First Andes Silver Closes Final Tranche of Private Placement

Core Viewpoint - First Andes Silver Ltd. has successfully closed the final tranche of its non-brokered private placement financing, raising a total of CAD 1,317,000 through the issuance of 13,170,000 units [1][4]. Financing Details - The final tranche involved the issuance of 3,000,000 units at a price of CAD 0.10 per unit, generating gross proceeds of CAD 300,000 [1]. - Each unit consists of one common share and one-half of a share purchase warrant, with each whole warrant exercisable at CAD 0.15 per share for two years [2]. - A finder's fee of CAD 5,600 was paid, and 56,000 share purchase warrants were issued to the finder, each exercisable at CAD 0.10 per share for two years [3]. Use of Proceeds - The proceeds from the offering will be allocated to expanding the current drill program at the Santas Gloria silver property and for general working capital purposes [4]. Company Overview - First Andes Silver Ltd. holds a 100% interest in the Santas Gloria silver property, located 55 km east of Lima, Peru, which features excellent road access and is situated in a well-known mining district [5]. - The property hosts over 12 km of multiphase veins that had not been historically drilled or explored using modern techniques prior to 2024 [5]. - The company's maiden diamond drill program reported high-grade silver across all drilled vein systems, confirming the silver endowment and necessitating high-priority follow-up drilling in 2025 [5].