Silver Storm Mining Ltd. (TSX-V: SVRS) (OTCQB: SVRSF) (FSE: SVR), is pleased to announce drill results from its Phase 2 diamond drilling program at the Company’s 100% owned La Parrilla Silver Mine Complex, located in Durango Mexico. Results from the 14 holes (2,327 metres) contained within this release are from the Rosarios and San Carlos Zones, within the Rosarios mine.

An overview video on the La Parrilla Project is available at: www.youtube.com/watch?v=dybgKXcGrYo

Key highlights include:

Numerous high-grade intercepts were encountered within the Rosarios Mine underneath and in proximity to previous mined stopes. The current drill results, when combined with historical holes drilled by First Majestic, are expected to have a positive impact on future Mineral Resources.

• Hole RO-24-028 returned 1,306 g/t Ag.Eq¹ over 1.60 m within a broader interval of 887 g/t Ag.Eq over 2.54 m. Hole RO-24-015 returned 1,791 g/t Ag.Eq over 0.35 m within a broader interval of 711 g/t Ag.Eq over 1.03 m and 1,170 g/t Ag.Eq over 0.50 m and 1,071 g/t Ag.Eq over 1.35 m within a broader interval of 598 g/t Ag.Eq over 3.91 m.

– These high-grade intercepts are located ~ 45 m to the west a previously mined stope

• Hole RO-24-032A returned 731 g/t Ag.Eq over 1.40 m and 510 g/t Ag.Eq over 0.50 m within a broader interval of 305 g/t Ag.Eq over 5.60 m.
• Hole RO-24-034 returned 350 g/t Ag.Eq over 1.06 m, 475 g/t Ag.Eq over 0.40 m and 617 g/t Ag.Eq over 0.42 m, 396 g/t Ag.Eq over 0.40 m and 592 g/t Ag.Eq over 0.40 m and 1,085 g/t Ag.Eq over 0.50 m.

– These high-grade intercepts are located ~ 35 m under the last stope mined in this area

• Hole RO-24-026 returned 421 g/t Ag.Eq over 1.13 m and 316 g/t Ag.Eq over 1.72 m within a broader interval of 276 g/t Ag.Eq over 5.46 m. Historical hole LBT-11-01 intersected 523 g/t Ag.Eq over 0.60 m and 670 g/t Ag.Eq over 1.30 m. Hole RO-24-014 returned 285 g/t Ag.Eq over 1.02 m and 431 g/t Ag.Eq over 0.69 m. Historical hole ILP-RO-18-60 returned 1,167 g/t Ag.Eq over 1.45 m within a broader interval of 434 g/t Ag.Eq over 6.25 m.

– This high-grade area extends approximately 148 m below the last stope mined in this area and 128 m below Indicated and Inferred Resources identified by SRK

Three exploration holes confirm the continuity of the San Carlos Zone, first discovered by FM in 2015 with hole ILP-14M-15-02 returning 361 g/t Ag.Eq over 1.40 m: hole RO-24-036 returned 722 g/t Ag.Eq over 0.66 m and 284 g/t Ag.Eq over 0.50 m. The mineralization from these holes is located 135 m south of the Rosarios Zone and approximately 335 m from surface.

Greg McKenzie, President and CEO, commented: “We are pleased with the high-grade results within Central Rosarios, now with six intercepts exceeding 1,000 g/t Ag.Eq. It is important to recognize this area was predicted to be blank. The results reported today extend the high-grade mineralization up to 128 m below the Indicated and Inferred Resources identified by SRK and we anticipate the drilling will have a positive impact on future Mineral Resources, both in terms of tonnage and grade.”

Rosarios Zone

The Rosarios Zone (RO) has historically been an important part of the La Parrilla Mine Complex, characterized by a sulphide-bearing quartz-carbonate vein hosted within a fault zone striking 290 degrees and dipping 64 degrees to the northeast over a known strike length of approximately 2 km. The mineralization extends vertically for 900 m and its true width varies up to 14 m. The vein sits roughly at the northern contact of a granodiorite stock and sediments. Stockwork zones are developed either at the footwall or hanging wall of the vein; vein splays and sulphide replacement zones are typically developed in the hanging wall. The Rosarios Zone remains open along strike and at depth. The zone has been subdivided into the Western, Central, and Eastern Rosarios. Phase 1 and historical drill results from the Rosarios Zone were previously reported in the Company’s news release dated May 27, 2024. The focus of the Phase 2 drill program has been on the Central Rosarios Zone.

Central Rosarios

Holes RO-24-024 to 034 targeted the Central Rosarios Zone with the intent of providing a sufficient drilling density to identify Indicated Resources, as well as further extending Inferred Resources at depth (Figures 1, 2).

Three areas of high-grade mineralization were identified in Central Rosarios (Table 1):

Hole RO-24-028 returned 1,306 g/t Ag.Eq over 1.60 m within a broader interval of 887 g/t Ag.Eq over 2.54 m (89.70 to 92.24 m), approximately 35 m below and to the east of hole RO-24-016 which returned 498 g/t Ag.Eq over 0.5 m and 338 g/t Ag.Eq over 0.5 m within a broader interval of 181 g/t Ag.Eq over 3.52 m (78.82 to 82.34 m) and 30 m above and to the west of hole RO-24-015 (reported May 27, 2024) which returned 1,791 g/t Ag.Eq over 0.35 m within a broader interval of 711 g/t Ag.Eq over 1.03 m (75.67 to 76.70 m) and 1,170 g/t Ag.Eq over 0.50 m and 1,071 g/t Ag.Eq over 1.35 m within a broader interval of 598 g/t Ag.Eq over 3.91 m (106.94 to 110.85 m).

• This high-grade zone is located approximately 45 m to the west of previously a mined stope

Hole RO-24-032A returned 731 g/t Ag.Eq over 1.40 m and 510 g/t Ag.Eq over 0.50 m within a broader interval of 305 g/t Ag.Eq over 5.60 m (174.90 to 180.50 m). Hole RO-24-034 returned 350 g/t Ag.Eq over 1.06 m, 475 g/t Ag.Eq over 0.40 m and 617 g/t Ag.Eq over 0.42 m within a broader interval of 234 g/t Ag.Eq over 4.24 m (205.06 to 209.30 m), 396 g/t Ag.Eq over 0.40 m and 592 g/t Ag.Eq over 0.40 m within broader interval of 232 g/t Ag.Eq over 2.00 m (212.42 to 214.42 m), and 1,085 g/t Ag.Eq over 0.50 m (224.23 to 224.73 m).

• This high-grade zone is located approximately 35 m beneath the last stope mined in this area

Hole RO-24-026 returned 421 g/t Ag.Eq over 1.13 m and 316 g/t Ag.Eq over 1.72 m within a broader interval of 276 g/t Ag.Eq over 5.46 m (201.34 to 206.80 m). Historical hole LBT-11-01, approximately 47 m to the east, intersected 523 g/t Ag.Eq over 0.60 m and 670 g/t Ag.Eq over 1.30 m within a broader interval of 268 g/t Ag.Eq over 5.90 m (286.70 to 292.60 m). Hole RO-24-014 (reported May 27, 2024) returned 285 g/t Ag.Eq over 1.02 m (132.15 to 133.17 m) and 431 g/t Ag.Eq over 0.69 m (139.88 to 140.57 m) and historical hole ILP-RO-18-60 returned 1,167 g/t Ag.Eq over 1.45 m within a broader interval of 434 g/t Ag.Eq over 6.25 m (131.45 to 137.70 m).

• This high-grade zone extends approximately 148 m below the last stope mined in this area and 128 m below Indicated and Inferred Resources identified by SRK.

San Carlos Zone

The San Carlos Zone was first discovered by FM through exploration drilling in 2015 with hole ILP-14M-15-02 returning 361 g/t Ag.Eq over 1.40 m (115.45-116.85 m) (Figure 3, Table 1). Three follow-up holes were recently drilled testing continuity of the SC zone, with hole RO-24-036 returning 722 g/t Ag.Eq over 0.66 m (112.43 to 113.09 m) and 284 g/t Ag.Eq over 0.50 m (136.46 to 136.96 m) and hole RO-24-035 returning 156 g/t Ag.Eq over 0.50 m (159.95 to 160.45 m). The zone intersections in hole RO-24-035 and 036 are respectively 54 m downdip and 65 m downdip and ENE along strike from ILP-14M-15-02. The zone in RO-24-036 is 55 m ENE along strike from RO-24-035. The intercepts from these three holes are located 135 m south of the Rosarios Zone and approximately 335 m from surface, mineralization is comprised of a sulphide-bearing quartz vein zone, striking 245-255 degrees and dipping 88 degrees NNW, hosted within intensely propylitic altered sediments. San Carlos may be a fault splay from the main Rosarios Zone to the WSW into the hanging wall.

Table 1 – Select Assay Intervals from Holes RO-24-024 to RO-24-037 and Historical Results

Sample Analysis and QA/QC Program

Silver Storm uses a quality assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. The drill core is photographed, logged, and cut in half, with one half retained in a secured location for verification purposes and one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO 9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in Vancouver, Canada for analysis. The entire sample is crushed to 70% passing -2 mm, and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed for gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-gram pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by fire assay with a gravimetric finish (Au-GRA21). Samples are also analyzed using a 34 element inductively coupled plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by four acids (ME-ICP61). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values greater than 1,500 g/t, samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp (Ag-GRA21). Samples with lead values over 20% are re-assayed using volumetric titration with EDTA on a 1-gram pulp (Pb-VOL70). No QA/QC issues were noted with the results reported herein.

Review by Qualified Person and QA/QC

The scientific and technical information in this document has been reviewed and approved by Bruce Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.

About Silver Storm Mining Ltd.

Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. In August 2023 Silver Storm completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific operation which is 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.

Figure 1: Rosarios Zone Cross Section View to North of Key Results Holes RO-24-024 to 034 & Historical Holes (Graphic: Business Wire)

Figure 2: Rosarios Zone Cross Section View to North of Key Results Holes RO-24-024 to 034 & Historical Holes (Graphic: Business Wire)

Figure 3: Plan & Cross-Section View San Carlos Zone Key Results Holes RO-24-035 to 037 & Historical Holes (Graphic: Business Wire)