Tier One Silver Advances Ruta de Cobre Transaction and Revises Financing

Tier One Silver Advances Ruta de Cobre

Transaction and Revises Financing

Vancouver, British Columbia--(Newsfile Corp. - September 24, 2026) -

Tier One Silver Inc. (TSXV:

TSLV) (OTCQB: TSLVF) (FSE: TOV0)

("

Tier One

" or the "

Company

") announces that further to the

Company's news release dated August 13, 2026, the Company, in consultation with 3L Capital Inc., as

lead agent and on behalf of a syndicate of agents (collectively, the "

Agents

") including Ventum Financial

Corp is amending the size of its unit financing (the "

Offering

") to minimum gross proceeds of C$7.4

million and a maximum of C$9.0 million, subject to the Over-Allotment Option. The Over-Allotment Option

has been amended to grant the Agents the option to offer for sale up to an additional C$4.5 million worth

of units at a price of C$0.07 per unit, being the same issue price as the units sold under the Offering,

exercisable in whole or in part, at any time until 48 hours prior to the closing of the Offering. In the event

that the Over-Allotment Option is exercised in full, the maximum size of the Offering would be C$13.5

million.

The Offering will otherwise proceed on the same terms as previously disclosed. The closing of the

Offering is interdependent upon the concurrent execution of the agreement to conditionally acquire 70%

of the shares of Compañía Minera Ruta de Cobre S.A. ("

CMRDC

"). The Company's June 30, 2026

news release describes the proposed agreement to acquire 70% of the outstanding CMRDC common

shares, completion of which is now targeted for October 8, 2026.

The Company plans to use US$1.8 million of the net proceeds of the Offering to fund the initial purchase

payment requirements of the CMRDC transaction. Remaining net proceeds of the financing are to be

used to establish local Ecuadoran exploration operations, commence selective re-logging sections of

the 136 thousand meters of drill core to confirm validity of the data set, maintain the corporate status of

CMRDC and its mineral concessions that constitute the CMRDC project in good standing, and cover

general corporate costs for six (6) months. Additionally, proceeds will be used towards legal activities

targeted at both converting the legal status of CMRDC project's mineral concessions to the small miner

category, which is expected to extend their term and reduce holding costs, as well the legal costs of

applying to lift the voluntary force majeure status on the CMRDC project which CMRDC requested in

2022.

The CMRDC copper-molybdenum project is one of South America's largest greenfield mineral projects.

Tier One believes that the CMRDC project stands to benefit from a recent regulatory change in Ecuador

that is favourable to mineral exploration. On June 24, 2026, Ecuador's Agencia de Regulación y Control

Minero ("

ARCOM

") exempted qualifying exploration-stage concessions from the annual Mining

Supervision and Control Fee, which immediately reduced the holding costs associated with the CMRDC

project.

The CMRDC conditional share purchase agreement currently remains subject to settlement of a final

definitive agreement and, both the CMRDC transaction and the Offering remain subject to customary

closing conditions including receipt of subscription agreements, professional opinions and final TSX

Venture Exchange approval (as conditional TSXV approval has already been provided).

The offered securities have not been, and will not be, registered under the U.S. Securities Act of 1933,

as amended, and may not be offered or sold in the United States absent registration or an applicable

exemption from the registration requirements. This press release shall not constitute an offer to sell or

the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such

offer, solicitation or sale would be unlawful.

ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.

Peter Dembicki

President, CEO and Director

For further information on Tier One Silver Inc., please contact the Company at (778) 729-0700 or visit the

Company's website:

www.tieronesilver.com

.

About Tier One Silver Inc.

Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders

through the discovery of world-class silver, gold and base metal deposits in South America. The

Company's management and technical teams have a strong track record in raising capital, discovery

and monetization of exploration success. With the closing of the CMRDC conditional share purchase,

the Company's exploration assets will include Ruta de Cobre, which will now be the Company's flagship

project, and its Peruvian high grade Curibaya. For more information, visit

www.tieronesilver.com

.

Forward-Looking Information and General Cautionary Language

This news release contains forward-looking statements and forward-looking information within the

meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the

Company's current expectations and views of future events. Forward-looking statements are not

historical facts and therefore may involve assumptions and uncertainties which could cause actual results

or outcomes to differ materially from those expressed in such forward-looking statements. No assurance

can be given that these expectations will prove to be correct and such forward-looking statements

included in this news release should not be heavily relied upon. These statements speak only as of the

date of this news release. In particular and without limitation, this news release contains forward-looking

statements in regard to the Offering including the likelihood of success, completion timing, amount and

use of proceeds, as well as the likelihood of execution and concurrent closing of the CMRDC transaction

and fulfilling all closing conditions for both.

Readers should refer to the risks discussed in the Company's continuous disclosure filings with the

Canadian Securities Administrators available at

www.sedarplus.ca

.

Neither the 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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN

THE UNITED STATES

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/315986