Drilling Commences To Expand Silver-Rich VMS Deposits At Red Mountain

VANCOUVER - Silver47 Exploration Corp. reported the commencement of a fully-funded drill program at the Red Mountain VMS Project in south-central Alaska.  A core drilling rig is now fully operational at the Red Mountain project in Alaska, actively advancing the first hole of Silver47's 2025 summer exploration program. The program focuses on expanding the inferred 168.6 million silver equivalent ounce resource (336 g/t AgEq*) at Dry Creek and West Tundra Flats, where previous drilling by Silver47 and prior operators indicates significant expansion potential.

The 2025 program targets untested areas near historical high-grade intercepts, prioritizing areas richer in silver and gold to enhance Red Mountain's resource base. Red Mountain hosts five critical minerals scarce in the U.S., including zinc, copper, tin, antimony and gallium, which will be evaluated during this program to support domestic supply chain security.

Gary Thompson, CEO, said, "We are excited to kick off a significant drill program at our Red Mountain silver-gold-rich VMS project with a view to expanding the resource base and making new discoveries. The results from previous drill holes, including DC24-106, WT24-33 and DC18-77, demonstrate the robust nature of the Bonnifield district, where Red Mountain is located, and we are eager to build on these successes. This year is shaping up to be transformational for the Company with a full season of drilling and the pending merger with Summa Silver."