Red Mountain Project

Silver47's flagship polymetallic volcanogenic massive sulphide (VMS) project in the Bonnifield Mining District of Alaska, carrying silver, zinc, lead, gold and copper (with antimony and gallium potential). The project hosts a NI 43-101 inferred mineral resource across two zones, Dry Creek and West Tundra Flats, supported by a technical report by Apex Geoscience Ltd. dated January 12, 2024. The Company acquired a 100% interest in October 2023 from White Rock and subsidiaries for an aggregate $8,048,400 (US$400,000 cash plus $7,500,000 in shares). A total of 213 holes for 38,417 m have been drilled since 1976 by numerous operators, and at least 20 additional mineralized prospects have been identified across roughly 60 km of prospective geology. Recent drilling returned high-grade massive-sulphide intercepts (e.g., 2.48 m of 14.95 g/t Au, 249.50 g/t Ag, 21.97% Zn, 7.03% Pb, 0.42% Cu at Dry Creek). The 2025 program is designed to expand both resource zones down-dip, with metallurgical work planned for antimony and gallium recovery.