Vancouver, British Columbia--(Newsfile Corp. - July 29, 2026) - BP Silver Corp. (TSXV: BPAG) (OTCQB: BPSCF) ("BP Silver" or the "Company") reports that the first batch of assays from the 2026 sampling program returned significant silver, gold, zinc and/or lead mineralization from newly identified targets at its 100%-owned Cosuño Silver Project ("Cosuño") in Bolivia. The Company believes the strong continuity of surface mineralization as confirmed by these initial samples supports the exploration potential of these new targets (Figure 1). The Company also announces that a second diamond drill rig has been mobilized to accelerate its ongoing 2,000 meter ("m") Phase 2 drill program.

Highlights

• Widespread silver, lead, and zinc mineralization occur across the newly identified target areas within the Jalsuri Target Cluster (Figures 2 & 3).
• 85% of linear chip channel samples ("Channel Samples") were mineralized, returning anomalous precious and base-metal values.
• Results range from 10 to 935 g/t silver, <0.005 to 1.51 g/t gold, 0.10% to 5.65% zinc, and 0.10% to 3.16% lead, defining a near-surface silver-gold-zinc target at Jalsuri North and a silver-lead-zinc target at Jalsuri Northeast (Figure 2 & 3).
• Higher gold values found at Jalsuri North, with the highest sample reporting 1.51 g/t gold collected from a historic mine dump that also contained >10 oz silver.
• Second drill rig mobilized on site to expedite Phase 2 drilling.

Dr. Stewart D. Redwood, Director and Qualified Person, commented, "The surface sampling has returned impressive grades of silver, lead and zinc across most of the sampled structures. These are meaningful grades for surface sampling and demonstrate continuous mineralization over an aggregate strike length of approximately 2,100 m at the newly identified Jalsuri targets. The results indicate that mineralization occurs at surface, highlighting the potential for shallow open-pit mineralization while also supporting the possibility of higher-grade vein systems at depth. The Phase 2 drill program is designed to test the shallow mineralization, and drill holes may be extended beyond their planned depths where significant mineralization is encountered. We also believe these structures extend to depths of several hundred meters into the underlying basement rocks, where they may develop into higher-grade veins similar to those at the neighboring Pulacayo silver mine."

Tim Shearcroft, Founder and CEO, stated, "The key takeaway from these results is that silver mineralization is prevalent across all of the new areas sampled. The consistency of mineralization across these newly identified structures continues to demonstrate the scale of the opportunity at Cosuño. In addition to the widespread silver mineralization, these results also contain meaningful levels of zinc, lead and gold, which we believe will contribute significantly to future silver equivalent values as the project advances."

Detail

The first batch of laboratory results from Cosuño's 2026 sampling program comprises 179 surface chip and Channel Samples, along with 1 mine dump sample, confirming widespread silver, lead and zinc mineralization across the Jalsuri, Jalsuri North, and Jalsuri Northeast target areas (Figure 1). Samples reported in this news release exceed the Company's reporting thresholds of >10 ppm silver, >0.005 ppm gold, >1,000 ppm lead and/or >1,000 ppm zinc.

Figure 1. Cosuño project map showing exploration targets and the location of Phase 1 drill collars as well as current and planned Phase 2 drilling target areas.

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https://images.newsfilecorp.com/files/11890/307060_bp-figure1.jpg

Figure 2. Silver, gold, and lead grades from Channel Samples at Jalsuri, Jalsuri North, and Jalsuri Northeast targets.

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https://images.newsfilecorp.com/files/11890/307060_bp-figure2.jpg

Figure 3. Zinc grades from Channel Samples at Jalsuri, Jalsuri North, and Jalsuri Northeast.

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https://images.newsfilecorp.com/files/11890/307060_bp-figure3.jpg

Silver

• 21% of samples assayed greater than 30 ppm Ag.
• 14% of samples assayed greater than 60 ppm Ag.
• 10% of samples assayed greater than 100 ppm Ag.
• Maximum assay: 935 ppm Ag (30.1 oz/t).

Lead

• 44% of samples assayed greater than 1,000 ppm Pb (0.1%).
• 5% of samples assayed greater than 10,000 ppm Pb (1.0%).
• Maximum assay: 31,600 ppm Pb (3.16%).

Zinc

• 70% of samples assayed greater than 1,000 ppm Zn (0.1%).
• 21% of samples assayed greater than 10,000 ppm Zn (1.0%).
• Maximum assay: 56,500 ppm Zn (5.65%).

Gold

• 5 samples assayed greater than 0.30 g/t Au along the principal structure at Jalsuri North, including a mine dump sample assaying 1.51 g/t Au at the northwest end of the structure.

Jalsuri North Target

Jalsuri North is a newly identified target within the Jalsuri Target Cluster, extending approximately 400 m in length and up to 200 m in width (Figures 1 and 2). The target is comprised of a structurally controlled silver-gold-lead-zinc system that hosts both high-grade polymetallic veins and broad zones of disseminated sulfide mineralization. Three principal mineralized vein structures have been identified to date, including a main vein traced for more than 350 m and two branching veins extending up to 270 m, with extensive silicification, quartz veining, sulfide mineralization, and silver-bearing sulfosalts, together with historical artisanal workings, demonstrating the continuity and strength of the hydrothermal system. The combination of continuous surface mineralization, widespread hydrothermal alteration, disseminated sulfide halos, and multiple mineralized structures highlights Jalsuri North as a high-priority Phase 2 drill target with potential to host both near-surface bulk-tonnage mineralization and higher-grade veins.

Channel sample highlights include:

• 1.10 m @ 935.00 g/t Ag and 0.32 g/t Au.
• Dump Sample @ 327.00 g/t Ag and 1.51 g/t Au.
• 2.0 m @ 219.00 g/t Ag and 0.41 g/t Au.
• 0.70 m @ 5.65% Zn.
• 1.20 m @ 2.80% Zn.
• 2.00 m @ 2.15% Zn.

Jalsuri Northeast Target

Jalsuri Northeast is a newly identified target that has returned significant silver, lead, and zinc values from surface sampling (Figures 2 and 3). The principal target is an east-west striking 1,000 m long breccia/vein structure hosted within altered andesitic volcanic rocks. Mineralization occurs in quartz-barite veins, hydrothermal breccias, silicified fault zones, and broad zones of disseminated sulfides associated with strong silicification and argillic alteration. Numerous artisanal workings developed along the principal mineralized structure demonstrate continuity of mineralization to depth. Hydrothermal breccias and silicified zones along the principal structure locally reach 35 to 40 m in apparent width and contain silver-bearing sulfosalts, galena, sphalerite, and barite. The combination of extensive hydrothermal alteration, broad zones of disseminated sulfide mineralization outboard of the principal structure, and higher-grade silver mineralization within the principal structure highlights the potential for a significant silver-base-metal deposit at surface.

Channel sample highlights include:

• 2.00 m @ 467.00 g/t Ag.
• 1.50 m @ 149.00 g/t Ag.
• 2.00 m @ 3.71% Zn.
• 2.00 m @ 2.96% Zn.
• 61 of 85 samples (72%) returning >1,000 ppm Pb (0.1%).

Reported channel sample intervals are sample lengths and may not represent true widths. The true thickness of the mineralization is unknown at this time.

Phase 2 Drill Program

Cosuño's Phase 2 Drill Program commenced on June 30, 2026, refer to news release dated July 7, 2026 for more information, and the first diamond rig initiated drilling at the Pocañita Chica target. The second diamond drill rig has now been mobilized and will commence drilling at the Jalsuri North and Jalsuri Northeast targets to test the near-surface mineralization potential.

Operating two drill rigs simultaneously will increase exploration efficiency and accelerate the evaluation of multiple high-priority targets as well as advance the Company's understanding of the mineralized system at the Cosuño Project.

The Company will provide regular updates as drilling progresses and assay results become available.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Dr. Stewart D. Redwood, PhD, FIMMM, a Director of the Company and a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. As Dr. Redwood is a director of the Company, he is not independent under National Instrument 43-101. Mineralization at the Pulacayo deposit is not necessarily indicative of mineralization at the Cosuño Project.

QA/QC

The work program was designed and supervised by Gonzalo Lemuz, P.Geo, the Company's Chief Operating Officer, who was responsible for all aspects of the work, including the Quality Assurance and Quality Control (QA/QC) program. On-site personnel at the Project rigorously collect and track samples which are then security sealed and shipped to ALS laboratory in Oruro for sample preparation. The core samples were prepared by ALS at their laboratory in Oruro, Bolivia and the sample pulps were shipped to their laboratory in El Callao, Peru for analysis. ALS is accredited to ISO/IEC 17025:2017 and ISO9001:2015. ALS is independent of BP Silver. Silver and multi-elements were analysed by aqua regia digestion and ICP-MS finish. Gold was analysed by fire assay and AA finish. BPAG inserted certified standard reference materials (CSRM), blanks and duplicates to monitor QAQC. All diamond drill holes were drilled in HQ diameter. The average core recovery was 97.5% for CO-0001 and 95% for CO-0002.

About BP Silver Corp.

BP Silver Corp. is a Canadian exploration company focused on advancing high-grade silver projects in Bolivia. The Company's flagship asset, the Cosuño Project, is strategically located in the prolific Bolivian silver belt, a region with a rich mining history and significant untapped discovery potential. With a strong technical team and a disciplined exploration strategy, BP Silver is positioned to unlock value for its shareholders through the discovery and development of major silver deposits.

Cautionary Statement Regarding Forward-Looking Information:

Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: future prices and the supply of silver and other precious and other metals; future demand for silver and other valuable metals; inability to raise the money necessary to incur the expenditures required to retain and advance the property; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; risks of the mineral exploration industry; delays in obtaining governmental approvals; and failure to obtain necessary regulatory or shareholder approvals. There can be no assurance that such 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 disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Source: BP Silver Corp.