Silver Storm Closes Second and Final Tranche of Non-Brokered Private Placement for Aggregate Gross Proceeds of $21.0 Million

Silver Storm Mining Ltd. has closed the second and final tranche of its non-brokered private placement, raising $6,375,000 in gross proceeds. The total offering now comprises 42,000,000 units issued across two tranches, resulting in aggregate gross proceeds of $21,000,000.

Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at $0.70 for 18 months from the closing of the second tranche. Net proceeds are designated for surface and underground drilling programs at the La Parrilla Silver Mine Complex, as well as general corporate and working capital purposes.

This closing follows the first tranche closed on August 26, 2026, which raised $14,625,000 and included a $7,500,000 subscription from Eric Sprott. The offering received conditional approval from the TSX Venture Exchange, and securities are subject to a four-month-and-one-day hold period.

Silver Storm Mining Ltd. (SVRS) has closed the final tranche of its financing, a move that serves as an expected follow-up to the previously announced upsize and first tranche. The transaction secured $21,000,000 in capital at $0.50 per unit, a price point that sits at a slight premium to the company's recent trading range of $0.45–$0.56.

The proceeds will directly fund the company's stated 15,000-meter underground drilling program and working capital needs, aligning with management's operational restart and resource growth roadmap. The financing involved the issuance of 42,000,000 new shares and 21,000,000 warrants. While this represents dilution, the capital raised is sufficient to cover near-term cash burn without necessitating immediate additional capital raises.

Silver Storm Mining Ltd. is a precious metals exploration and development company focused on the La Parrilla Silver Mine Complex in Durango, Mexico, and the San Diego Project. La Parrilla is a 100%-owned underground Ag-Pb-Zn-Au mine complex that successfully transitioned from care and maintenance to an active, revenue-generating operation in Q2 2026. Key operational milestones include the first silver-gold doré pour in June 2026 and the first lead-silver and zinc concentrate shipment in July 2026.

The company is expanding the sulphide flotation circuit capacity from 1,000 tpd to 1,250 tpd and is executing a 15,000-meter underground drilling program to expand and convert resources. The San Diego Project is an advanced exploration asset with a large inferred resource, open for lateral and depth expansion, pending further funding for infill drilling and economic studies.