Argenta Silver Corp. — Capital/Financing Update 2026

Jan 7, 2026

This offering document pursuant to the listed issuer financing exemption under section 5A.2 of National Instrument 45-106 – Prospectus Exemptions (the "Offering Document") constitutes an offering of these securities only in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such securities and to those persons whom they may be lawfully offered for sale. The securities offered under this Offering Document have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons or persons in the United States except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This Offering Document does not constitute an offer to sell or a solicitation of an offer to buy any of the securities offered hereby within the United States or to, or for the benefit of, U.S. persons or persons in the United States. "United States" and "U.S. Person" have the meanings ascribed to them in Regulation S under the U.S. Securities Act.

No securities regulatory authority or regulator has assessed the merits of these securities or reviewed this Offering Document. Any representation to the contrary is an offence. This Offering (as defined below) may not be suitable for you, and you should only invest in it if you are willing to risk the loss of your entire investment. In making this investment decision, you should seek the advice of a registered dealer.

OFFERING DOCUMENT UNDER THE LISTED ISSUER FINANCING EXEMPTION

(Amending and restating the Offering Document under the Listed Issuer Financing Exemption of same date to increase the Offering size)

January 7, 2026

ARGENTA SILVER

ARGENTA SILVER CORP.

("Argenta", the "Company" or the "issuer")

What are we offering?

Offering:	Red Cloud Securities Inc. (“Red Cloud” or the “Lead Underwriter”), as lead underwriter and sole bookrunner hereby offers to purchase for resale 25,000,000 common shares of the Company (each, an “Offered Share”) at a price of C$0.80 per Offered Share (the “Offering Price”) for gross proceeds of C$20,000,000 (the “Underwritten Offering”). In addition, the Company will grant to the Underwriters an option, exercisable up to 48 hours prior to the Closing Date (as defined below), to purchase for resale up to an additional 3,750,000 Offered Shares at the Offering Price for additional gross proceeds of up to C$3,000,000 and on the same terms and conditions as set out herein (the “Over-Allotment Option”, and together with the Underwritten Offering, the “Offering”).
	The Offering will be completed pursuant to and in accordance with the listed issuer financing exemption under section 5A.2 of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “LIFE Exemption”) in all of the provinces of Canada except Québec. The Offered Shares sold pursuant to the LIFE Exemption are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.
	The Offered Shares may also be sold in offshore jurisdictions and in the United States to Qualified Institutional Buyers as defined in Rule 144A under the United States Securities Act of 1933, as amended (the “1933 Act”), and to Accredited Investors as defined in Rule 501(a) of Regulation D under the 1933 Act, by way of a private placement basis pursuant to exemptions from the registration requirements of the 1933 Act.
Offering Price:	$0.80 per Share (the “Offering Price”).
Offering Amount:	There is no minimum amount. A maximum amount of 28,750,000 Shares, including the Over-Allotment Option, for gross proceeds of $23,000,000 is being offered.

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Closing Date:	The Offering is expected to close on or about January 22, 2026 (the “Closing Date”), or such other date as mutually agreed to between the Lead Underwriter and the Company.
Exchange:	The Common Shares are listed for trading on the TSX Venture Exchange Inc. (the “TSXV”) under the symbol “AGAG” and on the OTCQX under the symbol “AGAGF”.
Closing Price:	The closing price of the Common Shares on the TSXV on January 6, 2026 was $0.93.

Argenta is conducting a listed issuer financing under section 5A.2 of National Instrument 45-106 Prospectus Exemptions. In connection with this Offering, the issuer represents the following is true:

• The issuer has active operations, and its principal asset is not cash, cash equivalents or its exchange listing.
• The issuer has filed all periodic and timely disclosure documents that it is required to have filed.
• The issuer is relying on the exemptions in Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Order") and is qualified to distribute securities in reliance on the exemptions included in the Order.
• The total dollar amount of this Offering, in combination with the dollar amount of all other offerings made under the listed issuer financing exemption and under the Order in the 12 months immediately preceding the date of the news release announcing this offering, will not exceed $25,000,000.
• The issuer will not close this Offering unless the issuer reasonably believes it has raised sufficient funds to meet its business objectives and liquidity requirements for a period of 12 months following the distribution.
• The issuer will not allocate the available funds from this offering to an acquisition that is a significant acquisition or restructuring transaction under securities law or to any other transaction for which the issuer seeks security holder approval.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Except for statements of historical fact, information contained herein constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. 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", "estimate", "targeting", "intends", "believe", and similar expressions, or describes a "goal", or variation of such words and phrases or states that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information and forward-looking statements herein include, but are not limited to, those relating to: the Company's expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering; the completion of the Offering and the expected Closing Date; the deposits, veins, and properties the Company intends to target with its exploration program; the types of precious metals being targeted for exploration by the Company; changes in project parameters as plans continue to be refined; the Company's ability to continue as a going concern; and the Company's going-forward strategy.

Forward-looking statements and forward-looking information are not guarantees of future performance and are based upon a number of estimates and assumptions of management at the date the statements are made. Such factors and assumptions may include, but are not limited to: the Company's ability to close the Offering on the terms disclosed herein, or at all, that the Company will use the proceeds from the Offering as currently contemplated, that the Company's exploration programs will proceed as currently contemplated, the future prices of minerals and precious metals, the price of other commodities such as, fuel and electricity; currency exchange rates and interest rates; favourable operating conditions, political stability, timely receipt of governmental approvals, licences and permits (and renewals thereof); access to necessary financing; stability of labour markets and market conditions in general; availability of equipment; estimates of costs and expenditures to complete the

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Company's programs and goals; the Company's ability to raise sufficient capital to fund planned exploration activities and maintain corporate capacity; stability in financial and capital markets; and there being no significant disruptions affecting the development and operation of the Company's projects.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, and without limitation: the Company may not be able to close the Offering on the terms disclosed herein, or at all; the Company will not use the proceeds of the Offering as currently contemplated; the Company's exploration programs will not proceed as currently contemplated; the Company could lose title and ownership of its properties, which would have a negative effect on its operations and valuation; the Company may fail to obtain required permits and licenses which could adversely impact the Company's operations and profitability; the market of the Shares is subject to volume and price volatility which could negatively affect a shareholder's ability to buy or sell the Company's Shares; the price of the Shares may be adversely affected by declines in the prices of certain minerals; the loss of key personnel could adversely affect the Company's operations; the Company operates in the resource industry, which is highly speculative, and has certain inherent exploration risks which could have a negative effect on its operations; the Company may be unable to protect its information systems or prevent cyber-attacks and security breaches; the inability to access adequate infrastructure for the Company's exploration, development and processing activities could negatively affect its business, financial condition, results of operations, cash flows or prospects; the Company is subject to political regulatory risks which may adversely affect its ability to continue to explore, develop and operate its properties; the Company is subject to substantial environmental requirements which could cause a restriction or suspension of its operations; the Company may be subject to a variety of civil or other legal proceedings, which may adversely affect its business, operating results or financial condition; the Company may be unable to continue as a going concern; the Company is subject to general global risks arising from epidemic diseases, the ongoing war in Ukraine, rising inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all is uncertain; as well as other risk factors in the Company's other public filings available at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The Company cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. The Company undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in the Company's expectations, except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this offering document is expressly qualified by this cautionary statement.

CURRENCY AND MINERAL RESOURCE ESTIMATES

Unless otherwise indicated, all references to "$", "C$" or "dollars" in this Offering Document refer to Canadian dollars, which is the Company's functional currency.

All references to "mineral resources" included in this offering document are calculated in accordance with the standards set by the Canadian Institute of Mining & Metallurgy Definition Standards and disclosed in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Actual recoveries of mineral products may differ from mineral resources as reported due to inherent uncertainties in acceptable estimating techniques. In particular, "indicated" and "inferred" mineral resources have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an "indicated" or "inferred" mineral resource will ever be upgraded to a higher category of resource.

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Scientific and Technical Information

The scientific and technical information contained in this offering document has been reviewed and approved by Rob Van Egmond, PGeo., a “qualified person” within the meaning of NI 43-101. Rob Van Egmond, P.Geo. has visited the El Quevar Project and is not independent of the Company.

SUMMARY DESCRIPTION OF BUSINESS

What is our business?

Argenta is a junior mining, exploration and development company engaged in the acquisition, exploration and development of mineral properties in Argenta, and whose current focus is on advancing the El Quevar silver project (“El Quevar” or the “Project”) in Salta Province, Argentina.

Further information regarding the business and operations of the Company, and the other projects of the Company, can be found in the Company’s public filings available under its profile on SEDAR+ at www.sedarplus.ca.

Recent Developments

Exploration and Drilling Results

On January 6, 2025 the Company announced it commenced its 2025 exploration program at El Quevar, focusing initially on surface work, mapping, core re-logging, and data validation in the Quevar South area. Phase 1 was intended to generate robust drill targets for subsequent phases.

On January 20, 2025, the Company announced the identification of high-priority exploration targets at El Quevar, based on reinterpretation of historical soil geochemistry. These anomalies include a silver anomaly extending $1,850\mathrm{m}\times 600\mathrm{m}$ to the west of the existing grid, and a gold-rich anomaly of $2,750\mathrm{m}\times 1,200\mathrm{m}$ in the southeast zone. A grid expansion program (100 m × 100 m infill) was initiated to refine these targets.

On May 14, 2025 the Company announced it had completed Phase 1 of its 2025 exploration program, which included the re-logging of approximately $23,500\mathrm{m}$ of historical drill core (about $32\%$ of the historic total), regional mapping, geochemical sampling, database modernization, and spectroscopic analysis of alteration. These efforts provided new structural and lithological insights to refine target definitions for drilling.

On May 26, 2025, the Company announced it had mobilized for its 2025 winter drilling program (Phase 2) at El Quevar. The planned campaign comprises $\sim 4,000\mathrm{m}$ of diamond drilling (single rig) concentrated in the Quevar South area, with a mix of confirmation, step-out, and exploration drilling ($\approx 15\%$ confirmation, $25\%$ resource expansion, $60\%$ new targets).

On July 21, 2025 the Company announced the first batch of assay results from the winter drill program was released. Highlights included:

• QVD-410: 533 g/t Ag over 20.20 m, including 1,320 g/t Ag over 4.00 m (which included 3,549 g/t Ag over 1.00 m).
• QVD-409: 309 g/t Ag over 26.00 m, including 713 g/t Ag over 8.25 m (with 1,169 g/t Ag over 2.50 m).
• QVD-408 (step-out): 112 g/t Ag over 19.20 m, including 408 g/t Ag over 2.20 m and 105 g/t Ag over 7.00 m.
• New sampling of historic core (approx. $35\%$ of historic footage) yielded high-grade intervals (e.g. 602 g/t Ag over 3.00 m, 882 g/t Ag over 1.00 m).
• Surface rock samples included a grab sample reaching the analytical upper detection limit (20,000 g/t Ag), plus other values of 16,145 g/t and 6,004 g/t Ag.
• Soil grid sampling returned anomalous values (e.g. 147 g/t, 296 g/t Ag).

These results confirmed both continuity of known mineralization and upside potential in new zones beyond the

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current resource footprint.

On August 13, 2025, Argenta published the second batch of assay results from the winter drilling campaign. Key intercepts include:

• QVD-412 infill hole: 1,026 g/t Ag over 40.00 m, which includes narrower internal zones of 2,246 g/t Ag over 15.00 m, 4,423 g/t Ag over 6.00 m, and 18,467 g/t Ag over 1.05 m.
• QVD-413 up-dip expansion: 414 g/t Ag over 14.35 m, including 795 g/t Ag over 3.00 m and 466 g/t Ag over 4.00 m.
• QVD-411 was terminated prematurely at 92 m due to operational constraints, but the target remains in the drill plan.

These results reaffirm the high-grade nature of Yaxtché's mineralization and strengthen the rationale for continued infill, expansion, and target testing.

On September 23, 2025, the third release of winter drill results was announced, including:

• QVD-414 (70 m step-out to the northwest): 545 g/t Ag over 43.20 m, including 1,302 g/t Ag over 8.00 m and 905 g/t Ag over 7.70 m, extending the known mineralized domain.
• QVD-416 (first test of newly defined target "Atenea"): 314 g/t Ag over 2.00 m.
• The Company confirmed the completion of the winter program (16 holes, 4,244 m drilled), with assays pending from six holes (expected in October).
• Preparations are underway for a follow-up summer campaign.

These results both validate the expansion strategy and substantiate the newly targeted zones, such as Atenea, as prospective discovery areas.

On October 27, 2025, the fourth set of assay results from its winter drilling was announced, confirming high-grade silver intervals within the Yaxtché Deposit, notably including 694 g/t Silver over 2.1 meters and, while additional drill results highlight 204 g/t Silver over 2.00 meters at the Mani exploration target. Highlights* included:

• QVD-411B: validates Yaxtché Deposit continuity with 263 g/t Ag over 35.00 meters, including 425 g/t Ag over 6.00 m, and 342 g/t Ag over 9.00 m, which also includes 694 g/t Ag over 2.1 m. The hole also intercepted gold values of 0.35 g/t Au over 1.00 m and 0.84 g/t Au over 1.00 m.
• QVD-420: exploration hole at the Mani target returned: 204 g/t Ag over 2.00 meters. This finding confirms the presence of a separate mineralized trend 800 m south of the Yaxtché Deposit that will be followed up on in the next drill program.

On November 13, 2025, the Company announced the fifth and final set of assay results from its winter drilling program, which showed robust and continuous, anomalous silver grades over 123.00 meters at the newly discovered Andrea exploration target, while QVD-422 confirmed the continuity of the target, yielding 7 g/t Ag over 100.00 metres. These findings confirm the presence of a separate wide zone with anomalous silver values located 950 m northeast of the Yaxtché Deposit.*

The Company further announced the commencement of its summer exploration program with 2 drill rigs at the El Quevar Project. It is expected that 12,000 to 15,000 meters will be drilled between November 2025 and June 2026.

*Intervals shown are core length. Estimated true widths vary between 60 to 85% of core reported length. Insufficient re-modelling and drill density on new data has been completed to calculate true width at this time.

Financings and Strategic Investments

On March 13, 2025, Argenta announced a strategic investment into the Company by Argentine businessman Eduardo Elsztain (via IFIS Ltd.) of CAD $5.0 million through the acquisition of 25,000,000 common shares of the Company at $0.20 per share, resulting in Mr. Elsztain becoming a substantial shareholder, holding approximately 12.69% of the Company. In addition, 5,200,000 share purchase warrants were issued to IFIS Ltd. exercisable at

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0.26 for five years for a period of five years.

Concurrently, the Company and IFIS entered into an Investor Rights Agreement (effective April 28, 2025) granting IFIS certain rights including the right to nominate directors and participate in future equity issuances to maintain its ownership. Nicolas Bendersky was appointed to the board in connection with the investment.

On August 12, 2025, Argenta announced the successful closing of a bought-deal private placement with Red Cloud Securities Inc. (the "2025 Bought Deal"), having raised gross proceeds of $15.0 million, including full exercise of the 5,000,000 unit over-allotment option. A total of 37,500,000 units were sold at $0.40. Red Cloud received cash fees of $801,180 and 2,002,950 broker warrants exercisable at $0.40 for three years. The securities issued are subject to a four-month plus one day hold period, expiring December 13, 2025.

Also on August 12, 2025, Argenta announced the closing of an additional $2.5 million "Pro Rata Investment" by Tyrus S.A., an affiliate of Mr. Elsztain, on the same pricing and terms as the 2025 Bought Deal. Under this arrangement, 6,250,000 units were issued to Tyrus. Following the transaction, Mr. Elsztain, through IFIS and Tyrus, held approximately 12.57% of outstanding common shares (15.40% on a partially diluted basis). The Pro Rata Investment was structured pursuant to the Investor Rights Agreement. The securities were subject to a hold period that expired December 13, 2025.

Corporate and Governance Updates

On April 28, 2025 the Company announced the appointment of Joaquin Marias, previously Vice President, Exploration of the Company, to the position of Chief Executive Officer, bringing significant technical and in-country experience to guide the Company through its next phase of exploration and corporate development.

On May 2, 2025, in connection with the Elsztain Investment, the Company announced the appointment of Mr. Nicolas Bendersky to the Board of Directors of the Company.

On December 22, 2025 the Company announced that its common shares graduated to trading on the OTCQX Best Market, the highest-level trading venue of the OTC Markets Group Inc..

Material Facts

There are no material facts about the securities being distributed that have not been disclosed elsewhere in this Offering Document or in any other document filed since the date that is the earlier of the date that is 12 months before the date of this Offering Document and the date that the issuer's most recent audited annual financial statements were filed.

What are the business objectives that we expect to accomplish using the available funds?

The Company expects to use the net proceeds from the Offering for the advancement of the Company's El Quevar project in Salta Province, Argentina and for general working capital and corporate purposes.

See "Use of Available Funds – How will we use the available funds?" below for additional information in respect of the anticipated use of available funds in respect of these business objectives and other anticipated uses of available funds.

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USE OF AVAILABLE FUNDS

What will our available funds be upon the closing of the Offering?

		Assuming 100% of Offering
A	Amount to be raised by the Offering(1)	$23,000,000
B	Selling commissions and fees(1)(2)	$1,380,000
C	Estimated Offering costs (e.g., legal, accounting, audit)	$200,000
D	Net proceeds of Offering: D = A – (B + C)	$21,420,000
E	Estimated working capital as at September 30, 2025	$25,221,000
F	Total available funds: F = D + E	$46,641,000

Notes:

(1) Assumes exercise of Over-Allotment Option.
(2) The Company will pay to the Agent a cash commission of 6.0% of the aggregate gross proceeds of the Offering.

How will we use the available funds?

The Company intends to use the available funds as follows:

Description of Intended Use of Available Funds Listed in Order of Priority	Assuming 100% of Offering ($)
Expansion drilling	$8,568,000
Geotechnical and infill drilling	$6,426,000
Permitting	$1,071,000
Engineering	$2,142,000
General working capital and corporate purposes(1)	$3,213,000
Total(2)	$21,420,000

Notes:

(1) Funds included in general working capital and corporate purposes may be allocated to corporate expenses, marketing, investor relations activities, business development, and to other activities.
(2) Assumes completion of maximum amount of Offering and exercise of the Over-Allotment Option.

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The above-noted allocation of capital represents the Company's current intentions based upon its present plans and business condition, which could change in the future as its plans and business conditions evolve. Although the Company intends to use the proceeds from the Offering as set forth above, there may be circumstances where, for sound business reasons, a reallocation of funds may be deemed prudent or necessary and may vary materially from that set forth above, as the amounts actually allocated and spent will depend on a number of factors, including the Company's ability to execute on its business plan. See "Cautionary Note Regarding Forward-Looking Statements".

The most recent audited annual financial statements and interim financial report of the Company included a going-concern note. The Company is still in the exploration stage and the Company has not yet generated positive cash flows from its operating activities, which may cast doubt on the Company's ability to continue as a going concern. The Offering is intended to permit the Company to continue to explore its properties and conduct additional drilling with the goal of updating mineral resource estimates, and is not expected to affect the decision to include a going concern note in the next annual financial statements of the Company.

How have we used other funds we have raised in the past 12 months?

On March 13, 2025 the Company completed a strategic investment by way of a non-brokered private placement of common shares with Argentine businessman, Eduardo Elsztain, whereby IFIS Ltd. ("IFIS"), an entity controlled by Mr. Elsztain, acquired an aggregate of 25,000,000 common shares and 5,200,000 share purchase warrants of the Company for total aggregate gross proceeds to Argenta of $5,000,000 (the "Initial Investment").

On August 12, 2025, the Company closed the 2025 Bought Deal for gross proceeds of $15,000,000, through the sale of 37,500,000 units of the Company at a price of $0.40 per unit.

Also on August 12, 2025, following the announcement of the 2025 Bought Deal, Mr. Elsztain elected to exercise his pro-rata equity participation rights under an Investor Rights Agreement, which was entered into with the Company concurrently with the Initial Investment, through the purchase 6,250,000 units at $0.40 per unit for a total investment of $2,500,000.

The Company intended to use such funds as follows:

Activity or Nature of Expenditure	Amount of Proposed Use of Funds (Net)	Approximate Amount of Funds Used as of September 30, 2025	Impact of Variances on Business Objectives and Milestones
Follow-up drill program at the El Quevar Project	$17,935,000	$4,081,000	The Company does not expect this variance to impact its ability to achieve its business objectives and milestones as this variance relates to unused funds from the 2025 Bought Deal.
General working capital	$3,165,000	$2,000,000	The Company does not expect this variance to impact its ability to achieve its business objectives and milestones as this variance relates to unused funds from the 2025 Bought Deal.

FEES AND COMMISSIONS

Who are the dealers or finders that we have engaged in connection with this offering, if any, and what are their fees?

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Underwriters:	Red Cloud Securities Inc. (“Red Cloud”) acting as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters”) under the Offering.
Syndicate:	Red Cloud Securities Inc.¹ 85.0%
Raymond James Ltd. 15.0%
(¹)Lead underwriter and sole bookrunner
Compensation Type:	Cash commission and broker warrants.
Cash Commission:	Cash commission equal to 6.0% of the gross proceeds of the Offering payable on Closing.
Broker Warrants:	At Closing, the Company shall issue to the Underwriters warrants of the Company (the “Broker Warrants”), exercisable for a period of 24 months following the Closing Date, to acquire in aggregate that number of common shares of the Company which is equal to 6.0% of the number of Offered Shares sold under the Offering at an exercise price equal to the Offering Price.

Does the Agent have a conflict of interest?

To the knowledge of the Company, it is not a “related issuer” or “connected issuer” of or to the Agent, as such terms are defined in National Instrument 33-105 – Underwriting Conflicts.

PURCHASERS' RIGHTS

Rights of Action in the Event of a Misrepresentation

If there is a misrepresentation in this Offering Document, you have a right

(a) to rescind your purchase of these securities with the Company, or
(b) to damages against the Company and may, in certain jurisdictions, have a statutory right to damages from other persons.

These rights are available to you whether or not you relied on the misrepresentation. However, there are various circumstances that limit your rights. In particular, your rights might be limited if you knew of the misrepresentation when you purchased the securities.

If you intend to rely on the rights described in paragraph (a) or (b) above, you must do so within strict time limitations.

You should refer to any applicable provisions of the securities legislation of your province or territory for the particulars of these rights or consult with a legal adviser.

ADDITIONAL INFORMATION

Where can you find more information about us?

You can access the Company’s continuous disclosure under its profile at www.sedarplus.ca. The Company’s website address is https://argentasilver.com/.

Purchasers should read this Offering Document and consult their own professional advisors to assess the income tax, legal, risk factors and other aspects of their investment in the Shares.

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DATE AND CERTIFICATE

This Offering Document, together with any document filed under Canadian securities legislation on or after January 7, 2025, contains disclosure of all material facts about the securities being distributed and does not contain a misrepresentation.

Dated: January 7, 2026

(signed) "Joaquin Marias"
Joaquin Marias
Chief Executive Officer

(signed) "Aaron Triplett"
Aaron Triplett
Chief Financial Officer