First Andes Silver Closed First Tranche Of Private Placement

(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - July 16, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or First Andes") today announced that is has closed the first tranche of its previously announced non-brokered private placement financing (see news release dated July 4, 2025 and July 15, 2025) (the "Offering") by issuing 10,170,000 units ("Units") at a price of $0.10 CAD per unit for gross proceeds of $1,017,000.

Each Unit consists of one common share of the Company (a "Share") and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant will be exercisable at $0.15 CAD per Share for a period of two (2) years from the date of issue.

The securities issued under the first tranche of the Offering are subject to restrictions on resale for a period of four (4) months from the date of issue. The Company paid a finder's a fee of $42,350 and 423,500 share purchase warrants with each finder's warrant exercisable at a price of $0.10 per share for a period of two (2) years from the date of issue.

The proceeds of the first tranche will be used to expand on its current drill program at the Santas Gloria silver property and general working capital purposes. The Company anticipates the second tranche of the Offering will close within seven calendar days and is subject to accept of the TSX Venture Exchange.

About First Andes Silver Ltd.

First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 55 km east of Lima, Peru. Santas Gloria has excellent established road access and is situated within a well-known intermediate sulfidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface, which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025.

MENAFN16072025004218003983ID1109811441