Silicon Metals Corp. Announces Appointment of New Director

• April 9, 2026: Company appointed Mr. Aeron Kawakami to the Board of Directors and Audit Committee. Simultaneously issued 245,614 common shares to settle $35,000 in debt owed to directors at a deemed price of $0.1425 per share.
• April 1, 2026: Announced a 1-for-5 reverse stock split effective April 7, 2026. Reduced outstanding shares from ~53 million to ~10.6 million.
• March 26, 2026: Confirmed share consolidation details and announced resignation of Director Leighton Bocking.
• March 20, 2026: Appointed Ray Wladichuk as Chief Executive Officer, replacing Morgan Good.
• Historical Context (Late 2025): Completed acquisition of Crystal Hills Project ($85k cash + shares), raised ~$198k via flow-through private placement in December, and expanded land base at Crystal Hills by 300% in January.

• Debt Settlement: The issuance of shares to settle $35,000 in director debt is financially immaterial relative to the company's capital structure or operational needs. It does not materially affect liquidity but indicates a reliance on equity for minor obligations.
• Governance Changes: The appointment of a new director with financial expertise (Kawakami) and the CEO transition (Wladichuk replacing Good) are positive governance steps but do not constitute immediate operational catalysts or revenue drivers.
• Reverse Split: While intended to improve share price perception, the market reaction has been muted. The stock traded at $0.19 post-split effective date, significantly below the theoretical value of a 5-for-1 consolidation on prior prices (which would suggest ~$0.75+). This discrepancy highlights investor skepticism or liquidity issues.
• Financing: Recent financings ($200k range) are insufficient to fund significant exploration or development without further dilution, indicating ongoing capital constraints.

• Company: Silicon Metals Corp., focused on high-purity silica/quartzite projects in Canada (Ontario and British Columbia).
• Flagship Project: Maple-Birch Project (Sudbury, Ontario) is described as "production permitted." Crystal Hills (Ontario) was acquired in late 2025. Ptarmigan, Silica Ridge, and Longworth are exploration-stage projects in BC.
• Development Status: Exploration stage for most assets; Maple-Birch has mobilization activities ongoing but no production revenue disclosed yet.
• Technical Data: Preliminary volumetric estimates at Ptarmigan suggest ~13 million tonnes of surface quartzite with 98.49% SiO2 purity, though this is conceptual and not a NI 43-101 resource estimate.