Mr. Jed Richardson reports

SAFI SILVER RECEIVES THIRD QUARTERLY PAYMENT OF US $3 MILLION FROM HORIZON UNDER KOMBAT MINE TRANSACTION

Safi Silver Corp. has received the third scheduled quarterly payment of $3-million (U.S.) from Horizon Corporation Ltd. pursuant to the previously announced sale of the company's interest in the Kombat mine in Namibia (please see the company's press release dated Dec. 23, 2025, for further details regarding the transaction).

The transaction is expected to provide Safi with a predictable source of non-dilutive capital while preserving meaningful long-term upside through the retained royalty and contingent consideration associated with the Kombat mine.

"Receiving this third payment further strengthens Safi's financial position," commented Jed Richardson, president and chief executive officer of Safi Silver. "The proceeds allow us to continue advancing our strategy without shareholder dilution while maintaining exposure to the future success of Kombat. As we continue to execute our exploration plans in Morocco, we believe Safi is well positioned to create long-term value for shareholders."

The Horizon transaction remains a consistent source of financing as the company's exploration activities continue to advance at its flagship Addana silver project in Morocco. Safi Silver is currently drilling two targets simultaneously: Addana Southwest and Antenna Hill (see press release issued Oct. 16, 2026).

The company will continue to provide updates as additional Horizon payments are received and exploration milestones are achieved at Addana.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Dr. Andreas Rompel (PrSciNat, FSAIMM), chief exploration officer of Safi Silver, who is a qualified person as defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Dr. Rompel is not considered independent of the company.

About Safi Silver Corp.

Safi Silver is a publicly traded Canadian exploration and development company with a core focus on copper and silver holdings in mining-friendly African jurisdictions. In Morocco, the company is advancing two exploration projects: Addana, which hosts silver-bearing polymetallic veins, and Silver Hill, a sedimentary copper prospect undergoing continuing evaluation. In Namibia, Safi Silver holds the Kalahari copperbelt project.

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