Mithril Silver and Gold Limited (TSX-V: MSG) (ASX: MTH) is pleased to announce that, pursuant to an agency agreement among the Company, Ventum Financial Corp., as lead agent and sole bookrunner, together with Arlington Group Asset Management Ltd., Raymond James Ltd. and Cormark Securities Inc. dated July 24, 2025 it has closed its previously announced brokered private placement of 31,944,700 ordinary shares of the Company at a price of C$0.36 per Share for aggregate gross proceeds of C$11,500,092, which includes additional Shares issued and proceeds raised from the exercise of the Agents’ Option (defined below).

The Company granted the Agents an option, which allowed the Agents to offer up to an additional 4,166,700 Shares (representing 15% of 27,778,000 Shares initially offered to purchasers under the Offering) at the Offering Price. The Agents’ Option was fully exercised prior to the closing date of the Offering.

The Shares were offered on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws, and the Offering was made utilising the Company’s available placement capacity under ASX Listing Rules 7.1 and 7.1A.

The net proceeds from the Offering will be used to fund advancement of the Company’s Copalquin district project in Durango State, Mexico, as well as for working capital and general corporate purposes.

All Shares issued under the Offering are subject to a statutory hold period expiring November 25, 2025.

Pursuant to the Agency Agreement, the Company: (i) paid a cash fee of C$690,005.52 to the Agents, representing 6.0% of the gross proceeds of the Offering; and (ii) issued 1,916,682 compensation options to the Agents, representing 6.0% of the aggregate number of Shares issued by the Company under the Offering. Each Compensation Option is exercisable into one Share at the Offering Price for a term of two years expiring on July 24, 2027.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

All currency references herein are to Canadian dollar unless otherwise stated.

About Mithril Silver and Gold

Mithril Silver and Gold Limited is an Australian and Canadian listed precious metals exploration company, focused on its Copalquin district project, in Mexico’s Sierra Madre Gold Silver Trend.

The Copalquin mining district is located in Durango State, Mexico and covers an entire mining district of 70km². The district is within the Sierra Madre Gold Silver Trend which extends north-south along the western side of Mexico and hosts many world-class gold and silver deposits.