All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.

Toronto, Ontario, January 9, 2026 – Highlander Silver Corp. (TSX: HSLV) (“Highlander Silver”) and Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) (“Bear Creek”) announce today that they have entered into an amended and restated arrangement agreement dated January 9, 2026 (the “A&R Arrangement Agreement”) amending and restating the arrangement agreement dated December 18, 2025 (the “Original Agreement”) pursuant to which Highlander Silver will acquire all of the issued and outstanding common shares of Bear Creek (the “Bear Creek Shares”) (that it does not already own) by way of statutory plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”).

The Original Agreement provided for a special meeting of Highlander Silver’s shareholders (the “Highlander Meeting”) to be held for the purposes of approving the issuance of the common shares of Highlander (the “Highlander Shares”) issuable pursuant to the Arrangement and pursuant to the exercise of the share purchase warrants of Bear Creek (the “Bear Creek Warrants”) in accordance with their terms following the Arrangement, such special meeting to be held in accordance with the policies of the Toronto Stock Exchange (the “TSX”). At the time of entering into the Original Agreement, the maximum number of Highlander Shares issuable pursuant to: (i) the Arrangement – assuming the exercise, conversion or exchange for Bear Creek Shares of all of Bear Creek’s outstanding stock options, restricted share units and deferred share units as of the date of the Original Agreement being ultimately exchanged for Highlander Shares pursuant to the Arrangement – and (ii) upon exercise of the Bear Creek Warrants in accordance with their terms following the Arrangement, in the aggregate, was expected to be in excess of 25% of Highlander Silver’s issued and outstanding share capital at the effective time of the Arrangement, such that the Highlander Meeting would be required in order to comply with the policies of the TSX. Since entering into the Original Agreement, however, a sufficient number of share purchase warrants of Highlander Silver have been exercised for Highlander Shares in accordance with their terms to the effect that the Highlander Meeting is no longer required.

Accordingly, the A&R Arrangement Agreement amends and restates the Original Agreement to remove the requirement for the Highlander Meeting and all related matters. The A&R Arrangement Agreement also now contemplates that a special meeting of Bear Creek’s securityholders to approve the Arrangement and certain other matters will be held on or before February 19, 2026, with the related meeting materials to be mailed in connection with such meeting on or about January 21, 2026. All other principal terms of the Arrangement remain in effect.

For more information on the Arrangement, please refer to the initial press release dated December 19, 2025. A copy of the A&R Arrangement Agreement will be available under Highlander Silver’s and Bear Creek’s profiles at www.sedarplus.ca.

About Highlander Silver

Highlander Silver is primarily focused on advancing the bonanza grade San Luis gold-silver project that is located adjacent to the past-producing Pierina mine in Central Peru. San Luis hosts Indicated Mineral Resources of 356 koz Au at 24.4 g/t Au and 8.4 Moz Ag at 579 g/t Ag and ranks among the 10 highest grade projects globally in both gold and silver categories.[1] Highlander Silver’s significant shareholders include the Augusta Group, which boasts an exceptional track record of value creation totaling over $4.5 billion in exit transactions, and strategic shareholders, the Lundin family and Eric Sprott.

About Bear Creek

Bear Creek is a precious metals producer with a world-class development asset. The Corani Project in Puno, Peru is one of the largest fully permitted silver deposits in the world and is highlighted by its substantial reserves and resources, low estimated operating costs and overwhelming community support. The Mercedes mine in Sonora, Mexico is a cash flow generating gold mine with operational upside and exciting exploration potential.