Silver47 confirms 2.74 Moz Ag-equivalent tailings resource at Hughes, Nevada

All 21 Holes Mineralized from Top to Bottom; Tailings on Private Property and Adjacent to US Highway 6 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 Mt 1 - 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 reco