Mr. Peter Ball reports

SILVER HAMMER IDENTIFIES STRONG ALTERATION AND SILICIFICATION IN RECENTLY COMPLETED DRILL PROGRAM AT ITS 100% OWNED SILVERTON PROJECT IN NEVADA

Silver Hammer Mining Corp. has completed its phase 1 test exploration drill program at its 100-per-cent-controlled Silverton project in Nye county, Nevada, and comprised 2,420 feet within six reverse circulation (RC) holes. Samples have been submitted to ALS Laboratories in Reno, Nev., for analysis.

"The company recently completed its preliminary test program at its 100-per-cent-owned Silverton project in Nevada. The program, aimed to efficiently test the zones in and around the historical Silverton mine, yielded solid runs of alteration and silicification and assays are now pending," commented Peter A. Ball, president and chief executive officer. "To ensure we managed capital allocated to the phase 1 program, we limited the number of holes to six to gain additional information for a potential follow-up drill program in early 2026. We look forward to a busy winter ahead and appreciate our shareholders patience and support."

A total of 2,420 feet has been drilled in six holes, targeting the Western silver zone (WSZ) with four holes and the Eastern gold zone (EGZ) with a further two holes.

Western silver zone drilling

The first four holes were drilled in the Central zone of the WSG, targeting below the old Silverton mine workings; the Central zone is the location of the intersection of two major fault structures, the Silverton fault, a ring-fault structure within the Williams Ridge Caldera and the Basin fault, a radial fault, and likewise, is a major structure within the caldera. Drilling and surface mapping has identified the Silverton fault (a high-angle reverse-type fault) with a width up to 30 feet, comprising fault slices of varying local lithologies. Alteration within the fault zone has been observed as moderate to intense; locally the silicification completely obliterates original rock fabric or, nearly so.

Past surface rock sampling of the Central zone indicates a 150-metre-wide zone of silver mineralization, staring at the Silverton fault and spanning westward, with samples of 692 parts per million Ag (silver), 330 ppm Ag and an additional five samples above 100 ppm Ag from company exploration work (please refer to the company's press release dated Nov. 29, 2021, for previous disclosure). Silicification, characteristically associated with the epithermal-type and carbonate-replacement type of mineral occurrences has been identified in: the Central zone in the Silverton fault; the Basin fault and in the NW mineralization zone (parallel to and north of the Basin fault).

Drill holes SLV25-001 and SLV25-002, collared east of the Silverton fault, revealed a complete geothermal spectrum of hydrothermal alteration, starting with high-temperature silicification replacement textures at the Silverton fault to low-temperature hackly calcite in veining at the western end of SLV25-001. SLV25-003, and SLV25-004, were collared from the same drill pad, east of the Silverton fault; SLV25-003 was drilled eastward, back toward holes SLV25-001 and SLV25-002 and intercepted the best looking alteration.

It should be noted that the drill-targeted Central zone is also the centre of past silver production in the 1930s and 1950s, as evidenced by two shafts and five adits, as well as numerous surface exploration pits. Historic production grades ranged from 300 grams per tonne Ag to 933 g/t Ag.

Eastern gold zone drilling

The second area targeted through the 2025 RC drill program was the zone of intensive silicic and oxide alteration in the Eastern gold zone; holes SLV25-005 and SLV25-006 were targeted to intercept structure and alteration that have in the past yielded surface rock samples which reported promising gold grades, including high grades of 0.65 part per million, 0.45 ppm and 0.20 ppm Au. SLV25-005 was intensely altered with silicification in the first 15 feet (4.6 metres), while SLV25-006 displayed moderate to intense silicification for the entire span of the top 100 feet (29 m).

RC drill hole cuttings sampling, both WSZ and EGZ

All six drill holes intercepted zones of silicification; zones with widths exceeding two metres, are listed in Table 1.

Selective sampling concentrated on silicified zones; a total of 221 samples have been submitted to ALS Laboratories in Reno, Nev., for analysis. A QA/QC (quality assurance/quality control) program was carried out, with regular insertions of certified standard materials, certified blank materials and duplicates, in aggregate, approximately 15 per cent of the samples in total. Geological staff delivered the samples to the lab, maintaining custody. ALS Laboratories is fully ISO 17025 certified for the analysis methods selected for the set of samples submitted.

Surface mapping and sampling -- WSZ and EGZ

A three-day detail mapping and sampling program preceded the 2025 RC drill program, where mineralization was identified on surface, through the use of a handheld XRF analyzer; notably, in the Central zone, on the location of one of these XRF high readings, chlorargyrite was tentatively identified in an outcrop and a set of samples was taken. A total of five surface rock samples have been submitted to ALS Laboratories, in Reno, Nev.

Contingent on positive analysis of the phase 1 drill program, a phase 2 drill program will be planned, as stepout drilling and following the structures down dip.

Qualified person

The scientific and technical aspects of this press release have been reviewed and approved under the supervision of Damir Cukor, PGeo. Mr. Cukor is a qualified person (QP) under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and as a consultant for the company as technical director -- projects.

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 seven previously producing silver mines which are located within the Silver Strand project in the Coeur d'Alene mining district in Idaho, United States, and within the Eliza silver project and the Silverton silver mine in Nevada. The company also controls the Fahey Group silver project in the Silver Valley, Idaho, and the Lacy gold project in British Columbia, Canada. Silver Hammer's primary focus is to explore, define and develop silver projects near past-producing mines that have not been adequately tested. The company's portfolio also provides exposure to copper and gold.

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