Silver Mountain prepares to restart ops at Reliquias

Mr. Alvaro Espinoza reports SILVER MOUNTAIN COMMENCES PREPARATORY ACTIVITIES FOR RESTART OF RELIQUIAS PROJECT Silver Mountain Resources Inc. has commenced preparatory activities aimed at restarting operations at its Reliquias project, located in the Castrovirreyna district of Huancavelica, Peru. This follows the successful completion by the company of the social consultation process, which led to the signing of a long-term land-use agreement with the Comunidad Campesina de Salcca Santa Ana, and the recent closing of the company's public equity financing for aggregate gross proceeds of approximately $25-million. Preparatory activities are expected to be completed by the end of the third quarter of 2026. These include: Initiating mine development works; Beginning major maintenance of the processing plant; Commencing maintenance of the tailings facility. These activities are expected to significantly advance the Reliquias project toward the restart of operations, while materially reducing execution risks. Among the activities already under way are the appointment and mobilization of a mining contractor, infrastructure upgrades, and the ramp-up of hiring. Alvaro Espinoza, chief executive officer of Silver Mountain Resources, stated: "The commencement of preparatory activities at Reliquias represents a pivotal milestone for Silver Mountain. With rehabilitation successfully completed in 2024, we are now advancing into production preparations and building the foundation for our next phase of growth. Our team is fully committed to disciplined execution and is making every effort to bring forward the start of commercial operations while upholding the highest standards of safety and efficiency. At the same time, we remain focused on creating local employment opportunities and strengthening our partnerships with the communities of Castrovirreyna and Salcca Santa Ana, ensuring that the Reliquias project generates long-term value for the company's shareholders and other stakeholders." Silver Mountain plans to provide updates on the progress and outlook for the Reliquias project in the fourth quarter of 2025 and again in the first quarter of 2026. About the Reliquias project The Reliquias project is a past-producing underground silver mine with existing infrastructure, including a processing plant and tailings facilities. A preliminary economic assessment completed in 2024 outlined a potential annual production profile of approximately 2.5 million silver-equivalent ounces over an initial mine life of eight years. The Reliquias project is the flagship asset of Silver Mountain and represents a cornerstone of the company's growth strategy in Peru. The technical report titled "Amended and Restated NI 43-101 Technical Report: Preliminary Economic Assessment, Reliquias Mine," dated Oct. 28, 2024, and with an effective date of May 15, 2024, is available on the company's profile on SEDAR+ About Silver Mountain Resources Inc. Silver Mountain Resources is a Canadian mining company focused on the exploration and development of silver projects in Peru. The company's principal asset is the Reliquias project, a past-producing silver mine located in the Castrovirreyna district of Huancavelica. Silver Mountain is committed to creating long-term value for its shareholders through responsible mining, strong community engagement and sustainable development practices. We seek Safe Harbor.