Silver Storm Mining Ltd. (TSX-V: SVRS) (OTC: 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 12 holes (1,502 metres) contained within this release are from the San Nicolas and C550 Zones, within the Quebradillas mine. The Company also announces the closing of the second tranche of its non-brokered private placement offering of units of the Company previously announced on December 5, 2024.

“Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico”

Key highlights include:

• Hole Q-24-054 returned 417 g/t Ag.Eq¹ over 0.50 m and 535 g/t Ag.Eq over 2.50 m within a broader interval of 302 g/t Ag.Eq over 7.00 m and Q-24-056 returned 618 g/t Ag.Eq over 1.02 m in the San Nicolas Zone.
• These two holes, combined with Q-23-024 (1,000 g/t Ag.Eq over 5.25 m within a broader interval of 689 g/t Ag.Eq over 9.39 m) and historical hole ILP-SN-19-08 (951 g/t Ag.Eq over 3.45 m within a broader interval of 530 g/t Ag.Eq over 7.50 m), define an area of high-grade mineralization which spans a minimum 38 m along strike, is open to southeast, and extends up to 70 m above the previously developed 1921 EL stope (247 g/t Ag.Eq over a strike length of 19 m and average width of 1.49 m).
• Q-24-063 returned 643 g/t Ag.Eq over 0.40 m and 468 g/t Ag.Eq over 0.50 m approximately 33 m down dip and northwest of previously reported hole Q-23-013A (663 g/t Ag.Eq over 1.00 m within a broader interval of 316 g/t Ag.Eq over 4.09 m), confirming the San Nicolas Zone extends to the southeast a minimum of 40 m beneath the last development in this area on the 1874 EL stope, with similar high-grade mineralization (332 g/t Ag.Eq over a strike length of 35 m and average width of 1.15 m).
• Q-24-065 returned 847 g/t Ag.Eq over 4.15 m within a broader interval of 565 g/t Ag.Eq over 7.20 m approximately 77 m below the last development in this area on the 1976 EL stope, with similar mineralization (223 g/t Ag.Eq over a strike length of 98 m and average width of 1.04 m), in the C550 Zone.
• Q-24-065 returned 412 g/t Ag.Eq over 2.50 m within a broader interval of 275 g/t Ag.Eq over 7.20 m at ~17 m prior to reaching the C550 Zone.

Greg McKenzie, President and CEO, commented: “We are very pleased with the results from San Nicolas and C550. At San Nicolas, through holes Q-24-054 and 056, we have extended high-grade mineralization up to 70 m above the last mined stope in the area, and this mineralization is open to the southeast. Also, with hole Q-24-063, we have confirmed high-grade mineralization extends at least 40 m beneath the last development in this area. At C550, where historical drilling is sparse, through hole Q-24-065 we have identified a high-grade zone extending 77 m below the last development in this area, as well as identified a new zone of mineralization to the south of C550. These results, when combined with historical holes drilled by First Majestic Silver Corp. (“FM”) should have a positive impact on future Mineral Resources.”

San Nicolas Zone

The San Nicolas Zone (SN) is considered part of the Quebradillas Mine, located approximately 400 m to the southwest and connected by underground development utilizing shared services from the mine. The San Nicolas Zone had 5 levels of development established and mined by FM, and a ventilation raise from surface down to 275 m. As a result of the drilling and surface mapping conducted by the Company, high-grade silver mineralization can now be traced with continuity down to approximately 370 m from surface.

The San Nicolas Zone is comprised of subvertical quartz-carbonate vein and breccia mineralization striking northwest (315/87) over a known strike length of approximately 600 m. Sulphide replacement zones occur within the hanging wall and footwall along the bedding within the sediments. The sulphide mineralization consists of pyrite, galena, sphalerite, acanthite, and native silver. A second set of east-west trending sulphide bearing quartz-carbonate veins crosscuts the principal northwest trend. Breccia pipes (chimneys) form at the intersection of these two trends. (Figures 1, 2; Tables 1, 2)

Holes Q-24-054 and 056 targeted the southeast extension of the breccia zone previously reported in hole Q-23-024 (1,000 g/t Ag.Eq over 5.25 m within a broader interval of 689 g/t Ag.Eq over 9.39 m)(see Company news release January 29, 2024). This intercept was located approximately 18 m above the last mine development in this area, with similar mineralization:

• The composited weighted average grade of historical channel samples from the 1921 EL stope returned 247 g/t Ag.Eq over a strike length of 19 m and average width of 1.49 m.

Hole Q-24-054 was drilled approximately 36 m to the SE of Q-23-024 and returned 417 g/t Ag.Eq over 0.50 m and 535 g/t Ag.Eq over 2.50 m within a broader interval of 302 g/t Ag.Eq over 7.00 m (98.80 to 105.80 m). Hole Q-24-056 was drilled approximately 35 m above Q-24-054 and returned 618 g/t Ag.Eq over 1.02 m (122.13 to 123.15 m). Historical hole ILP-SN-19-08 lies approximately 38 m northwest of Q-24-056 and 35 m above Q-23-024 and returned 951 g/t Ag.Eq over 3.45 m within a broader interval of 530 g/t Ag.Eq over 7.50 m.

Collectively, these four holes define an area of high-grade mineralization which spans a minimum 38 m along strike, is open to southeast, and extends up to 70 m above the previously developed 1921 EL stope.

Q-24-063 returned 643 g/t Ag.Eq over 0.40 m (94.85 to 95.25 m) and 468 g/t Ag.Eq over 0.50 m (97.75 to 98.25 m) approximately 33 m down dip and northwest of previously reported hole Q-23-013A (663 g/t Ag.Eq over 1.00 m within a broader interval of 316 g/t Ag.Eq over 4.09 m) and 30 m up dip and southeast of Q-23-014 (240 g/t Ag.Eq over 1.90 m)(see Company news release January 29, 2024). This confirms the San Nicolas Zone extends to the southeast a minimum of 40 m beneath the last development in this area, with similar high-grade mineralization:

• The composited weighted average grade of historical channel samples from the 1874 EL stope returned 332 g/t Ag.Eq over a strike length of 35 m and average width of 1.15 m.

C550 Zone

The C550 Zone is comprised of quartz-carbonate vein mineralization within a fault zone striking east and dipping 83 degrees to the south (080/83). It has a known strike length of approximately 315 m with mineralization extending vertically for 215 m, and a thickness of up to 5.5 m. The structure pinches and swells, with replacement sulphide bodies developed at its footwall and hanging wall. The mineralization consists of galena, sphalerite, pyrite, pyrrhotite, and arsenopyrite. Very few holes were drilled into the zone by FM. Channel samples were taken in 4 levels of development. (Figures 1, 3; Tables 1, 2)

Hole Q-24-065 returned 847 g/t Ag.Eq over 4.15 m within a broader interval of 565 g/t Ag.Eq over 7.20 m (113.80 to 121.00 m) approximately 77 m below the last development in this area, with similar mineralization:

• The composited weighted average grade of historical channel samples from the 1976 EL stope returned 223 g/t Ag.Eq over a strike length of 98 m and average width of 1.04 m.

This hole is also approximately 78 m to the west of the 1925 EL stope where the composited weighted average grade of historical channel samples returned 284 g/t Ag.Eq over a strike length of 40 m and average width of 2.43 m.

Hole Q-24-066 was drilled approximately 15 m up dip and to the east of Q-24-065 and returned 157 g/t Ag.Eq over 0.50 m (97.88 to 98.38 m) and 247 g/t Ag.Eq over 0.44 m (98.88 to 99.32 m). Hole Q-24-062 was drilled approximately 40 m up dip from Q-24-065 and returned 215 g/t Ag.Eq over 3.83 m (119.82 to 123.65 m).

Some new zones of mineralization were encountered before reaching C550 in 5 of the 6 holes, most notably, Q-24-065 returned 412 g/t Ag.Eq over 2.50 m within a broader interval of 275 g/t Ag.Eq over 7.20 m (89.90 to 97.10 m), 16.7 m prior to reaching the C550 Zone. The Company plans on conducting further drilling below and to the west of Q-24-065 to follow up on this new zone.

For further information, the NI 43-101 Technical Report entitled “Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico” with an effective date of May 31, 2023 is available for review on SEDAR (www.sedarplus.ca) and on the Company’s website (www.silverstorm.ca)

Table 1 – Select Assay Intervals from Holes Q-24-054, 056, 058, & 060 to 068 and Historical Results

Table 2 – Historical Channel Sample Results ⁽²⁾ – San Nicolas and C550 Zones

Sample Analysis and QA/QC Program

Silver Storm uses a quality assurance/quality control 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.

Closing of Second Tranche of Non-Brokered Private Placement

Under the Second Tranche of the Offering, 2,197,778 Units were issued at a price of $0.09 per Unit for aggregate gross proceeds of $197,800.02.

Each Unit consists of one common share of the Company and one common share purchase warrant. Each Warrant shall be exercisable to acquire one (1) additional Common Share at an exercise price of C$0.16 until January 6, 2028.

In connection with the Second Tranche of the Offering, the Company did not pay any finder’s fees or issue any finder’s warrants.

The Units were offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. The securities issued and issuable pursuant to the Offering are subject to a four month and one day hold period from the date of closing. The Warrants will not be listed for trading. The Company intends to use the net proceeds from the Offering to complete its upcoming NI 43-101 resource statement and for general corporate and working capital purposes.

The Offering has received conditional approval from the TSX Venture Exchange.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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: Cross Section View of Quebradillas Mine Towards NNW (Graphic: Business Wire)

Figure 2: Longitudinal Section San Nicolas Zone View to NE. (Graphic: Business Wire)

Figure 3: Longitudinal Section of C550 View to N. (Graphic: Business Wire)