Vancouver, British Columbia — (Newsfile Corp., October 28, 2026) — BP Silver Corp. (TSXV: BPAG) (OTCQB: BPSCF) ("BP Silver" or the "Company") has announced additional assay results from two diamond drill holes completed at the Jalsuri North Target as part of its Phase 2 diamond drilling program (the "Program") at the Cosuño Silver Project ("Cosuño") in Bolivia. Drilling continues to intersect significant silver mineralization, in addition to broad intervals of zinc mineralization.

Highlights

• High-grade silver-gold mineralization: Drill hole CO-0019 intersected 10.0 meters ("m") grading 183.62 g/t silver and 0.59 g/t gold (239.65 g/t silver equivalent), including 2.0 m grading 506.50 g/t silver and 1.08 g/t gold (600.04 g/t silver equivalent), starting at 3.0 m depth.
• Additional high-grade silver-gold mineralization: Within the upper mineralized zone, a 5.0 m interval from 4.0 to 9.0 m returned 294.00 g/t silver and 0.81 g/t gold (369.68 g/t silver equivalent).
• Broad zinc mineralization: CO-0019 also intersected a broad lower zone grading 2.49% zinc equivalent over 100.0 m.

(See Table 1 and Table 2, and Figure 3.)

Dr. Stewart D. Redwood, Director and Qualifying Person, stated:

"These two holes at Jalsuri North are mineralized along their entire lengths, with zinc associated with lead, and intersect high-grade silver structures associated with gold, bismuth, copper, antimony, tin and, in some cases, zinc. The geochemical results reveal distinct metal zonation, likely related to variations in temperature within the hydrothermal system. These holes are step-outs to the northwest along strike from hole CO-0015, reported on October 20, 2026, and further demonstrate the continuity of mineralization across the Jalsuri North zone. Similar to CO-0015, both holes are hosted in basaltic andesite and exhibit veinlet, breccia, vug-fill, patchy and disseminated mineralization consistent with an intermediate-sulfidation epithermal system."

Summary of Results

Assay results have been received for two additional drill holes, CO-0016 and CO-0019, completed at the Jalsuri North Target as part of the Company's Phase 2 diamond drilling program (Figure 3; Tables 1 and 2).

Both CO-0016 and CO-0019 intersected zinc mineralization throughout their entire lengths. Notably, CO-0019 also intersected a near-surface 10 m interval of high-grade silver and gold mineralization, in addition to other pathfinder metals. Both holes ended in mineralization, demonstrating the potential for mineralization to continue at depth and further supporting the polymetallic potential of the Jalsuri North target.

The mineralization is interpreted to represent the upper and/or distal levels of an intermediate-sulfidation epithermal system developed adjacent to the extensive Cosuño lithocap. The geological setting suggests the potential for a larger mineralized system at depth. Lithocaps — broad zones of intense hydrothermal alteration that commonly cap epithermal systems — are among the features exploration geologists use to judge whether mineralized structures exposed near surface sit above a potentially larger system at depth.

In detail, the multi-phase, structurally controlled mineralization occurs in several forms, including breccia-hosted mineralization, veinlets, fillings within vesicles in the lavas, disseminations, replacement mineralization, and mineralization within the lower sedimentary conglomerate matrix. The mineral assemblage consists primarily of sphalerite and pyrite, with minor chalcopyrite and galena, accompanied by quartz, calcite, barite, and white clay minerals, including smectite and/or dickite.

Tim Shearcroft, Founder and CEO, stated:

"Intersecting 10 meters grading more than 183 g/t silver, including 2 meters grading over 500 g/t silver, is extremely encouraging. Equally important, both holes intersected broad zinc mineralization and ended in mineralized rock. These results reinforce our view that Jalsuri North may host a substantial polymetallic system with significant potential for further expansion."

Jalsuri North Target

Drill hole CO-0016 intersected a broad zone of polymetallic mineralization within andesitic volcanic rocks, returning 96 m grading 1.37% zinc (1.91% zinc equivalent) from 4.0 to 100.0 m (Table 2). The hole also returned two narrow silver-rich intervals:

• 3.0 m grading 110.60 g/t silver, 0.17 g/t gold, 0.76% zinc, 0.31% copper and 273 ppm bismuth (186.40 g/t silver equivalent) from 13.0 to 16.0 m.
• 2.0 m grading 56.75 g/t silver, 5.65% zinc and 0.714% copper (243.45 g/t silver equivalent) from 52.0 to 54.0 m.

Near the bottom of the hole, the final 2.0 meters, from 98.0 to 100.0 meters, averaged 4.18% zinc and 3.44 g/t silver. Further drilling is required to determine the continuity of the mineralization and its relationship to the broader emerging polymetallic system.

Drill hole CO-0019 intersected 10.0 m grading 183.62 g/t silver, 0.59 g/t gold and 233 ppm bismuth (239.65 g/t silver equivalent) from 3.0 to 13.0 m, including 2.0 m grading 506.50 g/t silver and 1.08 g/t gold (600.04 g/t silver equivalent) from 4.0 to 6.0 m (Table 1; Figure 2).

Mineralization is predominantly hosted within a broad andesitic volcanic sequence containing two distinct styles of mineralization (Figure 3).

Deeper zinc-lead-silver mineralization: At depth, the hole intersected a broad zone of zinc-lead-silver mineralization, indicative of metal zonation within the hydrothermal system, with higher-temperature silver-gold mineralization surrounded by lower-temperature zinc-rich halos. Mineralization continues to the bottom of the hole. Further drilling is required to determine its full extent, continuity, and economic potential.

With both holes ending in mineralized rock and the release calling for additional drilling to define the zone's extent and continuity, upcoming results from the ongoing Phase 2 program along the Jalsuri North corridor are the near-term items to watch.

Table Notes

Table 1 presents silver-dominated intersections with associated gold (Au), bismuth (Bi), copper (Cu), lead (Pb), zinc (Zn) and antimony (Sb), together with silver equivalent (AgEq). Table 2 presents zinc-dominated intersections with associated silver (Ag), gold (Au), bismuth (Bi), copper (Cu), lead (Pb) and antimony (Sb), together with zinc equivalent (ZnEq).

Notes to Table 1:

1. Silver equivalent ("AgEq") and zinc equivalent ("ZnEq") grades were calculated using 2025 average metal prices reported by the U.S. Geological Survey: US$38.00 per ounce for silver (Ag), US$1.30 per pound for zinc (Zn), US$3,300 per ounce for gold (Au), US$4.80 per pound for copper (Cu), US$20.00 per pound for bismuth (Bi), US$1.06 per pound for lead (Pb), and US$25.00 per pound for antimony (Sb).
2. Recoveries of 90% have been assumed for all metals for illustrative exploration purposes. The Cosuño Project is at an early exploration stage, and no metallurgical test work has been completed to establish metal recoveries. Metal-equivalent calculations are used solely as an exploration tool to assist in evaluating and reporting drill intercepts; they do not represent an estimate of recoverable metal content, net smelter returns or economic value.
3. Reported intervals represent core lengths. True widths have not yet been determined.
4. Silver intersections were calculated using a cutoff grade of 10 g/t silver, with sub-intervals reported at 30, 60 and 90 g/t silver. Reported intervals may include internal dilution.
5. Zinc intersections were calculated at cutoff grades of 0.10% zinc, with sub-intervals at 0.50% and 1.00% zinc. The intervals may include some internal dilution.

Figures

Figure 1 — Cosuño Project 3D plan view map showing drill collars.
Figure 2 — Jalsuri North plan map showing cross-section lines.
Figure 3 — Cross-section of drill hole CO-0019.
Figure 4 — Core from hole CO-0019, from 4.0 to 13.0 m, described as 10 m @ 254.21 g/t silver equivalent (194.69 g/t silver, 0.63 g/t Au, 256 ppm Bi, 0.0531% copper, 0.0945% lead, 0.0231% zinc and 329 ppm antimony): a light-gray mineralized structure, strongly silicified, with abundant narrow silica veinlets, disseminated sulfides, and localized sulfide concentrations exceeding 5.0%.

The figures accompany the original release, published via Newsfile Corp..

Qualified Person

The technical information contained in this news release has been reviewed and approved by Dr. Stewart D. Redwood, PhD, FIMMM, a Director of the Company and a Qualified Person as defined under National Instrument 43-101 — Standards of Disclosure for Mineral Projects. As Dr. Redwood is a director of the Company, he is not independent under National Instrument 43-101.

QA/QC

The work program was designed and supervised by Gonzalo Lemuz, P.Geo., the Company's Chief Operating Officer, who was responsible for all aspects of the work, including the Quality Assurance and Quality Control (QAQC) program. On-site personnel at the project rigorously collect and track samples, which are then security sealed and shipped to the ALS laboratory in Oruro for sample preparation. The core samples were prepared by ALS at its laboratory in Oruro, Bolivia, and the sample pulps were shipped to its laboratory in El Callao, Peru, for analysis. ALS is accredited to ISO/IEC 17025:2017 and ISO 9001:2015 and is independent of BP Silver. Silver and multi-elements were analysed by aqua regia digestion and ICP-MS finish. Gold was analysed by fire assay and AA finish. BPAG inserted certified standard reference materials (CSRM), blanks and duplicates to monitor QAQC. All diamond drill holes were drilled in HQ-diameter core, and the average core recovery was 95% for CO-0012 and 97% for CO-0013.

About BP Silver Corp.

BP Silver Corp. is a Canadian exploration company focused on advancing high-grade silver projects in Bolivia. The Company's flagship asset, the Cosuño Project, is strategically located in the prolific Bolivian silver belt, a region with a rich mining history and significant untapped discovery potential. The project lies in Potosí, Bolivia, near world-class deposits such as Cerro Rico and San Cristobal.

Surface sampling at Cosuño has returned silver grades of up to 1,035 g/t Ag, with significant base-metal by-products. Following its TSX Venture Exchange listing in September 2025 under the ticker "BPAG," the Company initiated and completed the first-ever diamond drilling program at the project between November and December 2025. The Phase 1 program comprised eleven diamond drill holes totaling 906 metres, testing four high-priority targets across an approximately 10.5 km² hydrothermal alteration system characterized by geochemical anomalies, strong alteration and brecciation — features typical of major Bolivian silver systems.

With a strong technical team and a disciplined exploration strategy, BP Silver is pursuing the discovery and development of major silver deposits in one of the world's richest yet underexplored silver regions.

Additional information is available at

For further information, please contact: Tim Shearcroft, Chief Executive Officer — 604-256-5096 — Info@BPSilverCorp.com

Cautionary Statement Regarding Forward-Looking Information

Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: future prices and the supply of silver and other precious and other metals; future demand for silver and other valuable metals; inability to raise the money necessary to incur the expenditures required to retain and advance the property; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; risks of the mineral exploration industry; delays in obtaining governmental approvals; and failure to obtain necessary regulatory or shareholder approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in those statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The source version of this press release is available via Newsfile Corp..