Eric Sprott Announces Securities of Summa Silver Corp.

Exchanged for Securities of Silver47 Exploration Corp. Pursuant to the Plan of Arrangement

Eric Sprott announces that, on August 1, 2025, 2176423 Ontario Ltd. (a corporation beneficially owned by him) acquired 10,383,434 common shares of Silver47 Exploration Corp., (Silver47 Shares) and 1,525,000 Silver47 Share purchase warrants (Silver47 Warrants) upon the closing a statutory plan of arrangement (Arrangement), pursuant to which Silver47 Exploration acquired all the outstanding common shares of Summa Silver Corp (Summa Silver Shares). Pursuant to the Arrangement, among other things, holders of Summa Silver Shares received 0.452 of a Silver47 Share for every Summa Silver Share they held. Mr. Sprott now beneficially owns over 10% of the outstanding Silver47 Shares.

Summa Silver holdings: Prior to the Arrangement, Mr. Sprott beneficially owned 22,972,200 Summa Silver Shares and 3,375,000 Summa Silver Share purchase warrants, representing approximately 15.3% of the outstanding Summa Silver Shares on a non-diluted basis, and approximately 17.2% on a partially diluted basis assuming exercise of such warrants. As a result of the Arrangement, Mr. Sprott no longer holds any securities of Summa Silver, and Mr. Sprott (as well as 2176423 Ontario Ltd.) ceased to be insiders of Summa Silver.

Silver47 Exploration holdings: Prior to the Arrangement, Mr. Sprott beneficially owned 5,500,000 Silver47 Shares and 750,000 Silver47 Warrants, representing approximately 7.8% of the outstanding Silver47 Shares on a non-diluted basis, and approximately 8.8% on a partially diluted basis assuming exercise of such warrants. As a result of the Arrangement, Mr. Sprott now beneficially owns 15,883,424 Silver47 Shares and 2,275,000 Silver 47 Warrants representing approximately 11.5% of the outstanding Silver47 Shares on a non-diluted basis, and approximately 12.9% on a partially diluted basis assuming exercise of such warrants

Mr. Sprott has a long-term view of the investment in Silver47 Exploration securities and may acquire additional securities of Silver47 Exploration including on the open market or through private acquisitions or sell securities including on the open market or through private dispositions, in the future, depending on market conditions, reformulation of plans and/or other relevant factors.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260984

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