Mr. Galen McNamara reports

SILVER47 LAUNCHES DRILLING ON THE EASTERN EXTENSION OF THE TONOPAH HIGH GRADE SILVER DISTRICT, HUGHES PROJECT, NEVADA

Drilling has commenced across the highly prospective eastern extension of the Tonopah mining district at Silver47 Exploration Corp.'s Hughes project near Tonopah, Nev.

Key highlights:

• Drilling under way: A core rig is on site and actively advancing an existing precollared hole toward the target horizons. A reverse circulation (RC) rig is expected to arrive shortly and will then drill a series of additional precollars, which the core rig will deepen with diamond tails through the target horizons.
• Aggressive 2026 campaign launched: Minimum 7,000 metres of combined RC and diamond drilling targeting the highly prospective eastern extension of Nevada's second-largest historic silver district (Tonopah), focusing on Ruby, Sapphire and Emerald targets 1.3 to four-plus kilometres east of the historic district edge.
• Building on high-grade success at Ruby: The drill program kicks off near standout prior intercepts, including 1,450 grams per tonne AgEq (silver equivalent) (8.41 grams per tonne Au (gold), 813 g/t Ag (silver)) over 3.0 m in SUM23-59; mineralization remains open with strong potential for a major high-grade system.
• Targeting the primary high-grade structure: Drilling will start with a fence of angled holes at the Ruby discovery designed to evaluate the primary high-grade mineralized structure. These drill holes will build on previous results including widespread and intense hydrothermal alteration seen in all holes to date.
• Fully financed for flexibility: The company holds approximately $54-million in working capital, providing a strong financial position to execute and potentially expand the program based on results.

Galen McNamara, chief executive officer, stated: "Two thousand twenty-six is shaping up to be a transformative year for the Hughes project. In addition to advancing our high-grade resource base, we are aggressively pursuing the main high-grade structure along the eastern extension of the historic Tonopah district -- one of Nevada's premier exploration targets. The Tonopah district historically produced 175 million ounces of silver and 1.86 million ounces of gold along a roughly four-kilometre trend. The potential to extend this prolific system an additional 4.2 kilometres on our ground represents a rare and exciting opportunity to revitalize and expand one of America's most legendary silver districts."

The drill program

The 2026 exploration drill program at the Hughes project, near Tonopah, Nev., has commenced and will comprise at least 7,000 metres of combined reverse circulation (RC) and diamond drilling (RC precollars with diamond tails). The program targets the Ruby, Sapphire and Emerald areas -- key prospects along the highly prospective eastern extension of the prolific Tonopah mining district (see the company's press release dated March 2, 2026).

• Ruby target: The Ruby target is centered on the Ruby vein system, located 1.3 kilometres east of the Belmont mine. The 2020 discovery hole, SUM20-10, intersected zones of strong, epithermal-related silver-gold mineralization (430 g/t silver equivalent (2.47 g/t Au and 243 g/t Ag) over two metres, see Summa Silver Corp.'s press release dated Dec. 17, 2020). Follow-up exploration drilling, targeting proximal geophysical anomalies to the east of the Ruby discovery, intersected similar styles of mineralization including 1,450 grams per tonne silver equivalent (8.41 g/t Au, 813 g/t Ag) over 3.0 m in SUM23-59 (see Summa's press release dated Aug. 2, 2023). These results, together with additional 2024 stepout holes (see the company's press release dated Oct. 15, 2025), demonstrate the potential scale, high prospectivity and complexity of the Ruby vein system. A series of at least four angled drill holes on 200 m stepouts are now designed to evaluate the extent and mineralization potential of the Ruby vein system.
• Sapphire target: The Sapphire target, located 2.9 km east of the Ruby discovery, was tested with one wildcat RC drill hole in 2023 (SUM23-62, see Summa's press release dated Aug. 2, 2023) which intersected 376 g/t silver equivalent (2.56 g/t Au and 175 g/t Ag) over 1.5 m. Mineralization is open in all directions. Up to three drill holes are now designed to investigate the extent and structural controls on this vein-hosted mineralization as well as test for parallel vein sets.
• Emerald target: The Emerald target, located 1.6 km north of the Ruby discovery was tested in 2023 with an east-dipping, wild-cat RC hole. The hole bottomed in 20 m of strongly quartz-pyrite altered volcaniclastic breccia interpreted to be the upper expression of a concealed epithermal system. Up to three drill holes are now designed to investigate the epithermal-related gold-silver mineralization potential of the breccia system at depth.

Qualified person

The technical and scientific content of this news release has been reviewed and approved by Galen McNamara, PGeo, the chief executive officer of the company and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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 at 334 g/t 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. The company trades on the TSX Venture Exchange under the ticker symbol AGA and OTCQX under the ticker symbol AAGAF.

We seek Safe Harbor.