BP SILVER COMPLETES PHASE 1 DRILLING AT COSUÑO SILVER PROJECT First Assay Results to be Released in Early January 2026
BP SILVER COMPLETES PHASE 1 DRILLING AT COSUÑO SILVER
PROJECT
First Assay Results to be Released in Early January 2026
Vancouver, British Columbia – (December 17, 2025) – BP Silver Corp. (TSXV: BPAG)
(“BP Silver” or the “Company”) reports the successful completion of its Phase 1 diamond
drilling program at the Cosuño Silver Project (“Cosuño”), located in the Department of Potosí,
Bolivia. This program represents the Company’s first drill campaign at Cosuño since its listing
on the TSX Venture Exchange in September 2025.
A total of eleven diamond drill holes totaling 906 meters were completed, testing four high-
priority targets (Figure 1). Samples from the first two drill holes have been submitted to an
independent geochemical laboratory for analysis. Final core logging, sample preparation, and
shipment of the remaining samples will be completed prior to the conclusion of the program later
in December, with initial assay results expected in early January 2026.
“We are very pleased to have completed our inaugural Phase 1 drill program at Cosuño,” stated
Tim Shearcroft, CEO of BP Silver Corp. “The program was executed safely, efficiently and on
schedule, despite an exceptionally tight timeline following our TSX Venture Exchange listing on
September 29th. This achievement underscores the strong execution capabilities and commitment
of our hardworking team.”
Mr. Shearcroft added, “We would also like to express our sincere appreciation to the Thola
Pampa community for their support throughout the program. We enjoyed the Christmas
celebration with them on December 15th, and we recognize that strong community partnerships
are fundamental to the long-term success of any project. The first assay results will be released
in early January, and we look forward to sharing these results with our shareholders.”
Figure 1. Cosuño Silver Project - target and drillhole location map.
Cosuño Drill Program Overview
The Phase 1 program tested four high priority targets defined by structurally controlled,
outcropping geochemically anomalous to highly anomalous silver-rich polymetallic zones
characterized by silicification, intermediate to advanced argillic alteration, sulfides and
brecciation —features typical of many significant Bolivian silver deposits. These targets occur
within a large ~10.5 km² hydrothermal alteration system as defined by detailed mapping,
geochemical sampling and remote sensing alteration studies.
Figures and additional geological background from the initial program can be found in the
Company’s October 21, 2025, and November 14, 2025, news releases.
Amended Share Purchase Agreement Closed
Further to BP Silver’s news release dated November 14, 2025, the Company confirms that the
amended share purchase agreement (SPA) with the Vendor of the Cosuño Project has now
closed. As previously disclosed, the amendment extends certain payment obligations relating to
BP Silver’s acquisition of the remaining 48% interest in Emisur Minera S.A., the Bolivian entity
that holds title to the Cosuño Project.
In consideration for the extension, BP Silver has issued 750,000 common share purchase
warrants to the vendor at a price of $0.42. The warrants are subject to restrictions on resale for a
period of four months from the date of issue in accordance with Canadian securities laws.
Share-for-Debt Transaction Closed
BP Silver also confirms that it has closed shares for debt settlement as previously announced in a
news release dated November 14, 2025. The Company issued 89,285 common shares at a
deemed price of $0.42 per share to settle CAD $37,500 of outstanding indebtedness. These
shares are subject to restrictions on resale for a period of four months from the date of issue in
accordance with Canadian securities laws. The creditor involved in the settlement is an arm’s-
length party to the Company.
The issuance of the shares and warrants were subject to acceptance of the TSX Venture
Exchange.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Dr.
Stewart D. Redwood, PhD, FIMMM, a Director of the Company and a Qualified Person as defined
under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The work program is designed and supervised by Gonzalo Lemuz, P.Geo, the Company's Chief
Operating Officer, who is responsible for all aspects of the work, including the quality assurance
/ quality control (QA/QC) program. On-site personnel at the Project rigorously collect and track
samples which are then security sealed and shipped to ALS laboratory in Oruro for sample
preparation and then shipped to their Lima laboratory for assay. Duplicate samples, blanks, and
certified standard reference materials (CSRM or standards) are added by the Company to each
batch of samples.
About BP Silver Corp.
BP Silver Corp. is a Canadian exploration company focused on advancing high -grade silver
projects in Bolivia. The Company’s flagship asset, the Cosuño Project, is strategically located in
the prolific Bolivian silver belt, a region with a rich mining histo ry and significant untapped
discovery potential. With a strong technical team and a disciplined exploration strategy, BP Silver
is positioned to unlock value for its shareholders through the discovery and development of major
silver deposits.
For further information please contact:
Tim Shearcroft, Chief Executive Officer
604-307-7032
Cautionary Statement Regarding Forward Looking Information:
Information set forth in this news release contains forward -looking statements. These statements
reflect management's current estimates, beliefs, intentions and expectations; they are not
guarantees of future performance. The Company cautions that all forward-looking statements are
inherently uncertain and that actual performance may be affected by a number of material factors,
many of which are beyond the Company's control. Such factors include, among other things: future
prices and the supply of silver and other precious and other metals; future demand for silver and
other valuable metals; inability to raise the money necessary to incur the expenditures required to
retain and advance the property; environmental liabilities (known and unknown); general business,
economic, competitive, political and social uncertain ties; results of exploration programs; risks
of the mineral exploration industry; delays in obtaining governmental approvals; and failure to
obtain necessary regulatory or shareholder appr ovals. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance
on forward-looking statements. The Company disclaims any intention or obligation to update or
revise any forward -looking statements, whether as a result of new information, future events or
otherwise, except as required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.