File: '\\swfile\EmailIn\20241216 145910 Attachment HAMR NR 2024 12 16 - Close First Tranche.docx'

910404.11905/99046632.7

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Silver Hammer Mining Corp.

Suite 300 - 1055 West Hastings,

Vancouver, BC

V6C 2E9

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SILVER HAMMER ANNOUNCES FIRST TRANCHE CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS

Not for distribution to the U.S. newswire or for dissemination in the United States

December 16, 2024 - Vancouver, BC - Silver Hammer Mining Corp. (CSE: HAMR) (the "Company" or "Silver Hammer") is pleased to announce that, further to its news release of October 28, 2024, it has closed the first tranche of its non-brokered private placement issuing 3,072,700 units (the "Units") at CAN$0.055 per Unit for gross proceeds of CAN$168,998.50 raised (the "Offering"). Each Unit consists of one common share in the capital of the Company (a "Share") and one transferrable common share purchase warrant (a "Warrant"). Each Warrant entitles 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.

"Silver Hammer continues to push forward to prepare for 2025. With minimal burn rate and 100% ownership of our projects, we are pleased to bring in new shareholders and focus on a second tranche in early 2025, to ensure we minimizing shareholder dilution," stated Peter A. Ball, President & CEO.

In connection with the Offering, the Company paid finders' fees totalling $5,285 cash and 96,089 non-transferable finders' warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to acquire one Share at a price of CAN$0.07 per Share for a period of three years from the date of issuance.

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Canadian Securities Exchange. All securities issued in connection with the Offering are subject to a statutory hold period of four months expiring on April 17, 2025, in accordance with applicable securities legislation.

The Company intends to use the proceeds raised from the Offering to advance exploration efforts at its 100% controlled projects which includes Silver Strand in Idaho, and Eliza and Silverton in Nevada and for working capital and general corporate purposes.

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.