Mr. Kevin O'Connor reports

SILVER SPRUCE RESOURCES, INC. PURCHASES 100% INTEREST IN PINO DE PLATA CLAIMS IN MEXICO

Silver Spruce Resources Inc. has successfully secured a 100-per-cent interest in the Pino de Plata claims.

Silver Spruce executed an assignment agreement on July 2, 2026, with the claims holder of the four Pino de Plata concessions, whereby Silver Spruce now wholly owns the four concessions and is the sole claims holder. This upgrades the ownership of Pino de Plata compared with the previous option agreement announced on May 30, 2025, which kept the claims in the former claims holder's name until further payments were made, as announced, and which had a three-year time limit to sell the property. Location of the Pino de Plato project in Mexico in relationship to other porphyry copper deposits and prospects.

Under this new arrangement, Silver Spruce now owns the claims outright and there is no time limit on development, exploration, or sale. The terms are that Silver Spruce paid $10,000 (U.S.) to the former claims holder and is required to pay to the former claims holder 10 per cent of gross proceeds upon future sale of the claims. Additionally, a payment of $15,000 (U.S.) is due in both 2027 and 2028; thereafter, an annual payment of $25,000 (U.S.) is due each subsequent year. Annual payments cease upon sale of the claims. There are no royalties attached to the claims, and there are no exploration spending requirements.

The assignment agreement is currently being registered with the Mexico Ministry of Mining.

Silver Spruce has also had face to face meetings with landowner representatives, and legal counsel, in both Chihuahua and Hermosillo the past several months to discuss land access to Pino de Plata, geological exploration and development plans, and negotiations are continuing. This is the first set of in person meetings with landowner representatives since 2019.

The company remains current on property taxes through the second half of 2026 on Pino de Plata and looks forward to advancing its proposed phase 1 exploration drilling program.

Paul K. Smith (PGeo) continues to advance the corporation's technical information pertaining to the property as a whole, and to further refine its priority drill targets. Mr. Smith commented: "This represents a significant advancement for Silver Spruce's ownership of the Pino concessions, which is now direct and enduring. We look forward to finally get on the ground and complete preliminary geological surveys ahead of mobilizing drilling equipment upon negotiating a land access agreement."

Project background

Pino de Plata is located within the western portion of the Sierra Madre occidental volcanic complex within the prominent northwest-trending Sonora gold belt of northern Mexico and is parallel to the precious metals-rich Mojave-Sonora Mega-shear.

The 397-hectare Pino de Plata Ag-Pb-Zn-Cu-Au (silver-lead-zinc-copper-gold) concessions are located 15 kilometres west from Coeur Mining Inc.'s Palmarejo open pit and underground operations and the property is mostly surrounded by Coeur through its December, 2014, acquisition (valued at $146-million (U.S.)) of the adjacent San Miguel project via its all-share transaction with Paramount Gold and Silver. Pino has supported small scale, historical production of high-grade mineralization from artisanal workings. Moderate to intense alteration is widespread across the property.

The project area is known to host widespread mineralization at surface with silver values, on average, of greater than 50 grams per tonne Ag, with local targets greater than 500 g/t Ag. Consejo de Recursos took a sample at the Santa Elena in 1985 that reportedly contained 672 g/t Ag, 2.09 per cent Pb and 4.15 per cent Zn. Exposed mineralization at Pino is host to three distinct target types, including (a) disseminated epithermal, (b) carbonate replacement, and (c) significant vein mineralization. Each of these mineralization styles provides high-priority, shallow drill targets. The Pino property has never been drilled.

About Silver Spruce Resources Inc.

Silver Spruce Resources is a Canadian junior exploration company. The company's diversified exploration portfolio includes:

• Pino de Plata Ag project -- High-grade silver property with historic artisanal mining located 15 kilometres west of Coeur Mining's Palmarejo mine in western Chihuahua, Mexico.
• Jackie Au-Ag project -- Early stage epithermal project with high-grade surface sampling and strong structural targets located less than 10 kilometres northwest from Minera Alamos's Nicho deposit in eastern Sonora, Mexico.
• Melchett Lake VMS Zn-Ag-Au-Cu project -- Polymetallic project with historical drilling in the Thunder Bay mining district of Ontario.

Qualified person

The qualified person for this news release is Paul K. Smith, (PGeo), vice-president of exploration for the company. Mr. Smith verifies that the information in this release of continuing exploration of results and mineral resources is an accurate representation of the available data, and is based on information either compiled or reviewed by Mr. Smith. Paul is registered with the Association of Professional Geoscientists of Nova Scotia. Mr. Smith has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a qualified person as defined under National Instrument 43-101 in the 2012 edition of the Joint Ore Reserves Committee's Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Smith consents to the inclusion in the report of the matters based on the context of this information.

We seek Safe Harbor.