Mr. Peter Dembicki reports

TIER ONE SILVER PROVIDES 2025 YEAR-END CORPORATE AND OPERATIONAL RECAP AND OUTLINES GROWTH CATALYSTS FOR 2026

Tier One Silver Inc. has provided a recap of the company's achievements in 2025 and has shared its positive outlook as it advances toward key catalysts in 2026, including the recommencement of drilling at its flagship Curibaya project in southern Peru and the evaluation of targeted project acquisition opportunities to strengthen the company's portfolio.

"Two thousand twenty-five was a foundational year for Tier One Silver -- we strengthened our financial position, deepened community partnerships and set the stage for further exploration at our flagship, Curibaya project. With positive momentum in the silver market, with prices recently hitting all-time highs and a clear road map for drilling in early 2026, we are energized by the opportunity ahead. Our team remains committed to unlocking the full potential of Curibaya as well as expanding and diversifying our project pipeline to deliver long-term success," commented Peter Dembicki, president and chief executive officer of Tier One Silver.

2025 highlights

• Strengthened financial position:
  • Tier One successfully closed a small but crucial private placement financing in January, with insiders accounting for approximately 38.5 per cent, securing capital to support continued community engagement and allowing the company to navigate through a difficult time in the junior mining markets early in the year. In the third quarter, the company closed an oversubscribed equity financing totalling $6.5-million, significantly enhancing Tier One's treasury to finance exploration at Curibaya and investigate additional project opportunities.
• Community partnerships secured:
  • Tier One continued to build strong, sustainable relationships with local stakeholders in southern Peru and extended its community agreement with the local Chipispaya community, ensuring uninterrupted access to advance exploration activities at Curibaya. The extension of this partnership, now in effect into mid-2026 with an option for further renewal, reinforces Tier One's commitment to responsible exploration and long-term community collaboration.
• Operational focus and project definition:
  • Tier One has focused its exploration efforts on refining and prioritizing targets at its Curibaya project -- leveraging existing surface data and historical drill results -- positioning the company to recommence drilling to test priority targets in Q1 2026.

Outlook for 2026

Looking forward into 2026, Tier One Silver is well positioned to deliver multiple value drivers:

• Commencement of drilling at Curibaya:
  • Following a year of preparation, community engagement and financing, Tier One plans to launch its next phase of drilling at Curibaya in Q1 2026, targeting priority high-grade silver, gold and base metal corridors -- including the highly prospective Cambaya structural target. The technical team will also be undergoing a channel and rock sampling campaign to further explore untested corridors of interest, focused in the Cambaya area.
• Expansion and diversification of project pipeline:
  • With a strengthened balance sheet and an experienced technical team, Tier One continues to advance a pipeline of prospective project opportunities across South America. The company remains disciplined in evaluating accretive acquisitions and partnerships to grow shareholder value.
• Potential discovery and catalysts:
  • Tier One aims to drive news flow, media engagement and exploration catalysts throughout 2026, including drill results, target generation work and continued stakeholder engagement.

Current precious metals market

The silver market is currently in a highly dynamic and structurally bullish phase, underpinned by a widening supply-demand imbalance and prices that reached record nominal highs in late 2025. This strength is being driven by a powerful convergence of factors, including a multiyear global supply deficit, constrained new mine development and accelerating demand from industrial applications tied to electrification, renewable energy, artificial intelligence and advanced electronics. At the same time, silver continues to benefit from its dual role as both a critical industrial metal and a monetary safe haven, attracting increased investor interest amid persistent inflationary pressures, elevated geopolitical risk and growing concerns around global fiscal stability. Broader commodity markets have also strengthened as years of under investment in mining and resource development collide with rising global consumption, creating a favourable pricing environment for high-quality assets. Against this backdrop, silver's fundamental outlook remains exceptionally strong, reinforcing its strategic importance and highlighting the significant long-term value potential for well-positioned exploration companies like Tier One.

The precious metals markets delivered strong fundamentals throughout 2025, with continuing positive momentum in both silver and gold prices. Continued investor interest in hard assets, supply-deficit dynamics in silver and gold's role as a store of value have contributed to strengthening sentiment among exploration and resource equities heading into 2026.

Favourable jurisdiction

Peru is one of the world's most important silver jurisdictions, consistently ranking among the top-three global producers alongside Mexico and China, with annual output of approximately 100 million to 120 million ounces. Located along the prolific Andean metallogenic belt, Peru hosts some of the world's highest-grade silver and polymetallic deposits, supported by established infrastructure, a skilled mining work force and decades of production history. As global silver demand accelerates and supply remains constrained, Peru's role in the global silver market becomes increasingly strategic. For investors, high-quality Peruvian silver assets offer meaningful leverage to rising silver prices, particularly through high-grade discoveries in proven mining districts.

QP (qualified person) statement

Christian Rios (senior vice-president of exploration), PGeo, is the qualified person who has reviewed and assumes responsibility for the technical contents of this press release.

About Tier One Silver Inc.

Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and copper deposits in South America. The company is focused on its flagship exploration project, Curibaya, but continues to investigate other potential projects of merit. The company's management and technical teams have a strong record in raising capital, discovery and monetization of exploration success.

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