Mr. Steve Cope reports

SILVER VIPER CLOSES FIRST TRANCHE OF LIFE OFFERING

Silver Viper Minerals Corp. has closed the first tranche of its non-brokered private placement financing pursuant to the listed issuer financing exemption (LIFE) of National Instrument 45-106, Prospectus Exemptions, announced on April 4, 2024. Under the first tranche, the company issued 21,131,000 units of the company at a price of 10 cents per unit for aggregate gross proceeds of $2,113,100.

Each unit consists of one common share of the corporation and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase an additional share at a price of 15 cents per share for a period of 36 months from its date of issue. The warrants will be governed by the terms and conditions set forth in the certificates representing the warrants.

The offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions; accordingly, the securities issued in the offering are not subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The company intends to use the net proceeds from the offering for resource expansion and exploration drilling at the La Virginia project, as well as surface exploration, including mapping and sampling. Net proceeds from the offering will also be used for the final $200,000 (U.S.) option payment on the company's La Virginia project due in June, 2024, and for general corporate purposes.

The company has agreed to pay finders' fees to certain finders in respect of those purchasers under the offering introduced to the company by such finders. In connection with the closing of the first tranche, Silver Viper will pay finders' fees of $85,020 to Red Cloud Securities, $20,562 to Canaccord Securities Inc., $13,104 to Haywood Securities Inc., $5,100 to PI Financial Corp. and $1,200 to BMO Nesbitt Burns Inc. No insiders of Silver Viper participated in the offering.

About Silver Viper Minerals Corp.

Silver Viper is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The company currently operates the La Virginia gold-silver project. Silver Viper has a 100-per-cent ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100-per-cent interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which comprises highly qualified mining professionals.

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