Millennium Silver Corp. - Oversubscribed Private Placement Closed and Shares for Debt Settlement Completed

About this update from Millennium Silver Corp

Vancouver, British Columbia - Millennium Silver Corp. (TSXV: MSC) (the 'Company'), announces that, further to its news releases dated January 14, 2026, and February 20, 2026, it has received conditional acceptance from the TSX Venture Exchange (the 'Exchange') and has closed its non-brokered private placement for gross proceeds of $2,888,905 (the 'Private Placement'). The oversubscribed Private Placement consists of 192,593,667 units at $0.015 per unit. Each unit comprises one common share and one non-transferable share purchase warrant (the 'Warrant'). Each Warrant entitles the holder to acquire one common share exercisable over a period of five years at an exercise price of $0.05 per common share for the initial 3 year period and thereafter at $0.10 per common share until expiry. Pursuant to the Private Placement, the Company has issued 132,227,000 units for gross proceeds of $1,983,405 and is retaining $905,500 in trust. This amount relates to a subscription from a foreign entity, which is being held in trust pending completion of Personal Information Form ('PIF') background searches by the Exchange. Upon satisfactory completion of the background searches and receipt of the Exchange's final acceptance, the remaining 60,366,667 units will be issued, and the proceeds released from trust. Aggregate finder's fees of $118,155 cash and 7,877,020 non-transferable finders warrants were paid to arm's-length finders in connection with the Private Placement. Each finder warrant entitles the holder to acquire one common share exercisable over a period of five years at an exercise price of $0.05 per common share for the initial 3 year period and thereafter at $0.10 per common share until expiry. Proceeds from the Private Placement will be used for exploration (pursuant to the Company's 2019 NI 43-101 Technical Report), accounts payable, and working capital. All securities issued in connection with the Private Placement will have a statutory hold period of four months and one day from the date of issuance. A director of the Company purchased 1,000,000 units in the Private Placement, which is considered a 'related party transaction' within the meaning of Multilateral Instrument 61-101 ('MI 61-101'). Pursuant to sections 5.5(a) and 5.7(1)(a) of the MI 61-101, the transaction is expected to be exempt from valuation and minor shareholder requirements. Debt Settlement Cl...

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