Mr. Greg McKenzie reports

SILVER STORM ANNOUNCES BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO C$6.0 MILLION

Silver Storm Mining Ltd. has entered into an agreement with Red Cloud Securities Inc. to act as lead agent and bookrunner in connection with a best-effort private placement for gross proceeds of up to $6,006,000 from the sale of up to 46.2 million units of the company at a price of 13 cents per unit.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at a price of 20 cents at any time on or before that date that is 36 months after the closing date (as hereinafter defined).

The company has granted to the agent an option, exercisable in full or in part, up to 48 hours prior to the closing date, to sell up to an additional 15.4 million units at the offering price to raise up to an additional $2,002,000 in gross proceeds.

Subject to compliance with applicable regulatory requirements and in accordance with Part 5A of National Instrument 45-106, Prospectus Exemptions (the listed issuer financing exemption), the units will be offered for sale to purchasers resident in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan. The unit shares and warrant shares underlying the units are expected to be immediately freely tradable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The units sold under the offering may also be issued to purchasers outside of Canada, including to purchasers resident in the United States and in certain offshore foreign jurisdictions, pursuant to applicable regulatory requirements and in accordance with OSC Rule 72-503, Distributions Outside Canada. The units sold to purchasers in the United States will be made on a private placement basis pursuant to one or more exemptions from registration requirements of the U.S. Securities Act of 1933, as amended. Purchasers are advised to consult their own legal advisers in this regard.

There is an offering document relating to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors in the offering should read the offering document before making an investment decision.

The company intends to use the net proceeds from the offering to commence rehabilitation work of the La Parrilla processing facility, order long-lead items required to restart La Parrilla, finance continuing operations for the next 12 months, and for general corporate and working capital purposes, all as further detailed in the offering document.

The offering is scheduled to close on or about June 5, 2025, or such other date as the company and the agent may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The agent shall receive a cash commission equal to 6.0 per cent of the gross proceeds of the offering and broker warrants equal to 6.0 per cent of the number of units sold pursuant to the offering, other than from proceeds received from sales to certain president list purchasers identified by the company, for which a 2.0-per-cent cash commission and 2.0 per cent broker warrants will be payable. Each broker warrant is exercisable into one common share of the company at the offering price for a period of 36 months following the completion of the offering.

About Silver Storm Mining Ltd.

Silver Storm Mining holds advanced-stage silver projects located in Durango, Mexico. In 2023, Silver Storm acquired of 100 per cent of the La Parrilla silver mine complex, a prolific past-producing operation comprising a 2,000-tonne-per-day mill as well as five underground mines and an open pit that collectively produced 34.3 million silver equivalent ounces between 2005 and 2019. The company also holds a 100-per-cent interest in the San Diego project, which is among the largest undeveloped silver assets in Mexico.

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