Mr. Joaquin Marias reports

ARGENTA SILVER ANNOUNCES CLOSING OF BOUGHT DEAL LIFE PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$23 MILLION

Argenta Silver Corp. has closed its previously announced bought deal private placement for gross proceeds of $23-million, which includes the exercise in full of the overallotment option. Pursuant to the offering, the company sold 28.75 million common shares of the company at a price of 80 cents per offered share. Red Cloud Securities Inc., as lead underwriter and sole bookrunner, together with Raymond James Ltd., acted as underwriters under the offering.

In accordance with National Instrument 45-106, Prospectus Exemptions, the offered shares were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The offered shares sold to purchasers resident in Canada are immediately freely tradeable in accordance with applicable Canadian securities legislation.

As consideration for their services, the underwriters received aggregate cash fees of $1.38-million and 1,725,000 non-transferable common share purchase warrants. Each broker warrant is exercisable into one common share of the company at the offering price at any time on or before Jan. 22, 2028.

There is an amended and restated offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website.

The closing of the offering remains subject to the final approval of the TSX Venture Exchange.

Early warning

Frank Giustra

As reported in the last early warning report filed on Aug. 14, 2025, Mr. Giustra had indirect ownership and/or control over an aggregate of 27.49 million common shares of the company and 3.65 million common share purchase warrants of the company, representing 11.34 per cent of the outstanding common shares of the company and 12.66 per cent on a partially diluted basis, assuming the exercise of 3.65 million common share purchase warrants.

After the issuance of the offered shares pursuant to the offering, Mr. Giustra's shareholding in the company now represents 9.89 per cent of the outstanding common shares of the company and 9.96 per cent on a partially diluted basis, assuming the exercise of 225,000 common share purchase warrants.

As a result of dilution due to the offered shares issued pursuant to the offering, Mr. Giustra is no longer deemed a 10-per-cent holder and will not be required to complete any further early warning filings. Mr. Giustra has filed a report on SEDAR+ pursuant to National Instrument 62-103 (Early Warning Report) as required to terminate his filing requirements.

A copy of the early warning report filed by Mr. Giustra may be obtained from the company's SEDAR+ profile.

Eduardo Elsztain

As reported in the last early warning report filed on Aug. 14, 2025, Mr. Elsztain had indirect ownership and/or control over an aggregate of 31.25 million common shares of the company and 8,325,000 common share purchase warrants of the company, representing 12.57 per cent of the outstanding common shares of the company and 15.40 per cent on a partially diluted basis, assuming the exercise of 8,325,000 common share purchase warrants.

As a result of dilution due to the offered shares issued pursuant to the offering, Mr. Elsztain's shareholding in the company now represents 9.74 per cent of the outstanding common shares of the company and 12.27 per cent on a partially diluted basis, assuming the exercise of 8,325,000 common share purchase warrants.

A copy of the early warning report filed by Mr. Elsztain may be obtained from the company's SEDAR+ profile.

About the El Quevar project

The El Quevar project is located in Salta, Argentina, and spans an area of 57,000 hectares. The property remains underexplored with less than 3 per cent of the area covered with comprehensive exploration work. The property boasts exceptional infrastructure with over 60 kilometres of internal roads, a fully owned, fully operational camp for 100 workers with multiple support buildings, and a railroad, gas pipeline and service road just three kilometres from camp, while a high-voltage transmission line lies approximately 20 kilometres from the exploration area. The robust infrastructure associated with the project provides a cost-effective platform to derisk and accelerate future drilling and development.

The foundational mineral resource estimate of the Yaxtche deposit boasts an indicated mineral resource of 45.3 million ounces of silver from 2.93 million tonnes grading 482 grams per tonne (g/t) silver (Ag) and an inferred resource of 4.1 million ounces from 310,000 tonnes grading 417 g/t Ag (1). The mineral resource area remains open at depth and in multiple directions, particularly to the southeast and northwest.

The mineralization at the Yaxtche deposit is defined as a silver-rich, high-to-intermediate-sulphidation epithermal system with associated gold. Mineralization is controlled by northwest-southeast and northeast-southwest fault structures and is mainly hosted in brecciated zones and dacite domes. Silver minerals at Yaxtche consist of complex silver sulphides, sulphosalts and native silver. These minerals are found within silicified breccias, commonly appearing as veinlets, stockworks, disseminations and breccia fillings.

Rob van Egmond, PGeo, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. van Egmond has visited the El Quevar project and is not independent of the company.

(1) Refer to the National Instrument 43-101 technical report with effective date of Sept. 30, 2024, titled "NI 43-101 Technical Report on the Mineral Resource Estimate of the El Quevar Project Salta Province, Argentina," posted on SEDAR+ under Argenta Silver.

About Argenta Silver Corp.

Argenta Silver is a silver exploration company focused on advancing projects that support the global energy transition. The company's mission is to create sustainable, long-term value for shareholders by acquiring and developing high-potential silver assets in mining-friendly jurisdictions across Latin America. Led by an experienced management team with deep expertise in exploration, finance and project development, Argenta emphasizes responsible mining practices and is well positioned to meet the rising demand for silver, a critical metal in renewable energy and emerging technologies.

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