Mr. Alvaro Espinoza reports

SILVER MOUNTAIN REPORTS 75% COMPLETION OF PROCESSING PLANT REHABILITATION ACTIVITIES AT RELIQUIAS

Silver Mountain Resources Inc. has provided an update on the rehabilitation progress at the company's 100-per-cent-owned Reliquias processing plant in central Peru.

Alvaro Espinoza, chief executive officer, stated: "We are pleased to report that rehabilitation activities at the Reliquias processing plant continue advancing toward our targeted Q3 2026 restart. The successful completion of empty-load testing across several key plant circuits represents an important operational milestone as we continue progressing toward commissioning and operational readiness."

The rehabilitation work at the Reliquias processing plant continues advancing across several key operational areas as outlined below:

• Overall plant rehabilitation activities have reached approximately 75-per-cent completion.
• Major processing equipment installation has been completed across the crushing, grinding and flotation circuits, with the plant advancing through integration, mechanical completion and commissioning preparation activities.
• Empty-load testing has been successfully completed on the crushing circuits, key grinding circuit equipment and flotation circuit equipment, with satisfactory results achieved and no operational issues identified during testing.

The next phase of work will focus on mechanical completion, electrical integration, instrumentation installation and dry commissioning activities as the company advances toward operational readiness and its targeted Q3 2026 production restart.

The company remains well funded as it advances toward the planned restart of operations at Reliquias.

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 in this news release 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).

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