Mr. Darwin Green reports

MACKAY GOLD & SILVER CORP. TO COMMENCE TRADING APRIL 24TH FOLLOWING TSX VENTURE EXCHANGE FINAL APPROVAL

Mackay Gold & Silver Corp. (formerly Drummond Ventures Corp.) has received the final approval of the TSX Venture Exchange in respect of the company's business combination with Toro Silver Corp. that completed on April 17, 2026. As indicated in the bulleted issued by the exchange, the company will recommence trading of its common shares on the exchange as a Tier 2 mining issuer at the opening on Friday, April 24, 2026, under the new trading symbol MACK.

"This is a significant milestone for Mackay as we complete our transition to a publicly traded company and begin trading under our new name and symbol, MACK," stated Darwin Green, chief executive officer. "We named our company in honor of John Mackay, the self-made mining legend who helped turn the Comstock Lode into one of the most storied gold and silver districts in North American history, and whose legacy is woven into the very ground we are exploring today. With a strong balance sheet and a focused exploration strategy, we are well positioned to write the next chapter in that history and deliver meaningful value for shareholders."

About Mackay Gold & Silver Corp.

Mackay is a new gold-silver focused exploration company advancing a large, recently consolidated land package in the Comstock district, Nevada, one of America's richest and most storied historic gold-silver mining districts.

• $62-million (U.S.) in cash and a strong shareholder roster including multiple leading gold funds;
• Highly accomplished management team, independent board of directors, and advisory team with deep Nevada experience and proven records of success;
• First-ever district-scale exploration platform in the Comstock; consolidation of a highly fragmented 150-plus-year-old mining district has unlocked its modern exploration potential and enabled a systematic, district-scale approach for the first time;
• Clear mandate to be the leading Nevada gold and silver exploration company, creating substantial value for shareholders while maintaining a high standard for environmentally and socially responsible exploration.

Background on the qualifying transaction

Under the transaction, the company acquired all of the issued and outstanding securities of Toro by way of a three-cornered amalgamation in accordance with the terms and conditions of the amalgamation agreement dated Dec. 30, 2025, as amended, between the company, Toro and 1230507 B.C. Ltd. The transaction constituted the company's qualifying transaction, as such term is defined in Policy 2.4 -- Capital Pool Companies of the exchange. Immediately prior to the completion of the transaction, the company changed its name to Mackay Gold & Silver Corp. and consolidated its common shares on the basis of three preconsolidation common shares for each one postconsolidation common share.

On April 1, 2026, the company and Toro completed a non-brokered private placement of 43,056,756 subscription receipts at a purchase price of $1.40 (U.S.) per subscription receipts raising aggregate gross proceeds of $60,279,458 (U.S.). The concurrent financing consisted in the issuance of 41,253,756 subscription receipts of Toro and 1,803,000 subscription receipts of the company at the same issue price. Each Toro subscription receipt was converted into one common share of Toro, and immediately exchanged for one Mackay share on completion of the transaction. Each Drummond subscription receipt was converted into one Mackay share on completion of the transaction. The gross proceeds of the concurrent financing less certain deductions were released from escrow to the company concurrently with the completion of the transaction. The company intends to use the proceeds of the concurrent financing toward mineral exploration expenditures on the company's Comstock mining property in Nevada, exploration salaries and consulting fees, mineral property holding costs, and for general working capital purposes.

The company filed a filing statement dated April 15, 2026, on SEDAR+ under its profile relating to the transaction. Investors are encouraged to review the filing statement, which provides detailed information about the transaction and the company.

About Mackay Gold & Silver Corp.

Mackay Gold & Silver is a Nevada-focused gold and silver exploration company with 100-per-cent control of a large, consolidated land package in one of America's richest, productive and oldest mining districts. With an estimated 8.2 million ounces of historical gold production and 192 million ounces of silver produced between 1859 and 1926 from bonanza-grade deposits, the Comstock district is recognized as one of America's highest-grade epithermal systems and an attractive setting for modern discovery. Led by an experienced team with a strong record of discovery, development and value creation, Mackay is well financed and committed to delivering shareholder value through disciplined exploration and responsible resource development.

We seek Safe Harbor.