Silver47
Silver47 Exploration Corp. is a Vancouver-based, TSXV-listed mineral exploration company developing high-grade silver and polymetallic critical-mineral projects across Alaska, Nevada, New Mexico, Yukon, and British Columbia. It serves institutional and retail investors through public equity markets and sells collectible silver rounds directly to consumers.
- Company typePublic
- Founded-
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Silver47 does
Silver47 Exploration Corp. is a Vancouver-based, TSX Venture-listed (TSXV:AGA; OTCQX:AAGAF; FRA:QP2) mineral exploration company developing high-grade silver and polymetallic critical-mineral projects across North America. The company holds six core exploration assets: the flagship Red Mountain Project in Alaska (approximately 620 sq km on Alaska state-managed lands), the Hughes Project in Nevada's historic Tonopah Mining District (including the Belmont tailings resource), the Mogollon Project in New Mexico, the Kennedy Project in Nevada, plus the Canadian Adams Plateau (BC) and Michelle (Yukon) projects. Combined resources total 236 Moz AgEq at 334 g/t AgEq Inferred and 10 Moz at 333 g/t AgEq Indicated, with an articulated goal of reaching 1 billion oz AgEq.
The company's core technology is industry-standard mineral exploration and metallurgical evaluation, including RC pre-collars with diamond core tails, agitated cyanide leach tests, and CIL testwork. Differentiation is anchored on geological domain specialization — specifically the first comprehensive modern evaluation of the historic Belmont tailings at Hughes (1.8 Moz silver and 11 koz gold inferred) and systematic targeting of the Ruby/Sapphire/Emerald zones 1.3-4+ km east of the historic Tonopah district. Capital structure as of September 2025 includes 208.6M common shares, 14.3M options, 68.7M warrants, nil debt, and approximately $50-54M working capital. Management is led by CEO Galen McNamara (PDAC Bill Dennis Prospector of the Year awardee, co-founder of Goldshore Resources and Sanu Gold) and Executive Chairman Gary R. Thompson.
The business model is pre-revenue with two streams: (1) the primary economic engine is future mineral production and sale of silver, gold, zinc, lead, copper and critical minerals (gallium, vanadium, indium, antimony) once extraction begins, monetized via offtake or production financing; (2) a secondary direct-to-consumer e-commerce channel selling 1 oz .999 fine silver collectible rounds (~$69.75 USD / $96.50 CAD per unit, limited mintage, IRA-eligible, produced by First Mint in Nevada) to retail collectors and stackers. The capital-markets go-to-market targets institutional and retail investors via SEDAR/TSX-V disclosures, AGM, and corporate presentations. In August 2026, Silver47 announced an all-share merger with Bunker Hill Mining Corp. valued at US$163M, intended to combine Bunker Hill's operational Idaho mine with Silver47's exploration portfolio into a 'Made in America' silver and critical minerals producer, pending approvals by November 2026.
Silver47 firmographics
Firmographics- Name
- Silver47
- Legal name
- Silver47 Exploration Corp.
- Website
- https://silver-47.com
- Company type
- Public
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Silver47 Exploration Corp. is a Vancouver-based, TSXV-listed mineral exploration company developing high-grade silver and polymetallic critical-mineral projects across Alaska, Nevada, New Mexico, Yukon, and British Columbia. It serves institutional and retail investors through public equity markets and sells collectible silver rounds directly to consumers.
- Ownership category
- akta.pro rank
Silver47 industry classification
Industry- Product category
- Silver Mining Exploration
- NAICS
- Gold Ore and Silver Ore Mining (21222)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Silver Mining (IMAKAEAB)
- akta.pro secondary industries
- Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Precious Metals Exploration & Project Development (IMAKAEAI)
Keywords
Where Silver47 is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Silver47 business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Mineral Exploration Assets: Pre-revenue exploration stage company. Primary value is in developing mineral resources. Revenue will be generated from production and sale of silver, gold, and critical minerals once extraction begins.
- Collectible Silver Rounds: Secondary revenue stream from direct sales of 1 oz .999 fine silver collectible rounds. Limited mintage collectible products sold through e-commerce storefront. Sold at premium pricing (~$69-96 per ounce) targeting collectors and stackers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Single collectible silver round product |
| Unit Pricing | Pay-as-you-go | USD pricing tier |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels7 records
Silver47 product offering
Product offeringCore offering
Silver47 Exploration Corp. is a mineral exploration company that explores and develops high-grade silver and polymetallic mineral projects across North America, with a portfolio of six core projects (Red Mountain in Alaska, Hughes and Kennedy in Nevada, Mogollon in New Mexico, Adams Plateau in British Columbia, and Michelle in the Yukon) totaling 236 Moz AgEq Inferred and 10 Moz AgEq Indicated resources. The company additionally sells 1 oz .999 fine silver collectible rounds through a direct-to-consumer e-commerce channel. Pre-revenue exploration is funded by capital markets; future revenue will derive from mineral production and offtake of silver, gold, zinc, lead, copper, and critical minerals including gallium, vanadium, indium, and antimony.
Product overview
Silver47 is a mineral exploration company with a portfolio of advanced silver and critical mineral projects across North America. The company operates six core exploration projects: the Red Mountain Project (flagship) in Alaska, the Hughes Project in Nevada's historic Tonopah Mining District, the Mogollon Project in New Mexico, the Kennedy Project in Nevada, the Adams Plateau Project in British Columbia, and the Michelle Project in the Yukon. Additionally, the company offers a branded collectible silver round product (1 oz .999 fine silver). The combined resource base totals 236 million ounces of Silver Equivalent at 334 g/t Inferred and 10 million ounces at 333 g/t Indicated.
Differentiator
Problem solved
Functional benefit
Products and services
- Red Mountain Project Silver47's flagship mineral exploration asset located 100 kilometers south of Fairbanks, Alaska, covering approximately 620 square kilometers of highly prospective geology on a 60 km trend. The project offers district-scale polymetallic opportunity for silver and critical minerals on Alaska state-managed lands with existing highway, rail, and power infrastructure.
- Hughes Project Mineral exploration project located in Nevada's historic Tonopah Mining District, covering 5 km of the district's eastern extension. The project features high-grade silver-gold epithermal vein mineralization and includes the first comprehensive modern metallurgical evaluation of historic Belmont tailings with inferred 1.8 Moz silver and 11 koz gold, targeting potential low-cost production from reprocessing.
- Mogollon Project Past-producing silver-gold epithermal vein mineral exploration project located 120 km from Silver City in southwestern New Mexico, covering an extensive vein field in the largest historic silver producing region in the state.
- Kennedy Project Mineral exploration project in Nevada featuring approximately 22 km of traced veins covering most of a historic mining district where gold and silver was produced intermittently from high-grade veins until World War II. Recent high-grade rock sample results were reported in 2026 from the expanded property.
- Adams Plateau Project Mineral exploration project for SEDEX-VMS type polymetallic deposits located approximately 40 km north of Chase, British Columbia, and 100 km northeast of Kamloops, covering 150 square kilometers. Targets include silver, copper, gold, zinc, lead, graphite, and antimony.
- Michelle Project District-scale silver-rich Mississippi Valley Type (MVT) SEDEX mineral exploration project in the Yukon, Canada, covering 158 square kilometers with 23 identified mineralized targets including significant critical minerals such as gallium, vanadium, indium, antimony, and copper. Acquired from Silver Range Resources in 2022.
- Silver47 1 oz .999 Fine Silver Collectible Round Limited-mint collectible silver round crafted from one troy ounce of .999 fine silver with brilliant uncirculated finish. IRA-eligible and priced at $69.32 USD or $96.50 CAD per round. Inspired by Howard Hughes' precision engineering legacy and shipped within Canada and the United States.
Quantifiable outcome
- 236 Moz AgEq Inferred + 10 Moz AgEq Indicated resources
- +3 more outcomes
Companies that use Silver47
Customer profileSegments3 records
Ideal customer profiles3 records
Silver47 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Silver47 partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Bunker Hill Mining Corp.flagshipAll-share merger transaction combining Bunker Hill's operational mine in Idaho with Silver47's portfolio of U.S. silver and critical mineral exploration assets. Values Silver47 at approximately US$163 million. Creates diversified 'Made in America' mining champion. Combined entity will operate from Idaho, leveraging Bunker Hill's imminent commercial production cash flow to fund Silver47's high-grade projects in Nevada, Alaska, and New Mexico. Pending shareholder and regulatory approvals expected by November 2026.
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
Silver47 competitors and assessment
Company assessmentBroad incumbents
- Coeur Mining, Inc. Diversified US-focused silver and gold producer with operations across North America. Comparable as a US silver producer and provides a benchmark for valuation, permitting, and operating experience in similar jurisdictions.
- Hecla Mining Company: Largest US-focused silver producer with operations in Idaho, Alaska, and Quebec. Directly comparable given US silver asset base, polymetallic byproduct exposure, and relevance to US critical minerals positioning.
- First Majestic Silver Corp. Established silver producer operating multiple mines in Mexico. Provides a public-producer benchmark for silver asset valuations, EV/oz multiples, and operating-cost comparables relevant to Silver47's future development.
Direct peers
- SilverCrest Metals Inc. High-grade silver-gold developer (Las Chispas mine). Closely comparable as a high-grade silver developer that progressed from exploration through construction to production, providing a peer benchmark for Silver47's development trajectory.
- Alexco Resource Corp. Silver-focused explorer and developer in Yukon's historic Keno Hill district. Direct comparable given Silver47's Michelle project in Yukon and its silver-rich MVT/SEDEX targeting.
- Dolly Varden Silver Corporation: Silver-focused explorer-developer operating in BC's Golden Triangle and Kitsault Valley. Closely comparable as a high-grade silver junior developing deposits in tier-one Canadian jurisdictions.
- MAG Silver Corp. High-grade silver developer focused on the Juanicipio project in Mexico. Comparable as a silver-focused developer with concentrated high-grade resource and clear path to production.
- Brixton Metals Corporation: Polymetallic/silver-focused BC explorer with high-grade epithermal targets. Silver47 Executive Chairman Gary Thompson is also Chairman and CEO of Brixton Metals, making it an exceptionally close operational and strategic comparable.
- Bunker Hill Mining Corp. Announced all-share merger partner (August 2026). Operates a silver/lead/zinc mine in Idaho with imminent commercial production — directly comparable as a silver-focused developer with US asset base that will combine with Silver47 post-close.
Emerging players
- Goldshore Resources Inc. Gold-focused explorer co-founded by Silver47 CEO Galen McNamara. Comparable as a junior explorer led by the same management team, with overlapping capital markets relationships and exploration execution playbooks.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Silver47 social profiles
Digital presenceSilver47 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Silver47 leadership team
Management profileNumber of profiles
Profiles7 records
Silver47 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Silver47 M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Silver47
What does Silver47 do?
Silver47 Exploration Corp. is a mineral exploration company that explores and develops high-grade silver and polymetallic mineral projects across North America, with a portfolio of six core projects (Red Mountain in Alaska, Hughes and Kennedy in Nevada, Mogollon in New Mexico, Adams Plateau in British Columbia, and Michelle in the Yukon) totaling 236 Moz AgEq Inferred and 10 Moz AgEq Indicated resources. The company additionally sells 1 oz .999 fine silver collectible rounds through a direct-to-consumer e-commerce channel. Pre-revenue exploration is funded by capital markets; future revenue will derive from mineral production and offtake of silver, gold, zinc, lead, copper, and critical minerals including gallium, vanadium, indium, and antimony.
Is Silver47 a public or private company?
Silver47 is a public company. It is classified as public and is currently operating.
When was Silver47 founded?
Silver47 was founded in -1. It employs 11 to 50 people.
Where is Silver47 based?
Silver47 is headquartered in Vancouver, Canada, in the North America region.
How does Silver47 make money?
Two revenue lines are on record. Mineral Exploration Assets are the primary driver. The others are collectible Silver Rounds.
Who are Silver47's main competitors?
Broad incumbents on record are Coeur Mining, Inc., Hecla Mining Company and First Majestic Silver Corp.. Direct peers are SilverCrest Metals Inc., Alexco Resource Corp., Dolly Varden Silver Corporation, MAG Silver Corp., Brixton Metals Corporation and Bunker Hill Mining Corp.. Goldshore Resources Inc. is listed as an emerging player.
Does Silver47 have an API?
No public API is recorded for Silver47.
What industry is Silver47 in?
Silver47's product category is Silver Mining Exploration. Its primary akta.pro industry code is IMAKAEAB, Silver Mining, with a secondary code of IMAKAFAL, Exploration & Resource Development (Critical Minerals). Its NAICS code is 21222 and its SIC code is 1040.