Highlander Silver Announces $9.2 Million Strategic Financing by the Lundins, Richard Warke and Eric Sprott

VANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Highlander Silver Corp. (CSE:HSLV) (the "Company" or "Highlander Silver") is pleased to announce that it has negotiated a $9.2 million fully subscribed offering of common shares (the "Offering") with members of the Lundin family, Richard Warke and Eric Sprott.

The Offering is comprised of 20,514,222 common shares of the Company at a price $0.45 per share for gross proceeds of $9,231,400.

Highlander Silver President and CEO, David Fincham stated, "We very much appreciate the continued support from Richard Warke and the Lundin family, and we are delighted to welcome Eric Sprott as a new strategic investor in Highlander. The funds from this private placement will go towards advancing technical and community work focused on unlocking value at the bonanza grade gold silver San Luis project in Peru to the benefit of all our stakeholders."

The Company plans to use the net proceeds to finalize the acquisition of the San Luis gold-silver project located in Ancash Department of central Peru ("San Luis"), surface geological work and drill target definition at San Luis, and general corporate purposes. As communicated in our March 28, 2024 news release, closing of the share purchase agreement dated November 29, 2023 with SSR Mining Inc. to acquire San Luis is now expected to occur in May 2024.

The Offering is subject to CSE approval and the securities issued pursuant to the Offering will be subject to a statutory hold period of four months from the date of issuance.

Highlander Silver

Highlander Silver Corp., backed by the Augusta Group, the Lundin Family and Eric Sprott, is a mineral exploration company focused on the discovery of exceptional silver-gold projects in the Central Andes, leveraging the team's significant technical and operational experience in Peru and South America more widely. Currently, the Company is developing the La Estrella project in central Peru. Highlander Silver announced entering into a share purchase agreement for the San Luis project from SSR on November 29th 2023. Closing of the Transaction is subject to certain conditions, including receipt of all required regulatory approvals. Closing is currently expected to occur in Q2 2024.