Mr. Galen McNamara reports

SILVER47 ANNOUNCES UPSIZE OF BOUGHT DEAL PUBLIC OFFERING TO $30 MILLION

Due to strong investor demand, Silver47 Exploration Corp. has entered into an amending agreement with Research Capital Corp. as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 28,572,000 units of the company at a price of $1.05 per unit for aggregate gross proceeds to the company of $30,000,600.

Each unit shall comprise one common share of the company and one-half of one common share purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of $1.40 per common share for a period of 36 months following closing of the offering.

The net proceeds from the offering of the units will be used to accelerate and expand planned drill programs on the company's silver projects, and for working capital and general corporate purposes.

The company has granted to the underwriters an option to increase the size of the offering by up to an additional number of units, and/or the components thereof, that in aggregate would be equal to 15 per cent of the total number of units to be issued under the offering, to cover overallotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the offering. If the overallotment option were exercised in full, the gross proceeds to the company will be $34,500,690.

The closing of the offering is expected to occur on or about the week of Jan. 12, 2026, or such other earlier or later date as the underwriters may determine. Closing is subject to the company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange to list, on the date of closing, the common shares, and the common shares issuable upon exercise of the warrants and the underwriters' broker warrants, on the exchange.

In connection with the offering, the company intends to file a prospectus supplement within one business day to the company's short form base shelf prospectus dated Nov. 26, 2025, with the securities regulatory authorities in each of the provinces and territories of Canada (except Quebec). The shelf prospectus and the prospectus supplement will contain, important detailed information about the company and the offering. Prospective investors should read the prospectus supplement and accompanying shelf prospectus and the other documents the company has filed on SEDAR+ before making an investment decision.

Eventus Capital Corp. is a special adviser to the company.

About Silver47 Exploration Corp.

Silver47 Exploration is a mineral exploration company, focused on uncovering and developing silver-rich deposits in North America. The company is creating a leading high-grade United States-focused silver developer with a combined resource totalling 236 Moz (million ounces) AgEq (silver equivalent) at 334 g/t (grams per tonne) AgEq inferred and 10 Moz at 333 g/t AgEq indicated. With operations in Alaska, Nevada and New Mexico, Silver47 Exploration is anchored in America's most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions and technical reports, please refer to the National Instrument 43-101 technical report and other filings available on SEDAR+. The company trades on the TSX Venture Exchange under the ticker symbol AGA and OTCQX under the ticker symbol AAGAF.

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