First Andes Silver Increases Private Placement to $1,350,000 CAD

Rhea-AI Summary

First Andes Silver (OTC:MSLVF) has expanded its previously announced non-brokered private placement from $1.0 million to $1.35 million CAD. The offering consists of 13.5 million units priced at $0.10 CAD per unit, with each unit comprising one common share and one-half share purchase warrant.

Each warrant will be exercisable at $0.15 CAD per share for a two-year period. The securities will have a four-month resale restriction period. The proceeds will fund the expansion of the company's drill program at the Santas Gloria silver property and general working capital needs.

Positive

• Increased private placement size by 35% from $1.0M to $1.35M CAD
• Proceeds will expand current drill program at Santas Gloria silver property
• Two-year warrants provide potential additional funding at $0.15 CAD per share

Negative

• Potential dilution for existing shareholders
• Four-month lock-up period may affect liquidity
• Additional finder's fees may reduce net proceeds

News Market Reaction – MSLVF

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-0.99% News Effect

On the day this news was published, MSLVF declined 0.99%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - July 15, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLV) (FSE: 9TZ0) (the "Company" or "First Andes") today announced that is has increased its previously announced non-brokered private placement financing from 10,000,000 units ("Units") at a price of $0.10 CAD per unit for gross proceeds of $1,000,000 CAD to 13,500,000 Units at $0.10 CAD per Unit for gross proceeds of up to $1,350,000 CAD (the "Offering").

Each Unit will continue to consist of one common share of the Company (a "Share") and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant will be exercisable at $0.15 CAD per Share for a period of two (2) years from the date of issue.

The securities issued under the Offering will be subject to restrictions on resale for a period of four (4) months from the date of issue. The Company may pay finders a fee in cash and/or share purchase warrants to registered finders.

The proceeds of the Offering will be used to expand on its current drill program at the Santas Gloria silver property and general working capital purposes.

About First Andes Silver Ltd.

First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 55 km east of Lima, Peru. Santas Gloria has excellent established road access and is situated within a well-known intermediate sulfidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface, which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025.

For more information, please contact:
Colin Smith, CEO and Director
Phone: 604 806-0626 (ext. 108)
E-mail: info@firstandes.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258968

FAQ

What is the new size of First Andes Silver's (MSLVF) private placement?

First Andes Silver has increased its private placement to $1.35 million CAD, up from the previously announced $1.0 million CAD, offering 13.5 million units at $0.10 CAD per unit.

What are the terms of First Andes Silver's (MSLVF) private placement warrants?

Each unit includes one-half of a warrant, with each whole warrant exercisable at $0.15 CAD per share for a period of two years from the issue date.

How will First Andes Silver (MSLVF) use the private placement proceeds?

The proceeds will be used to expand the current drill program at the Santas Gloria silver property and for general working capital purposes.

What is the lock-up period for First Andes Silver's (MSLVF) private placement securities?

The securities issued under the offering will be subject to a four-month restriction period on resale from the date of issue.