Mr. Dino Cremonese reports

$996,360 PRIVATE PLACEMENT COMPLETED

Silver Grail Resources Ltd. has completed a non-brokered private placement of 4,332,000 units at 23 cents per unit, each unit consisting of a share and a warrant entitling the subscriber to purchase (with a full warrant) another share at a price of 33 cents for two years from closing.

All securities issued pursuant to the private placement are subject to a statutory four-month hold period. The private placement was conditionally approved by the TSX Venture Exchange on Nov. 12, 2025, subject to satisfactory closing.

There are no finders' fees or other commissions associated with the transaction.

The proceeds of the financing will be used to explore the company's properties in the Golden Triangle region of northwestern British Columbia and for general working capital.

Eric Sprott through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 2.5 million units for total consideration of $575,000.

Prior to the private placement, Mr. Sprott beneficially owned or controlled 2.5 million common shares of the company, representing approximately 6.4 per cent of the outstanding common shares of the company on a non-diluted basis.

As a result of the private placement, Mr. Sprott now beneficially owns or controls five million common shares and 2.5 million common share purchase warrants of the company, representing approximately 11.4 per cent on a non-diluted basis and 16.2 per cent on a fully diluted basis assuming the exercise of such warrants.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment, and may acquire additional securities, including on the open market or through private acquisitions, or sell the securities, including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of the early warning report with respect to the foregoing will appear on Silver Grail's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario Ltd., 7 King St. East, Suite 1106, Toronto, Ont., M5C 3C5).

Barry Holmes, director of Silver Grail, acquired 300,000 units of the private placement for total consideration of $69,000.

Mr. Sprott and Mr. Holmes are both insiders of the company, and, as such, their participation in connection with the private placement is a related-party transaction under the policies of the TSX Venture Exchange and Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the shares to be purchased on behalf of Mr. Sprott and Mr. Holmes, nor the consideration to be paid by them exceeds 25 per cent of the company's market capitalization.

About Silver Grail Resources Ltd.

Silver Grail is a junior exploration company with a large portfolio of properties in the southern portion of the Golden Triangle region of British Columbia. Its legacy properties, some more than 30 years old, form large islands within the extensive claim holdings of Goliath Resources in this region. During the 2025 field season, Silver Grail participated in a drill program on its Ram property, jointly owned with Teuton Resources Corp. Complete results from the drill program are expected before the end of 2025.

We seek Safe Harbor.