Mr. Peter Latta reports

SILVER WOLF ANNOUNCES UPSIZING OF LIFE OFFERING OF UNITS TO UP TO C$2.125 MILLION

Silver Wolf Exploration Ltd., due to investor demand, is upsizing its previously announced non-brokered private placement. The updated offering will consist of up to 14,166,665 units of the company at a purchase price of 15 cents per unit for aggregate gross proceeds of up to $2,125,000, subject to a minimum of 10 million units for gross proceeds of not less than $1.5-million. The previous offering was to consist of a maximum 10 million units at 15 cents per unit for aggregate gross proceeds of up to $1.5-million and subject to a minimum of six million units for gross proceeds of not less than $900,000. All other terms remain the same as disclosed in the company's news release dated Oct. 28, 2025.

Subject to the acceptance of the updated offering by the TSX Venture Exchange, the company will carry out the offering utilizing the listed issuer financing exemption and the shares to be issued as part of the units will be free trading except in certain cases. The company reserves the right to increase the size of the offering, subject to the approval of the TSX-V.

Each unit will comprise one common share of the company and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at an exercise price of 25 cents at any time up to 36 months following the date of issuance. Finders' fees may be paid by the company in connection with the units sold under the offering as permitted under the policies of the TSX-V and applicable securities laws.

The units may be offered in all provinces of Canada except Quebec. The units may also be sold in offshore jurisdictions where permitted by law and in the United States to qualified institutional buyers as defined in Rule 144A under the United States Securities Act of 1933, as amended, as well as accredited investors as defined in Rule 501(a) of Regulation D under the 1933 act, by way of private placement pursuant to available exemptions from the registration requirements of the 1933 act.

The net proceeds of the offering will be used for a 13-hole, 3,000-metre drill program at the skarn target on the central claim at the Ana Maria property in Mexico and for the company's general working capital requirements.

There is an offering document related to this offering that will be available and can be accessed under the company's profile on SEDAR+ and at the company's website. Prospective investors should read this offering document before making an investment decision.

To the extent that any directors and/or officers of Silver Wolf participate in the offering, such participation will constitute a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company expects any participation by the insiders in the offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on the fact that neither the fair market value of the units subscribed for by the insiders, nor the consideration for the units to be paid by the insiders, will exceed 25 per cent of the company's market capitalization. Common shares issued to insiders under the offering may also be subject to a four-month resale restriction under TSX-V policies.

About Silver Wolf Exploration Ltd.

Silver Wolf is an exploration company focused on exploring high-potential projects in prime silver and gold regions of Mexico, including the Ana Maria and El Laberinto properties. The Ana Maria claims are located 21 kilometres (km) northwest of the city of Gomez Palacio and the adjacent city of Torreon. The property consists of nine mining concessions encompassing 2,549 hectares (ha). The claims are located in an area that is prolific for carbonate replacement deposits (CRDs), as well as skarn deposits in the vicinity of many active or historic mining operations. The company has operational synergies with Avino Silver & Gold Mines Ltd. and shares many years of combined experience in exploration, development and production. In addition, Silver Wolf has an experienced geological field team who has worked on similar projects with a demonstrated understanding of the jurisdiction and local communities.

We seek Safe Harbor.