Silver47 Exploration Corp.
Silver47 Exploration Corp. is building a premier U.S.-focused high-grade silver developer with three core assets across Alaska (Red Mountain), Nevada (Hughes), and New Mexico (Mogollon). The Company has a sizeable treasury (~C$55M working capital) to aggressively advance all three projects through 2026 drilling and near-term resource growth catalysts.
Stock Information
Why Invest
A compelling investment opportunity backed by a high-quality asset base, disciplined capital structure, and multiple near-term catalysts that support long-term value creation.
Silver47 is building a leading high-grade U.S. silver developer
Silver47 is advancing a portfolio of core silver assets across Alaska, Nevada, and New Mexico with the goal of establishing a premier, U.S.-focused high-grade silver development platform. This jurisdictional focus offers investors leverage to silver in stable, mining-supportive regions with established infrastructure, operating expertise, and clear permitting frameworks.
Well capitalized to execute
With approximately C$55 million in working capital, the Company is positioned to advance multiple projects in parallel and sustain consistent exploration and technical momentum without near-term financing pressure, an important advantage in a market where many juniors are capital constrained.
High-grade credentials across all three assets
Each of Silver47’s core assets has returned excellent high-grade results, supporting the Company’s view that the portfolio is quality-driven rather than dependent on a single project.
Scarcity value: high-grade U.S. silver assets are rare
High-grade silver projects in mining-friendly U.S. jurisdictions are increasingly scarce, particularly those that are not already owned by a major mining company. Silver47 believes its three-asset platform offers rare exposure to this scarcity, which can become more valuable as investors and strategic buyers focus on jurisdictional quality and secure supply.
Re-rate potential on EV/oz AgEq valuation
On an enterprise value per ounce basis, the Company cites an implied EV/oz of ~US$0.41 per AgEq ounce on its total Measured, Indicated, and Inferred resource endowment. Silver47 sees potential for a re-rating as resources expand, confidence improves through upgrades, and development pathways become clearer.
Clear long-term ambition: scale to 1B oz AgEq
Silver47’s longer-term objective is to grow toward one billion ounces AgEq, anchored in America’s most prolific mining jurisdictions. This scale-focused strategy is intended to build a large, strategic silver platform with multiple avenues for growth through exploration success, resource expansion, and potential consolidation.
Timeline and Milestones
A clear, execution-driven roadmap highlighting recent achievements and upcoming milestones that advance the company from development toward value realization.
RECENTLY ACCOMPLISHED
- Merger completed with Summa Silver (Aug 1, 2025), consolidating a larger U.S.-focused resource base and improving capital markets profile (reported ~10 Moz AgEq Indicated and 236 Moz AgEq Inferred at completion).
- Red Mountain 2025 drill program completed (15 holes) focused on infill/step-out work at Dry Creek and West Tundra Flats, supporting expansion and upgrade potential.
- C$34.5M bought deal financing closed (Jan 14, 2026), strengthening the balance sheet for accelerated 2026 drilling.
UPCOMING
Silver47 is set up for a high-cadence 2026 drill-and-resource story:
- Mogollon winter drill program (early 2026) and Hughes spring drill program, followed by a summer program at Red Mountain.
- Updated resource at Red Mountain anticipated in the near term, with continued evaluation of broader project potential.
- Ongoing resource expansion drilling across all three core assets in 2026.
Projects
Red Mountain (Alaska) — VMS Polymetallic District (Ag-Au-Zn-Pb-Cu)
Red Mountain is a district-scale volcanogenic massive sulphide (VMS) system in Alaska with exposure to silver, gold, zinc, lead, and copper—a metal mix that can create multiple value drivers across commodity cycles. The project already hosts a substantial mineral resource; however, the current inferred ounces are concentrated in just two deposits (Dry Creek and West Tundra Flats), highlighting how early the district is in the broader context of its potential. Beyond those deposits, the property contains 30+ additional mineralized prospects that are not included in the resource estimate and have seen limited modern exploration. This combination—an established resource base plus a large pipeline of underexplored targets—positions Red Mountain as a scalable polymetallic opportunity with meaningful upside. Importantly, the project benefits from a favourable jurisdiction and the advantage of operating on state-managed lands, which can support clearer access, permitting pathways, and development optionality.
Hughes (Nevada) — Epithermal Silver-Gold in the Historic Tonopah District
Hughes is an epithermal vein silver-gold project in central Nevada in and around Tonopah, one of the most historically prolific silver camps in the United States. The district has a track record of scale, with historical production reported at ~175 Moz of silver and ~1.86 Moz of gold, and it remains highly supportive of mining with strong infrastructure and access. Within this proven setting, Hughes provides investors exposure to both an existing resource foundation (see the MRE summary slide for full breakdown) and clear exploration leverage: the mineralized zones remain open for expansion, and the project controls a largely unexplored ~4 km eastern extension of the broader Tonopah Mining District. In short, Hughes combines “known camp” credibility with additional runway for resource growth.
Mogollon (New Mexico) — Large-Scale Epithermal Vein Field with Rare Discovery Upside
Mogollon is an epithermal silver-gold district in New Mexico that Silver47 views as a rare, high-conviction discovery opportunity. The scale potential is reflected in the district footprint: the project hosts approximately ~77 km of cumulative strike length, yet only about ~2 km has been systematically explored to date. That gap between known endowment and modern systematic work is what makes Mogollon compelling—there is substantial room to expand and refine the resource base (see the MRE summary slide for complete resource details) while continuing to test new veins and extensions across a large, underexplored vein field. If exploration success continues, Mogollon has the potential to evolve into one of the more meaningful remaining vein districts in the United States.
People
Silver47’s deck highlights a management team with deep technical and capital markets experience, including:
Galen McNamara (CEO & Director) Geologist and company-builder; 20 years of discovery and capital markets experience, co-founder of Goldshore Resources and Sanu Gold, former Senior Project Manager at NexGen Energy, PDAC Bill Dennis Prospector of the Year Award Winner, Pivotal role in equity financings totaling over $100M since 2020.
Shareholder alignment is a differentiator: Silver47’s shareholder base includes well-known precious metals investors. Eric Sprott is the largest individual shareholder, holding approximately 8% of the outstanding common shares, and the Sprott Silver ETF is also a shareholder, with institutional/strategic holding ~19%, and management/insiders ~10% (as of Jan 14, 2026).
How Does It Compare to Peers
Silver47 offers investors exposure to a scarce category: high-grade, resource-stage silver assets in the United States. Unlike many high-grade silver developers that are single-asset stories or concentrated in higher-risk jurisdictions, Silver47 is built around three U.S.-based projects, providing diversification across assets while maintaining the grade profile that typically commands investor attention.
Attractive relative valuation on an EV/oz basis
A strong argument can be made that Silver47 is undervalued relative to its high-grade peer group. Based on a comparable basket of high-grade silver developers (Argenta, Dolly Varden, Outcrop) peers are shown trading in the range of approximately US$2.79 to US$4.47 per AgEq ounce (EV/oz), while Silver47 is presented at roughly US$0.41 per ounce in the ground.
Well funded to deliver catalysts and sustain momentum
With approximately C$55 million in working capital, Silver47 is positioned to advance multiple drill programs and resource updates without near-term financing pressure. This balance sheet strength supports consistent execution and newsflow, key ingredients for attracting incremental institutional attention and driving potential valuation step-changes.