Mr. Greg McKenzie reports

SILVER STORM FILES NI 43-101 TECHNICAL REPORT FOR THE LA PARRILLA SILVER MINE COMPLEX, DURANGO STATE, MEXICO

Silver Storm Mining Ltd. has filed an independent National Instrument 43-101 (Standards of Disclosure for Mineral Projects) technical report titled "Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico," with an effective date of Dec. 31, 2024. The technical report updates the mineral resource estimate at the company's 100-per-cent-owned La Parrilla silver mine complex, located in Durango, Mexico.

The technical report was prepared by SRK Consulting (Canada) Inc. and can be found for review under the company's profile on SEDAR+ and on the company's website.

A summary of the technical report was detailed in a news release dated Feb. 11, 2025, entitled "Silver Storm Announces 107% Increase in Indicated Mineral Resources at La Parrilla."

Highlights of the updated mineral resource estimate include:

• 107-per-cent increase in indicated mineral resources from 5.2 million ounces silver equivalent in the 2023 mineral resource statement to 10.8 Moz AgEq (1);
• 58-per-cent increase of inferred mineral resources from 10.3 Moz AgEq in the 2023 mineral resource statement to 16.3 Moz AgEq;
• Approximately 90 per cent of the indicated and 85 per cent of the inferred mineral resource tonnage is sulphide mineralization; 10 per cent of the indicated and 15 per cent of the inferred mineral resource tonnage is oxide mineralization;
• Silver dominant: 66 per cent of the indicated and 69 per cent of the inferred updated mineral resource gross metal value is derived from silver;
• 23 additional mineralized structures have been modelled, including several that were previously mined by the former operator, with significant upside potential;
• Total all-in exploration cost of 22 U.S. cents per oz AgEq discovered.

(1) Refer to the technical report and the mineral resource statement along with the accompanying notes for the underlying assumptions used in the mineral resource estimate.

Qualified person

The independent qualified person for the mineral resource estimate disclosure is Dr. David Machuca-Mory, PEng, of SRK Consulting (Canada) Inc., who has reviewed and approved the contents of this release. In accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects), Bruce Robbins, PGeo, is the qualified person for the company, and has validated and approved the technical and scientific content of this news release.

Shares-for-debt settlement

The company also announces that it has entered into a debt settlement letter agreement with a drilling service provider to settle the company's outstanding debt for past services performed by the creditor in the amount of $578,200 by issuing 4,818,333 common shares in the capital of the company at a deemed price of 12 cents per common share. The board of directors has determined that it is in the best interests of the company to settle the outstanding debt to the creditor through the issuance of common shares to preserve the company's cash for continuing operations.

Closing of the shares-for-debt transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange.

About Silver Storm Mining Ltd.

Silver Storm holds advanced-stage silver projects located in Durango, Mexico. In August, 2023, Silver Storm completed the acquisition of 100 per cent of La Parrilla silver mine complex, a prolific operation which is composed of 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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