Silver Storm Mining Ltd. (TSX-V:SVRS) (FSE:SVR) is pleased to announce the closing of its previously announced “bought deal” private placement for gross proceeds of C$13,766,250, which includes the proceeds from the partial exercise of the Underwriter’s over-allotment option. Pursuant to the Offering, the Company sold 55,065,000 units of the Company at a price of C$0.25 per Unit. Red Cloud Securities Inc. acted as sole underwriter and bookrunner in connection with the Offering.

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole Warrant entitles the holder to purchase one common share of the Company at a price of C$0.35 at any time on or before September 22, 2028.

The Company now has sufficient liquidity and intends to use the net proceeds from the Offering to advance the restart of the La Parrilla Silver Mine Complex in Durango, Mexico as well as for general corporate purposes and working capital, as is more fully described in the Offering Document (as defined herein).

In accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), 51,200,000 Units were sold to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The Unit Shares and Warrant Shares underlying the LIFE Units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The remaining 3,865,000 Units were sold to purchasers (i) in Canada by way of the “accredited investor” and “minimum amount investment” exemptions under NI 45-106, (ii) in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and (iii) in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws such that no prospectus, registration statement or other similar document were required to be filed in such jurisdiction. The Unit Shares, Warrants and Warrant Shares underlying the Non-LIFE Units are subject to a statutory hold period in accordance with applicable Canadian securities law and may not be traded until January 23, 2026, except as permitted by applicable securities legislation and the policies of the TSX Venture Exchange.

As consideration for their services, the Underwriter received aggregate cash fees of C$824,475 and 3,297,900 non-transferable common share purchase warrants. Each Broker Warrant is exercisable into one common share of the Company at the Offering Price at any time on or before September 22, 2028. The Broker Warrants and Broker Warrant Shares are subject to a statutory hold period in accordance with applicable Canadian securities law and may not be traded until January 23, 2026, except as permitted by applicable securities legislation and the policies of the TSXV.

There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.silverstorm.ca.

The closing of the Offering remains subject to the final approval of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Silver Storm Mining Ltd.

Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. In 2023 Silver Storm acquired 100% of the La Parrilla Silver Mine Complex, a prolific past producing operation comprised of a 2,000 tpd mill as well as five underground mines and an open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds a 100% interest in the San Diego Project, which is among the largest undeveloped silver assets in Mexico. For more information regarding the Company and its projects, please visit our website at www.silverstorm.ca.