Mr. Jay Roberge reports

PANTERA SILVER PROVIDES UPDATE ON ANNUAL FINANCIAL FILINGS AND CEASE TRADE ORDER

As a result of a delay in completing and filing its audited annual financial statements for the year ended May 31, 2026, together with the related management's discussion and analysis and applicable CEO (chief executive officer) and CFO (chief financial officer) certifications (collectively, the annual filings), the British Columbia Securities Commission issued a failure-to-file cease trade order (the CTO) against Pantera Silver Corp. on Oct. 5, 2026.

The delay in completing the annual filings is primarily attributable to the additional time required to obtain, reconcile, and verify certain financial information and supporting documentation relating to the company's Bolivian entities and operations. The company has been working closely with its auditor and its personnel and service providers in Bolivia to address the outstanding matters and complete the audit as expeditiously as possible.

The CTO prohibits trading in the securities of the company in jurisdictions in which the order is effective and will remain in effect until the annual filings have been completed and the CTO has been revoked. The company believes that the remaining work can be completed in the near term and is dedicating the necessary resources to completing the annual filings as quickly as practicable.

The CTO relates to the company's continuous disclosure filing obligations. The company's underlying business and exploration activities have not ceased as a result of the CTO, and Pantera continues to advance its exploration and corporate activities in Bolivia, including at its Rakanco silver district.

The company will provide further updates regarding the status of the annual filings as appropriate.

About Pantera Silver Corp.

Pantera Silver is a mineral exploration and development company focused on creating shareholder value through the advancement and acquisition of high-quality silver projects. The company combines experienced technical teams with strategic partnerships to advance its existing portfolio while identifying new opportunities through research, staking and strategic acquisitions. Pantera is committed to responsible exploration, strong community partnerships and sound environmental practices. The company's objective is to discover and advance mineral resources that create lasting value for shareholders and local communities while contributing to the growing global demand for responsibly sourced critical and industrial metals.

We seek Safe Harbor.