Mr. Todd Anthony reports

PACIFICA SILVER ANNOUNCES UPSIZING OF BROKERED OFFERING

Due to strong investor demand, Pacifica Silver Corp. has amended its agreement with Raymond James Ltd., on behalf of a syndicate of agents, including Research Capital Corp., to increase the size of its previously announced brokered private placement offering of common shares of the company to raise gross proceeds of up to $$20.01-million, consisting of 13.8 million common shares at a price of $1.45 per common share.

Under the terms of the upsized offering, the company has agreed to grant the agents an option to sell up to an additional 15 per cent of the upsized offering in common shares at the issue price for additional gross proceeds to the company of up to $3,001,500.

The net proceeds of the offering will be used to advance exploration and drilling activity at the company's Claudia project, located in Durango, Mexico, and for working capital and general corporate purposes.

The common shares issued under the offering will be issued and sold to eligible purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, will be issued to purchasers in each of the provinces of Canada, except Quebec, and other qualifying jurisdictions, including the United States, on a private placement basis, pursuant to available exemptions from the registration requirements under the U.S. Securities Act of 1933, as amended. The common shares to be issued and sold under the offering will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

There is an amended and restated offering document related to the offering that can be accessed under the company's SEDAR+ issuer profile and on the company's website. Prospective investors should read this amended and restated offering document before making an investment decision concerning the common shares.

The upsized offering is expected to close on or about Jan. 23, 2026, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional listing approval of the Canadian Securities Exchange and the applicable securities regulatory authorities. The offering is subject to final acceptance of the CSE.

About Pacifica Silver Corp.

Pacifica Silver is a Canadian resource company led by a proven management team with decades of mining and exploration experience in Mexico. The company is focused on its 100-per-cent-owned project located in Durango, Mexico. Spanning 11,876 hectares, the project encompasses most of the historic El Papanton mining district, where at least nine small mines operated throughout the 20th century. Since 1990, sampling and drilling within have returned high-grade silver and gold intercepts across multiple vein systems, with approximately 10 per cent of over 30 kilometres of known veins having been drilled. Today, the project is a prime target for modern exploration and holds exceptional potential for new high-grade discoveries.

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