Capitan Silver Corp. (TSX-V: CAPT) is pleased to announce, further to its news release dated December 23, 2025 (entitled “Capitan Silver to Receive C$6 Million Investment from Schroders”), that Capitan has completed its investment from Schroder Investment Management Limited acting as agent on behalf of one of its UCITS funds.

Pursuant to the investment, Schroders purchased, on a non-brokered private placement basis, 2,955,665 common shares of the Company at a price of C$2.03 per Common Share for gross proceeds to the Company of C$5,999,999.95.

The Schroders Investment together with the recently completed $23 million “bought deal” offering under the ‘listed issuer financing exemption’, resulted in the Company raising equity of approximately $29 million in December 2025 through the issuance of an aggregate of 14,288,915 Common Shares at an issue price of C$2.03 per Common Share. For details on the LIFE Offering, see news release of the Company dated December 17, 2025 and entitled “Capitan Silver Announces Closing of C$23 Million Bought Deal Financing, Including Full Exercise of the Underwriters’ Option”.

The net proceeds of the Schroders Investment are expected to be used to fund exploration activities at the Company’s Cruz de Plata silver-gold project and for working capital and general corporate purposes. The Common Shares issued under the Schroders Investment will be subject to a four (4) month statutory hold period in Canada in accordance with applicable Canadian securities laws. The Schroders Investment remains subject to the final approval of the TSX Venture Exchange. A cash finder’s fee in the aggregate amount of 6% may be paid to Stifel Canada, TD Securities Inc., BMO Capital Markets and Canaccord Genuity Corp. in connection with the Schroders Investment.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.

About Capitan Silver Corp.

Capitan Silver is defining a new high-grade silver system at its Cruz de Plata project, located in the heart of Mexico’s primary silver belt. The Company is led by a proven and accomplished management team that has previously advanced three projects into production, on time and on budget. The Company has been diligent in maintaining a tight share structure and has one of the tightest share structures among its peer group, with the top three shareholders owning over 37% of the Company’s share capital. Capitan Silver is fully funded and actively drilling at its Cruz de Plata Silver project.

About Schroders plc

Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £776.6 billion (€906.6 billion; $1064.2 billion) of assets under management at 30 June 2025. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 5,800 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Principal Shareholder Group continues to be a significant shareholder, holding approximately 44% of the issued share capital.

Schroders’ success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.

Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.