BP Silver starts drilling at Cosuno project

Mr. Tim Shearcroft reports BP SILVER COMMENCES DRILLING AT COSUNO SILVER PROJECT AND ANNOUNCES ONE-YEAR EXTENSION ON PROPERTY PAYMENT BP Silver Corp.'s drilling has commenced at the Cosuno silver project, located in the department of Potosi, Bolivia. In connection with the start of drilling, the company has also entered into a memorandum of understanding (MOU) dated Nov. 5, 2025, with the vendor of the Cosuno project to extend the timeline for certain final payment obligations under the existing share purchase agreement. "We are thrilled to commence the long-awaited phase 1 drilling program at Cosuno," stated Tim Shearcroft, chief executive officer of BP Silver. "This milestone has been several years in the making as we worked diligently to build the company to this stage. I am currently on site and will remain here throughout the duration of this very important drill program. We look forward to advancing Cosuno and unlocking the project's significant potential." Cosuno drill program The structurally controlled outcropping silver-rich polymetallic targets are defined by the presence of intermediate to advanced argillic alteration and anomalous to highly anomalous geochemical signatures such as are noted at other large Bolivian silver systems. Four targets within the approximately 10.5-square-kilometre hydrothermal system will be tested by the initial diamond drill program. Please refer to the company's Oct. 21, 2025, news release for more information. MOU BP Silver currently holds a 52-per-cent interest in Emisur Minera S.A., the company holding title to the Cosuno project. Under the original share purchase agreement, BP Silver via its subsidiary was required to make the following payments to acquire the remaining 48-per-cent interest in Emisur: $100,000 (U.S.) due Sept. 29, 2025 (paid); $150,000 (U.S.) due Sept. 29, 2026; $2.15-million (U.S.) due on or before Sept. 29, 2028. Pursuant to the newly executed MOU, the payment schedule has been amended as follows: $150,000 (U.S.) due Sept. 30, 2026; $350,000 (U.S.) due Sept. 30, 2028; $2.3-million (U.S.) due on or before Sept. 29, 2029. In addition, BP Silver has agreed to issue 750,000 common share purchase warrants to the vendor, exercisable at a price of 42 cents per share for a period of two years from the date of issuance. The company has also reached an agreement with a creditor to settle $37,500 of outstanding debt through the issuance of 89,285 common shares at a price of 42 cents per share. The shares issued pursuant to this debt settlement will be subject to a statutory four-month period from the date of issuance. The creditor is considered a non-arm's-length party to the company. The revised payment terms, warrant issuance and share for debt transaction are all subject to approval by the TSX Venture Exchange. Qualified person The technical information contained in this news release has been reviewed and approved by Dr. Stewart D. Redwood, PhD, FIMMM, a director of the company and a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects 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.