Silver Storm Drills 661 g/t Ag.Eq over 3.7 m and 328 g/t Ag.Eq over 15.4 m at San Marcos

Silver Storm Mining Ltd. (SVRS) has released results from infill and step-out drilling at the San Marcos zone of its La Parrilla project in Mexico, targeting oxide fault-vein mineralization. The company highlighted seven specific holes, with key intercepts including IDP-SM-26-003A, which returned 661 g/t Ag.Eq over 3.70 m (ETW 3.48 m); EDP-SM-26-006, reporting 328 g/t Ag.Eq over 15.35 m (ETW 11.76 m); and IDP-SM-26-015, which intersected 617 g/t Ag.Eq over 3.90 m (ETW 2.24 m).

Additional significant intercepts included IDP-SM-26-010 with 366 g/t Ag.Eq over 5.05 m (ETW 4.97 m); IDP-SM-26-002 returning 221 g/t Ag.Eq over 8.05 m (ETW 7.56 m); IDP-SM-26-017 with 468 g/t Ag.Eq over 2.85 m (ETW 2.85 m); and IDP-SM-26-018, which reported 399 g/t Ag.Eq over 1.20 m (ETW 0.98 m) and 241 g/t Ag.Eq over 5.00 m (ETW 4.10 m).

The results indicate potential to extend Indicated Resources 100 m toward surface over a 425 m strike, and Inferred Resources 65 m toward surface. To date, 93 holes have been completed, totaling approximately 9,395 m. Operations currently include two underground rigs and one surface rig. Cut-off grades are set at 135 g/t Ag.Eq for oxide material and 115 g/t Ag.Eq for sulphide material. Ag.Eq calculations utilize US$30/oz Ag, $2,500/oz Au, $0.95/lb Pb, and $1.25/lb Zn, with metallurgical recoveries of 70.1% Ag and 82.8% Au for oxides, and 79.6% Ag, 80.1% Au, 74.7% Pb, and 58.8% Zn for sulphides.

Silver Storm Mining Ltd. (SVRS) is positioned as a near-term producer, with its first doré scheduled to be poured in June 2026 and the sulphide circuit commissioning following in July 2026. The company’s San Marcos oxide zone represents a shallow resource that can be mined quickly and processed through the existing oxide leach circuit. Extending indicated oxide resources by 100 meters up-dip and adding high-grade intercepts, such as 11.76 meters at 328 grams per tonne silver equivalent, directly improves the early mine plan and potential cash flow.

The mineral resource at La Parrilla is already substantial, comprising 10.8 million ounces indicated and 16.3 million ounces inferred silver equivalent. The market had previously priced in a restart, with the stock rising from $0.21 to $0.76 on that news. The stock has since corrected to $0.42, suggesting the market may have lost some faith due to delays or dilution. These drill results serve as an incremental positive that reinforces the upside, though they extend a known zone rather than representing a new discovery.

Silver Storm Mining Ltd. is a Canadian junior advancing the past-producing La Parrilla Silver Mine Complex in Durango, Mexico. The complex includes three underground mines, a 2,000 tpd processing plant, and a 38,128-ha land package. As of May 2026, the company reported Indicated resources of 1.2 Mt at 280 g/t Ag.Eq (10.8 moz) and Inferred resources of 2.0 Mt at 255 g/t Ag.Eq (16.3 moz).

The company is restarting operations, with the first doré expected to be poured in June 2026 and the sulphide circuit commissioning scheduled for July 2026. Silver Storm also holds the San Diego advanced exploration project, which contains 55.5 moz indicated and 155.3 moz inferred Ag.Eq.

As of May 2026, the company’s capital structure consisted of 808.1M basic shares and 1,058.0M fully diluted shares. The market capitalization was C$477M at a share price of $0.59; a price of $0.42 implies a market cap of approximately C$339M. The company holds approximately C$21M in cash, a US$7M Samsung prepaid facility, and approximately C$43M in in-the-money warrants. Major shareholders include First Majestic with a 19% stake and Eric Sprott with a 12% stake.