Silver Hammer Announces Receipt of Updated and Revised Drill Permit for Upcoming Silverton Project Exploration Program in Nevada

On October 14, 2025, Silver Hammer Mining Corp. announced it had received an updated and revised exploration drill permit for its Silverton Project in Nevada. The company has posted the required reclamation bond and is now finalizing the selection of a drill contractor.

The upcoming Phase I exploration program is fully funded and will consist of up to 5,000 feet of reverse circulation (RC) drilling in up to eight holes. The program is expected to commence in the latter part of October to early November 2025. The objective is to test for high-grade silver mineralization beneath the historical, near-surface underground workings.

Additionally, the company has settled US$90,684 in debt owed to a former service provider by issuing 1,500,000 common shares at a deemed value of C$0.0837 per share. These shares are subject to a four-month hold period.

The news is incrementally positive but not material. Receiving a drill permit is a necessary and expected procedural step in the mining exploration cycle. It de-risks the operational timeline but does not add any intrinsic value to the project itself; that value will be determined by drill results.

Positives: * Confirmed Timeline: The announcement provides a clear timeline for the start of drilling (late Oct/early Nov), which is the company's most significant near-term catalyst. * Fully Funded Program: Confirmation that the Phase I program is fully funded removes any immediate concern about the company's ability to execute this specific plan.

Negatives: * Dilution: The debt settlement adds 1.5 million shares to the capital structure. More importantly, these shares were issued at a deemed price of C$0.0837, a significant 35% discount to the previous day's closing price of C$0.13. While settling debt is good for the balance sheet, issuing shares at a steep discount is a negative for existing shareholders.

Neutral/Promotional: * The CEO's commentary about a "robust silver market pushing over US$50 per ounce" should be viewed as forward-looking and promotional. The company's success depends on actual market prices and, more importantly, what they find in the ground.

Overall, this news aligns with expectations. The market has been anticipating this drill program, as evidenced by the stock's significant price increase from C$0.05 to over C$0.12 in September 2025. This news provides confirmation and a timeline, but the success is already partially priced in. The real material event will be the assay results from this drill program.

Silver Hammer Mining Corp. is a Canadian-based junior mineral exploration company focused on precious metals. Its flagship asset is the Silverton Project, located in Nye County, Nevada. The project is situated in a past-producing district with small-scale, high-grade silver production recorded from the 1930s to the 1950s. The company's strategy is to explore beneath the shallow, historic mine workings to discover the source of the high-grade mineralization that was previously mined. Surface sampling has returned encouraging silver (up to 692 g/t) and gold (up to 6.1 g/t) values, but these are from select samples and are not representative of a mineral resource.