Silicon Metals obtains five-year permit at Ptarmigan

Mr. Morgan Good reports SILICON METALS CORP. ANNOUNCES VARIOUS CORPORATE AND OPERATIONAL UPDATES Silicon Metals Corp. has provided various corporate and operational updates. The Maple Birch project -- permitted for production of up to 3,000 tonnes per year As announced on Aug. 12, 2025, and further to its news release dated July 15, 2025, Silicon made the final cash payment of $25,000 (for an aggregate payment to date of $50,000 cash plus 500,000 common shares) to Geotek Exploration and Prospecting Ltd. (the optionor), pursuant to the company's recently announced option to purchase an undivided 100-per-cent right, title and interest in aggregate production permit AP6453 located in the world-class Sudbury mining district of Ontario, Canada. The balance remaining of the payments to be made under the option are as follows: On or before 12 months following the Canadian Securities Exchange approval date, issue the optionor 1.5 million common shares; On or before 18 months following the CSE approval date, issue the optionor 1.5 million common shares. All securities issued in connection with the option will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102 -- Resale of Securities. The Silicon technical team has recently completed a reconnaissance program at Maple Birch in preparation for a 2025 Q4 work program, which is anticipated to be the beginning of extraction, hauling, processing and delivery of high-purity pegmatite quartz. The work performed during the reconnaissance program included an assessment of the existing access roads in preparation for a rehabilitation and access plan, a tour from a potential contract mining company, and a 200-kilogram sample of ore was collected for advanced testing. Silicon is thrilled to have the necessary funds in hand to execute the extraction of the first 3,000 tonnes as per its production permit, and is optimistic this will result in pathway to a non-dilutive way of adding capital to the company as early as 2026. More details of the metrics and framework around this program will be announced as they become available. Additionally, the company is planning other exploration work on the approximately 2,000-hectare property with the goal of identifying additional zones of high purity quartz mineralization. The Ptarmigan silica project Silicon is also very pleased to announce that it has received a five-year Mines Act Permit and Free Use Permit from the B.C. Ministry of Mining and Critical Minerals, authorizing the company to conduct its proposed exploration activities at its 100-per-cent-owned Ptarmigan silica project, located approximately 130 kilometres southeast of Prince George, B.C. The permits, which are effective from July 31, 2025, to Dec. 30, 2030, provide Silicon Metals with the necessary approvals to carry out a wide range of exploration activities, including surface drilling, trenching, bulk sampling of up to 2,000 tonnes, and construction of exploration access trails and infrastructure. These permits mark a major milestone for the company as it aims to unlock the high-purity silica potential of the Ptarmigan silica project. Obtaining this permit is a crucial piece of the company's British Columbia project portfolio. Work to date includes property wide sampling (2024) which resulted in numerous samples returning 99.9-per-cent purity (detailed in Silicon's news release dated June 4, 2025), a high-definition LiDAR (light detection and ranging) and ortho-imagery survey (detailed in Silicon's news release dated July 14, 2025), collection of bulk sample for metallurgical testing (June, 2025, continuing), structural mapping, ground truth and sampling (completed Aug. 6, 2025), and preliminary 3-D modelling (continuing). Morgan Good, Silicon's chief executive officer and director, commented: "We are pleased to be updating our audience with the last few months of efforts as they constitute a couple of major milestones for Silicon. Not only do we have a funded plan for work at our Sudbury, Ontario-based, Maple Birch project that is permitted to produce up to 3,000 tonnes per year, but we also received our five-year Mines Act Permit and Free Use Permit including drilling for the British Columbia-based Ptarmigan silica project. One provides the company with near-term potential cash flow anticipated in 2026, and the latter allows us to fine tune our phase 1 drill program planning for Ptarmigan in or around Q2 2026, which increases exploration potential for size and grade." Shares for debt issuances Silicon also announces that it has agreed to issue an aggregate of 923,075 common shares to settle debt of $60,000 to certain consultants and directors of the company at a deemed price of 6.5 cents, for amounts owed by the company for unpaid services. Accordingly, the portion of the debt settlement with the directors constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The issuance of the shares to the directors is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b) as the company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) as the value of the shares being issued under the debt settlement does not exceed 25 per cent of the company's market capitalization. All securities issued in connection with the debt settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102 -- Resale of Securities. Technical information Raymond Wladichuk, PGeo, chief operating officer of Silicon Metals, a qualified person as per National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific information in his new release. Mr. Wladichuk is a professional geoscientist registered in British Columbia and Ontario. About Silicon Metals Corp. Silicon Metals is currently focused on exploration and development in Canada, namely British Columbia and Ontario. The company's Maple Birch project, located approximately 30 kilometres southeast of Sudbury, Ont., is a high-purity quartz pegmatite project with a 3,000-tonne-per-year production permit. The company also holds an undivided 100-per-cent right, title and interest in the exploration stage, and now fully five-year permitted Ptarmigan silica project, located approximately 130 km from Prince George, B.C. The company has also acquired an undivided 100-per-cent right, title and interest in both the exploration stage Silica Ridge silica project located approximately 70 km southeast from the town of MacKenzie, British Columbia, as well as the exploration stage Longworth silica project located approximately 85 km east from Prince George, B.C. We seek Safe Harbor.