Mr. Jay Roberge reports

PANTERA SILVER ADVANCES RAKANCO PROJECT WITH DRONE MAGNETIC SURVEY NEAR CARANGAS SILVER DISCOVERY IN BOLIVIA

Pantera Silver Corp. has commenced a high-resolution drone magnetic survey at its Rakanco silver project located in the Mejillones and Sabaya provinces, Oruro department, in southwestern Bolivia. The survey forms part of Pantera's systematic exploration program aimed at integrating satellite spectral analysis, drone magnetics and a planned induced polarization survey to refine high-confidence drill targets ahead of the company's initial drilling campaign.

The Rakanco project is located adjacent to the recent Carangas silver discovery and the historic Todo Santos silver mine, reflecting the strong mineral endowment of the district. The project lies within a volcanic caldera-related geological setting, an environment known globally for hosting large epithermal silver and precious metal systems. Caldera complexes can generate extensive hydrothermal activity capable of producing broad zones of alteration and mineralization. Pantera's exploration strategy at Rakanco is focused on identifying structural corridors and alteration zones that may represent the surface expression of broader mineralized systems within this geological framework. While exploration at Rakanco remains at an early stage, the scale of alteration identified to date suggests the potential for additional mineralized systems within the project area.

"Our approach at Rakanco is to evaluate the district as a large-scale mineral system rather than a single-target exploration opportunity," said Jay Roberge, president and chief executive officer of Pantera Silver. "By combining satellite spectral analysis, drone magnetics and a planned induced polarization survey, we are developing a robust geological and geophysical framework to support well-defined drill targets. This disciplined approach is intended to maximize discovery potential while maintaining strong capital efficiency. We are grateful for the strong local support we have received and for the opportunity the Rakanco project represents."

Exploration program advancement

Pantera continues to advance a comprehensive predrill program designed to underpin target definition and improve the effectiveness of its initial drilling campaign. Current work includes the continuing integration of historical exploration data, surface mapping, sampling results and geophysical data sets to refine priority drill targets and enhance geological and structural interpretations.

The continuing drone magnetic survey, together with previously completed satellite spectral analysis and a planned induced polarization survey, will provide a multidata set framework designed to identify and prioritize zones with the highest discovery potential. In parallel, the company is developing a staged drilling strategy that allows for technical refinement as results are received while maintaining operational flexibility and cost discipline.

Operational preparation and stakeholder engagement

Alongside technical work, Pantera continues to advance operational planning and stakeholder engagement to support a smooth transition into drilling activities. Preparatory work includes access planning, logistical co-ordination and early engagement with drilling contractors, laboratories, and technical service providers to ensure efficient mobilization once drilling commences. The company also remains committed to maintaining strong working relationships with local communities and government authorities in Bolivia, emphasizing transparent communication and responsible exploration practices.

Investment environment

Pantera notes that recent political developments in Bolivia have resulted in the formation of a new federal administration that has publicly expressed support for responsible foreign investment and natural resource development. While the administration is early in its mandate, initial signals suggest a constructive approach toward investment and project development. The company views these developments as encouraging for the advancement of exploration projects in the country.

Portfolio optimization

Given the exploration potential emerging at the Rakanco project, Pantera has undertaken a strategic review of its project portfolio to ensure capital and technical resources remain focused on its highest-priority opportunities. As a result of this review, the company has elected not to allocate additional resources to the Nuevo Taxco project in Mexico and will relinquish the concession to the vendor. The property will be returned free of any further obligations or liabilities to Pantera. As predrill exploration activities in Bolivia advance and data analysis is completed, consideration will be given to expanding the current project boundaries and/or acquiring additional opportunities in Bolivia.

Qualified person and National Instrument 43-101 disclosure

Dr. Thomas A. Henricksen, CP Geo (California), a qualified person (as defined by NI 43-101 (Standards for Disclosure for Mineral Projects), a senior consulting geologist to the company, has reviewed and approved the technical disclosures in this news release. The company strictly adheres to Canadian Institute of Mining, Metallurgy and Petroleum Best Practices Guidelines in preparing for and conducting, documenting and reporting the exploration activities on its projects.

About Pantera Silver Corp.

Pantera Silver is a mineral exploration company focused on advancing high-potential mineral projects through disciplined exploration and experienced technical teams. The company seeks to create shareholder value by identifying and advancing quality mineral assets while maintaining strong partnerships with local communities and operating responsibly in the jurisdictions and environments in which it works.

We seek Safe Harbor.