Sunshine Silver (SSMR) Electrum group discloses 62.9% beneficial ownership

Rhea-AI Filing Summary

Sunshine Silver Mining & Refining Company received an ownership report from a group of Electrum-affiliated entities and Thomas S. Kaplan. As of June 30, 2026, they may be deemed to beneficially own 96,050,348 common shares, including 8,869,660 shares underlying exercisable warrants.

This represents approximately 62.9% of the 143,726,603 common shares the company reported outstanding after its IPO and underwriters’ option exercise. The largest holder, Electrum Silver US LLC, owns 86,037,688 shares (including 7,941,770 warrant shares), with additional holdings in Electrum Silver US II LLC, Tigris Financial Group Ltd., Manul Capital Management LLC and GRAT Holdings LLC. Voting and dispositive power is shared among the reporting entities, which jointly filed under Rule 13d-1(k) and each disclaims beneficial ownership beyond its pecuniary interest.

Key Figures

Aggregate beneficial ownership: 96,050,348 common shares Ownership percentage: 62.9% Shares outstanding baseline: 143,726,603 common shares +4 more

7 metrics

Aggregate beneficial ownership 96,050,348 common shares Shares the reporting persons may be deemed to beneficially own as of June 30, 2026, including warrants

Ownership percentage 62.9% Portion of Sunshine Silver common shares deemed outstanding held by the reporting persons

Shares outstanding baseline 143,726,603 common shares Total common shares reported outstanding after IPO and underwriters’ option exercise

Exercisable warrant shares 8,869,660 shares Total shares underlying exercisable warrants included in beneficial ownership

Electrum Silver US LLC holding 86,037,688 common shares Directly owned by Electrum Silver US LLC, including 7,941,770 warrant shares

Electrum Silver US II LLC holding 8,293,160 common shares Directly beneficially owned by Electrum Silver US II LLC, including 927,890 warrant shares

Tigris Financial Group Ltd. holding 1,266,260 common shares Directly owned by Tigris Financial Group Ltd. as of June 30, 2026

Key Terms

beneficially own, exercisable warrants, Rule 13d-1(k), Schedule 13G, +2 more

6 terms

beneficially own financial

"the Reporting Persons may be deemed to beneficially own an aggregate of 96,050,348 Common Shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

exercisable warrants financial

"including 8,869,660 shares underlying exercisable warrants"

Rule 13d-1(k) regulatory

"jointly filed by each of the entities below pursuant to Rule 13d-1(k)"

Schedule 13G regulatory

"agreed to file this and any amendments thereto jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

shared voting power financial

"Shared Voting Power 94,330,848.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared Dispositive Power 94,330,848.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

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

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Available on EDGAR 08/07/2026 - 04:15 PM Accepted by SEC EDGAR 08/07/2026 - 04:15 PM Learn about SEC filing dates

FAQ

How much of Sunshine Silver (SSMR) do the Electrum-related reporting persons own?

As of June 30, 2026, the Electrum-affiliated reporting persons may be deemed to beneficially own 96,050,348 common shares of Sunshine Silver, including 8,869,660 shares underlying exercisable warrants, representing approximately 62.9% of the common shares deemed outstanding.

What is the total number of Sunshine Silver (SSMR) shares outstanding used in this ownership calculation?

The 62.9% ownership figure is based on 143,726,603 common shares outstanding, as reported by Sunshine Silver after its initial public offering and the underwriters’ exercise of their option to purchase additional common shares, disclosed on June 5, 2026.

Which entities hold the largest Sunshine Silver (SSMR) positions in this Schedule 13G?

Electrum Silver US LLC directly owns 86,037,688 common shares (including 7,941,770 warrant shares). Electrum Silver US II LLC holds 8,293,160 shares (including 927,890 warrant shares), while Tigris Financial Group Ltd., Manul Capital Management LLC and GRAT Holdings LLC hold smaller blocks.

What is Thomas S. Kaplan’s reported beneficial ownership in Sunshine Silver (SSMR)?

Thomas S. Kaplan may be deemed to beneficially own 96,050,348 common shares of Sunshine Silver, or about 62.9% of the class, through his roles and interests in Electrum-related entities and trusts. Each reporting person disclaims beneficial ownership beyond its pecuniary interest.

Do the reporting persons have sole or shared voting power over Sunshine Silver (SSMR) shares?

Each reporting person reports 0 shares with sole voting or dispositive power and only shared voting and dispositive power over their respective holdings, as reflected on the cover pages for Items 5 through 8.

What type of securities do the Electrum-related entities hold in Sunshine Silver (SSMR)?

The holdings consist of common stock of Sunshine Silver, par value $0.001 per share, and include exercisable warrants for 8,869,660 underlying common shares that are counted in the beneficial ownership totals.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Sunshine Silver Mining & Refining Company

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

867866105

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Electrum Silver US LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 86,037,688.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 86,037,688.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

86,037,688.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

56.7 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Electrum Strategic Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 94,330,848.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 94,330,848.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

94,330,848.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

61.8 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Electrum Global Holdings L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 94,330,848.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 94,330,848.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

94,330,848.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

61.8 %

12

Type of Reporting Person (See Instructions)

PN, FI

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

TEG Global GP Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 94,330,848.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 94,330,848.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

94,330,848.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

61.8 %

12

Type of Reporting Person (See Instructions)

OO, FI

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

The Electrum Group LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 94,330,848.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 94,330,848.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

94,330,848.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

61.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Electrum Silver US II LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,293,160.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,293,160.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,293,160.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Electrum Strategic Opportunities Fund II L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,293,160.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,293,160.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,293,160.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

PN, FI

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Electrum Strategic Opportunities Fund II GP L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,293,160.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,293,160.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,293,160.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

PN, FI

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

ESOF II GP Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,293,160.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,293,160.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,293,160.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

OO, FI

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Tigris Financial Group Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,266,260.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,266,260.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,266,260.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.9 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Manul Capital Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 60,010.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 60,010.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

60,010.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

GRAT Holdings LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 393,230.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 393,230.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

393,230.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.3 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 867866105

1

Names of Reporting Persons

Thomas Scott Kaplan

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 96,050,348.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 96,050,348.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

96,050,348.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

62.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Sunshine Silver Mining & Refining Company
(b)	Address of issuer's principal executive offices: 2209 Big Creek Road, Kellogg, Idaho, 83837
Item 2.
(a)	Name of person filing: This Schedule 13G is jointly filed by each of the entities below (collectively, the "Reporting Persons") pursuant to Rule 13d-1(k) promulgated by the Securities and Exchange Commission pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "Act"): (i) Electrum Silver US LLC ("ESUS"); (ii) Electrum Strategic Management LLC ("ESM"); (iii) Electrum Global Holdings L.P. ("Global Holdco"); (iv) TEG Global GP Ltd. ("TEG Global"); (v) The Electrum Group LLC ("TEG"); (vi) Electrum Silver US II LLC ("ESUS II"); (vii) Electrum Strategic Opportunities Fund II L.P. ("ESOF II"); (viii) Electrum Strategic Opportunities Fund II GP L.P. ("ESOF II GP L.P."); (ix) ESOF II GP Ltd. ("ESOF II GP"); (x) Tigris Financial Group Ltd. ("Tigris"); (xi) Manul Capital Management LLC ("Manul"); (xii) GRAT Holdings LLC ("GRAT Holdings"); and (xiii) Thomas Scott Kaplan. The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is attached as Exhibit 99.1 to this Schedule 13G, pursuant to which the Reporting Persons agreed to file this Schedule 13G and any amendments thereto jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act.
(b)	Address or principal business office or, if none, residence: The address of each of the Reporting Persons is 600 Fifth Avenue, 24th Floor, New York, New York 10020.
(c)	Citizenship: See responses to Item 4 on each cover page.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP Number(s): 867866105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of June 30, 2026, ESUS directly owned 86,037,688 shares of the Issuer's common stock ("Common Shares") (including 7,941,770 shares underlying exercisable warrants). ESM is the manager of ESUS. ESM is wholly owned by Global Holdco, and TEG Global is the general partner of Global Holdco. TEG acts as an investment advisor to Global Holdco. As a result, ESM, Global Holdco, TEG Global and TEG may be deemed to beneficially own the Common Shares owned by ESUS. Thomas S. Kaplan, Chairman of the Issuer's Board of Directors, is also Chairman, Chief Executive Officer and Chief Investment Officer of TEG. As of June 30, 2026, ESUS II directly beneficially owned 8,293,160 Common Shares (including 927,890 shares underlying exercisable warrants). ESOF II owns 99% of ESUS II, and ESM is the manager of ESUS II. ESM is wholly owned by Global Holdco, and TEG Global is the general partner of Global Holdco. The general partner of ESOF II is ESOF II GP L.P., and the general partner of ESOF II GP L.P. is ESOF II GP. ESOF II GP is wholly owned by Global Holdco. TEG acts as an investment advisor to ESOF II. As a result, ESOF II, ESM, Global Holdco, TEG Global, ESOF II GP L.P., TEG and ESOF II GP may be deemed to beneficially own the Common Shares owned by ESUS II. Thomas S. Kaplan, Chairman of the Issuer's Board of Directors, is also Chairman, Chief Executive Officer and Chief Investment Officer of TEG. As of June 30, 2026, Tigris directly owned 1,266,260 Common Shares. Tigris is wholly owned by Mr. Kaplan. As of June 30, 2026, Manul directly owned 60,010 Common Shares. Manul is owned by a trust for the benefit of Mr. Kaplan and his family. As of June 30, 2026, GRAT Holdings directly owned 393,230 Common Shares. GRAT Holdings is wholly owned by trusts for the benefit of Mr. Kaplan and his family. As of June 30, 2026, the Reporting Persons may be deemed to beneficially own an aggregate of 96,050,348 Common Shares (including 8,869,660 shares underlying exercisable warrants). Each of the Reporting Persons disclaims beneficial ownership of such Common Shares except to the extent of its pecuniary interest therein, if any. Pursuant to Rule 13d-4 of the Act, the Reporting Persons expressly declare that the filing of this statement shall not be construed as an admission that any such person is, for the purposes of Section 13(d) and/or Section 13(g) of the Act or otherwise, the beneficial owner of any securities covered by this statement held by any other person. The Reporting Persons expressly disclaim that they have agreed to act as a group other than as described in this Schedule 13G.
(b)	Percent of class: See responses to Item 11 on each cover page. As of June 30, 2026, the aggregate 96,050,348 Common Shares (including 8,869,660 shares underlying exercisable warrants) that the Reporting Persons may be deemed to beneficially own represents approximately 62.9% of the total Common Shares deemed to be outstanding. All percentages calculated in this Schedule 13G are based upon an aggregate of 143,726,603 Common Shares of the Issuer reported by the Issuer to be outstanding after the closing of its initial public offering and the underwriters' exercise of their option to purchase additional Common Shares, as disclosed in the Issuer's prospectus filed with the Securities and Exchange Commission on June 5, 2026 and press release issued June 5, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See responses to Item 5 on each cover page.
	(ii) Shared power to vote or to direct the vote: See responses to Item 6 on each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See responses to Item 7 on each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See responses to Item 8 on each cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Electrum Silver US LLC

Signature:	/s/ Andrew M. Shapiro
Name/Title:	Andrew M. Shapiro, Managing Director
Date:	08/07/2026

Electrum Strategic Management LLC

Signature:	/s/ Andrew M. Shapiro
Name/Title:	Andrew M. Shapiro, Managing Director
Date:	08/07/2026

Electrum Global Holdings L.P.

Signature:	/s/ Andrew M. Shapiro
Name/Title:	Andrew M. Shapiro, Director
Date:	08/07/2026

TEG Global GP Ltd.

Signature:	/s/ Andrew M. Shapiro
Name/Title:	Andrew M. Shapiro, Director
Date:	08/07/2026

The Electrum Group LLC

Signature:	/s/ Michael H. Williams
Name/Title:	Michael H. Williams, Senior Managing Director
Date:	08/07/2026

Electrum Silver US II LLC

Signature:	/s/ Andrew Shapiro
Name/Title:	Andrew Shapiro, Managing Director
Date:	08/07/2026

Electrum Strategic Opportunities Fund II L.P.

Signature:	/s/ Michael H. Williams
Name/Title:	Michael H. Williams, Director
Date:	08/07/2026

Electrum Strategic Opportunities Fund II GP L.P.

Signature:	/s/ Michael H. Williams
Name/Title:	Michael H. Williams, Director
Date:	08/07/2026

ESOF II GP Ltd.

Signature:	/s/ Michael H. Williams
Name/Title:	Michael H. Williams, Director
Date:	08/07/2026

Tigris Financial Group Ltd.

Signature:	/s/ Andrew M. Shapiro
Name/Title:	Andrew M. Shapiro, President
Date:	08/07/2026

Manul Capital Management LLC

Signature:	/s/ Andrew M. Shapiro
Name/Title:	Andrew M. Shapiro, President
Date:	08/07/2026

GRAT Holdings LLC

Signature:	/s/ Andrew M. Shapiro
Name/Title:	Andrew M. Shapiro, President
Date:	08/07/2026

Thomas Scott Kaplan

Signature:	/s/ Thomas S. Kaplan
Name/Title:	Thomas S. Kaplan
Date:	08/07/2026

Comments accompanying signature: Electrum Silver US LLC, By: Electrum Strategic Management LLC, its Manager Electrum Global Holdings L.P., By: TEG Global GP Ltd., its general partner Electrum Silver US II LLC, By: Electrum Strategic Management LLC, its Manager Electrum Strategic Opportunities Fund II L.P., By: Electrum Strategic Opportunities Fund II GP L.P., its general partner, By: ESOF II GP Ltd., its general partner Electrum Strategic Opportunities Fund II GP L.P., By: ESOF II GP Ltd., its general partner

Exhibit Information

Exhibit 99.1 - Joint Filing Agreement