Silver Viper Minerals Corp. (TSX-V: VIPR) (OTC: VIPRF) is pleased to announce that it has closed the first tranche of its non-brokered private placement financing pursuant to the Listed Issuer Financing Exemption of National Instrument 45-106 – Prospectus Exemptions announced on April 4, 2024. Under the First Tranche, the Company issued 21,131,000 units of the Company at a price of $0.10 per Unit for aggregate gross proceeds of $2,113,100.

Each Unit consists of one (1) common share of the Corporation  and one-half of one common share purchase warrant. Each Warrant will entitle the holder to purchase an additional Share at a price of $0.15 per Share for a period of thirty-six months from its date of issue. The Warrants will be governed by the terms and conditions set forth in the certificates representing the Warrants.

The Offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, accordingly, the securities issued in the Offering are not subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at: https://silverviperminerals.com. Prospective investors should read this Offering Document before making an investment decision.

The Company intends to use the net proceeds from the Offering for resource expansion and exploration drilling at the La Virginia Project as well as surface exploration including mapping and sampling. Net proceeds from the Offering will also be used for the final US$200,000 option payment on its La Virginia Project due in June 2024, and for general corporate purposes.

The Company has agreed to pay a finder’s fee to certain finders in respect of those purchasers under the Offering introduced to the Company by such finder. In connection with the closing of the First Tranche, Silver Viper will pay finder’s fees of $85,020 to Red Cloud Securities, $20,562 to Canaccord Securities Inc., $13,104 to Haywood Securities Inc., $5,100 to PI Financial Corp. and $1,200 to BMO Nesbitt Burns Inc. No insiders of Silver Viper participated in the Offering.

The securities described herein 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 accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Company

Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.