File: '\\swfile\EmailIn\20240923 140256 Attachment HAMR NR 2024 09 23 - Announce PP Update and Debt Settlements.docx'

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Silver Hammer Mining Corp.

Suite 300-1055 West Hastings Street,

Vancouver, BC

V6C 2E9

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

September 23, 2024 - Vancouver, BC - Silver Hammer Mining Corp. (CSE: HAMR) (the "Company" or "Silver Hammer") continues to focus on its non-brokered private placement of up to 27,000,000 units of the Company (the "Units") at CAN$0.055 per Unit for gross proceeds of up to CAN$1,485,000 (the "Offering"), which was previously announced on July 31, 2024. Each Unit will consist of one common share in the capital of the Company (a "Share") and one transferrable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional Share at a price of CAN$0.07 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% controlled silver projects in Idaho and Nevada, the Company announces that, subject to regulatory approval, it intends to complete debt settlements (the "Debt Settlements") by the issuance of a total of 3,389,092 common shares at a deemed price of $0.055 per share to settle debts owing pursuant to past consulting and accounting services provided to the Company for a total amount of CAN$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 & CEO 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 Corp. is a junior resource company focused on advancing past-producing high-grade silver projects in the United States. Silver Hammer controls 100% of the Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, 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.

On Behalf of the Board of Silver Hammer Mining Corp.

Peter A. Ball

President & CEO, Director

E: peter@silverhammermining.com

For investor relations inquiries, contact:

Peter A. Ball

President & CEO

778.344.4653

E: investors@silverhammermining.com

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, without limitation, statements relating to the Offering and the use of proceeds therefrom and other statements which are subject to a number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management's ability to manage and to operate the business, and explore and develop the projects of the Company, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.