Mr. Alvaro Espinoza reports

SILVER MOUNTAIN FILES YE 2025 ANNUAL FILINGS

Silver Mountain Resources Inc. has filed its annual financial statements, management's discussion and analysis, and annual information form for the year ended Dec. 31, 2025. The annual filings are available on SEDAR+ under Silver Mountain's issuer profile.

The annual filings are Silver Mountain's first filings as a Toronto Stock Exchange-listed issuer, and the company looks forward to meeting the accelerated disclosure timelines applicable to non-venture issuers on a go-forward basis.

The company also wishes to clarify prior disclosure contained in its interim financial report for the three and nine months ended Sept. 30, 2025, at the request of the OSC. In that interim filing, the company inadvertently stated that "proven and probable reserves have been established" at the Reliquias mine, which was an inadvertent error, as no mineral reserves, as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, have been established at the Reliquias mine. The company's annual financial statements for the year ended Dec. 31, 2025, include revised disclosure that corrects this error.

About Silver Mountain Resources Inc.

Silver Mountain Resources is a Canadian mining company focused on the exploration and development of silver projects in Peru. The company's principal asset is the Reliquias project, a past-producing silver mine located in the Castrovirreyna district of Huancavelica. Silver Mountain is committed to creating long-term value for its shareholders through responsible mining, strong community engagement and sustainable development practices.

The scientific and technical information relating to the Reliquias mine is supported by the technical report entitled "Amended and Restated NI 43-101 Technical Report: Preliminary Economic Assessment, Reliquias Mine" dated Oct. 28, 2024 (with an effective date of May 15, 2024), prepared for the company by Steven L. Park, Antonio Cruz Bermudez and Gerardo Acuna (the Reliquias PEA). Reference should be made to the full text of the Reliquias PEA, which is available on SEDAR+ under Silver Mountain's issuer profile, for the assumptions, qualifications and limitations relating thereto.

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