Mr. Gary Thompson reports

SILVER47 ANNOUNCES $3 MILLION PRIVATE PLACEMENT

Silver47 Exploration Corp. intends to complete a non-brokered private placement of units of the company at a price of 50 cents per unit for aggregate gross proceeds of up to $3-million.

Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase one common share at a price of 75 cents per warrant share for a period of 36 months after the closing date of the private placement.

The private placement is expected to close on or about March 12, 2025, or on any other date or dates as the company may determine. Closing of the private placement is subject to receipt of conditional acceptance from the TSX Venture Exchange. The units issued under the private placement and the underlying securities will be subject to certain resale restrictions such as a hold period of four months and one day from the closing date.

Insiders plan to participate in the private placement and the participation of insiders will be considered a related party transaction subject to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the private placement by insiders will not exceed 25 per cent of the company's market capitalization.

Net proceeds from the private placement will be used to advance exploration drilling at the Red Mountain project in Alaska and for general corporate purposes. The company may pay fees to certain finders in connection with the sale of units to purchasers introduced to the company by such finders. The company reserves the right to increase the size of the private placement to $5-million in the context of the market.

About Silver47 Exploration Corp.

Silver47 wholly owns three silver and critical metals (polymetallic) exploration projects in Canada and the United States. The flagship Red Mountain silver-gold-zinc-copper-lead volcanogenic massive sulphide/sedimentary exhalative (VMS/sedex) project in southern-central Alaska hosts a National Instrument 43-101 inferred mineral resource estimate of 15.6 million tonnes at 7 per cent zinc equivalent for one million tonnes of zinc equivalent or 335.7 grams per tonne silver equivalent for 168.6 million ounces silver equivalent at the Dry Creek (DC) and West Tundra Flats (WTF) resource areas as combined open pit and underground. Silver47 shares trade on the TSX-V under the ticker symbol AGA.

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