Blende Silver Corp. Private Placement Tranche One Closes

Blende Silver Corp.

804 –750 WEST PENDER STREET

VANCOUVER, B.C. CANADA V6C 2T7

TELEPHONE: 604-682-2928

FAX: 604-685-6905

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Blende Silver Corp. Private Placement

Tranche One Closes

June 8, 2022

Vancouver, BC – Blende Silver Corp. (the “Company”) (TSXV: BAG) announces it has closed

tranche one of a non-brokered private placement announced April 26, 2022. Gross proceeds of

$278,000 has been raised by the issuance of 5,560,000 units (“Unit”) at a price of $0.05 per Unit.

Each Unit is comprised of one common share and one full share purchase warrant (a “Warrant”).

Each Warrant is exercisable to purchase one common share of the Company at a price of $0.10

per share expiring on Ju ne 9, 2026. Commissions of $13,600 and 272,000 finders warrants

exercisable to purchase one common share of the Company at a price of $0.10 per share expiring

on June 9, 2026 were issued in connection with this tranche.

There was I nsiders participation o f $100,000 in the private placement. Thus t he placement

constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9

and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special

Transactions (“MI 61-101”) adopted in the Policy. The Company will rely on exemptions from the

formal valuation and minority shareholder approval requirements of MI 61-101 contained in

sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement

as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the

fair market value of the consideration for, the transaction, insofar as it involved the related parties,

will exceed 25% of the Company’s market capitalization (as determined under MI 61-101).

Proceeds from the private placement will be used to advance the Blende property and for general

working capital.

The private placement is subject to TSX Venture Exchange approval and all securities are subject

to a four month hold period in accordance with the policies of the TSX Venture Exchange.

The Company has been granted a 30 day extension to close this private placement.

TSXV: BAG OTCQB: BAGGF FRA: BCW1

About Blende Silver Corp.

Blende Silver Corp. is a Vancouver -based junior resource company focused on silver -

zinc-lead exploration and development at the company’s flagship Blende Deposit in north-

central Yukon. The 100% owned property is the largest carbonate -hosted Ag -Zn-Pb

deposit in Yukon and one of the largest undeveloped Ag -Zn-Pb deposits in Western

Canada. It is winter-road accessible, 5,345 ha and situated 63 km northeast of Keno Hill,

Yukon. The property has had more th an $9.2M in past exploration ($5.2M by Blende

Silver); including 25,195 meters of drilling in 132 drillholes.

For further information please contact:

Blende Silver Corp.

“Andrew H. Rees”

Andrew H. Rees, Director

Tel: 604-505-3739

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for

securities in the United States. The securities referred to herein have not been and will not be registered

under the Securities Act of 1933, as amended (the “Secur ities Act”), or with any securities regulatory

authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or

indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as suc h term is

defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or

in a transaction not subject to the registration requirements of the Securities Act.

Neither the TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.