Mr. Alberto Orozco reports

CAPITAN SILVER COMPLETES C$6 MILLION INVESTMENT FROM SCHRODERS

Further to the news release dated Dec. 23, 2025 (entitled "Capitan Silver to Receive C$6 Million Investment from Schroders"), Capitan Silver Corp. has completed its investment from Schroder Investment Management Ltd. acting as agent on behalf of one of its UCITS funds.

Pursuant to the investment, Schroder purchased, on a non-brokered private placement basis, 2,955,665 common shares of the company at a price of $2.03 per common share for gross proceeds to the company of $5,999,999.95.

The Schroder investment, together with the recently completed $23-million bought deal offering under the listed issuer financing exemption, resulted in the company raising equity of approximately $29-million in December, 2025, through the issuance of an aggregate of 14,288,915 common shares at an issue price of $2.03 per common share. For details on the LIFE offering, see news release of the company dated Dec. 17, 2025, and entitled "Capitan Silver Announces Closing of C$23 Million Bought Deal Financing, Including Full Exercise of the Underwriters' Option."

The net proceeds of the Schroder investment are expected to be used to finance exploration activities at the company's Cruz de Plata silver-gold project and for working capital and general corporate purposes. The common shares issued under the Schroder investment will be subject to a four-month statutory hold period in Canada in accordance with applicable Canadian securities laws. The Schroder investment remains subject to the final approval of the TSX Venture Exchange. A cash finder's fee in the aggregate amount of 6 per cent may be paid to Stifel Canada, TD Securities Inc., BMO Capital Markets and Canaccord Genuity Corp. in connection with the Schroder investment.

About Capitan Silver Corp.

Capitan Silver is defining a new high-grade silver system at its Cruz de Plata project, located in the heart of Mexico's primary silver belt. The company is led by a proven and accomplished management team that has previously advanced three projects into production, on time and on budget. The company has been diligent in maintaining a tight share structure and has one of the tightest share structures among its peer group, with the top-three shareholders owning over 37 per cent of the company's share capital. Capitan Silver is fully financed and actively drilling at its Cruz de Plata silver project.

About Schroders PLC

Schroder is a global investment manager which provides active asset management, wealth management and investment solutions, with 776.6 billion pounds sterling (906.6 billion euros or $1,064.2-billion) of assets under management at June 30, 2025. As a United Kingdom-listed FTSE100 company, Schroder has a market capitalization of circa six billion pounds sterling and over 5,800 employees across 38 locations. Established in 1804, Schroder remains true to its roots as a family-founded business. The principal shareholder group continues to be a significant shareholder, holding approximately 44 per cent of the issued share capital.

Schroder's success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: public markets, solutions and wealth management, and Schroder Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt and credit alternatives, and real estate.

Schroder aims to provide excellent investment performance to clients through active management. This means directing capital toward resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroder serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high-net-worth individuals and family offices, as well as end clients through partnerships with distributors, financial advisers and on-line platforms.

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