Mr. Peter Ball reports

SILVER HAMMER PROVIDES UPDATE ON CURRENT NON-BROKERED PRIVATE PLACEMENT AND ANNOUNCES DEBT SETTLEMENTS

Silver Hammer Mining Corp. is continuing to focus on its non-brokered private placement of up to 27 million units of the company at 5.5 cents per unit for gross proceeds of up to $1,485,000, which was previously announced on July 31, 2024. Each unit will consist of one common share in the capital of the company and one transferrable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional share at a price of seven cents for a period of three years from the closing of the offering.

To ensure that funds raised from the current private placement are directed to exploring the company's high-grade 100-per-cent-controlled silver projects in Idaho and Nevada, the company announces that, subject to regulatory approval, it intends to complete debt settlements by the issuance of a total of 3,389,092 common shares at a deemed price of 5.5 cents per share to settle debts owing pursuant to past consulting and accounting services provided to the company for a total amount of $186,400.02 (excluding GST).

"Silver Hammer's management is reducing a significant portion of the company's debt and payables by accepting shares versus cash from the treasury to ensure funds from the ongoing private placement are used for exploration at its permitted and drill ready high-grade silver projects in Nevada and Idaho. Management's decision to build a significant share ownership in the company highlights our strong belief in the portfolio of projects and the discovery potential," commented Peter A. Ball, president and chief executive officer of Silver Hammer Mining. "The company appreciates the patience and support of our shareholders pushing forward in what appears to be an emerging strong silver bull market."

The securities issued in connection with the debt settlements will be subject to a statutory hold period of four months and one day following the closing of the debt settlements in accordance with applicable securities legislation.

About Silver Hammer Mining Corp.

Silver Hammer Mining 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 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.