Silver Viper acquiring Coneto silver-gold project, Mexico

Silver Viper Minerals Corp. [TSXV: VIPR; OTCQB: VIPRF] has executed a definitive share purchase agreement dated March 13, 2026 with Fresnillo plc and Orex Minerals Inc. [TSXV: REX] in connection with its previously announced (October 28, 2025) acquisition of 100% ownership of the Coneto Silver-Gold Project located in Durango, Mexico.

Silver Viper will acquire the vendors’ combined interests in Coneto – 61.21% held by Fresnillo and 38.79 % held by Orex – consisting of all of the outstanding shares of the corporate joint venture which currently holds the Coneto Project, through an all-share transaction.

Silver Viper will issue an aggregate of 25,531,875 common shares to the vendors (the VIPR shares) in satisfaction of the US$15 million purchase price (C$20,425,500), each VIPR share at a deemed price of C$0.80 per share. All VIPR shares issued on closing of the acquisition will be subject to a statutory four-month hold period under applicable Canadian securities laws.

Closing of the acquisition is expected to occur as soon as practicable and remains subject to completion of certain customary conditions, including receipt by Silver Viper and Orex of TSX Venture Exchange approval and no material adverse effects impacting the parties prior to closing. On closing, Fresnillo and Silver Viper will enter into an investor rights agreement, providing customary anti-dilution rights for Fresnillo.

In addition, as previously announced, at or prior to closing of the acquisition, Ruben Alvidrez, Director of Projects and Board Member at Luca Mining Corp., will also be appointed to the company’s Board of Directors. Mr. Alvidrez brings extensive leadership and operational experience in the mining and financial sectors. Prior to joining the mining industry, Mr. Alvidrez spent over 26 years with Citigroup, serving as Senior Vice President of Corporate Operations for Mexico and Latin America. His background combines deep expertise in corporate governance, operations management, and strategic finance.

Adam Cegielski, chairman, commented, “This acquisition of the Coneto Silver‑Gold Project represents a transformational step for Silver Viper Minerals and materially expands our district-scale exposure in one of Mexico’s most prospective silver-gold belts while aligning the company with experienced shareholders and partners. By issuing equity to the vendors, including Fresnillo plc and Orex Minerals Inc., we preserve strong alignment of interests as we accelerate value-generating exploration and development. We’re also pleased to welcome Ruben Alvidrez to the board; his operational and financial experience will be invaluable as we integrate Coneto and advance our portfolio.”

As per TSXV policies, the acquisition constitutes a non-arm’s length transaction due to a shared director (Steve Cope).

Silver Viper Minerals is focused on advancing precious metals projects in Mexico. The company currently operates two key assets: its flagship La Virginia Gold-Silver Project in Sonora and the recently acquired Cimarron Gold-Copper Project in Sinaloa.