Argenta Silver Corp. — Major Shareholding Notification 2024

Jul 31, 2024

BUTTE ENERGY INC. SUITE 3123 – 595 BURRARD STREET VANCOUVER, BC V7X 1J1 TEL: 604-609-6110

EARLY WARNING REPORT

July 31, 2024

TSXV – BEN.H

Vancouver, British Columbia – Butte Energy Inc. (TSXV – BEN.H) (the “Company”) has been advised that in connection with the completion of private transactions, Thomas Humphreys of Vancouver, B.C., has ceased to be a 10% holder of Butte Energy Inc., and will not be required to complete any further early warning filings, as further described below.

Early Warning Disclosure

The Company has been advised that Mr. Humphreys, today, sold 7,850,000 common shares, representing 11.96% of the issued and outstanding common shares of the Company pursuant to private transactions. Immediately prior to the dispositions, Mr. Humphreys and his related entities beneficially owned or exercised control or direction over an aggregate of 12,475,000 common shares, representing 19% of the issued and outstanding common shares of the Company. Immediately following the disposition, Mr. Humphreys and his related entities beneficially owned or exercised control or direction over an aggregate of 4,625,000 common shares, representing 7.04% of the issued and outstanding common shares of the Company. Mr Humphreys would own 7.33% of the Company on a partially diluted basis assuming the exercise of 200,000 stock options to purchase common shares.

Mr. Humphreys disposed of these securities for investment purposes and the transactions will be disclosed in an Early Warning Report to be filed on SEDAR+ at www.sedarplus.ca pursuant to National Instrument 62-103 (Early Warning Report). As the number of shares Mr. Humphreys owns or controls, directly or indirectly are now less than 10% of the issued and outstanding shares on a partially diluted basis, Mr. Humphreys will no longer be required to complete any further early warning filings in satisfaction of the requirements of the NI 62-103. Mr. Humphreys may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.

On behalf of BUTTE ENERGY INC.

“ Geir Liland ” Chief Executive Officer

For further information please contact:

Tel: 604.609.6110

NEITHER THE 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.

ALL STATEMENTS IN THIS PRESS RELEASE, OTHER THAN STATEMENTS OF HISTORICAL FACT, ARE "FORWARDLOOKING INFORMATION" WITH RESPECT TO THE COMPANY WITHIN THE MEANING OF APPLICABLE SECURITIES LAWS. THE COMPANY PROVIDES FORWARD-LOOKING STATEMENTS FOR THE PURPOSE OF CONVEYING INFORMATION ABOUT CURRENT EXPECTATIONS AND PLANS RELATING TO THE FUTURE AND READERS ARE CAUTIONED THAT SUCH STATEMENTS MAY NOT BE APPROPRIATE FOR OTHER PURPOSES. BY ITS NATURE, THIS INFORMATION IS SUBJECT TO INHERENT RISKS AND UNCERTAINTIES THAT MAY BE GENERAL OR SPECIFIC AND

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WHICH GIVE RISE TO THE POSSIBILITY THAT EXPECTATIONS, FORECASTS, PREDICTIONS, PROJECTIONS OR CONCLUSIONS WILL NOT PROVE TO BE ACCURATE, THAT ASSUMPTIONS MAY NOT BE CORRECT AND THAT OBJECTIVES, STRATEGIC GOALS AND PRIORITIES WILL NOT BE ACHIEVED. THESE RISKS AND UNCERTAINTIES INCLUDE BUT ARE NOT LIMITED TO THOSE IDENTIFIED AND REPORTED IN THE COMPANY’S PUBLIC FILINGS UNDER THE COMPANY’S SEDAR PROFILE AT WWW.SEDARPLUS.CA. ALTHOUGH THE COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL ACTIONS, EVENTS OR RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN FORWARD-LOOKING INFORMATION, THERE MAY BE OTHER FACTORS THAT CAUSE ACTIONS, EVENTS OR RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED OR INTENDED. THERE CAN BE NO ASSURANCE THAT SUCH INFORMATION WILL PROVE TO BE ACCURATE AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. THE COMPANY DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING INFORMATION, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE UNLESS REQUIRED BY LAW.

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