Star Metro - Nova Scotia Silver Explorer TruSilver Metals Corp. Anticipates TSXV Trading Under "TAG" on October 27

As announced on October 9, 2026, the TSX Venture Exchange (the "Exchange") granted conditional approval of the QT on October 7, 2026, and TruSilver completed its concurrent financing for aggregate gross proceeds of $2,830,090 (the "Concurrent Financing"), with all outstanding subscription receipts converting on October 8, 2026.

Highlights

• Trading of the Resulting Issuer's shares is expected to begin on the Exchange under the symbol "TAG" on or about October 27, 2026, subject to final Exchange acceptance.
• Final filing statement dated October 15, 2026 filed on SEDAR+.
• Closing of the QT anticipated on or about October 20, 2026.

Filing Statement and Technical Report

Galaxy has filed its final filing statement dated October 15, 2026 (the "Filing Statement") in connection with the QT, prepared in accordance with Exchange Policy 2.4 - Capital Pool Companies. The Filing Statement contains details on the QT, TruSilver, the Sturgis-Walton Silver Project and the Resulting Issuer. Galaxy has also filed an independent NI 43-101 technical report on the Sturgis-Walton Silver Project, effective October 7, 2026, prepared by David Murray, P.Geo., an independent qualified person. Both documents are available under Galaxy's profile on SEDAR+ at www.sedarplus.ca.

Anticipated Closing and Listing

Galaxy and TruSilver expect to complete the QT on or about October 20, 2026. Following closing and receipt of final Exchange acceptance, the common shares of the Resulting Issuer are expected to begin trading on the Exchange under the symbol "TAG" on or about October 27, 2026. The Resulting Issuer is expected to be listed as a Tier 2 Mining Issuer. The Exchange will publish a bulletin confirming final acceptance and the date trading begins.

Trading in Galaxy's common shares has been halted since April 28, 2026, when Galaxy announced its letter of intent with TruSilver, and is expected to remain halted until the Resulting Issuer's shares begin trading.

Consolidation and Name Change

Immediately before closing, Galaxy will consolidate its common shares on the basis of one post-consolidation share for every 2.5 pre-consolidation shares (the "Consolidation"). Galaxy currently has 8,326,600 common shares and 500,000 stock options outstanding. After the Consolidation, Galaxy expects to have approximately 3,330,640 common shares and 200,000 stock options (exercisable at $0.25 per share) outstanding, subject to minor adjustments for rounding. No fractional shares will be issued; fractions will be rounded to the nearest whole share.

At closing, Galaxy will change its name from "Galaxy Ventures Inc." to "TruSilver Metals Corp." (the "Name Change").

Terms of the Qualifying Transaction

The QT will be completed under the amalgamation agreement dated May 29, 2026, as amended August 26, 2026, September 25, 2026 and October 1, 2026, among Galaxy, its wholly owned subsidiary 1590566 B.C. Ltd. ("Subco") and TruSilver. TruSilver and Subco will amalgamate, and the amalgamated company will continue as a wholly owned subsidiary of Galaxy. Galaxy will issue one post-Consolidation common share for each of the 39,214,038 outstanding TruSilver common shares. Outstanding TruSilver options and warrants will become exercisable for common shares of the Resulting Issuer on the same terms.

Capitalization of the Resulting Issuer

On completion of the QT, the Resulting Issuer is expected to have the following securities outstanding:

⁽¹⁾ Comprises 200,000 former Galaxy options exercisable at $0.25 and 2,850,000 TruSilver options exercisable at $0.10 to $0.25.

Escrow and Resale Restrictions

• CPC escrow: 1,408,000 post-Consolidation common shares held by Galaxy's current Principals will remain in escrow under Galaxy's CPC escrow agreement, with 25% released on the Exchange's final bulletin and 25% every six months thereafter. 200,000 options held by Galaxy's current Principals will remain in escrow under Galaxy's CPC escrow agreement, with 100% released on the Exchange's final bulletin
• Value escrow: 18,323,327 common shares, 800,000 warrants and 2,375,000 options held by Principals of the Resulting Issuer will be held under an Exchange Tier 2 escrow agreement with Endeavor Trust Corporation. 10% will be released on the Exchange's final bulletin and 15% every six months thereafter over 36 months.
• Other resale restrictions: A further 11,050,611 common shares and 285,440 warrants will be subject to contractual lock-ups of between four months and 36 months.

Full escrow details are set out in the Filing Statement.

Use of Proceeds

The proceeds will fund drilling and other exploration at the Sturgis Walton Silver Project in Nova Scotia, Canada and general working capital, as described in the Filing Statement.

Remaining Closing Conditions

Completion of the QT remains subject to customary closing conditions, including:

• completion of the Consolidation and Name Change;
• completion of the amalgamation of Subco and TruSilver;
• execution of the required escrow agreements;
• each party's performance of its covenants, and the accuracy of its representations and warranties, under the amalgamation agreement; and
• final acceptance of the QT by the Exchange, including the Resulting Issuer meeting the Exchange's initial listing requirements for a Tier 2 Mining Issuer.

Under the conditional approval, Galaxy must fulfil all of the Exchange's requirements on or before December 31, 2026.

Board and Management

As described in the October 9, 2026 news release, on closing:

• the board of directors of the Resulting Issuer is expected to consist of Michael Gross, Peter Hancock, Matt Rees, William White and Penelope White;
• Michael Gross will serve as President and Chief Executive Officer;
• Yucai (Rick) Huang will serve as Chief Financial Officer and Corporate Secretary;
• the audit committee will consist of Peter Hancock, Michael Gross and Matt Rees; and
• the current directors and officers of Galaxy will resign.

Crowe MacKay LLP, Galaxy's current auditor, will remain the auditor of the Resulting Issuer. Endeavor Trust Corporation will act as transfer agent and registrar.

About TruSilver Metals Corp.

TruSilver Metals Corp. owns 100% of the Sturgis-Walton Silver Project in Nova Scotia, free of a net smelter return royalty (NSR), adjacent to the historic Walton Mine, where historical sources report mined ore head grades of 350-933 g/t silver (Ag).¹ Overlapping magnetic, gravity and audio-magnetotelluric anomalies define a priority exploration target that, together with historic drilling, downhole geophysics and 3D modelling, is guiding the Company's planned 2026/27 diamond drilling program of 3,500 metres across five holes to test for mineralization at depth. The initial drilling target has been defined, and a drilling permit is in place. Contract negotiations with the drilling contractor are underway, with drilling expected to begin in early November 2026. In late 2025, Rio Tinto Exploration Canada Inc. staked all open mineral claims in the Minas sub-basin, comprising 2,363 claims under 30 exploration licences, thereby surrounding the Sturgis-Walton Silver Project. Rio Tinto is not affiliated with TruSilver, and its activities are not indicative of mineralization on TruSilver's property.

TruSilver's team combines decades of exploration, mine-development and capital-markets experience, with current or former lead technical and board roles at IAMGOLD, Noranda-Falconbridge, Glencore, Sherritt International and Sibanye-Stillwater, as well as co-founding Tiger Gold. Team members contributed to the discovery or acquisition of over 30 million ounces of gold and led completion and initial ramp-up of a US$7 billion nickel project. The team brings strong knowledge of the Sturgis-Walton region, Nova Scotia's geology and regulatory environment, and deep expertise in applying modern exploration technologies, including artificial intelligence.

For more information, visit www.TruSilverMetals.com.

¹ Historical information, as summarized in the Technical Report. Source: Nova Scotia Department of Natural Resources Mineral Inventory files (O'Reilly, 2007; Boyd and Cole, 1979). The silver grades are a range of historical head grades reported for ore mined at the Walton Mine, not a single verified average production grade. Neither the Technical Report's author nor TruSilver's Qualified Person has independently verified these historical production figures, and they should not be relied upon. The Walton Mine is not owned by TruSilver, and mineralization on adjacent properties is not necessarily indicative of mineralization on TruSilver's property.

Qualified Person

Matt Rees, M.Sc., P.Geo., a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release. Mr. Rees is a director of TruSilver and is not independent.

For further information, please see the Filing Statement and the Company's other disclosure documents available under its profile on SEDAR+ at www.sedarplus.ca.

ON BEHALF OF THE BOARD

"Andrew Thomson"

Andrew Thomson
President, Chief Executive Officer and Director
Galaxy Ventures Inc.
Telephone: 604-417-2999
Email: [email protected]

Cautionary Information

Completion of the Qualifying Transaction is subject to a number of conditions, including final Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws, including statements about:

• the anticipated closing date of the QT and final Exchange acceptance;
• the Consolidation and Name Change;
• the expected date trading begins and the trading symbol of the Resulting Issuer;
• the expected capitalization, escrow, ownership and available funds of the Resulting Issuer;
• the board and management of the Resulting Issuer; and
• the timing of TruSilver's planned drilling program.

Forward-looking information reflects management's current expectations and assumptions, including that the remaining closing conditions will be satisfied and final Exchange acceptance will be received on the anticipated timeline. Actual results may differ materially because of:

• failure to satisfy closing conditions;
• delays in obtaining final Exchange acceptance;
• changes in market conditions;
• permitting or contractor delays; or
• other unforeseen events.

Readers should not place undue reliance on forward-looking information, which is provided as of the date of this news release. Galaxy undertakes no obligation to update it except as required by applicable law.

SOURCE: Galaxy Ventures Inc.

View the original press release on ACCESS Newswire

S.Lapointe--SMC