Mr. J. Frank Callaghan, a shareholder, reports

EARLY WARNING NEWS RELEASE ISSUED REGARDING THE SECURITIES OF BLENDE SILVER CORP.

This news release is related to the common shares of Blende Silver Corp. J. Frank Callaghan announces that, during the period commencing on May 29, 2026, to and including June 3, 2026, he disposed of an aggregate 1,170,500 common shares of the issuer through the facilities of the TSX Venture Exchange at prices ranging from 25 cents to 28.5 cents per share for total gross sale proceeds of $316,156.15 (before deduction of commission). On June 3, 2026, Mr. Callaghan exercised share purchase warrants to acquire two million common shares of the issuer at a price of 10 cents per share for a total purchase price of $200,000.

Mr. Callaghan is a Canadian having an address at Suite 1100, 1111 Melville St., Vancouver, B.C., V6E 3V6. Prior to the aforementioned disposition and acquisition of the issuer's common shares, Mr. Callaghan owned 19,572,243 common shares, which then represented 23.08 per cent of the issuer's issued and outstanding common shares on a non-diluted basis and 22.29 per cent on a partially diluted basis. As a result of the disposition and acquisition of the issuer's common shares, Mr. Callaghan currently owns 20,401,743 common shares, which, as of June 3, 2026, represents 23.50 per cent of the issuer's issued and outstanding shares on a non-diluted basis and 23.24 per cent on a partially diluted basis. Mr. Callaghan also holds stock options to purchase one million common shares of the issuer at a price of 12 cents per share exercisable until March 9, 2031.

The requirement to file this report was triggered because, as of June 3, 2026, the number of common shares of the issuer acquired by Mr. Callaghan on exercise of his share purchase warrants is equal to 2.27 per cent of the issuer's issued and outstanding common shares on a partially diluted basis.

Mr. Callaghan presently holds common shares of the issuer for investment purposes. In the future, he may directly or indirectly acquire additional common shares or dispose of common shares subject to a number of factors, including general market and economic conditions and other investment and business opportunities available.

This press release is being issued as required by National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, and relates to the issuer, the head office of which is located at Suite 1100, 1111 Melville St., Vancouver, B.C., V6E 3V6.

A copy of the early warning report filed in connection with the matters set forth above may be obtained under the issuer's SEDAR+ profile and may also be obtained by contacting the issuer at 604-669-6463.