Vancouver, British Columbia--(Newsfile Corp. - October 23, 2026) - TruSilver Metals Corp. (TSXV: TAG) (formerly Galaxy Ventures Inc.) (the "Company" or the "Resulting Issuer") is pleased to announce that it has completed its qualifying transaction (the "QT") with TruSilver Resources Corp. (formerly TruSilver Metals Corp.) ("TruSilver"), further to the news releases dated April 29, 2026, June 1, 2026, September 15, 2026, October 9, 2026 and October 15, 2026. The QT constitutes the Company's Qualifying Transaction under Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange (the "Exchange").

Full details of the Qualifying Transaction and related matters are set out in the filing statement of the Company dated October 15, 2026, which can be found under the Company's SEDAR+ profile at www.sedarplus.ca.

Highlights

• The QT closed on October 20, 2026. The Resulting Issuer now owns 100% of TruSilver and its Sturgis-Walton Silver Project in Hants County, Nova Scotia.

• The Company has changed its name from "Galaxy Ventures Inc." to "TruSilver Metals Corp." and consolidated its common shares on a 1-for-2.5 basis.

• 42,544,678 common shares of the Resulting Issuer are issued and outstanding.

• Subject to final Exchange acceptance, the Resulting Issuer's common shares are expected to begin trading on the Exchange under the symbol "TAG" on or about October 27, 2026, as a Tier 2 Mining Issuer.

• TruSilver's concurrent financing raised gross proceeds of $2,830,090, which will fund drilling at the Sturgis-Walton Silver Project and general working capital.

"Was Walton just the branch? Starting in November, we drill for the trunk," said Michael Gross, President and Chief Executive Officer. "Today TruSilver becomes a public company with a permitted target, a funded program and a team that has done this before. From here, the drill does the talking."

Listing and Trading

Trading in the Company's shares has been halted since April 28, 2026 and will remain halted until the Exchange issues its final bulletin. The Exchange will publish a bulletin confirming final acceptance of the QT and the date trading begins. The Company will issue a further news release when trading begins.

The new CUSIP number for the common shares of the Resulting Issuer is 89825B101 (ISIN CA89825B1013). Shareholders who hold their shares through a broker do not need to take any action.

Terms of the Qualifying Transaction

The QT was completed under the amalgamation agreement dated May 29, 2026, as amended August 26, 2026, September 25, 2026 and October 1, 2026, among the Company, its wholly owned subsidiary 1590566 B.C. Ltd. ("Subco") and TruSilver. Immediately before closing, the Company consolidated its common shares on the basis of one post-consolidation share for every 2.5 pre-consolidation shares and changed its name to "TruSilver Metals Corp." TruSilver and Subco then amalgamated, and the amalgamated company continues as a wholly owned subsidiary of the Company under the name "TruSilver Resources Corp."

On closing, the Company issued one post-consolidation common share for each of the 39,214,038 outstanding TruSilver common shares, including the 11,025,541 shares issued on conversion of the subscription receipts sold in TruSilver's concurrent financing. Outstanding TruSilver options and warrants are now exercisable for common shares of the Resulting Issuer on the same terms.

Capitalization of the Resulting Issuer

The Resulting Issuer has the following securities outstanding following closing:

Escrow and Resale Restrictions

• CPC escrow: 1,408,000 post-consolidation common shares and 200,000 options held by Galaxy's former Principals remain in escrow under Galaxy's CPC escrow agreement. 25% of the shares are released on the Exchange's final bulletin and 25% every six months thereafter; 100% of the options are released on the final bulletin.

• Value escrow: 18,323,327 common shares, 800,000 warrants and 2,375,000 options held by Principals of the Resulting Issuer have been deposited in escrow under an Exchange Form 5D Tier 2 escrow agreement dated October 20, 2026 with Endeavor Trust Corporation. 10% is released on the Exchange's final bulletin and 15% every six months thereafter over 36 months.

• Other resale restrictions: A further 11,050,611 common shares and 285,440 warrants are subject to contractual lock-ups of between four and 36 months.

Full escrow details are set out in the Company's filing statement dated October 15, 2026 (the "Filing Statement").

Board and Management

Effective on closing, the board of directors of the Resulting Issuer consists of Michael Gross, Peter Hancock, Matt Rees, William White and Penelope White. Michael Gross is President and Chief Executive Officer, and Yucai (Rick) Huang is Chief Financial Officer and Corporate Secretary. The audit committee consists of Peter Hancock, Michael Gross and Matt Rees.

The Resulting Issuer's board and management team brings experience at Glencore, Sherritt International, Sibanye-Stillwater, IAMGOLD, Noranda-Falconbridge and Fortune Bay, spanning mineral discovery, major-project development and public-company finance.

Michael Gross, MBBS, FRCS (Lond.), FRCSC, ICD.D - President, Chief Executive Officer and Director

Michael Gross is the President and Chief Executive Officer and a director of TruSilver. He is an experienced executive and corporate leader with over 20 years of business development experience. He brings seasoned capital markets and venture-stage board experience, including past lead director roles with Linear Gold Corp. and Brigus Gold Corp., and currently serves as a director of Fortune Bay Corp., providing experience across the full lifecycle of mineral projects from discovery through to buy-out. Mr. Gross has also been actively involved in the financing and development of both public and private companies. In addition to his mining experience, he is a medical entrepreneur and founder of InkWell Health (inkwellhealth.com), and has served as a director of Sona Nanotech Inc.

Peter Hancock, B.E., M.Sc., Ph.D. - Director

Director Peter Hancock, B.E., M.Sc., Ph.D., is President and CEO of Sherritt International and a director of Sibanye-Stillwater, and a mining executive with 30+ years of experience, primarily with Glencore plc. During his tenure at Glencore, he managed the Murrin Murrin nickel-cobalt mining operations in Western Australia and served as President of Koniambo Nickel SAS from 2011 to 2016, where he led the completion, commissioning, and ramp-up of the US$7-billion Koniambo Nickel Mine in New Caledonia - one of the largest greenfield nickel projects globally. Earlier in his career, he oversaw operations at the Brunswick Smelter and led Technology and Business Development for Noranda Zinc, contributing to significant advancements in mineral processing and operational efficiency.

Matt Rees, M.Sc., P.Geo. - Director

Mr. Rees has over 30 years of technical leadership experience, including more than 11 years with IAMGOLD Corporation, serving first as Manager, New Opportunities Exploration and later Chief Geologist. During his tenure, he was part of the IAMGOLD team responsible for discovering or acquiring approximately 29 million ounces of gold. Before joining IAMGOLD, Mr. Rees served as Vice-President, Exploration and Chief Geologist of Stockport Exploration, where he directed international exploration programs and contributed to significant discoveries at the Seymour Lake lithium project in Ontario and the Nyanza gold project in Kenya. He also led the drilling program that produced an NI 43-101 mineral-resource estimate for the KM61 molybdenum-copper-silver deposit. Previously, Mr. Rees spent 17 years with Noranda-Falconbridge exploring a variety of base and precious-metal deposit types globally.

William White - Director

William White has been a director of TruSilver since 2021. He has over 8 years of experience in capital markets, corporate finance, and business development. He is the Chief Executive Officer of WCG Cap Partners Corp., a family office focused on building a portfolio of growth companies, including in the resource sector. Mr. White has helped identify, finance, and develop numerous ventures and brings strong expertise in strategic planning, capital raising, and corporate governance. Mr. White's recent activities include co-founding Tiger Gold Corp., a gold exploration company.

Yucai (Rick) Huang, BA, MBA, CPA - Chief Financial Officer and Corporate Secretary

Rick Huang is a financial executive with over a decade of experience as CFO of publicly traded companies, including junior and mid-tier mining companies. He brings expertise in financial reporting, treasury, internal controls, regulatory compliance and board-level financial oversight, and has led or supported public equity financings totalling over $100 million, along with several go-public transactions. Mr. Huang served as CFO and Corporate Secretary of Tiger Gold Corp. from December 2024 to July 2026 and, for the past five years, has provided accounting services to Canadian public issuers through his firm, Prospen Management Services Inc.

Penelope White, BA, LLB - Director

Ms. White is a mining entrepreneur and capital markets executive with more than 25 years of experience in corporate transactions, financing and go-public strategies. She has co-founded multiple ventures, including Tiger Gold Corp., Highbury Energy Inc. and Merus Labs International Inc., which was subsequently acquired by Norgine B.V. in July 2017 at an enterprise value of approximately C$342 million, including assumed debt. Ms. White has been recognized as a PROFIT Magazine Top Canadian Entrepreneur and was a national finalist for the RBC Award for Excellence in Entrepreneurship.

The former directors and officers of Galaxy resigned on closing. The Company thanks them for their work in bringing the QT to completion.

Crowe MacKay LLP remains the auditor of the Resulting Issuer, and Endeavor Trust Corporation is its transfer agent and registrar. The Resulting Issuer has adopted a May 31 financial year end and will continue with Galaxy's existing stock option plan.

About TruSilver Metals Corp.

TruSilver Metals Corp. owns 100% of the Sturgis-Walton Silver Project in Nova Scotia, free of a net smelter return royalty (NSR), adjacent to the historic Walton Mine, where historical sources report mined ore head grades of 350-933 g/t silver (Ag).¹ Overlapping magnetic, gravity and audio-magnetotelluric anomalies define a priority exploration target that, together with historic drilling, downhole geophysics and 3D modelling, is guiding the Company's planned 2026/27 diamond drilling program of 3,500 metres across five holes to test for mineralization at depth. The initial drilling target has been defined and a drilling permit is in place. Drilling is expected to begin in November 2026. In late 2025, Rio Tinto Exploration Canada Inc. staked all open mineral claims in the Minas sub-basin, comprising 2,363 claims under 30 exploration licences, thereby surrounding the Sturgis-Walton Silver Project. Rio Tinto is not affiliated with TruSilver, and its activities are not indicative of mineralization on TruSilver's property.

TruSilver's team combines decades of exploration, mine-development and capital-markets experience, with current or former lead technical and board roles at IAMGOLD, Noranda-Falconbridge, Glencore, Sherritt International and Sibanye-Stillwater, as well as co-founding Tiger Gold. Team members contributed to the discovery or acquisition of over 31 million ounces of gold and led completion and initial ramp-up of a US$7 billion nickel project. The team brings strong knowledge of the Sturgis-Walton region, Nova Scotia's geology and regulatory environment, and deep expertise in applying modern exploration technologies, including artificial intelligence.

For more information, visit www.TruSilverMetals.com.

¹ Historical information, as summarized in the NI 43-101 technical report on the Sturgis-Walton Silver Project effective October 7, 2026, prepared by David Murray, P.Geo. (the "Technical Report"). Source: Nova Scotia Department of Natural Resources Mineral Inventory files (O'Reilly, 2007; Boyd and Cole, 1979). The silver grades are a range of historical head grades reported for ore mined at the Walton Mine, not a single verified average production grade. Neither the Technical Report's author nor TruSilver's Qualified Person has independently verified these historical production figures, and they should not be relied upon. The Walton Mine is not owned by TruSilver, and mineralization on adjacent properties is not necessarily indicative of mineralization on TruSilver's property.

Early Warning Disclosure for Michael Gross

Michael Gross acquired Resulting Issuer Shares on closing of the QT in exchange for his TruSilver common shares, on a one-for-one basis, under the amalgamation. As a result, he owns, or has control or direction over, more than 10% of the outstanding Resulting Issuer Shares on a partially diluted basis. Accordingly, Mr. Gross is providing the following disclosure under National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Immediately before closing of the QT, Mr. Gross did not own, or have control or direction over, any securities of the Company. Immediately after closing, Mr. Gross beneficially owns, or has control or direction over, 4,116,667 Resulting Issuer Shares and 400,000 warrants exercisable at $0.45 per share. These include 120,000 shares and 120,000 warrants held by Michael Gross Investments Limited and 200,000 shares and 200,000 warrants held by MMP Investments Ltd., both controlled by Mr. Gross. His shares are about 9.68% of the outstanding Resulting Issuer Shares on an undiluted basis. Assuming he exercises only his warrants, he would hold about 10.52% on a partially diluted basis. Mr. Gross also holds 1,200,000 stock options exercisable at $0.10 to $0.25 per share, of which 600,000 vest only on meeting performance conditions.

Mr. Gross acquired the securities for investment purposes. Depending on market conditions, a change in plans and other relevant factors, he may in the future acquire more securities of the Company, dispose of some or all of his securities, or continue to hold his current position, subject to applicable escrow restrictions. His securities are subject to the Exchange Form 5D Tier 2 escrow agreement dated October 20, 2026 with Endeavor Trust Corporation.

Mr. Gross will file an early warning report under NI 62-103 on SEDAR+ under the Company's profile.

Early Warning Disclosure for William White

William White acquired Resulting Issuer Shares on closing of the QT in exchange for his TruSilver common shares, on a one-for-one basis, under the amalgamation. As a result, he owns, or has control or direction over, more than 10% of the outstanding Resulting Issuer Shares. Accordingly, Mr. White is providing the following disclosure under National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Immediately before closing of the QT, Mr. White did not own, or have control or direction over, any securities of the Company. Immediately after closing, Mr. White beneficially owns, or has control or direction over, 5,552,000 Resulting Issuer Shares and 200,000 warrants exercisable at $0.45 per share. These include 2,294,000 shares and 80,000 warrants held by WCG Cap Partners Corp. and 1,132,000 shares held by Two Lions Communications Inc., both controlled by Mr. White. His shares are about 13.05% of the outstanding Resulting Issuer Shares on an undiluted basis. Assuming he exercises only his warrants, he would hold about 13.46% on a partially diluted basis. Mr. White also holds 100,000 stock options exercisable at $0.25 per share.

Mr. White acquired the securities for investment purposes. Depending on market conditions, a change in plans and other relevant factors, he may in the future acquire more securities of the Company, dispose of some or all of his securities, or continue to hold his current position, subject to applicable escrow restrictions. His securities are subject to the Exchange Form 5D Tier 2 escrow agreement dated October 20, 2026 with Endeavor Trust Corporation.

Mr. White will file an early warning report under NI 62-103 on SEDAR+ under the Company's profile.

Early Warning Disclosure for James Michaelis

James Michaelis acquired Resulting Issuer Shares on closing of the QT in exchange for his TruSilver common shares, on a one-for-one basis, under the amalgamation. As a result, he owns, or has control or direction over, more than 10% of the outstanding Resulting Issuer Shares. Accordingly, Mr. Michaelis is providing the following disclosure under National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Immediately before closing of the QT, Mr. Michaelis did not own, or have control or direction over, any securities of the Company. Immediately after closing, Mr. Michaelis beneficially owns, or has control or direction over, 5,100,000 Resulting Issuer Shares. These are about 11.99% of the outstanding Resulting Issuer Shares on an undiluted basis. Mr. Michaelis also holds 975,000 stock options exercisable at $0.10 to $0.25 per share, of which 375,000 vest only on meeting performance conditions.

Mr. Michaelis acquired the securities for investment purposes. Depending on market conditions, a change in plans and other relevant factors, he may in the future acquire more securities of the Company, dispose of some or all of his securities, or continue to hold his current position, subject to applicable escrow restrictions. His securities are subject to the Exchange Form 5D Tier 2 escrow agreement dated October 20, 2026 with Endeavor Trust Corporation.

Mr. Michaelis will file an early warning report under NI 62-103 on SEDAR+ under the Company's profile.

Qualified Person

Matt Rees, M.Sc., P.Geo., a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release. Mr. Rees is a director of the Company and is not independent.

The Filing Statement and the Technical Report are available under the Company's profile on SEDAR+ at www.sedarplus.ca.

ON BEHALF OF THE BOARD

"Michael Gross"

Michael Gross
President, Chief Executive Officer and Director
TruSilver Metals Corp.

Cautionary Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Completion of the QT remains subject to final acceptance by the Exchange. There can be no assurance that final acceptance will be received or that trading will begin on the anticipated date.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws, including statements about: final Exchange acceptance of the QT; the expected date trading begins and the trading symbol of the Resulting Issuer; the release of escrowed securities; the use of proceeds of the concurrent financing; and the timing and scope of TruSilver's planned drilling program.

Forward-looking information reflects management's current expectations and assumptions, including that final Exchange acceptance will be received on the anticipated timeline and that drilling will proceed as planned. Actual results may differ materially because of: delays in obtaining final Exchange acceptance; changes in market conditions; permitting, contractor or weather delays; exploration results that do not meet expectations; or other unforeseen events.

Readers should not place undue reliance on forward-looking information, which is provided as of the date of this news release. The Company undertakes no obligation to update it except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320549