Silver47 Reports New High-Grade Rock Sample Results from the Expanded Kennedy Gold-Silver Project, Nevada

Vancouver, British Columbia--(Newsfile Corp. - May 7, 2026) - Silver47 Exploration Corp. (TSXV: AGA) (OTCQX: AAGAF) ("Silver47" or the "Company") is pleased to report the results of a comprehensive rock sampling and geological mapping program at its wholly owned high-grade Kennedy gold-silver Project in Nevada (the "Kennedy Project"). Results continue to demonstrate strong prospectivity for high-grade gold and silver mineralization across the under-explored project.

Highlights:

• High-Grade Results:
  

  • 38.7 g/t Au and 1,713 g/t Ag from the Borlasca Vein

  • 9.7 g/t Au and 1,351 g/t Ag from the Danneburg Vein

  • 7.1 g/t Au and 1,566 g/t Ag from the Wallace Vein

  • 32.2 g/t Au from the Lamberson Vein

• Widespread Gold & Silver Mineralization: This sampling program covered the recently expanded 6,150-acre project area highlighting broad areas of gold-silver mineralization, largely untested by modern exploration.

• Shallow High-Grade Vein field: Kennedy hosts a ~15 km network of near-surface, high-grade veins that remain mostly unexplored, offering strong potential for significant new discoveries.

• Disseminated Gold Opportunity: Mapping has identified several new areas prospective for intrusion-related, bulk-tonnage disseminated gold mineralization marked by strong alteration and pathfinder geochemistry.

• Accelerated Exploration: A multidisciplinary program including ground geophysics and soil-geochemistry is underway to further pinpoint high-priority drill targets.

• Hughes Project Drill Program Update: Drilling at the Ruby Target has progressed with four RC pre-collars and one core tail complete with one in progress, representing <20% of the meters drilled of the planned program. Both core holes intersected multimeter-scale quartz-calcite veining and breccias with locally visible silver-sulfide mineralization on the eastern extension of the Tonopah Mining District.

Galen McNamara, CEO, stated: "We are extremely encouraged by these latest high-grade rock sample results from the Kennedy Project, which continue to validate our belief that this is a highly prospective and underexplored asset. The presence of such strong grades at surface reinforces the potential for a robust mineralized system at depth. Our team is eager to build on this momentum as we advance systematic exploration and unlock what we believe could be significant value for our shareholders."

Figure 1: Map showing compiled and new rock sample locations and assay data

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Investigating Widespread High-Grade Gold-Silver Mineralization

A systematic geological mapping and rock sampling program was recently completed by Born Again Prospector, LLC on unpatented mining claims of the recently expanded Kennedy Project, 70 km south of Winnemucca, Nevada (see April 20^th, 2026 News Release). The purpose of the mapping program was to investigate the geological setting for widespread gold-silver-base metal mineralization across the project area. Results from the mapping will form the framework for target refinement and continued exploration.

Geological mapping identified 13 key lithological units across the project which are distinguished based on age and structural relationships. Ordovician to Permian stratigraphy of the Pumpernickel Formation comprises intermediate volcanics, volcaniclastic rocks and limestones. These rocks are overlain by Triassic aged rhyolite of the Koipato Formation and collectively are intruded by Oligocene aged gabbros, diorites, granites and rhyolite porphyries. The entire package has been structurally deformed with project-scale brittle faulting and zones of ductile deformation. Vein-hosted, high-grade gold-silver mineralization with associated strong clay-silica alteration is commonly observed in large, km-scale, north-west trending brittle structures that crosscut primarily Triassic intrusive rocks (e.g., Cricket, Imperial and Fourth of July trends, Figure 1). To the south, in older Pumpernickel Formation supracrustal rocks (e.g., near the Lamberson target and proximal to Gold Note and Borlasca targets), gold-mineralization locally lacks apparent structural controls and may represent compelling disseminated gold targets.

As part of the geological mapping program, areas of historic surface workings (e.g., blast pits and mine dumps) as well as outcrop, subcrop and float were sampled. In total, 70 new rock samples were collected. Highlights from recent sampling include:

• Cricket-Accident Trend - The Cricket-Accident trend is centered approximately 2.2 km northeast of the Gold Note mine (Figure 1). The vein-system is hosted within diorite of the Oligocene intrusive complex near and consists of brecciated and drusy quartz veins and veinlets. Previous sampling along the northwest trending vein-system returned up to 39.4 g/t Au and 370 g/t Ag (see September 4^th, 2025 News Release). Recent sampling north of the Cricket Vein towards the historic Wall Street Mine returned up to 5.2 g/t Au and 163 g/t Ag and demonstrates the mineralization potential along the highly prospective and open 1.2 km extended Cricket-Accident trend. This trend represents a priority target for continued advancement.

• Wallace - The recently defined Wallace target, located 2.7 km northeast of the Gold Note mine, consists of a well-defined vein system that strikes parallel to the Cricket-Accident trend, hosted in the same intrusive phases and has been traced for over 500 m. Sampling along the vein system returned up to 1,566 g/t Ag and 7.06 g/t Au. This vein-system represents a priority target area for further mapping and sampling.

• Lamberson - The Lamberson target is centered on the historic Lamberson Mine, 1.3 km south of the Gold Note mine (Figure 1). The target includes widespread zones of intense pyrite and propylitic alteration exposed along the Lamberson Canyon in Pumpernickel Formation andesites and granites of the Oligocene intrusive complex. This broad zone of alteration with anomalous pathfinder elements (e.g., Mo, Te) and locally high-grade Au (e.g., 32.2 g/t Au at the Lamberson Mine) suggest a compelling bulk-tonnage disseminated target punctuated with local high-grade veins. This area represents a priority target for further exploration including soil geochemistry and induced polarization (IP) geophysics.

Summary and Next Steps

The presence of strongly anomalous antimony (up to 0.86% Sb), arsenic, tellurium, molybdenum and bismuth associated with gold, silver and base-metal (Cu, Zn, Pb) mineralization may suggest an intrusion-related gold model for the majority of the mineralized corridor. These targets consist of extensive high-grade gold-silver-base metal veins (e.g., Cricket, Imperial and Fourth of July trends, Figure 1) and breccias and bulk tonnage disseminated and/or stock-work hosted gold-silver mineralization (e.g., Lamberson target, Figure 1).

Grid-based soil geochemical surveying has commenced with up to 3,000 samples planned on 100 m spaced survey lines designed to cover the main mineralized corridors defined in recent mapping. Results from the geochemical survey will inform project-scale geochemical zoning, vectoring and target prioritization. Follow-up induced polarization (IP) geophysical surveying may commence after the soil survey.

Analytical Assurance and Quality Control Procedures

Select samples were sent to Paragon Geochemical Laboratories in Sparks, Nevada for preparation and analysis. Paragon meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Samples were analyzed for gold via fire assay with an MS finish ("AU-FA30"), and for silver via inductively coupled plasma, mass spectroscopy (ICP-MS) after four-acid digestion ("48MA-MS"). Samples assaying over 8 ppm Au were re-run via fire assay for Au with a gravimetric finish ("AU-GR30"). Samples that assayed over 100 ppm Ag (0.01%), 1,000 ppm Cu (1%), and Pb (1%) were re-run via inductively coupled plasma optical emission spectroscopy ("OLMA-OES"). Paragon inserts reference standards, duplicates, and blank samples in each batch of samples with standard internal QA-QC procedures, which all returned results within acceptable levels. Paragon Geochemical Laboratories is independent of the Company.

Table 1. Sampling Program Results

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO and a director of the Company, who is recognized as a Qualified Person under the guidelines of 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 Report and other filings available on SEDAR at 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 Report filed on SEDAR+ (www.sedarplus.ca) and titled "Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX Geoscience Ltd."

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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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "upon" "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to: the Company's exploration and development activities and plans. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the Company's ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and the additional risks identified in the Company's financial statements and the accompanying management's discussion and analysis and other public disclosures recently filed under its issuer profile on SEDAR+ and other reports and filings with the TSXV and applicable Canadian securities regulators. The forward-looking information are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws.

No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

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Source: Silver47 Exploration Corp.