Silver47 Announces Shareholder and Court Approvals for Plan of Arrangement with Bunker Hill

Silver47 holders will receive Bunker Hill stock, while closing remains subject to remaining approvals and conditions.

Rhea-AI Summary

Silver47 Exploration (AAGAF) secured shareholder and final court approvals for its acquisition by Bunker Hill Mining (BHLL) through a plan of arrangement.

Bunker Hill will acquire all outstanding Silver47 common shares, with holders receiving 0.1724 Bunker Hill common shares for each Silver47 share. At the October 27, 2026 special meeting, approval reached 97.57% of votes cast and 96.48% excluding certain shareholders as required by minority-holder protection rules. The Supreme Court of British Columbia granted its final order on November 2, 2026.

Silver47 expects closing on or about November 5, 2026, subject to remaining required approvals and closing conditions. After completion, Silver47 shares are expected to be delisted and/or cease trading on the TSXV, OTCQX and Frankfurt Stock Exchange as soon as practicable. Silver47 then anticipates applying to cease being a reporting issuer under Canadian securities laws.

3 points · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointShareholder approval reached 97.57%, or 96.48% excluding certain shareholders under minority-holder protection rules.
• Moderate pointFinal court approval for Silver47's arrangement was granted on November 2, 2026.
• Moderate pointAcquisition consideration gives Silver47 holders 0.1724 Bunker Hill common shares per Silver47 share.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Remaining approvals and closing conditions must be obtained, satisfied or waived before the expected closing on or about November 5, 2026.

Key Figures

Shareholder approval: 97.57% Minority-holder vote: 96.48% Exchange ratio: 0.1724 Bunker Hill shares +2 more

Shareholder approval

97.57%

Votes cast by eligible shareholders present or represented at the October 27 meeting

Minority-holder vote

96.48%

Votes cast excluding shareholders required to be excluded under MI 61-101

Exchange ratio

0.1724 Bunker Hill shares

For each Silver47 share held

Final court order

November 2, 2026

Court granted the final order approving the arrangement

Expected closing

On or about November 5, 2026

Subject to remaining approvals and closing conditions

Historical Context

2 past events · Latest: Oct 28

2 events

1. Oct 28

   Arrangement approval

   24h Move

   -2.8%

   Both companies had approved the arrangement; final court and exchange approvals remained pending.

2. Aug 21

   Merger agreement

   24h Move

   -9.7%

   Definitive all-stock arrangement set the 0.1724 Bunker Hill-share exchange ratio for Silver47 holders.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

plan of arrangement, reporting issuer

2 terms

plan of arrangement regulatory

"approved the previously announced plan of arrangement"

A plan of arrangement is a formal, court-approved agreement that reorganizes ownership or assets of a company—such as merging businesses, exchanging shares for cash or other securities, or splitting off parts of the company. Investors should care because it can change the value, number, and rights of their holdings and is often binding once approved by both shareholders and a court, offering more legal certainty than a simple vote. Think of it as a legally supervised recipe for how a company will be reshaped and who ends up with what.

reporting issuer regulatory

"cease to be a reporting issuer under applicable Canadian securities laws"

A reporting issuer is a company or investment fund legally required to provide regular, public financial and corporate updates to securities regulators and investors. For investors it matters because those routine filings act like a business’s recurring health reports—offering consistent, official information to assess performance, risks and value so people can make informed buy, sell or compare decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - November 3, 2026) - Silver47 Exploration Corp. (TSXV: AGA) (OTCQX: AAGAF) (FSE: QP2)  ("Silver47" or the "Company") is pleased to announce that shareholders of Silver47 (the "Shareholders") have approved the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) involving Silver47 and Bunker Hill Mining Corp. (TSX: BNKR) (OTCQB: BHLL) ("Bunker Hill"), pursuant to which Bunker Hill will acquire all of the issued and outstanding common shares of Silver47 (the "Shares"), and that the Supreme Court of British Columbia (the "Court") has granted the final order approving the Arrangement.

The Arrangement was approved at Silver47's special meeting of Shareholders (the "Meeting") held on October 27, 2026 by (i) 97.57% of the votes cast by Shareholders present in person or represented by proxy and entitled to vote at the Meeting, and (ii) 96.48% of the votes cast by Shareholders present in person or represented by proxy and entitled to vote at the Meeting, excluding votes cast by certain Shareholders that were required to be excluded pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.

On November 2, 2026, the Court granted the final order approving the Arrangement.

Subject to obtaining all remaining required approvals and the satisfaction or waiver of all remaining conditions to closing, the Arrangement is expected to close on or about November 5, 2026. Pursuant to the Arrangement, Shareholders will receive 0.1724 of a share of common stock of Bunker Hill for each Share held.

Following closing of the Arrangement, the Shares are expected to be de-listed from and/or cease trading on the TSXV, OTCQX and the Frankfurt Stock Exchange as soon as practicable following completion of the Arrangement (the "De-Listing"). Following the De-Listing, it is anticipated that Silver47 will apply to cease to be a reporting issuer under applicable Canadian securities laws.

For a more detailed description of the Arrangement, please refer to Silver47's management information circular dated September 24, 2026, available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at https://silver-47.com/investors/#agm.

About Silver47 Exploration Corp

Silver47 Exploration Corp. is a mineral exploration company focused on uncovering and developing silver-rich deposits in North America. Silver47 is creating a leading high-grade U.S.-focused silver developer with a combined resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz AgEq at 333 g/t AgEq indicated. With operations in Alaska, Nevada and New Mexico, Silver47 is anchored in some of America's most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions and technical reports, please refer to the NI 43-101 technical reports and other filings available on SEDAR+ at www.sedarplus.ca. Silver47 trades on the TSXV under the ticker symbol AGA and on the OTCQX under the ticker symbol AAGAF.

For more information about Silver47, please visit www.silver-47.com.

For Further Information

Giordy Belfiore
Investor Relations, Silver47 Exploration Corp.
gbelfiore@silver-47.com
+1 (604) 288-8004

Neither the TSX, TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has reviewed or approved of the contents of this news release.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements or forward-looking information under applicable securities laws (collectively, "forward-looking statements"). Such statements relate to future events or the Company's future plans, performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "anticipate", "believe", "estimate", "expect", "intend", "plan", "potential", "could", "may", "will" and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements in this news release include, but are not limited to: the closing of the Arrangement on November 5, 2026; the ability of Silver47 and Bunker Hill to obtain all remaining required approvals; the ability of Silver47 and Bunker Hill to satisfy or waive all remaining conditions to closing of the Arrangement; the de-listing of Silver47's securities; and Silver47 ceasing to be a reporting issuer.

These forward-looking statements are based on a number of assumptions considered reasonable by management as of the date of this news release, including assumptions regarding: the expected outcomes of the Arrangement; the ability of Silver47 and Bunker Hill to complete the Arrangement on the terms described herein, or at all, including receipt of required regulatory approvals, shareholder approvals, court approvals, stock exchange approvals and satisfaction of other customary closing conditions; the expected synergies related to the Arrangement in respect of strategy, operations and other matters; the accuracy of geological interpretations; continuity of mineralization; the Company's ability to obtain necessary permits and approvals; availability of financing and personnel to carry out planned programs; future commodity prices; and general business and economic conditions.

Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to: risks inherent in mineral exploration, including unexpected results or outcomes; risks that visual observations of mineralization may not be confirmed by assay results and may not be indicative of grade, continuity or the potential to define a mineral resource; delays or inability to obtain required permits and approvals; availability and cost of financing, labour and equipment; changes in commodity prices and foreign exchange rates; political, regulatory and environmental risks in the jurisdictions where the Company operates; community or social risks; risks relating to completion and anticipated benefits of the proposed Arrangement; and other risks described in the Company's continuous disclosure documents filed at www.sedarplus.ca. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, no assurance can be given that these expectations will prove to be correct and such statements should not be unduly relied upon. Forward-looking statements speak only as of the date of this news release. The Company does not undertake any obligation to update or revise any forward-looking statements, except as required by applicable securities laws. Actual results may differ materially from those expressed or implied in forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/322233

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What will Silver47 shareholders receive in the Bunker Hill acquisition?

Silver47 shareholders will receive 0.1724 of a Bunker Hill common share for each Silver47 share held under the arrangement. Bunker Hill will acquire all issued and outstanding Silver47 common shares.

When is the Silver47 acquisition by Bunker Hill expected to close?

Silver47 expects the arrangement to close on or about November 5, 2026, subject to obtaining all remaining required approvals and satisfying or waiving all remaining closing conditions.