Silver Wolf Completes Acquisition of the Ana Maria Project
SWLF: TSX.V
Silver Wolf Exploration Ltd. T (604) 682 3701
Suite 900-570 Granville Street F (604) 682 3600
Vancouver, BC V6C 3P1 www.silverwolfexploration.com
December 16, 2025
SILVER WOLF COMPLETES ACQUISITION OF THE ANA MARIA PROJECT
Silver Wolf Exploration Ltd. (TSX.V:SWLF; OTCQB:SWLFF) (“Silver Wolf” or the “ Company”) is pleased to announce that it
has issued to Avino Silver & Gold Mines Ltd. (“Avino”) 2,000,000 common shares of the Company at a deemed price of C$0.20
per common share for an aggregate value of C$400,000, thereby complet ing all expenditure and option payment
requirements to acquire a 100% interest in the Ana Maria and El Laberinto properties in Mexico pursuant to the terms of the
option agreement with Avino dated August 12, 2020, as amended on October 8, 2020 (the “ Option Agreement ”, and
collectively, the “Transaction”).
Under the terms of the Option Agreement, the Company completed, in aggregate, the following requirements:
• Issued to Avino a total of C$600,000 worth of common shares of the Company, satisfied by the issuance of 3,181,718
common shares at deemed price of C$0.20
• Incurred over C$750,000 in exploration expenditures on the properties.
The closing of the Transaction is subject to customary closing conditions in Mexico for transactions of this nature .
“Reaching this milestone ahead of schedule demonstrates our full commitment to advancing the Ana Maria project ”, said
Peter Latta, President of Silver Wolf Exploration Ltd. “ Full ownership of the project, combined with the recently completed
and upsized private placement to fully fund the upcoming drill program, positions Silver Wolf and its shareholders for an
exciting 2026. We have made significant advances in understanding the geology at Ana Maria and continue to work towards
making a discovery. In addition, I would like to thank Avino for its ongoing support as an anchor shareholder and supporter of
what Silver Wolf is looking to accomplish, and to emphasize the meaningful synergies that come from the companies working
closely together in pursuit of a new discovery.”
VRIFY & Artificial Intelligence (“AI”) Targeting Update
To advance the next phase of the project, Silver Wolf has partnered with VRIFY to deploy their exploration intelligence
software for prospectivity mapping and targeting using AI. The software will help optimize Silver Wolf’s upcoming 3000m,
13-hole program , while also identifying additional areas of potential mineralization and enabling the team to test future
geological hypotheses.
Avino Early Warning Disclosure for Transaction and Private Placement
Avino acquired 2,000,000 common shares under the Transaction. Immediately prior to the Transaction, Avino had beneficial
ownership of 9,307,052 common shares, representing approximately 15.47% of the issued and outstanding common shares
of Silver Wolf on a non -diluted basis, and 2,916,677 warrants exercisable for 2,916,677 common shares . Assuming the full
exercise of such 2,916,677 warrants, the Company would have had beneficial ownership, control and direction over an
aggregate of 12,223,729 common shares, representing approximately 19.37% of the issued and outstanding common shares
of Silver Wolf that would then be outstanding on a partially- diluted basis. Immediately after the Transaction , Avino had
beneficial ownership of 11,307,052 common shares , representing approximately 1 8.19% of the issued and outstanding
common shares on a non-diluted basis, and 2,916,677 warrants exercisable for 2,916,677 common shares. Assuming the full
exercise of such 2,916,677 warrants, the Company would have beneficial ownership, control and direction over an aggregate
of 14,223,729 common shares, representing approximately 21. 85% of the issued and outstanding common shares of Silver
Wolf that would then be outstanding on a partially-diluted basis. All of the warrants held by Avino are subject to a contractual
limitation on the exercise, such that no warrants may be exercised by Avino if such exercise would result in Avino holding
more than 19.99% of the issued and outstanding common shares of Silver Wolf.
News Release
News Release – December 16, 2025
Silver Wolf Completes Acquisition of the Ana Maria Project
Page 2
Further to Silver Wolf’s news release dated November 25, 2025 announcing the completion of its C$2.125 million private
placement (the “Private Placement”) and Avino’s acquisition of 5,000,000 units of Silver Wolf at a price of C$0.15 per unit
for an aggregate subscription price of C$750,000 under the Private Placement, Avino wishes to amend and restate its previous
early warning disclosure with respect to its interests in Silver Wolf before and after the completion of the Private Placement.
Prior to the Private Placement, the Company held 4,307,052 common shares of Silver Wolf, representing approximately 9.36%
of Silver Wolf’s issued and outstanding common shares on a non diluted basis, and 416,677 warrants exercisable for 416,677
common shares. Assuming the full exercise of such 416,677 warrants, the Company would have had beneficial ownership,
control and direction over an aggregate of 4,723,729 common shares, represent ing approximately 10.17% of the issued and
outstanding common shares of Silver Wolf that would have then been outstanding on a partially- diluted basis. Following the
completion of the Private Placement and the purchase by the Company of 5,000,000 units the reunder, the Company ha d
beneficial ownership, control and direction over an aggregate of 9,307,052 common shares, representing approximately
15.47% of the issued and outstanding common shares of Silver Wolf on a non- diluted basis, and 2,916,677 warrants
exercisable for 2,916,677 common shares. Assuming the full exercise of such 2,916,677 warrants, the Company would have
had beneficial ownership, control and direction over an aggregate of 12,223,729 common shares, representing approximately
19.37% of the issued and outstanding common shares of Silver Wolf that would then be outstanding on a partially- diluted
basis.
Avino acquired these securities for investment purposes and intends to review its investment in Silver Wolf on a continuing
basis. Depending upon a number of factors including market and other conditions, Avino may from time to time increase or
decrease its beneficial ownership, control, direction or economic exposure over securities of Silver Wolf . Avino is a
corporation existing under the laws of British Columbia with its head office at 900 – 570 Granville St. Vancouver, BC V6C 3P1,
Canada.
This disclosure is being provided by Avino concurrently with the filing of an early warning report (the “Early Warning Report”)
pursuant to the requirements of National Instrument 62 -103 - The Early Warning System and Related Take- Over Bid and
Insider Reporting Issues . The Early Warning Report will be electronically filed with the applicable securities commission in
each jurisdiction where Silver Wolf is reporting and will be available under the profile of Silver Wolf and the Company on
SEDAR+ at www.sedarplus.ca. For further information or to obtain a copy of the Early Warning Report, please contact Avino
at:
Jennifer North, Head of Investor Relations
Tel: 604-682-3701
Email: [email protected]
Avino Silver & Gold Mines Ltd.
Suite 900 570 Granville Street
Vancouver, BC
Canada, V6C 3P1
Phone: +1 (604) 682-3701
Fax: +1 (604) 682-3600
About Silver Wolf
Silver Wolf is an exploration company focused on exploring high potential projects in prime silver and gold regions of Mexico
including the Ana Maria and El Laberinto properties. The Ana Maria claims are located 21 kilometres (km) northwest of the
City of Gómez Palacio and the adjacent City of Torreón. The property consists of 2,549 hectares (ha). The claims are located
in a well-known area that is prolific for carbonate replacement deposits (CRDs) in the vicinity of many active or historic mining
operations. The Company has operational synergies with Avino Silver & Gold Mines Ltd. and shares many years of combined
experience in exploration, development and production. In addition, Silver Wolf has an experienced geological field team
who have worked on similar projects with a demonstrated understanding of the jurisdiction and local communities. Connect
with us on X (formerly Twitter) @SWLFexploration and on LinkedIn at Silver Wolf Exploration Ltd.
For further information please contact Silver Wolf Exploration Ltd. at (604) 682 -3701 or visit our website at
www.silverwolfexploration.com.
News Release – December 16, 2025
Silver Wolf Completes Acquisition of the Ana Maria Project
Page 3
ON BEHALF OF THE BOARD
"Peter Latta"
_________________________________
Peter Latta
President
Cautionary Note
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements
in this news release includes, but is not limited to: disclosure regarding the Transaction and the anticipated closing thereof , including the satisfaction of
customary closing conditions and the receipt of all required regulatory and stock exchange approvals therefor, the anticipated timing of closing (if any), the
Company’s anticipated exploration plans and operations, and the anticipated benefits of the Transaction or its exploration plans. Forward-looking statements
relate to information that is based on numerous assumptions and involve known and unknown risks, uncertainties and other factors, including risks inherent
in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from
any projected future results, performance, or achievements expressed or implied by such forward -looking statements. Such factors include, but are not
limited to general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals;
and the uncertainties surrounding the mineral exploration industry. Such information contained herein represents management’s best judgment as of the
date based on information currently available. The Company does not assume an obligation to update any forward-looking statement except as required by
applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.