Mr. Greg McKenzie reports

SILVER STORM CLOSES C$13.8 MILLION BOUGHT DEAL LIFE PRIVATE PLACEMENT

Silver Storm Mining Ltd. has closed its previously announced bought deal private placement for gross proceeds of $13,766,250, which includes the proceeds from the partial exercise of the underwriter's overallotment option. Pursuant to the offering, the company sold 55,065,000 units of the company at a price of 25 cents per unit. Red Cloud Securities Inc. (the underwriter) acted as sole underwriter and bookrunner in connection with the offering.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at a price of 35 cents at any time on or before Sept. 22, 2028.

The company now has sufficient liquidity and intends to use the net proceeds from the offering to advance the restart of the La Parrilla silver mine complex in Durango, Mexico, as well as for general corporate purposes and working capital, as is more fully described in the offering document (as defined herein).

In accordance with National Instrument 45-106 -- Prospectus Exemptions, 51.2 million units (the LIFE units) were sold to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The unit shares and warrant shares underlying the LIFE units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The remaining 3,865,000 units (the non-LIFE units) were sold to purchasers (i) in Canada by way of the accredited investor and minimum amount investment exemptions under NI 45-106, (ii) in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended, and (iii) in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws such that no prospectus, registration statement or other similar document were required to be filed in such jurisdiction. The unit shares, warrants and warrant shares underlying the non-LIFE units are subject to a statutory hold period in accordance with applicable Canadian securities law and may not be traded until Jan. 23, 2026, except as permitted by applicable securities legislation and the policies of the TSX Venture Exchange.

As consideration for their services, the underwriter received aggregate cash fees of $824,475 and 3,297,900 non-transferable common share purchase warrants. Each broker warrant is exercisable into one common share of the company at the offering price at any time on or before Sept. 22, 2028. The broker warrants and broker warrant shares are subject to a statutory hold period in accordance with applicable Canadian securities law and may not be traded until Jan. 23, 2026, except as permitted by applicable securities legislation and the policies of the TSX-V.

There is an offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website.

The closing of the offering remains subject to the final approval of the TSX-V.

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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