First Andes Silver Provides Corporate Update

FIRST ANDES SILVER PROVIDES CORPORATE UPDATE

Vancouver, British Columbia, December 31, 2024 – FIRST ANDES SILVER LTD . (TSXV: FAS; OTC Markets:

MSLVF; FSE: 9TZ) (the “Company” or “First Andes”) announces that Jacob Garland has resigned as Chief

Executive Officer and a director of the Company for personal reasons. The Company wishes to thank to

Mr. Garland for his services as an officer of the Company while the Company carried out its successful

exploration campaign on the Santas Gloria Silver Pr operty. The Company is currently seeking out a new

Chief Executive Officer and will advise its shareholders once one is appointed.

The Company also announces that it has terminated its previously announced private placement offering

of up to 12,500,000 units at a price of $0.08 per unit for gross process of up to $1,000,000 due to market

conditions.

About First Andes Silver Ltd.

First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high -grade Santas

Gloria silver property, located in Peru.

For more information please contact:

Matt Anderson

Phone: (604) 806-0626

E-mail: [email protected]

Forward-Looking Statements

Information set forth in this news release contains forward -looking statements that are based on

assumptions as of the date of this news release. 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 inhe rently 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: risks and uncertainties relating to Company’s limited

operating history, ability to obtain sufficient financing to carry out its exploration programs and the need

to comply with environmental and governmental regulations. Accordingly, actual and future events,

conditions and results may differ materially from the estimates, beliefs, intentions and expectations

expressed or implied in the forward -looking information. Except as required under applicable securities

legislation, the Company undertakes no obligation to publicly update or revise forward -looking

information.

The forward-looking statements contained in this news release are made as of the date of this news

release. Except as required by law, the Company disclaims any intention and assumes no obligation to

update or revise any forward-looking statements, whether as a result of new information, future events

or otherwise.

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

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