Mr. Greg McKenzie reports

SILVER STORM ANNOUNCES UPSIZE OF NON-BROKERED PRIVATE PLACEMENT TO $15.0 MILLION

As a result of strong investor demand, Silver Storm Mining Ltd. is increasing the size of its previously announced non-brokered private placement of units of the company from 15 million units to up to 30 million units, at a price of 50 cents per unit, for aggregate gross proceeds of up to $15-million. See the company's news release dated Aug. 21, 2026, for further details of the 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.

In connection with the offering, the company may pay cash commissions of up to 3.0 per cent of the applicable subscription amount to certain eligible finders who introduce subscribers to the offering, in compliance with applicable securities laws and policies of the TSX Venture Exchange.

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 excited to add a significant strategic resource investor to our shareholder registry. Their backing validates the quality of our portfolio and provides additional capital to advance our growth programs. Together with Eric Sprott's continued support, this addition to our shareholder registry positions Silver Storm to accelerate its underground and surface drilling program at La Parrilla and its broader initiatives, as the company moves forward."

The units are being offered to purchasers 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-V.

Eric Sprott's participation in the offering, disclosed as a related party transaction in the company's news release dated Aug. 21, 2026, is unchanged by this upsize.

About Silver Storm Mining Ltd.

Silver Storm Mining 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 comprised 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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