Mr. Galen McNamara reports

SILVER47 ANNOUNCES CLOSING OF $34.5 MILLION BOUGHT DEAL PUBLIC OFFERING, INCLUDING FULL EXERCISE OF OVER-ALLOTMENT OPTION

Silver47 Exploration Corp. has completed its previously announced and upsized bought deal public offering of 32,857,800 units of the company, including the full exercise of the overallotment option, at a price of $1.05 per unit for aggregate gross proceeds to the company of $34,500,690.

The offering was led by Research Capital Corp. as the lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, including Haywood Securities Inc.

Each unit consists of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of $1.40 per common share until Jan. 14, 2029.

The net proceeds from the offering will be used to accelerate and expand planned drill programs on the company's silver projects, and for working capital and general corporate purposes.

The offering was completed pursuant to a prospectus supplement of the company, filed in all of the provinces of Canada and dated Jan. 2, 2026, which supplemented the short form base shelf prospectus of the company dated Nov. 26, 2025. The offering remains subject to the final approval of the TSX Venture Exchange.

In connection with the offering, the company paid the underwriters an aggregate cash commission of $1,965,433.05 and issued to the underwriters an aggregate of 1,871,841 broker warrants. The underwriters also received an aggregate advisory fee of $29,000 plus tax and an aggregate of 27,619 advisory broker warrants on the same terms as the broker warrants. In addition, the company issued to an eligible arm's-length party 71,427 finder's warrants on the same terms as the broker warrants. Each broker warrant entitles the holder thereof to acquire one common share at a price of $1.05 per common share until Jan. 14, 2029.

Eventus Capital Corp. is a special adviser to the company.

About Silver47 Exploration Corp.

Silver47 Exploration is a mineral exploration company, focused on uncovering and developing silver-rich deposits in North America. The company is creating a leading high-grade United States-focused silver developer with a combined resource totalling 236 million ounces (oz) silver equivalent (AgEq) at 334 grams per tonne (g/t) AgEq inferred and 10 million oz at 333 g/t AgEq indicated. With operations in Alaska, Nevada and New Mexico, Silver47 is anchored in America's most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions and technical reports, please refer to the National Instrument 43-101 technical report and other filings available on SEDAR+. The company trades on the TSX Venture Exchange under the ticker symbol AGA and OTCQX under the ticker symbol AAGAF.

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