BP Silver closes $825,067 second tranche of placement

Mr. Tim Shearcroft reports BP SILVER CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT BP Silver Corp. has closed the second tranche of its previously announced non-brokered private placement, raising gross proceeds of $825,067. Together with the first tranche of $8,558,000, the company has raised aggregate gross proceeds of $9,383,067 under the offering, which was upsized from $8-million to $10-million due to strong investor demand. Refer to the news releases dated March 17, 2026, and March 27, 2026, for more information. Pursuant to the second tranche, the company issued 825,067 units at a price of $1 per unit for gross proceeds of $825,067. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of $1.30 per warrant share for a period of two years from the date of issuance. BP Silver intends to use the net proceeds of the offering for exploration activities at the company's Cosuno silver project in Bolivia, including geophysical surveys and a phase 2 drill program, as well as potential exploration at its Titiri project. The proceeds will also support the evaluation of other high-potential opportunities and be used for general working capital purposes. All securities issued pursuant to the offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws. The offering remains subject to final acceptance of the TSX Venture Exchange. In connection with the second tranche, the company paid finders' fees of $27,000 and issued 27,000 non-transferable finder's warrants to eligible parties, where applicable, in accordance with applicable securities laws and exchange policies. Each finder's warrant is exercisable at $1.30 per share for a period of two years from the date of issue. Finders' fees may also be payable in connection with future tranches of the offering. The company expects to complete a third and final tranche of the offering for the remaining amount in due course, subject to customary closing conditions and regulatory approvals. About BP Silver Corp. BP Silver is a Canadian exploration company focused on advancing high-grade silver projects in Bolivia. The company's flagship asset, the Cosuno project, is strategically located in the prolific Bolivian silver belt, a region with a rich mining history and significant untapped discovery potential. With a strong technical team and a disciplined exploration strategy, BP Silver is positioned to unlock value for its shareholders through the discovery and development of major silver deposits. We seek Safe Harbor.