Vancouver, British Columbia--(Newsfile Corp. - July 21, 2026) - Silver47 Exploration (TSXV: AGA) (OTCQX: AAGAF) ("Silver47" or the "Company") is pleased to announce results from a 21-hole auger drill program testing the tailings pile from the historic Belmont mine at the Hughes Project, Tonopah, Nevada (the "Hughes Project").

Key Highlights:

• Mineralization in Every Hole: All 21 auger holes returned silver-gold mineralization continuously from surface to the base of the tailings, over an average thickness of 3.3 m - demonstrating consistent mineralization across the entire impoundment.

• 2.74 Moz AgEq* Resource at Surface: The fine-grained Belmont tailings host an inferred mineral resource of 1.8 Moz silver and 11 koz gold (44 g/t Ag and 0.3 g/t Au, or 68 g/t AgEq*) within approximately 1.26 Mt¹ - a low-disturbance, near-surface silver source on private land.

• Excellent Access on Private Land: The tailings sit on patented mining claims covering approximately 1,200 m by 280 m (84 acres), immediately adjacent to US Highway 6 with established infrastructure nearby.

• Metallurgical Testwork Underway: Modern metallurgical testing is ongoing, including agitated cyanide leach tests at current grind size, regrinding to two finer sizes with kinetic sampling, and CIL testing at the optimal grind to evaluate recovery, carbon loading, and process efficiency.

• Advancing Toward Economic Evaluation: Together with the metallurgical program, these results are expected to provide the recovery and process parameters needed to evaluate the technical and economic feasibility of reprocessing the tailings into potential low-cost domestic silver production.

*Silver Equivalent (AgEq) grade is based on silver and gold prices of $25/oz and $2100/oz respectively, and recoveries for silver and gold of 90% and 97%, AgEq Factor= (Ag Price / Au Price) x (Ag Rec / Au Rec); g AgEq/t = g Ag/t + (g Au/t / AgEq Factor).

Galen McNamara, CEO, stated: "These results give us strong confidence that the Belmont tailings are consistently mineralized across the entire impoundment. With the material situated on private land immediately adjacent to U.S. Highway 6 and a modern metallurgical program now underway, Silver47 is well positioned to determine the recoverability of the contained silver and gold and to assess the potential for a low-disturbance source of domestic silver production."

Figure 1: Location of Auger Holes on the Belmont Tailings

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Table 1: Belmont Tailings Assay Results

NAD27

Silver Equivalent (AgEq) grade is based on silver and gold prices of $25/oz and $2100/oz respectively, and recoveries for silver and gold of 90% and 97%, AgEq Factor= (Ag Price / Au Price) x (Ag Rec / Au Rec); g AgEq/t = g Ag/t + (g Au/t / AgEq Factor).

Auger Hole Program

The 21-hole auger drill program, totalling approximately 68.6 meters, was designed to collect fresh samples from across the entire tailings impoundment. Holes ranged in depth from 1.05 to 5.75 meters and systematically targeted both the western and eastern zones, with many collared within one meter of visible previous holes from 2019-2020 programs for comparative accuracy. Sample collection employed a hand auger, with material recovered directly into sealed, labelled 2-gallon buckets for shallower holes (≤2 meters) or 5-gallon buckets for deeper ones, requiring tamping to fit; all featured locking lids and internal flagging for secure transport. This effort provides comprehensive coverage of the inferred mineral resource¹, supporting a modern assessment of silver and gold distribution.

An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. It is reasonably expected that the majority of inferred mineral resources could be upgraded with continued exploration; however, there is no certainty that this will occur.

Holes were drilled at a vertical orientation and at approximate spacings of 100 to 150 m between holes. Samples were collected at systematic intervals which ranged from 0.25 to 1 m. Each hole was sampled from top to bottom. Holes were terminated at the bottom of the tailings pile as indicated by the presence of ground soil or bedrock.

Head assay results (Table 1) demonstrate silver and gold values consistent with the inferred mineral resource¹ and enables systematic assessment of silver and gold distribution across the tailings impoundment. Results from ongoing metallurgical test work, which includes agitated cyanide leach tests at current grind size, regrinding to two finer sizes with kinetic sampling, and CIL testing at the optimal grind to evaluate recovery, carbon loading, and process efficiency will inform feasibility for low-impact reprocessing on the Company's patented private land.

Analytical and QA/QC Procedures

Samples were sent to Florin Analytical Laboratories ("Florin") in Reno, Nevada (part of Kappes, Cassiday & Associates (KCA) laboratory facilities) for preparation and analysis. Florin is independent of the Company. Samples were dried, crushed and pulverized using standard preparation procedures. Samples were analysed for gold via a 30 gram fire assays with an AAS (Atomic Absorption Spectroscopy) finish (Lab Code 4008). Samples were analysed for silver following a 4-acid digestion with an AAS (Atomic Absorption Spectroscopy) finish (Lab Code 7048). Florin inserts certified standards into the analytical stream. The standards used by Florin are considered appropriate and the results are acceptable.

References

1. Bourque S and Bickell J (2025). Technical Report and Mineral Resource Estimate for the Hughes Silver-Gold Property, Tonopah District, Nye County, Nevada. 43-101 Technical Report available at www.sedarplus.ca (the "Technical Report") with an effective date of October 22, 2024. The information contained herein in respect of inferred mineral resources in the Hughes Property is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full text of the Technical Report.

Qualified Person

The technical and scientific content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a "qualified person" as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects.

About Silver47 Exploration

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 Exploration is anchored in America's most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Reports and other filings available on SEDAR+ (www.sedarplus.ca). The Company trades on the TSXV under the ticker symbol AGA and OTCQX under the ticker symbol AAGAF.

For more information about the Company, please visit silver-47.com and see the Technical Reports filed on SEDAR+ (www.sedarplus.ca).

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On Behalf of the Board of Directors

Mr. Galen McNamara
CEO & Director

No securities regulatory authority has either approved or disapproved of the contents of this release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "may", "will", "expect", "intend", "believe", "anticipate", "estimate", "target", "plan", "potential", "could" or similar terminology. Forward-looking statements in this release include, without limitation the results from work performed to date; the estimation of mineral resources; the realization of mineral resource estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of the Company's mineral properties and project portfolios, including but not limited to the current and proposed drilling programs referenced herein, including the timing, scope and execution thereof; exploration expenditures, costs and timing of the development of new deposits costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.

Forward-looking statements are based on management's current beliefs, expectations and assumptions, including, without limitation: that historical information is reliable; that future exploration activities will proceed as currently anticipated; that permits, equipment, personnel and contractors will be available on commercially reasonable terms; and that current commodity prices, labour availability, cost and regulatory frameworks will remain consistent with management's expectations. Although management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: the risk that historical data may prove to be inaccurate or unverifiable; that exploration results may not support further work or drilling; that exploration activities may be delayed, restricted or not carried out as planned; that permits may be delayed or revoked; the absence of adverse conditions at mineral properties; the price of silver and other metals remaining at levels that render mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on any mineral resource and reserve estimates; the Company's ability to complete its planned exploration programs; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the business objectives of the Company; whether economic mineralization can be defined and, if it can be permitted for development; the uncertainty that any mineralization encountered on adjacent properties continues on to any of the Company's properties; the uncertainty that geological and/or geophysical and/or any trends, interpretations, or conclusions related to adjacent properties have relevance to any of the Company's properties; the uncertainty that the exploration season can be extended; changes in project parameters as plans to continue to be refined; the consequences and implications of the historical mining activities on the environment and whether such affects the potential exploration and/or development of any mining operation the Company's properties; the implications of claims from First Nations, Tribes, Tribal Councils, Tribal Governments, Alaska Native Corporations, Alaska Native Regional or Village Corporations and land claims settlements on the Company's projects; accidents, labour disputes and other risks of the mining industry, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; future prices of metals; possible variations of mineral grade or recovery rates; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; title to properties; operational, technical and geological risks inherent in mineral exploration; changes in capital markets, economic conditions, regulatory developments and stakeholder relations; the other risks set out in the Company's public disclosure record under its profile on SEDAR+ (www.sedarplus.ca) and management's ability to anticipate and manage the foregoing risks and uncertainties.

The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, other than as required by law.

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Source: Silver47 Exploration Corp.