Mr. Giordy Belfiore reports

SILVER47 ANNOUNCES MAILING OF MEETING MATERIALS FOR SPECIAL MEETING OF SHAREHOLDERS

Silver47 Exploration Corp.'s notice of special meeting of shareholders, management information circular and related meeting materials (collectively, the meeting materials) have been mailed to shareholders in connection with the special meeting of Silver47 shareholders to be held on Tuesday, Oct. 27, 2026.

At the meeting, shareholders will be asked to consider and, if deemed advisable, approve a special resolution authorizing the previously announced plan of arrangement involving Silver47 and Bunker Hill Mining Corp., pursuant to which Bunker Hill will acquire all of the issued and outstanding common shares of Silver47. Under the terms of the transaction, Silver47 shareholders will receive 0.1724 share of common stock of Bunker Hill for each Silver47 common share held immediately prior to closing.

The board of directors of Silver47 unanimously recommends that shareholders vote for the arrangement resolution. Shareholders are encouraged to read the meeting materials in their entirety and vote as soon as possible.

Availability of meeting materials

The meeting materials are available under Silver47's profile on SEDAR+ and on the company's website. Shareholders are urged to review the meeting materials carefully as they contain important information regarding the transaction, the background to and reasons for the transaction, the fairness opinion received by the Silver47 board, voting procedures, dissent rights, tax considerations, and other matters relevant to the meeting.

Reasons to vote for the arrangement resolution:

• Attractive premium: Based on Bunker Hill's closing price on the Toronto Stock Exchange on Aug. 20, 2026, the exchange ratio implied consideration of approximately 93 cents per Silver47 share, representing a premium of approximately 38 per cent to Silver47's closing price on the TSX Venture Exchange and approximately 30 per cent to its 20-day volume-weighted average price.
• Participation in a larger U.S.-focused silver and critical minerals company: The transaction combines the operational Bunker Hill mine in Idaho with Silver47's silver-focused exploration and development portfolio in Alaska, Nevada and New Mexico.
• Enhanced scale and market profile: The combined company is expected to benefit from greater scale, increased trading liquidity, a broadened shareholder base and the potential for increased institutional ownership and market recognition.
• Financing for growth: Bunker Hill's anticipated operating cash flow, together with the combined company's pro forma financial position, is expected to support exploration and development across the portfolio.
• Unanimous board support and fairness opinion: The Silver47 board unanimously determined that the transaction is in the best interests of Silver47 and recommends that shareholders vote for the arrangement resolution. Research Capital Corp. provided a fairness opinion to the Silver47 board.

How to vote

Shareholders should locate the form of proxy or voting instruction form included with their meeting materials and follow the instructions provided. The control number on the form is required to vote on-line or by telephone, where those methods are available. Shareholders who have already voted do not need to take any further action unless they wish to change their vote.

Questions and voting assistance

Silver47 has retained Laurel Hill Advisory Group as its proxy solicitation agent. Shareholders who have questions about the transaction or require assistance voting their shares may contact Laurel Hill:

• North American toll-free: 1-877-452-7184;
• Outside North America: 1-416-304-0211;
• Text: INFO to either number;
• E-mail: assistance@laurelhill.com.

About Silver47 Exploration Corp

Silver47 Exploration is a mineral exploration company focused on uncovering and developing silver-rich deposits in North America. Silver47 is creating a leading high-grade U.S.-focused silver developer with a combined resource totalling 236 million ounces silver equivalent at 334 grams per tonne AgEq inferred and 10 million ounces AgEq at 333 g/t AgEq indicated. With operations in Alaska, Nevada and New Mexico, Silver47 is anchored in some of 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 reports and other filings available on SEDAR+. Silver47 trades on the TSX-V under the ticker symbol AGA and on the OTCQX under the ticker symbol AAGAF.

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