First Andes Silver Closes Oversubscribed $2 Million Private Placement Financing

Core Viewpoint - First Andes Silver Ltd. has successfully closed a private placement financing, raising approximately C$2 million through the issuance of common shares at C$0.12 each [1]. Financing Details - The company issued a total of 16,708,331 common shares, resulting in aggregate gross proceeds of C$2,004,999.72 [1]. - The common shares are not subject to a hold period in Canada due to the listed issuer financing exemption [2]. - A finder's fee of C$120,790 was paid, and 1,001,583 share purchase warrants were issued, each exercisable at C$0.12 for two years [3]. Use of Proceeds - The net proceeds from the offering will be allocated to: 1. An augmented Q2 2026 drilling program at the Santas Gloria Property 2. Exploration work at the Santas Gloria Property 3. Annual mineral claim payments in Peru 4. 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 has significant exploration potential [6]. - The property features over 12 km of multiphase veins that had not been drilled or explored using modern techniques prior to 2024, with strong near-surface silver intercepts reported in 21 of 26 drill holes [6].