Silver Hammer receives updated and revised drill permit for Silverton Project, Nevada

Silver Hammer Mining Corp. [CSE: HAMR] reported that, on October 10, 2025, the company received an updated exploration drill permit for its 100%-controlled Silverton Project in Nye County, Nevada and has subsequently posted its reclamation bond with the United States Bureau of Land Management.

The company is now finalizing its selection from various drill contractors to complete a fully funded, exploration drill program of up to 5,000 feet in up to eight reverse circulation (RC) holes and anticipates drilling will commence in the latter part of October to early November 2025. The company will post further news related to the Silverton drill program as it finalizes the program timing and final scope of work.

“Silver Hammer acquired 100% of the Silverton Project in 2021, and has only completed surface exploration which included trenching, sampling and geophysics while the Company focused efforts on its 100%-controlled Silver Strand project in Idaho and its larger-scale and 100%- controlled high-grade Eliza Silver Project, where five historical mines are situated.

“The company is excited to finally test below the near-surface historical Silverton underground workings, a high-grade silver mine which last saw production in the early 1950s, and with the goal to determine what the old silver miners potentially missed below the existing workings nearly 80 years ago,” commented Peter A. Ball, President & CEO. “It will be a busy year ahead as we look to drill test under potentially all seven high-grade, historic silver mines. The company is also positioned well in a current and robust silver market pushing over US$50 per ounce, and the recent completion of a fully subscribed private placement. The Company is also reviewing interesting accretive projects that have recently been presented to our team for acquisition, joint venture and corporate opportunities.”

Silverton Project, Nevada: Silver Hammer has identified several targets at its Silverton Project and currently has multiple drill targets identified. The company’s technical team has ranked and prioritized the key targets at Silverton designed to initially test the mineralized area proximal to, and under, the historic high-grade, near surface mine workings with up to eight RC drill holes, totalling up to 5,000 feet.

A potential subsequent Phase II drill program, based on the results of Phase I, would be designed to test extensions of any new mineralization. The drill program is designed to test primarily for down-dip continuity of the high-grade silver mineralization previously mined in the 1930s and 1950s.

Previous company exploration work, including rock and soil sampling, geologic mapping and satellite imagery, provided evidence for two separate mineralized systems: and eastern, gold-dominant system and a western, silver-dominant system. Prior exploration on the volcanic-hosted, gold system returned grades ranging from 0.06 g/t to 6.1 g/t gold. The silver dominated mineral system is hosted by silicified limestone with grades ranging from 0.32 g/t to 692 g/t silver, from company exploration work.

Silver was discovered at the Silverton Mine in 1921. Small-scale production is recorded from the 1930s and the mine produced its last shipment in 1953, totalling less than 100,000 tons, with historic production grades ranging from 300 g/t Ag to 933 g/t Ag.

In addition to the identified 100-foot shaft and underground workings (five known adits), the area to the west and the north of the mine shaft has been the subject of only surface exploration comprised of numerous small test pits and trenches. In-situ rock samples by the company (chip and channel) returned silver grades, up to 692 g/t Ag, with a further six samples having returned over 100 g/t Ag, from this Central Zone from past mining, pitting and trenching; the Central Zone measures approximately 1,000 feet in diameter.

The Silverton Mine Silver Project is situated within the Williams Ridge Caldera, near its eastern rim. The caldera is a large-scale structure, over 30 miles in diameter.

In the western portion of the property, in the Central Zone, in proximity of the intersection of the N-S Silverton and the E-W Basin Faults, silicification comprises veins, zones of stockwork and occurrences of jasperoid with significant silver mineralization – the primary drill target.

In the eastern portion of the property an area of quartz veinlets and extensive jasperoid alteration with gold mineralization forms a secondary exploration target.

Silver Hammer also reported that further to its news release of September 15, 2025, the company issued 1,500,000 common shares having a deemed value of C$0.0837 per share to settle a debt of US$90,684 to past consulting completed by a former service provider to the company.

Silver Hammer Mining is advancing past-producing high-grade silver projects in the United States. Silver Hammer controls 100% of seven previously producing silver mines which are located within the Silver Strand Project in the Coeur d’Alene Mining District in Idaho and within the Eliza Silver Project and the Silverton Silver Mine in Nevada. The company also controls the Lacy Gold Project in British Columbia, Canada.