Announcement • Jul 21
Blende Silver Corp. Receives Five-Year Class 3 Mining Land Use Approval for Blende Project in Yukon Blende Silver Corp. had been granted a Class 3 Quartz Mining Land Use Approval (Approval No. LQ00608) for its 100%-owned Blende Silver-Zinc-Lead Project in north-central Yukon by the Yukon Department of Energy, Mines and Resources. The approval is effective July 13, 2026, and is valid through July 12, 2031, providing the company with a five-year permitting window to conduct advanced exploration across the project. The Class 3 approval represents the final major permit required for the company to execute its planned multi-year exploration programs at Blende and covers all 260 quartz claims comprising the project. The approval includes a five-year term (July 13, 2026 to July 12, 2031) covering all 260 quartz claims, diamond drilling approved across the project area, operating season of February 1 to September 15 annually, camp facilities for up to 50 persons, supporting up to 11,300 person days of work, permitted airstrip (25,000 m2), upgrading of 5 km of existing access and construction of 2 km of new road, winter access via the Wind River Winter Road (two round trips per year), and on-site fuel storage sufficient to support sustained drilling and camp operations. New Risk • Jul 19
New major risk - Revenue and earnings growth Earnings have declined by 4.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (35% average weekly change). Earnings have declined by 4.7% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$13.9m market cap, or US$9.91m). Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Significant insider selling over the past 3 months (CA$424k sold). Recent Insider Transactions • Jun 04
Insider recently sold CA$231k worth of stock On the 1st of June, James Francis Callaghan sold around 840k shares on-market at roughly CA$0.27 per share. This transaction amounted to 5.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$386k more than they bought in the last 12 months. 
