Mr. Greg McKenzie reports

SILVER STORM ANNOUNCES UPSIZE OF BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO C$8.0 MILLION

As a result of strong investor demand, Silver Storm Mining Ltd., Red Cloud Securities Inc., as lead agent and bookrunner, and Ventum Financial Corp, as co-agent, have agreed to increase the size of the previously announced best efforts private placement from gross proceeds of up to $6,006,000 to gross proceeds of up to $8,008,000. The upsized marketed offering comprises the sale of up to 61.6 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 which is 36 months after the closing date (as hereinafter defined).

The company has granted to the agents 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.

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.

Subject to compliance with applicable regulatory requirements and in accordance with Part 5A of National Instrument 45-106 -- Prospectus Exemptions, and in reliance on the Coordinated Blanker Order 45-935 -- Exemptions From Certain Conditions of 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 tradeable 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 purchaser's resident in the United States and in certain offshore foreign jurisdictions, pursuant to applicable regulatory requirements and in accordance with Ontario Securities Commission 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 United States Securities Act of 1933, as amended. Purchasers are advised to consult their own legal advisers in this regard.

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

The offering is scheduled to close on or about June 5, 2025, or such other date as the company and the agent may agree. The 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 agents shall receive a cash commission equal to 6 per cent of the gross proceeds of the offering and brokers' warrants equal to 6 per cent of the number of units sold pursuant to the offering, other than from proceeds received from sales to certain president's list purchasers identified by the company, for which a 2-per-cent cash commission and 2-per-cent brokers' warrants will be payable. Each broker's 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 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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