Silver47 Exploration Corp. (TSX-V: AGA) (OTCQB: AAGAF) is pleased to announce the closing of its previously announced brokered private placement of units at a price of $0.70 per Unit for aggregate gross proceeds of $23,000,460, including the full exercise of the over-allotment option.

The Offering was led by Research Capital Corporation, as lead agent and sole bookrunner, on behalf of a syndicate of agents, including Eventus Capital Corp. and Haywood Securities Inc.

Each Unit is comprised of one common share of the Company and one-half of one Common Share purchase warrant. Each Warrant is exercisable to acquire one Common Share at a price of $1.00 per Common Share until September 16, 2028.

The Company intends to use the net proceeds of the Offering for further exploration work on the Company’s projects and for general working capital purposes.

The Units were sold in reliance on the “listed issuer financing exemption” from the prospectus requirement available under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemptions. The securities sold under the Listed Issuer Financing Exemption, including securities issuable upon exercise thereof, are not subject to a hold period in accordance with applicable Canadian securities laws, other than those sold to a director of the Company which are subject to a hold period expiring on January 17, 2026 in accordance with the policies of the TSXV Venture Exchange.

In consideration for the services provided by the Agents in connection with the Offering, Silver47 paid to the Agents an aggregate cash commission of $1,193,175 and issued to the Agents an aggregate of 1,704,536 broker warrants of the Company. Each Broker Warrant is exercisable to acquire one Common Share at a price of $0.70 per Common Share until September 16, 2028. In addition, the Company paid an advisory fee of $179,342.80 plus tax and issued 256,204 advisory warrants of the Company on the same terms as the Broker Warrants.

A director of Silver47 acquired 100,000 Units for gross proceeds of $70,000 pursuant to the Offering, and as such the Offering is considered a related party transaction within the meaning of Policy 5.9 of the TSXV Venture Exchange and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Neither Silver47, nor to the knowledge of Silver47 after reasonable inquiry, a related party, has knowledge of any material information concerning Silver47 or its securities that has not been generally disclosed. Silver47 has relied on exemptions from the formal valuation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, based on a determination that the fair market value of the participation in the Offering by the insider will not exceed 25% of the market capitalization of the Silver47, as determined in accordance with MI 61-101. Silver47 did not file a material change report more than 21 days before the expected closing of the Offering because the details of the participation therein by a related party of Silver47 were not settled until shortly prior to closing of the Offering and the parties wished to close on an expedited basis for business reasons.

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 of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 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 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About Silver47 Exploration Corp.

Silver47 Exploration Corp. is a mineral exploration company, focused on uncovering and developing silver-rich deposits in North America. The Company is creating a leading high-grade US-focused silver developer with a combined resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz at 333 g/t AgEq Indicated. With operations in Alaska, Nevada and New Mexico, Silver47 is anchored in America’s most prolific mining jurisdictions.