Vancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) (OTC Pink: SLCNF) ("Silicon Metals" or the "Company") announces that it has terminated the property option agreement with Eastfield Resources Ltd. dated December 21, 2020, as amended (the "Option Agreement"). The Option Agreement granted the Company the right to earn a 60% interest in the Hedge Hog property, located approximately 15 kilometres north of the town of Wells in the Cariboo Mining Division of British Columbia.

"As we continue to refine our strategic priorities, the decision to step back from the Hedge Hog project allows us to concentrate our efforts and capital on our other core projects with strong potential for near-term value creation," said Morgan Good, CEO of Silicon Metals. "We remain committed to advancing our portfolio and identifying high-impact opportunities aligned with our exploration and development objectives."

The Company extends its appreciation to Eastfield Resources Ltd. for its collaboration during the term of the Option Agreement.

About Silicon Metals Corp.

Silicon Metals Corp. is currently focused on exploration in western Canada, namely British Columbia. The Company holds an undivided 100% right, title and interest in the Ptarmigan Silica Project located approximately 130km from Prince George, British Columbia. The Company has also acquired an undivided 100% right, title, and interest in both the Silica Ridge Silica Project located approximately 70kms southeast from the town of MacKenzie, British Columbia, as well as the Longworth Silica Project located approximately 85km East from Prince George, British Columbia.

ON BEHALF OF THE BOARD OF DIRECTORS OF

SILICON METALS CORP.

"Morgan Good"

Morgan GoodChief Executive Officer and Director

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release).

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements that the Company's existing projects have strong potential for near-term valuation creation; and that the Company remains committed to advancing its portfolio and identifying high-impact opportunities aligned with its exploration and development objectives.

In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that management's expectations regarding the Company's existing projects will prove to be accurate; and the Company will carry out its business plans as disclosed and will advance its portfolio as disclosed.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that management's expectations regarding the Company's existing projects will prove to be inaccurate and the exploration thereof will not result in near-term value creation; that the Company's business plans will change and the Company will fail to remain committed to advancing its portfolio and identifying high-impact opportunities aligned with its exploration and development objectives; and unanticipated costs. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251489