Pinnacle Silver and Gold Corp. Closes Final Tranche of Private Placement, Raising Over $1.6 Million

VANCOUVER, BRITISH COLUMBIA — October 2, 2026 — Leads & Copy — Pinnacle Silver and Gold Corp. has successfully closed the second and final tranche of its non-brokered private placement, raising a total of $1,652,654. The second tranche alone brought in $1,000,575.00 through the issuance of 9,096,132 units at $0.11 per unit. This final closing brings the total offering to 15,024,132 units. Each unit includes one common share and one-half of a share purchase warrant. The warrants are exercisable at $0.16 per share for a period of 24 months from the issuance date.

The company also reported finders' fees totaling $7,524.00 in cash commissions and 68,400 finders' warrants, which are also exercisable at $0.16 per share over 24 months. The net proceeds from the offering will be allocated to advancing the El Potrero gold-silver project in Durango, Mexico, for project evaluations, and for general working capital.

Insiders of Pinnacle Silver and Gold Corp. participated in the initial tranche, subscribing for 1,650,000 units for gross proceeds of $181,500. This insider participation is considered a related-party transaction under Multilateral Instrument 61-101. However, the company is exempt from formal evaluation or minority shareholder approval requirements due to the fair market value of the securities and consideration not exceeding 25% of the company's market capitalization. All securities issued are subject to a four-month hold period and TSX Venture Exchange approval. The offering was not registered under the United States Securities Act of 1933, and these securities cannot be sold in the U.S. without registration or an applicable exemption.

The El Potrero property is situated in Mexico's Sierra Madre Occidental, approximately 35 kilometers from four operating mines, including the Ciénega Mine, Tahuehueto Mine, and Topia Mine. The property features high-grade gold-silver mineralization within a low sulphidation epithermal breccia vein system, with three historic mines along a 500-meter strike length. The property, which has been privately held for nearly 40 years, has significant exploration potential due to a lack of systematic modern exploration.

A 100 tonnes per day plant located on the site is capable of being refurbished, and historic underground workings can be rehabilitated at a relatively low cost to facilitate near-term production, pending permit approvals. The property benefits from road accessibility and is located within three kilometers of a power line.

Pinnacle Silver and Gold Corp. intends to earn an initial 50% interest in the El Potrero project upon commencing production. The company's strategy is to generate sufficient cash flow to further develop the project and increase its ownership to 100%, subject to a 2% net smelter return (NSR). This approach is designed to be less dilutive to shareholders than relying solely on equity markets for project financing.

Pinnacle Silver and Gold Corp. is focused on developing precious metals projects in the Americas. Beyond the El Potrero project, the company holds a 100% interest in the past-producing Argosy Gold Mine and the adjacent North Birch Project in the Red Lake District of northwestern Ontario. The company highlights its experienced management team and commitment to creating long-term, sustainable value for its shareholders.

Source: Pinnacle Silver and Gold Corp.