Highlander Silver Corp. — Capital/Financing Update 2025

Apr 10, 2025

DAVIDSON & COMPANY LLP
Chartered Professional Accountants

April 10, 2025

Alberta Securities Commission
British Columbia Securities Commission
Manitoba Securities Commission
Financial and Consumer Services Commission, New Brunswick
Office of the Superintendent of Securities, Service Newfoundland and Labrador
Northwest Territories Office of the Superintendent of Securities
Nova Scotia Securities Commission
Office of the Superintendent of Securities, Nunavut
Ontario Securities Commission
Financial and Consumer Services Division, Prince Edward Island
Autorité des marchés financiers (Québec)
Financial and Consumer Affairs Authority of Saskatchewan
Office of the Yukon Superintendent of Securities

Dear Sirs / Mesdames:

Re: Highlander Silver Corp.

We refer to the short form base shelf prospectus of Highlander Silver Corp. (the "Company") dated April 10, 2025 relating to the offer and issue, from time to time, of common shares, debt securities, warrants, subscription receipts, and units.

We consent to being named and to the use, through incorporation by reference in the above-mentioned short form base shelf prospectus, of our report dated January 28, 2025 to the shareholders of the Company on the following financial statements:

Consolidated statements of financial position as at September 30, 2024 and 2023;

Consolidated statements of changes in equity, net loss and comprehensive loss, and cash flows for the years ended September 30, 2024 and 2023, and notes to the consolidated financial statements, including material accounting policy information.

We report that we have read the short form base shelf prospectus and all information specifically incorporated by reference therein and have no reason to believe that there are any misrepresentations in the information contained therein that are derived from the consolidated financial statements upon which we have reported or that are within our knowledge as a result of our audit of such consolidated financial statements. We have complied with Canadian generally accepted standards for an auditor's consent to the use of a report of the auditor included in an offering document, which does not constitute an audit or review of the preliminary short form base shelf prospectus as these terms are described in the CPA Canada Handbook – Assurance.

A member of Nexia International

1200 - 609 Granville Street, P.O. Box 10372, Pacific Centre, Vancouver, B.C., Canada V7Y 1G6
Telephone (604) 687-0947 Davidson-co.com

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Yours very truly,

Davidson & Company LLP

DAVIDSON & COMPANY LLP
Chartered Professional Accountants