Mr. Tim Shearcroft reports

BP SILVER CORP REPORTS SURFACE SAMPLES UP TO 935 G/T SILVER, 1.51 G/T GOLD, 5.65% ZINC, AND 3.16% LEAD AT THE JALSURI TARGET CLUSTER AND MOBILIZES SECOND DRILL RIG AT THE COSUNO SILVER PROJECT

The first batch of assays from BP Silver Corp.'s 2026 sampling program has returned significant silver, gold, zinc and/or lead mineralization from newly identified targets at its 100-per-cent-owned Cosuno silver project in Bolivia. The company believes the strong continuity of surface mineralization as confirmed by these initial samples supports the exploration potential of these new targets. The company also announces that a second diamond drill rig has been mobilized to accelerate its continuing 2,000-metre phase 2 drill program.

Highlights:

• Widespread silver, lead and zinc mineralization occurs across the newly identified target areas within the Jalsuri target cluster.
• Eighty-five per cent of linear chip channel samples were mineralized, returning anomalous precious and base metal values.
• Results range from 10 to 935 grams per tonne silver, less than 0.005 to 1.51 g/t gold, 0.10 per cent to 5.65 per cent zinc, and 0.10 per cent to 3.16 per cent lead, defining a near-surface silver-gold-zinc target at Jalsuri North and a silver-lead-zinc target at Jalsuri Northeast.
• Higher gold values found at Jalsuri North, with the highest sample reporting 1.51 g/t gold collected from a historic mine dump, also contained greater than 10 ounces silver.
• A second drill rig has been mobilized on site to expedite phase 2 drilling.

Dr. Stewart D. Redwood, director and qualified person, commented: "The surface sampling has returned impressive grades of silver, lead and zinc across most of the sampled structures. These are meaningful grades for surface sampling and demonstrate continuous mineralization over an aggregate strike length of approximately 2,100 m at the newly identified Jalsuri targets. The results indicate that mineralization occurs at surface, highlighting the potential for shallow open-pit mineralization while also supporting the possibility of higher-grade vein systems at depth. The phase 2 drill program is designed to test the shallow mineralization, and drill holes may be extended beyond their planned depths where significant mineralization is encountered. We also believe these structures extend to depths of several hundred metres into the underlying basement rocks, where they may develop into higher-grade veins similar to those at the neighbouring Pulacayo silver mine."

Tim Shearcroft, founder and chief executive officer, stated: "The key take-away from these results is that silver mineralization is prevalent across all of the new areas sampled. The consistency of mineralization across these newly identified structures continues to demonstrate the scale of the opportunity at Cosuno. In addition to the widespread silver mineralization, these results also contain meaningful levels of zinc, lead and gold, which we believe will contribute significantly to future silver equivalent values as the project advances."

Detail

The first batch of laboratory results from Cosuno's 2026 sampling program comprises 179 surface chip and channel samples, along with one mine dump sample, confirming widespread silver, lead and zinc mineralization across the Jalsuri, Jalsuri North and Jalsuri Northeast target areas. Samples reported in this news release exceed the company's reporting thresholds of greater than 10 parts per million silver, greater than 0.005 ppm gold, greater than 1,000 ppm lead and/or greater than 1,000 ppm zinc.

Silver:

• Twenty-one per cent of samples assayed greater than 30 ppm Ag.
• Fourteen per cent of samples assayed greater than 60 ppm Ag.
• Ten per cent of samples assayed greater than 100 ppm Ag.
• Maximum assay was 935 ppm Ag (30.1 ounces per ton).

Lead:

• Forty-four per cent of samples assayed greater than 1,000 ppm Pb (0.1 per cent).
• Five per cent of samples assayed greater than 10,000 ppm Pb (1.0 per cent).
• Maximum assay was 31,600 ppm Pb (3.16 per cent).

Zinc:

• Seventy per cent of samples assayed greater than 1,000 ppm Zn (0.1 per cent).
• Twenty-one per cent of samples assayed greater than 10,000 ppm Zn (1.0 per cent).
• Maximum assay was 56,500 ppm Zn (5.65 per cent).

Gold:

• Five samples assayed greater than 0.30 g/t Au along the principal structure at Jalsuri North, including a mine dump sample assaying 1.51 g/t Au at the northwestern end of the structure.

Jalsuri North target

Jalsuri North is a newly identified target within the Jalsuri target cluster, extending approximately 400 m in length and up to 200 m in width. The target is composed of a structurally controlled silver-gold-lead-zinc system that hosts both high-grade polymetallic veins and broad zones of disseminated sulphide mineralization. Three principal mineralized vein structures have been identified to date, including a main vein traced for more than 350 m and two branching veins extending up to 270 m, with extensive silicification, quartz veining, sulphide mineralization and silver-bearing sulphosalts, together with historical artisanal workings, demonstrating the continuity and strength of the hydrothermal system. The combination of continuous surface mineralization, widespread hydrothermal alteration, disseminated sulphide halos and multiple mineralized structures highlights Jalsuri North as a high-priority phase 2 drill target with potential to host both near-surface bulk-tonnage mineralization and higher-grade veins.

Channel sample highlights include:

• 1.10 m of 935.00 g/t Ag and 0.32 g/t Au;
• Dump sample of 327.00 g/t Ag and 1.51 g/t Au;
• 2.0 m of 219.00 g/t Ag and 0.41 g/t Au;
• 0.70 m of 5.65 per cent Zn;
• 1.20 m of 2.80 per cent Zn;
• 2.00 m of 2.15 per cent Zn.

Jalsuri Northeast target

Jalsuri Northeast is a newly identified target that has returned significant silver, lead and zinc values from surface sampling. The principal target is an east-west-striking 1,000-metre-long breccia/vein structure hosted within altered andesitic volcanic rocks. Mineralization occurs in quartz-barite veins, hydrothermal breccias, silicified fault zones and broad zones of disseminated sulphides associated with strong silicification and argillic alteration. Numerous artisanal workings developed along the principal mineralized structure demonstrate continuity of mineralization to depth. Hydrothermal breccias and silicified zones along the principal structure locally reach 35 to 40 m in apparent width and contain silver-bearing sulphosalts, galena, sphalerite and barite. The combination of extensive hydrothermal alteration, broad zones of disseminated sulphide mineralization outboard of the principal structure and higher-grade silver mineralization within the principal structure highlights the potential for a significant silver-base-metal deposit at surface.

Channel sample highlights include:

• 2.00 m of 467.00 g/t Ag;
• 1.50 m of 149.00 g/t Ag;
• 2.00 m of 3.71 per cent Zn;
• 2.00 m of 2.96 per cent Zn.
• 61 of 85 samples (72 per cent) returning greater than 1,000 ppm Pb (0.1 per cent).

Reported channel sample intervals are sample lengths and may not represent true widths. The true thickness of the mineralization is unknown at this time.

Phase 2 drill program

Cosuno's phase 2 drill program commenced on June 30, 2026. Refer to the news release dated July 7, 2026, for more information, and the first diamond rig initiated drilling at the Pocanita Chica target. The second diamond drill rig has been mobilized and will commence drilling at the Jalsuri North and Jalsuri Northeast targets to test the near-surface mineralization potential.

Operating two drill rigs simultaneously will increase exploration efficiency and accelerate the evaluation of multiple high-priority targets, as well as advance the company's understanding of the mineralized system at the Cosuno project.

The company will provide regular updates as drilling progresses and assay results become available.

Qualified person

The technical information contained in this news release has been reviewed and approved by Dr. Redwood, PhD, FIMMM, a director of the company, a qualified person as defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects). As Dr. Redwood is a director of the company, he is not independent under National Instrument 43-101. Mineralization at the Pulacayo deposit is not necessarily indicative of mineralization at the Cosuno project.

Quality assurance/quality control

The work program was designed and supervised by Gonzalo Lemuz, PGeo, the company's chief operating officer, who was responsible for all aspects of the work, including the quality assurance and quality control program. On-site personnel at the project rigorously collects and tracks samples which are then security sealed and shipped to the ALS laboratory in Oruro for sample preparation. The core samples were prepared by ALS at its in Oruro, Bolivia, and the sample pulps were shipped to its laboratory in El Callao, Peru, for analysis. ALS is accredited to ISO/IEC 17025:2017 and ISO9001:2015. ALS is independent of BP Silver. Silver and multielements were analyzed by aqua regia digestion and ICP-MS finish. Gold was analyzed by fire assay and AA finish. BPAG inserted certified standard reference materials, blanks and duplicates to monitor QA/QC. All diamond drill holes were drilled in HQ diameter. The average core recovery was 97.5 per cent for CO-0001 and 95 per cent for CO-0002.

About BP Silver Corp.

BP Silver is a Canadian exploration company focused on advancing high-grade silver projects in Bolivia. The company's flagship asset, the Cosuno project, is strategically located in the prolific Bolivian silver belt, a region with a rich mining history and significant untapped discovery potential. With a strong technical team and a disciplined exploration strategy, BP Silver is positioned to unlock value for its shareholders through the discovery and development of major silver deposits.

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