CAPITAN SILVER FILES AMENDED AND RESTATED OFFERING DOCUMENT

Executive Summary

• Capitan Silver Corp. has filed an Amended and Restated Offering Document to expand the geographic scope of its previously announced $20 million bought deal private placement, allowing shares to be sold to purchasers in Québec in addition to other Canadian provinces.
• The offering consists of 9,855,000 common shares priced at C$2.03 per share, generating aggregate gross proceeds of C$20,005,650.
• The terms of the offering remain unchanged from the initial announcement; the filing primarily addresses regulatory exemptions under National Instrument 45-106 to facilitate the sale to Québec residents.

Key Details

• Transaction Type: Bought Deal Private Placement.
• Securities Issued: 9,855,000 common shares.
• Price Per Share: C$2.03.
• Gross Proceeds: C$20,005,650.
• Regulatory Update: The Amended and Restated Offering Document utilizes the listed issuer financing exemption under Part 5A of National Instrument 45-106 (as amended by Coordinated Blanket Order 45-935) to permit sales to purchasers resident in Québec.
• Previous Announcement: This filing follows the news release dated Dec. 8, 2025, titled "Capitan Silver Announces $20 Million Bought Deal Financing."
• Availability: The Amended and Restated Offering Document is available on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.capitansilver.com).

Notable Quotes

• "Alberto Orozco, CEO" (Signed on behalf of Capitan Silver Corp.)