Safi Silver Receives Second Quarterly Payment of US $3 Million from Horizon Under Kombat Mine Transaction
FOR IMMEDIATE RELEASE
Safi Silver Receives Second Quarterly Payment of US $3 Million from
Horizon Under Kombat Mine Transaction
TORONTO, ONTARIO, July 6, 2026 – Safi Silver Corp. (TSX-V: SF, OTCPK: PNTZF)
(“Safi Silver” or the “Company”) announced today that it has received the second
scheduled quarterly payment from Horizon Corporation Limited (“Horizon”) pursuant to
the previously announced sale of the Company’s interest in the Kombat Mine in Namibia
(the “Transaction”) (please see the Company’s press release dated December 23, 2025
for further details regarding the Transaction).
The quarterly payment of US $3 million was received on schedule and in accordance with
the terms of the Transaction, representing the second of eight quarterly payments to be
made by Horizon to the Company . The Transaction is expected to provide Safi with a
predictable source of non -dilutive capital while preserving meaningful long -term upside
through the retained royalty and contingent consideration associated with the Kombat
Mine.
"Receiving this second payment on schedule demonstrates Horizon's continued
commitment to the Transaction and further strengthens Safi's financial position,"
commented Jed Richardson, President and Chief Executive Officer of Safi Silver Corp.
"The proceeds allow us to continue advancing our strategy without shareholder dilution
while maintaining exposure to the future success of Kombat. As we continue to execute
our exploration plans in Morocco, we believe Safi is well positioned to create long -term
value for shareholders.”
Dr. Andreas Rompel, Chief Exploration Officer, commented, “ The Addana exploration
program continues to progress well. We are encouraged by the pace of drilling and look
forward to sharing the first analytical results with the market in the coming weeks."
While the Horizon transaction remains an important source of funding, the Company's
exploration activities continue to advance at its flagship Addana Silver Project in Morocco.
Core from the first two drill holes has been submitted to the analytical laboratory for assay,
and drilling is currently underway on the fourth hole of the Company's maiden drill
program. Assay results will be released as they become available.
Safi will continue to provide updates as additional Horizon payments are received and as
exploration milestones are achieved at Addana.
Qualified Person
The scientific and technical information contained in this news release has been reviewed
and approved by Dr. Andreas Rompel, (Pr.Sci.Nat., FSAIMM)., Chief Exploration Officer
of Safi Silver, who is a “Qualified Person” as defined under National Instrument 43 -101
– Standards of Disclosure for Mineral Projects . Dr. Rompel is not considered
independent of the Company
Extension of Warrants
Further to the Company’s press release dated June 30, 2026, the TSX Venture has
approved the extension of the expiry date of 2,500,000 Safi common share purchase
warrants from July 12, 2026 to December 31, 2026.
About Safi Silver
Safi Silver Corp. is a publicly traded Canadian exploration and development company
with a core focus on copper and silver holdings in mining-friendly African jurisdictions. In
Morocco, the Company is advancing two exploration projects: Addana, which hosts
silver-bearing polymetallic veins, and Silver Hill , a sedimentary copper prospect
undergoing ongoing evaluation. In Namibia, Safi Silver holds the Kalahari Copperbelt
Project.
Cautionary Notes
This news release may contain forward -looking statements. These statements include
statements regarding future payments under the Horizon Transaction, the timing of assay
results, the progress of the Addana drill program, and the Company’s future plans and
objectives. These statements are based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results could differ materially because of
factors discussed in the management discussion and analysis section of our interim and
most recent annual financial statements or other reports and filings with the TSX Venture
Exchange and applicable Canadian securities regulations. We do not assume any
obligation to update any forward -looking statements, except as required by applicable
laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information, contact Tom Panoulias, VP Corporate Development:
+1 (647) 276-6002 x 1127
Website: www.safisilver.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jed Richardson
President & CEO