Mr. Greg McKenzie reports

SILVER STORM ANNOUNCES $7.5 MILLION NON-BROKERED PRIVATE PLACEMENT WITH ERIC SPROTT

Silver Storm Mining Ltd. has arranged a non-brokered private placement of 15 million units of the company at a price of 50 cents per unit for gross proceeds of $7.5-million. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him and a current significant shareholder of the company, is subscribing for the entire offering.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at a price of 70 cents for a period of 18 months from the closing of the offering.

No commissions or finders' fees are payable by the company in connection with the offering.

The company intends to use the net proceeds of the offering to finance surface and underground drilling programs at its La Parrilla silver mine complex and for general corporate and working capital purposes.

Greg McKenzie, president and chief executive officer, stated: "We are pleased to have Eric Sprott, one of the most respected resource investors in the world, fund this private placement. He has supported Silver Storm over the past several years, and his continued confidence underscores the progress we have made bringing La Parrilla back into production."

The offering is being made to Mr. Sprott, through 2176423 Ontario, an accredited investor, in reliance on the accredited investor exemption available under National Instrument 45-106 (Prospectus Exemptions). The securities issued pursuant to the offering will be subject to a four-month-and-one-day hold period from the date of issuance.

The offering is expected to close on or about Aug. 25, 2026, or such other date(s) as the company may determine. Completion of the offering is subject to certain conditions, including receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

Related-party transaction

Mr. Sprott, through 2176423 Ontario, a corporation beneficially owned by him, currently holds 95,768,929 common shares of the company, representing approximately 11.6 per cent of the company's issued and outstanding common shares. Mr. Sprott, through 2176423 Ontario, is committing to subscribe for 15 million units in the offering for an aggregate purchase price of $7.5-million. The insider participation will be considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company expects to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a), respectively, on the basis that neither the fair market value of the units issued to Mr. Sprott, nor the fair market value of the consideration paid by him exceeds 25 per cent of the company's market capitalization. The company did not file a material change report in respect of the insider participation at least 21 days before expected closing date of the offering, as the insider participation was not confirmed prior to the foregoing period.

About Silver Storm Mining Ltd.

Silver Storm holds advanced-stage silver projects in Durango state, Mexico. The company is transitioning its 100-per-cent-owned La Parrilla silver mine complex, a prolific operation composed of a 2,000-tonne-per-day mill and three underground mines, into production. Silver Storm also holds a 100-per-cent interest in the San Diego project, which ranks among the largest undeveloped silver projects in Mexico.

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