File: '\\swfile\EmailIn\20260515 134823 Attachment BAG Early Warning Report News Release - J15.docx'

J. FRANK CALLAGHAN

4395 PROSPECT ROAD

NORTH VANCOUVER, BC V7N 3L8

May 15, 2026

Vancouver, British Columbia - This news release is issued by J. Frank Callaghan (the "Acquiror") pursuant to the early warning requirements of National Instrument 62-103 The Early Warning System and Related Take-over Bid and Insider Reporting Issues ("NI 62-103") and with respect to a future intention regarding the disposition by the Acquiror of common shares (each "Securities") of Blende Silver Corp. (the "Issuer").

On May 12, J. Frank Callaghan reports his intention to dispose of up to 2,000,000 common shares of the Issuer. Prior to the intention the Acquiror owned and controlled 19,572,243 common shares in the capital of the Issuer, representing 20.05% of the Issuer's outstanding common shares.

The intended dispositon represents approximately 2.46% of the outstanding common shares of the Issuer (based on the Issuer having 81,383,120 common shares currently issued and outstanding).

The securities were acquired for investment purposes. Depending on market and other conditions, the Offeror may from time to time in the future increase or decrease his ownership, control or direction over the common shares or other securities of the Issuer, through market transactions, private agreements, treasury issuances, or otherwise, subject in all cases to market conditions and compliance with applicable securities laws.

NI 62-103 also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with Blende Silver Corp.'s documents under its profile on SEDAR+ at www.sedarplus.ca.

J. Frank Callaghan

For more information, please contact the Company at:

Telephone: (604) 669-6463

File: Attachment BAG Early Warning Report News Release - J15.pdf

J. FRANK CALLAGHAN 4395 PROSPECT ROAD NORTH VANCOUVER, BC V7N 3L8

May 15, 2026

Vancouver, British Columbia This news release is issued by J. Frank Callaghan (the "Acquiror") pursuant to the early warning requirements of National Instrument 62-103 The Early Warning System and Related Take-over Bid and Insider Reporting Issues ("NI 62-103") and with respect to a future intention regarding the disposition by the Acquiror of common shares (each "Securities") of Blende Silver Corp. (the "Issuer").

On May 12, J. Frank Callaghan reports his intention to dispose of up to 2,000,000 common shares of the Issuer. Prior to the intention the Acquiror owned and controlled 19,572,243 common shares in the capital of the Issuer, representing 20.05% of the Issuer's outstanding common shares.

The intended dispositon represents approximately 2.46% of the outstanding common shares of the Issuer (based on the Issuer having 81,383,120 common shares currently issued and outstanding).

The securities were acquired for investment purposes. Depending on market and other conditions, the Offeror may from time to time in the future increase or decrease his ownership, control or direction over the common shares or other securities of the Issuer, through market transactions, private agreements, treasury issuances, or otherwise, subject in all cases to market conditions and compliance with applicable securities laws.

NI 62-103 also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with Blende Silver Corp.'s documents under its profile on SEDAR+ at www.sedarplus.ca.

J. Frank Callaghan

For more information, please contact the Company at:

Telephone: (604) 669-6463