Mr. Geir Liland of Argentina reports

ARGENTA SILVER CLOSES EL QUEVAR PROJECT ACQUISITION

Argenta Silver Corp. (formerly Butte Energy Inc.) has acquired a 100-per-cent interest in the high-grade El Quevar silver project, located in Salta province, Argentina. The purchase was completed through the acquisition of all issued and outstanding shares of Silex Argentina SA for total consideration of $3.5-million.

Strategic acquisition positions Argenta as an emerging silver leader

El Quevar acquisition marks a significant milestone for Argenta, positioning the company as a rising force in silver's future. The company's mission is to advance world-class silver projects in mining-friendly regions, driving sustainable value for its shareholders while supporting the global energy transition.

Following the acquisition, Argenta's common shares, which were previously halted, are expected to resume trading on the TSX Venture Exchange under the new ticker symbol AGAG on Monday, Oct. 28, 2024, subject to exchange final approval.

About El Quevar project

El Quevar project is distinguished by its high-grade pure silver mineral resource and substantial existing infrastructure. The Yaxtche deposit within the project hosts an indicated mineral resource of 45.3 million ounces of silver at a grade of 482 grams per tonne silver and an inferred resource of 4.1 million ounces at 417 g/t Ag (1). Remarkably, the Yaxtche deposit covers less than 1 per cent of El Quevar's expansive 56,709-hectare property, and remains open to the east and west, indicating significant exploration upside.

The project benefits from over 100,000 metres of historical drilling, excellent international road access and more than 60 kilometres of internal roads. Additionally, El Quevar is equipped with a fully operational camp for 100 workers, existing permits, and access to power and transport networks. These assets provide significant cost savings and offer a clear path to rapid development.

(1) Source: National Instrument 43-101 technical report on the mineral resource estimate of El Quevar project, Salta province, Argentina, Wood Canada Ltd., 2024.

Management appointments

The company is also pleased to announce the appointment of Joaquin Marias as vice-president of exploration and development. An Argentine geologist with over 15 years of experience, Mr. Marias has been monitoring El Quevar project for over a decade and was instrumental in identifying this opportunity for Argenta.

Mr. Marias brings extensive expertise in international precious metal exploration and development, having previously advised Frank Giustra's Fiore Group and worked with Dolly Varden Silver. His successful experience in building a prospect generator company in Argentina provides him with a deep understanding of the social licence required for successful operations across various provinces.

"El Quevar is one of Argentina's most promising and underexplored silver districts," commented Mr. Marias. "We see the potential for it to be part of a much larger mineral system. Our goal is to unlock its full potential, creating value for our shareholders while benefiting nearby communities."

In addition to the appointment of Mr. Marias, the directors of the company have appointed Aaron Triplett, CPA, CA, as chief financial officer, and Michelle Borthwick as corporate secretary of the company, effective immediately.

Mr. Triplett is a chartered professional accountant (CPA and CA), and has accumulated over 15 years experience in the field of financial management and accounting, specializing in forecasting, compliance and risk management, and the development and monitoring of control systems. Mr. Triplett's experience includes acting as chief financial officer for various operating public companies listed on the TSX Venture Exchange and the Canadian Securities Exchange. Mr. Triplett is currently chief financial officer of Fiore Management & Advisory Corp. Prior to his work with public companies, Mr. Triplett was an audit and assurance manager for a mid-size public accounting firm.

Ms. Borthwick is a corporate finance and governance professional with over 25 years experience in senior corporate finance and governance roles with publicly listed issuers on Canadian and international stock exchanges. She is senior vice-president, corporate finance, of Fiore Management & Advisory, and the founder and principal of Peakshore Consulting Inc. Prior to that, she was vice-president, corporate affairs, and corporate secretary of Endeavour Mining Corp.

With the appointments of Mr. Triplett and Ms. Borthwick, the company has accepted the resignation of Kia Russell as CFO and corporate secretary of the company, and would like to thank her for her past contributions.

Financing and strategic investment

In connection with El Quevar acquisition, Argenta completed a non-brokered private placement of 101,801,536 common shares at a price of 15 cents per share, raising gross proceeds of $15,270,230. The company is pleased to highlight that Mr. Giustra participated in the financing, and now owns or controls approximately 13.62 per cent of the company on an undiluted basis (15.41 per cent on a partially diluted basis). His involvement underscores a strong endorsement of Argenta's strategic direction and the potential of El Quevar project.

The company also received unsecured, non-interest-bearing one-year term loans totalling $500,000 (U.S.) and $925,000 from certain arm's-length parties. In consideration, Argenta issued 9.8 million share purchase warrants exercisable at 16 cents per share for a period of one year. A portion of the loans ($817,500) was settled through the issuance of common shares of the company on the same terms as the above-mentioned non-brokered private placement, resulting in the issuance of an aggregate of 5.45 million common shares of the company, which shares are included in the 101,801,536 shares issued under the above-mentioned non-brokered private placement. Additionally, 1,575,000 common shares were issued as finders' and advisory fees. Concurrent with the acquisition, the company changed its name from Butte Energy Inc. to Argenta Silver Corp., reflecting its renewed focus and commitment to silver exploration and development. The company issued 75,000 common shares to a third party holding rights to the name Argenta Metals Corp. under an asset purchase agreement among the company and Argenta dated Oct. 4, 2024, pursuant to which the company was able to reserve, and ultimately change, its name, Argenta Silver Corp., with the B.C. Corporate Registry. The new Cusip for the company's common shares after the name change is 039944103, and the ISIN is CA0399441033.

Stock option grant and investor relations agreement

Pursuant to the company's stock option plan, an aggregate of 10.5 million stock options have been granted to directors, officers, employees and consultants of the company. The options are exercisable at a price of 16 cents per share for a period of 10 years from the date of grant.

Additionally, the company has entered into a marketing service agreement with Gold Standard Media LLC, an Internet marketing and advertising company. Gold Standard will provide marketing services to the company for a period of two years, including e-mail marketing campaigns, landing pages, advertisements and other related services to assist the company in raising public awareness of the company and enhance its on-line presence. Gold Standard is an arm's-length party to the company.

Subject to the approval of the exchange, the company granted to Gold Standard a total of 1.5 million incentive stock options at a price to be determined in accordance with exchange policies for a period of 10 years from the date of grant. Once the exercise price for the Gold Standard options has been determined, additional disclosure will be made by the company. In accordance with the policies of the exchange, the Gold Standard options shall vest in four equal instalments over a period of 12 months from the date of grant.

Gold Standard is a limited liability company existing under the laws of the State of Texas with an office at 723 West University Ave., 110-283, Georgetown, Tex. Gold Standard uses third party service providers for the purpose of these marketing activities. The marketing agreement is subject to exchange approval, and the company confirms that no compensation of any kind may be paid in connection with the marketing agreement until exchange acceptance of the marketing agreement has been provided. To the best of the company's knowledge, certain affiliates and parties related to Gold Standard currently own 5.19 million shares of the company.

Additional details from the technical report

El Quevar project is located along the southern margin of the Andean Central volcanic zone within the Quevar volcanic complex. Alteration at the structurally controlled Yaxtche deposit is typical of high-sulphidation epithermal deposits. The Yaxtche deposit remains open along strike and is within the greater project area, where several additional prospects have been identified and remain to be fully tested.

The mineral resource estimate presented in the attached table is based on an assumed underground mining method and a silver price of $26 per ounce, is constrained with a mineralized envelope, and is above an elevated cut-off of 250 grams per tonne silver. A portion of the mineralization is oxide material that could be amenable to open-pit mining and a separate process recovery option, which would require a different resource model.

Metallurgical testwork has focused on sulphide mineralization from underground portions of the Yaxtche deposit, which concluded that acceptable silver recoveries could be obtained by flotation concentration. For the purposes of mineral resource estimation, the assumed process method is selective, rougher and cleaner flotation to produce a bulk silver concentrate. Based on testwork results, the bulk silver concentrate would contain elevated levels of arsenic, antimony and bismuth impurities, which would result in concentrate treatment charges and incur penalty charges.

As part of his data verification, Wood's qualified person Henry Kim performed standard industry desktop activities, including checking information with original source documents, comparing available topography surface on screen with drill hole collars, reviewing drill hole logs and comparing them with logged lithology, and engaging with Argenta advisers to answer specific questions. During his recent visit to El Quevar project site, QP Mr. Kim performed standard validation checks, including viewing drill holes and comparing them with cross-section maps, original drill logs and assay certificates, and measured drill hole co-ordinates with a hand-held global positioning system device comparing them with the drill hole database.

Wood's qualified person Alan Drake performed appropriate data verification by checking information with original source documents.

The technical report will be filed under the company's SEDAR+ profile.

About Argenta Silver Corp.

Argenta is a focused silver exploration company committed to advancing projects that support the global energy transition. Its mission is to create sustainable, long-term value for shareholders by acquiring and developing high-potential silver assets in mining-friendly jurisdictions across Latin America. Led by an experienced management team with deep expertise in exploration, finance and project development, Argenta takes a disciplined, strategic approach to growth. With a strong emphasis on responsible mining practices, it is well positioned to meet the rising demand for silver -- a critical metal in renewable energy and emerging technologies -- while building a lasting and successful company.

Andrew Hamilton, PGeo, a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the scientific and technical information contained in this news release.

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