Mr. Todd Anthony reports

PACIFICA SILVER ANNOUNCES CLOSING OF UPSIZED BROKERED OFFERING

Pacifica Silver Corp. has closed its previously announced upsized private placement offering of 15.87 million common shares of the company at a price of $1.45 per common share for aggregate gross proceeds of $23,011,500, which included the exercise in full of the agents' option.

The offering received broad-based support from new precious metal funds and investors, as well as continued commitment from established strategic shareholders Vizsla Silver Corp., First Majestic Silver Corp., Silvercorp Metals Inc. and renowned investor Eric Sprott.

"We are grateful to close our upsized brokered offering with robust participation from sophisticated new institutional investors possessing extensive expertise in the mining and silver sectors, as well as the support of our existing strategic shareholders," stated Todd Anthony, chief executive officer of Pacifica Silver. "Their collective endorsement reflects strong conviction in the untapped potential of our flagship Claudia silver-gold project in Durango, Mexico, and the proceeds from this financing will enable us to accelerate exploration efforts, systematically test high-priority targets and unlock the project's high-grade potential through year-round, multirig drilling operations. We sincerely appreciate the confidence placed in our team and strategy by these valued partners, and we look forward to delivering meaningful exploration progress and creating long-term value for all stakeholders in the months and years ahead."

Raymond James Ltd. acted as lead agent and sole bookrunner in connection with the offering, on behalf of a syndicate of agents, which included Research Capital Corp.

Four insiders subscribed for 180,000 units for gross proceeds of $261,000, and such participation will be considered a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company expects to be exempt from the requirement to obtain a formal valuation and minority shareholder approval in connection with the three insiders' participation in the offering in reliance on sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that their participation in the offering did not exceed 25 per cent of the fair market value of the company's market capitalization.

The net proceeds of the offering will be used to advance exploration and drilling activity at the company's Claudia project, located in Durango, Mexico, and for working capital and general corporate purposes.

Pursuant to an agency agreement among the company, Raymond James and Research Capital dated Jan. 23, 2026, the company: (i) paid a cash fee of $1,260,690 to the agents; and (ii) issued 414,031 compensation warrants to the agents. Each compensation warrant is exercisable into one common share at the offering price for a term of two years expiring on Jan. 23, 2028.

The offering was made pursuant to the listed issuer financing exemption available under National Instrument 45-106 (Prospectus Exemptions) as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption) in each of the provinces and territories of Canada other than Quebec. The common shares were also offered for sale in the United States pursuant to available exemptions from the registration requirements under the U.S. Securities Act of 1933, as amended. The common shares issued under the offering will not be subject to a statutory hold period pursuant to applicable Canadian securities laws.

About Pacifica Silver Corp.

Pacifica Silver is a Canadian resource company led by a proven management team with decades of mining and exploration experience in Mexico. The company is focused on its 100-per-cent-owned project located in Durango, Mexico. Spanning 11,876 hectares, the project encompasses most of the historic El Papanton mining district, where at least nine small mines operated throughout the 20th century. Since 1990, sampling and drilling within have returned high-grade silver and gold intercepts across multiple vein systems, with approximately 10 per cent of over 30 kilometres of known veins having been drilled. Today, the project is a prime target for modern exploration and holds exceptional potential for new high-grade discoveries.

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