Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Capitan Silver Corp. (TSXV: CAPT) ("Capitan" or the "Company") is pleased to announce that it has entered into a subscription agreement with Schroder Investment Management Limited ("Schroders"), pursuant to which Schroders has agreed to purchase, on a non-brokered private placement basis, 2,955,665 common shares of the Company (the "Common Shares") at a price of C$2.03 per Common Share for gross proceeds to the Company of C$5,999,999.95 (the "Private Placement"). The Private Placement, made through the Schroders ISF Global Gold Fund, together with the recently completed $23 million "bought deal" offering under the 'listed issuer financing exemption' (the "LIFE Offering"), will result in a combined equity raise of approximately $29 million through the issuance of an aggregate of 14,288,915 Common Shares at an issuer price of C$2.03 per Common Share.