Mr. Greg Davison reports

SILVER SPRUCE RESOURCES INC. COMPLETES SHARE CONSOLIDATION

Further to Silver Spruce Resources Inc.'s new release dated Oct. 28, 2025, the company has completed the consolidation of its issued and outstanding common shares on the basis of one postconsolidation common share for every 15 preconsolidation common shares, as approved at the 2024 annual general and special meeting of shareholders, held Nov. 5, 2024. The consolidation has reduced the number of issued and outstanding common shares from 324,152,832 common shares to 21,610,189 common shares. As previously announced, no fractional common shares were issued in connection with the consolidation. Where the exchange resulted in a fractional postconsolidation common share representing less than 0.5 of a postconsolidation common share, the holder of preconsolidation common shares was not entitled to receive one whole postconsolidation common share and where the exchange resulted in a fractional postconsolidation common share representing 0.5 or more of a postconsolidation common share, the holder of preconsolidation common shares received one whole postconsolidation common share.

The common shares are expected to begin trading on the TSX Venture Exchange on a postconsolidation basis at markets open on Nov. 4, 2025. The common shares will continue to trade on the TSX-V under the stock symbol SSE under a new Cusip: 828229302 and new ISIN: CA8282293023. Outstanding warrants and options will be adjusted accordingly to reflect the consolidation ratio in accordance with the terms of the respective instruments.

The company's transfer agent, TSX Trust Company, is mailing a letter of transmittal to each registered shareholder. The letter of transmittal contains instructions on how to surrender to the transfer agent the certificate(s) representing the preconsolidation common shares. The transfer agent will send to each registered shareholder who follows the instructions provided in the letter of transmittal a new share certificate representing the number of postconsolidation common shares to which the shareholder is entitled or, alternatively, a DRS Advice/statement representing the number of postconsolidation common shares the shareholder is entitled following the consolidation. No action is required by beneficial shareholders of the company to receive postconsolidation common shares in connection with the consolidation. Beneficial shareholders who hold their preconsolidation common shares through intermediaries (that is, a broker, bank, trust company investment dealer or other financial institution) and who have questions regarding how their common shares will be processed in connection with the consolidation should contact their intermediaries. Additional copies of the letter of transmittal can be obtained from the transfer agent by calling 1-800-387-0825 or by e-mailing shareholderinquiries@tmx.com.

Further details regarding the consolidation are contained in the company's management information circular dated Sept. 23, 2024, which is available on SEDAR+ under the company's profile.

About Silver Spruce Resources Inc.

Silver Spruce is a Canadian junior exploration company holding 100-per-cent interest in the Jackie Au (gold) project located less than 10 kilometres northwest from Minera Alamos's Nicho deposit in Sonora, Mexico, and the Melchett Lake Zn-Au-Ag (zinc-gold-silver) project in Northern Ontario. The company has an option to acquire 100-per-cent interest in the Pino de Plata Ag project located 15 kilometres west of Coeur Mining's Palmarejo mine in western Chihuahua, Mexico. The company continues to investigate opportunities that management has identified or that have been presented to the company for consideration.

We seek Safe Harbor.