Quarterly Activities and Cash Flow Report

• Permitting workstreams advanced, including environmental and heritage studies
• Engineering partner appointed to transition Paris project to construction
• Infill and extensional drilling programs initiated
• Strengthened team with key appointments
• Strong cash position of $58.8m at quarter end

Investigator Silver Ltd reported substantial advancements in its Paris Silver Project, transitioning from study to execution phase. Key milestones include the completion of environmental, technical, and heritage studies, and the appointment of an engineering partner to progress the project from Definitive Feasibility Study (DFS) to a construction-ready phase. Drilling programs have commenced to validate and expand the mining inventory, and the team has been bolstered with key appointments in finance, engineering, and operations. The company's strong cash position of $58.8 million at the end of the quarter supports ongoing development activities.

The company plans to focus on permitting, project execution, exploration, and financing in the coming quarter to advance the Paris Silver Project towards development.