ExGen enters LOI for second silver stream on gold mine

Mr. Jason Riley reports EXGEN SIGNS ANOTHER BINDING LOI TO ACQUIRE A SECOND SILVER STREAM ON PAST-PRODUCING GOLD MINE ExGen Resources Inc. has entered into a binding letter of intent dated Dec. 19, 2025, with an arm's-length private company to acquire a second silver stream on a past-producing gold mine located in South America. This silver stream 2 is in addition to the first silver stream that ExGen acquired on the property as announced in its prior news release on Dec. 17, 2025. ExGen's first silver stream is substantially similar to this silver stream 2 and doubles ExGen's aggregate silver stream on the property. Under the terms of the LOI, ExGen paid $500,000 (U.S.) in consideration for the acquisition of a 33.3-per-cent silver stream on the first 333,333 ounces of silver produced from the property and a further 16.7-per-cent silver stream on any additional silver produced from the property. Jason Riley, chief executive officer of ExGen, commented, "With two silver streams now secured, we are building a formidable foundation of potential future cash flow, strategically positioning ExGen to capitalize on silver price momentum and drive long-term value." The property The property is currently owned by a group of private individuals. PrivateCo is seeking to purchase the property through an option with the vendors. Terms of the LOI Subject to the terms and conditions of the LOI, certain terms of the transaction are as follows: ExGen made a cash payment of $500,000 (U.S.). ExGen will pay to PrivateCo a delivery price for the silver delivered pursuant to silver stream 2 equal to 20 per cent of the spot silver price, as determined by a major exchange, which exchange will be determined by the parties, acting reasonably. Pursuant to the binding LOI, PrivateCo is required to deliver a minimum of 4,200 ounces of silver to ExGen each calendar quarter beginning with the second quarter of 2027. If the quarterly minimum is not met, the vendor will make up any shortfall to ExGen with an equivalent value of gold. ExGen will have preferential rights to participate in any future streaming or royalty transactions by PrivateCo on the property. The parties may enter into a definitive streaming agreement containing terms and conditions as set out in the LOI and any other terms and conditions as are customary for transactions of a similar nature. Cautionary statements There can be no assurance that the proposed transaction will be completed as proposed or at all. In particular, there is no guarantee that PrivateCo and the vendors will execute the option, that the option will be exercised by PrivateCo, that a mine on the property will be put into production, or that production from any such mine will be sufficient to satisfy the requirements of the quarterly minimum, the LOI and silver stream 2. About ExGen Resources Inc. ExGen is a project accelerator that seeks to finance exploration and development of its projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has nine projects in Canada and the United States, four net smelter return royalties on projects in the Golden Triangle, B.C., Canada, and two silver streams in South America. We seek Safe Harbor.