Mr. Andrew Rees reports

PRIVATE PLACEMENT CLOSES FULLY SUBSCRIBED

Blende Silver Corp.'s non-brokered private placement announced Jan. 30, 2026, has closed fully subscribed. Gross proceeds of $1.1-million were raised with the issue of 10 million units at a price of 11 cents per unit. Each unit is composed of one common share and one-half share purchase warrant. Each whole warrant is exercisable for a period of three years expiring Feb. 19, 2029, at a price of 15 cents subject to an acceleration clause. Acceleration would occur if, at any time after the closing date, the corporation's common shares have a closing price of 25 cents or more per share for 10 consecutive trading days on the TSX Venture Exchange, the company shall be entitled to give notice through a news release that the warrants issued pursuant to this placement will expire 30 days from the date of the news release, unless such warrants are exercised before the expiry of that period, and, in such event, all unexercised warrants will expire at 4 p.m. Pacific Time on the last day of such 30-day period.

Insider participation of $33,919 in this private placement constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the consideration for the units paid by such insider exceeds 25 per cent of the company's market capitalization.

All securities are subject to a statutory four-month-and-a-day hold period. Finders' fees calculated at 6 per cent on a portion of the private placement total $28,474 and 258,852 finders' warrants. Finders' warrants have the same terms as the subscriber warrants. The private placement is subject to TSX Venture Exchange final approval.

The proceeds from the private placement will be used for general working capital and the Blende project in Yukon.

About Blende Silver Corp.

Blende Silver is a Vancouver-based junior resource company focused on silver-zinc-lead exploration and development at the company's flagship Blende deposit in north-central Yukon. The 100-per-cent-owned property is the largest carbonate-hosted silver-zinc-lead deposit in Yukon and one of the largest undeveloped Ag-Zn-Pb deposits in Western Canada. It is winter road accessible, 5,345 hectares and situated 63 kilometres northeast of Keno Hill, Yukon. The property has had more than $9.2-million in past exploration ($5.2-million by Blende Silver), including 25,195 metres of drilling in 132 drill holes.

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