Sprott Physical Silver Trust Net Asset Value Reaches $10 Billion

TORONTO, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Sprott Inc. (NYSE/TSX: SII) (“Sprott”) on behalf of the Sprott Physical Silver Trust (NYSE Arca/TSX: PSLV) (“PSLV” or “the Trust”) today announced that PSLV’s net asset value (“NAV”) has surpassed US$10 billion.

“This is a significant milestone for the Sprott Physical Silver Trust and we would like to thank our unitholders for their trust and support,” said John Ciampaglia, Chief Executive Officer of Sprott Asset Management. “Silver prices have recently set all-time highs and demand for physical metal is surging. We are pleased to offer investors a liquid and convenient vehicle backed by fully allocated and segregated physical silver.”

As of October 13, 2025, PSLV held 202.6 million ounces of silver on behalf of its unitholders. On September 2, 2025, the Bourse de Montreal began listing options on the TSX-listed ticker for PSLV.

PSLV was created to invest and hold substantially all of its assets in physical silver bullion. Its goal is to provide a secure, convenient and exchange-traded investment alternative for investors who want to hold physical silver without the inconvenience that is typical of a direct investment in physical gold silver. All of the silver held by PSLV is fully allocated and redeemable by investors, subject to minimum holding requirements.

About Sprott

Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and the company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII). For more information, please visit www.sprott.com.

About the Trust

Important information about the Trust, including the investment objectives and strategies, applicable management fees, and expenses, is contained in the prospectus. Please read the prospectus carefully before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Trust on the Toronto Stock Exchange (“TSX”) or the New York Stock Exchange (“NYSE”). If the units are purchased or sold on the TSX or the NYSE, investors may pay more than the current net asset value when buying units or shares of the Trust and may receive less than the current net asset value when selling them. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable United States securities laws and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”).

With respect to the forward-looking statements contained in this press release, the Trust has made numerous assumptions regarding, among other things, the silver market. While the Trust considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause the Trust's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release. A discussion of risks and uncertainties facing the Trust appears in the Trust's continuous disclosure filings, which are available at www.sec.gov and www.sedarplus.ca. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Trust disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.

Investor Contact:

Glen Williams
Senior Managing Partner
Investor and Institutional Client Relations
Direct: 416-943-4394
gwilliams@sprott.com

Media contact:

Dan Gagnier
Gagnier Communications
(646) 569-5897
sprott@gagnierfc.com

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