 90% Zn, 75% Pb, 70% Cu, 70% Ag, 80% Au.

Notable Quotes

• Galen McNamara, CEO: "Our upcoming drill program at Red Mountain represents a pivotal step as we aggressively advance our understanding of the size and scale of this silver-rich VMS system... By integrating historic datasets with last year's prospecting results, we have identified numerous massive sulfide occurrences along broad mineralized trends, pointing to the potential for a district-scale VMS system on the project."
• Gary Thompson, Executive Chairman: "This summer's program at Red Mountain represents the most comprehensive exploration campaign ever undertaken on the project. We are combining aggressive drilling with systematic exploration to unlock the scale potential of this highly prospective district."