Mr. Peter Ball reports

SILVER HAMMER ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Silver Hammer Mining Corp. has arranged a non-brokered private placement of units of the company at a price of nine cents per unit for anticipated gross proceeds of up to $2.4-million.

"Silver Hammer is supported by an exceptional board and technical team, including Ron Burk, the previous senior [vice-president] of exploration for Centerra Gold and Silver Standard, Don Birak, the previous senior VP of exploration for Coeur Mining, Anglo Gold and Hudson Bay Mining & Smelting, and Lawrence Roulston, the current non-executive chairman of Metalla Royalty and Streaming, and we look forward to a busy exploration season evaluating our current portfolio of high-grade silver assets in two excellent mining jurisdictions of Idaho and Nevada," commented Peter A. Ball, president and chief executive officer of Silver Hammer. "With an exciting silver bull market emerging, we are pleased to be one of the few pure silver-focused exploration and development companies ready for a busy exploration season testing three high-grade silver projects, where each asset contains historical silver mines that have had limited modern-day exploration for decades. As one of Silver Hammer's largest shareholders, I look forward to a busy 2024 and the patience and support of our shareholders pushing forward."

Each unit will be composed of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of 12 cents per warrant share for a period of two years from the closing date of the offering.

The company will complete 13,547,853 units for aggregate gross proceeds of $1,219,307 under the offering pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions). The securities issued in the LIFE offering will not be subject to a hold period in accordance with applicable Canadian securities laws. There will be an offering document related to the LIFE offering that will be available under the company's profile at SEDAR+ and at the Silver Hammer website. Prospective investors should read this offering document before making an investment decision.

In addition to the LIFE offering, the company will complete a concurrent private placement of units pursuant to applicable prospectus exemptions under NI 45-106 for gross proceeds of up to an additional $1,180,693 for total gross proceeds of a minimum $2,343,709 and up to $2.4-million under the offering. Such units will be subject to a four-month-and-one-day hold period following the closing date of the concurrent placement.

In connection with the offering, the company will pay finders' fees of up to 7.0 per cent of the gross proceeds raised by the company from the sale of units to subscribers directly introduced to the company by eligible finders. In addition, the company will issue to eligible finders non-transferable finders' warrants of up to 7.0 per cent of the number of units sold in the offering. Each finder's warrant will entitle the holder to acquire one share at a price of 12 cents per share for a period of two years from the date of issuance.

The company intends to use the proceeds raised from the offering for exploration of its Silver Strand project in Idaho and the Eliza and Silverton projects in Nevada, and for working capital and general corporate purposes.

About Silver Hammer Mining Corp.

Silver Hammer is a junior resource company focused on advancing past-producing high-grade silver projects in the United States. Silver Hammer controls 100 per cent of the Silver Strand mine in the Coeur d'Alene mining district in Idaho, United States as well as both the Eliza silver project and the Silverton silver mine in Nevada and the Lacy gold project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The company's portfolio also provides exposure to copper and gold discoveries.

We seek Safe Harbor.