BP Silver closes $825,067 second tranche of placement

Executive Summary

• BP Silver Corp. has closed the second tranche of its non-brokered private placement, raising $825,067 in gross proceeds.
• Combined with the first tranche, aggregate gross proceeds now total $9,383,067, reflecting an upsizing of the offering from $8 million to $10 million due to strong investor demand.
• Net proceeds will be allocated to exploration activities at the Cosuno and Titiri projects in Bolivia, including geophysical surveys and a phase 2 drill program, alongside general working capital.

Key Details

• Second Tranche Proceeds: $825,067 gross
• Aggregate Proceeds (Tranche 1 + 2): $9,383,067 gross
• Offering Size: Upsized from $8 million to $10 million
• Units Issued (Tranche 2): 825,067 units at $1.00 per unit
• Warrant Terms: Each unit includes one-half of one common share purchase warrant; warrants are exercisable at $1.30 per share for a period of two years from issuance
• Use of Proceeds: Exploration at Cosuno silver project (geophysical surveys, phase 2 drill program), potential exploration at Titiri project, evaluation of other high-potential opportunities, and general working capital
• Statutory Hold Period: Four months and one day from the date of issuance
• Finders' Fees: $27,000 paid in connection with the second tranche, plus issuance of 27,000 non-transferable finder's warrants (exercisable at $1.30/share for two years)
• Future Tranches: Third and final tranche expected to close in due course, subject to customary closing conditions, regulatory approvals, and final acceptance by the TSX Venture Exchange
• Referenced Prior Releases: March 17, 2026, and March 27, 2026