IMPACT Silver Proposes Extension of 2025 Share Warrants

04.04.2025  |  Newsfile

Vancouver, April 4, 2025 - Impact Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") announces it has proposed an extension of 33,357,104 share warrants expiring in 2025 by 18 months subject to TSX Venture Exchange approval.

The Company intends to extend the expiry date of a total of 30,903,012 share purchase warrants (the "April Warrants") by 18 months, such that they will expire on October 19, 2026. Each of these April Warrants originally entitled the holder thereof to acquire one common share of the Company at a price of $0.35 cents per common share until April 19, 2025. All other terms of the April Warrants, including exercise price, will remain the same. The April Warrants were issued pursuant to a private placement that closed on April 19, 2023.

As part of the same financing in 2023, a second tranche closed May 3, 2023. The Company issued 2,454,092 share purchase warrants (the "May Warrants") with each May Warrant originally entitling the holder to purchase one common share of the Company at a price of $0.35 until May 3, 2025. These are also extended by 18 months, such that they will expire November 3, 2026.

The extension of the expiry dates of the April Warrants and the May Warrants is subject to receipt of TSX Venture Exchange approval.

A total of 100,000 April Warrants are held by a director of the Company. Therefore, the extension of the expiry date of these April Warrants constitutes a related party transaction as contemplated by Multilateral Instrument 61-101, Protection of Minority Shareholders in Special Transactions, and TSX-V Policy 5.9, Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by MI 61-101 can be relied upon as the fair market value of the April Warrants held by insiders does not exceed 25 per cent of the market capitalization of the Company. Upon receipt of the approval of the TSX-V of the warrant extensions, a material change report in respect of the warrant extension will be filed by the Company.

ABOUT IMPACT SILVER

IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.

• Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km² Zacualpan project in central Mexico where four producing underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over 4.5 million ozs silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016, for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 18 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 13 million ounces of silver, generating revenue of more than $277 million, with no long-term debt.

• Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential. The Company recently restarted mining operations and is ramping up production toward design capacity levels. Exploration potential at Plomosas is exceptional along the 6 km-long structure. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material at surface. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.

Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., a Director of IMPACT Silver Corp., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.

Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com. Follow us on X (formerly Twitter) @IMPACT_Silver and LinkedIn at https://www.linkedin.com/company/impactsilver.

On behalf of IMPACT Silver Corp.

"Frederick W. Davidson"

President & CEO

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

Forward-Looking and Cautionary Statements

This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that are based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding interpretation of drill results, activity at the projects and estimated timing thereof, the potential for defining and extending the known mineralization, exploration potential on the properties, and plans for drilling and future operations at the Company's projects or plans for financing.

Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitation, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, criminal activity, metal prices, political and economic factors, community relations, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, pandemics and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement or beliefs, opinions, projections or other factors, except as required by law.

The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company at Zacualpan and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101, the Company is required to disclose that it has not based its production decisions on NI 43-101 mineral resources or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.

303-543 Granville Street
Telephone 604 664-7707
Vancouver, BC, Canada V6C 1X8
www.impactsilver.com
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