Mr. Greg McKenzie reports

SILVER STORM UPSIZES PRIVATE PLACEMENT OFFERING FOR UP TO $3.5 MILLION INCLUDING INVESTMENT BY SIGNIFICANT SHAREHOLDER FIRST MAJESTIC SILVER

Silver Storm Mining Ltd. is increasing the size of the previously announced non-brokered private placement offering of units of the company for gross proceeds of up to $3,500,000.01 at a price of nine cents per unit subject to approval from the TSX Venture Exchange. The offering will include an investment of $1.5-million from current significant shareholder First Majestic Silver Corp. (FM). See previous news releases dated Dec. 5, 2024, Dec. 19, 2024, Jan. 6, 2025, Jan. 9, 2025, and Jan. 16, 2025, for further details of the offering. To date under the offering, the company has raised gross proceeds of $1,290,420.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant shall be exercisable to acquire one additional common share at an exercise price of 16 cents until 36 months from the date of issuance (the expiry date).

In connection with the offering, the company may pay certain eligible arm's-length parties who introduce subscribers to the offering: up to 7-per-cent cash fees, and (2) up to 7-per-cent finders' warrants. Each finder's warrant entitles the holder to purchase one common share at a price of 16 cents for a period of 36 months.

FM has committed to subscribe for 16,666,666 units in the offering for an aggregate purchase price of $1,499,999.94. The participation of FM will be considered a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The private placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities will exceed 25 per cent of the company's market capitalization.

The offering has received conditional approval from the TSX-V, and is subject to all regulatory approvals, including final approval of the TSX-V. The units are being offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. The securities issued and issuable pursuant to the offering will be subject to a four-month-and-one-day hold period from the date of issuance. The warrants and finders' warrants will not be listed for trading. The company intends to use the net proceeds from the offering to complete its upcoming National Instrument 43-101 resource statement, and for general corporate and working capital purposes.

About Silver Storm Mining Ltd.

Silver Storm Mining holds advanced-stage silver projects located in Durango, Mexico. Silver Storm recently completed the acquisition of 100 per cent of the La Parrilla silver mine complex, a prolific operation that comprises 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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