File: '\\swfile\EmailIn\20261029 103958 Attachment IPT - News Release re_ Stock Option Grant - Oct 29, 2026.docx'

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NEWS RELEASE

IMPACT Silver Corp.

For Release: October 29, 2026

Trading Symbols:

"IPT: TSX-V"

"ISVLF:US" "IKL:FR"

IMPACT SILVER ANNOUNCES GRANT OF STOCK OPTIONS

Vancouver, B.C., October 29, 2026. IMPACT Silver Corp. (TSXV:IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") announces that it has granted to directors, officers, consultants, and employees of the Company, stock options (the "Options") to purchase a total of 7,990,000 common shares at a price of $0.23 per common share. The Options are exercisable for a period of 5 years and have been granted in accordance with the terms of the Company's omnibus equity compensation plan, approved by the Company's shareholders on June 25, 2026 and by the TSX Venture Exchange.

The Options granted to directors, officers and consultants are subject to a four month hold period in accordance with TSX Venture Exchange policy.

ABOUT IMPACT SILVER

IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.

Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of over 200 km2 of highly prospective ground at Zacualpan in central Mexico where four producing underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. Over the past 20 years, IMPACT has developed multiple exploration zones into commercial production and has produced approximately 14 million ounces of silver, generating revenue of more than $322 million, with no long-term debt.

To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine which is being reviewed for a potential restart of operations. An upgrade to the Capire Mill is currently underway to process mill feed from the newly developing Noche Buena mine complex. At this time, this will take priority over the advancement of the adjacent Capire open pit. The upgrade of the Capire mill will increase total milling capacity and the capability of handling more diverse mill feed in the Zacualpan district.

Plomosas Zinc District: Plomosas is a high-grade zinc project in northern Mexico with exploration upside potential. The Company has put the Plomosas plant and mine on care and maintenance while it continues its exploration program and discussions with potential third-party mill feed suppliers, and at the same time is assessing arrangements that could support an economically sustainable restart. Exploration potential at Plomosas lies along a long 6 km structure. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material at surface. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.

George Gorzynski, PEng, a director of the Company, is a Qualified Person within the meaning of NI 43-101 and has approved the technical information contained in this news release.

On behalf of IMPACT Silver Corp.

"Frederick W. Davidson"

President & CEO

For more information, please contact:

Jerry Huang

Vice President, Finance | Investor Relations

(604) 664-7707 or inquiries@impactsilver.com

(778) 867-7909

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking and Cautionary Statements

This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved.

Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, criminal activity, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement except as required by law.

The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.