Silver One Resources Inc. — Capital/Financing Update 2026

Jan 14, 2026

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1. Name and Address of Company

SILVER ONE RESOURCES INC.

1000 – 1055 West Hastings Street

Vancouver, BC V6E 2E9

(the "Company" or "Silver One")

Item 2. Date of Material Change

January 14, 2026.

Item 3. News Release

The news release was issued on January 14, 2026 and was disseminated by Newsfile Corp.

Item 4. Summary of Material Change

The Company announced that it has increased the size of its previously announced non-brokered private placement financing. The Company will issue up to 55,173,000 units of the Company at a price of $0.58 per Unit for aggregate gross proceeds of $32,000,340.

Item 5. Full Description of Material Change

The Company announced that as a result of strong investor demand, the Company has increased the size of its previously announced non-brokered private placement financing (see news release dated January 13, 2026). The Company will issue up to 55,173,000 units of the Company (the "Units") at a price of $0.58 per Unit for aggregate gross proceeds of $32,000,340 (the "Offering"). The Company has closed the order book and does not expect to increase the Offering further.

Each Unit will consist of one (1) common share ("Share") and one-half (1/2) of one common share purchase warrant ("Warrant"), with each whole Warrant entitling the holder to purchase one (1) additional common share (a "Warrant Share") at $0.80 per Warrant Share for a period of three years from the date of issue.

The Units will be offered pursuant to Part 5A 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, to purchasers resident in Canada (other than the province of Quebec), and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus and registration exemptions in accordance with applicable laws. The securities issued under the Offering to Canadian subscribers will not be subject to a hold period in Canada.

The Company may pay finders' fees in connection with the Offering as permitted by applicable securities laws and the rules of the TSX Venture Exchange.

There is an amended and restated offering document related to the Offering (the "Amended and Restated Offering Document") that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.silverone.com. Prospective investors should read the Amended and Restated Offering Document before making an investment decision.

The net proceeds of the Offering will be used on (i) its drilling program at the Candelaria Project; (ii) certain exploration and geophysics work at its mineral properties; (iii) metallurgical and environmental work at the Candelaria Project, (iv) preparing a pre-feasibility study on the Candelaria Project; (v) annual mineral claim payments to the Bureau of Land Management; (vi) exploration drilling at the Company's mineral properties and (vii) general working capital purposes.

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Closing of the Offering may occur in one or more tranches as determined by the Company. Closing is expected within three weeks or such other date as the Company may determine and is subject to the approval of the TSX Venture Exchange.

Item 6. Reliance on Subsection 7.1(2) of National Instrument 51-102
Not applicable.

Item 7. Omitted Information
None.

Item 8. Executive Officer
Greg Crowe
Chief Executive Officer
(604) 416-1719

Item 9. Date of Report
January 14, 2026.