Tier One Silver Inc announced non-brokered private placement to issue 15,000,000 units of the Company at an offering price of CAD 0.10 per Unit for gross proceeds up to CAD1,500,000 on October 26, 2023. Each Unit shall consist of one common share of and one full common share purchase warrant of the Company. Each Warrant shall entitle the holder thereof to purchase one common share of the Company at a price of CAD 0.25 at any time on or before the date which is 24 months after the closing date of the initial tranche of the offering.

The Warrants are subject to accelerated expiry to the date that is 30 days following the date of a news release issued by the company announcing the accelerated expiry date in the event that the closing price of the common shares of the Company is greater than CAD 0.50 for 10 consecutive trading days on the TSX Venture Exchange any time after the first 12 months from the Closing Date. In accordance with applicable securities laws, the Shares and Warrants issued under the Offering will be subject to a statutory four-month and one day hold period from the date of issuance in Canada. the Company may pay a cash finder's fee equal to 6% of the gross proceeds and issue finder's warrants equal to 6% of the number of Units sold under the Offering to eligible persons who refer investors to the Company, where permitted by applicable law and in accordance with the policies of the TSXV.

The initial closing of the Offering is anticipated to occur on or about November 10, 2023, subject to the receipt of investor documentation, funds, corporate and TSXV approval. There is no minimum upon which the closing of the Offering is conditional, and any upsize will be announced in the context of the market.