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

Rhea-AI Summary

Silver Hammer (OTC: HAMRF) received an updated exploration drill permit for its 100%-controlled Silverton Project in Nye County, Nevada on October 10, 2025, and posted the required reclamation bond with the U.S. Bureau of Land Management.

The company plans a fully funded RC drill program of up to 5,000 feet in up to eight holes, with drilling expected to start in late October to early November 2025. Historic workings produced 300–933 g/t Ag; company sampling returned up to 692 g/t Ag in the Central Zone. Silver Hammer also completed a fully subscribed private placement and issued 1,500,000 shares to settle US$90,684 of past consulting fees.

Positive

• Updated drill permit received on Oct 10, 2025
• Reclamation bond posted with BLM
• Fully funded Phase I RC program up to 5,000 ft in eight holes
• Company sampling returned up to 692 g/t Ag
• Completed a fully subscribed private placement

Negative

• Issued 1,500,000 shares to settle US$90,684 debt (potential dilution)

Vancouver, British Columbia--(Newsfile Corp. - October 14, 2025) - Silver Hammer Mining Corp. (CSE: HAMR) (the "Company" or "Silver Hammer") is pleased to announce 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 (8) reverse circulation ("RC") holes and anticipates drilling will commence in the latter part of October to early November 2025. The Company plans to announce further news related to the Silverton drill program as we finalize 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 (7) 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."

Projects Overview:

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 (8) 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 grams per tonne ("g/t") to 6.1 g/t gold ("Au"). The silver dominated mineral system is hosted by silicified limestone with grades ranging from 0.32 g/t silver ("Ag") to 692 g/t Ag, from Company exploration work (please refer to the Company's press release dated Nov 29, 2021 for previous disclosure).

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 (Source: westernmininghistory.com and thediggings.com). 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 (refer to Figure 1).

Figure 1: Silverton Mine, Project Geology and Exploration Map Fall 2025

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/270359_57ceea3f449198f6_001full.jpg

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, with ring faults, radial faults and low-angle faults providing ample conduits for hydrothermal solutions following the Tertiary eruption of rhyolitic magmas, forming ash-flow tuffs within the caldera structure. The lithologic unit overlying the caldera magma chamber was thick Devonian sedimentary units, predominantly dolomite, with intercalated arenite, a setting which may be prospective for CRD-type mineral occurrence in the carbonates and epithermal-type in the tuff units.

Alteration noted in area has been mapped as pervasive weak silicification in the Devonian-aged carbonate units and weak argillic in the Tertiary-aged tuffs. Alteration intensifies in two areas of the property, in the vicinity of mapped faults and shears:

• 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.

Qualified Person

The scientific and technical aspects of this press release have been reviewed and approved under the supervision of Damir Cukor, P.Geo. Mr. Cukor is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects and as a consultant for the Company as Technical Director - Projects.

Silver Hammer also announces, that further to its news release of September 15, 2025, the Company has issued an aggregate of 1,500,000 common shares (the "Shares") of the Company having a deemed value of C$0.0837 per Share to settle a debt of US$90,684 pursuant to past consulting completed by a former service provider to the Company. The shares are subject to resale restrictions, including a four-month hold period under applicable Canadian securities laws.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company focused on 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, USA, 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. Silver Hammer's primary focus is to explore, define and develop silver projects near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold.

On Behalf of the Board of Silver Hammer Mining Corp.

Peter A. Ball
President & CEO, Director
E: peter@silverhammermining.com

For investor relations inquiries, contact:

Peter A. Ball
President & CEO
778.344.4653
E: investors@silverhammermining.com

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, without limitation, statements relating to the Offering, the intended use of proceeds from the Offering, and other statements which are subject to a number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management's ability to manage and to operate the business, and explore and develop the projects of the Company, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270359

FAQ

When will Silver Hammer (HAMRF) start drilling at the Silverton Project?

Drilling is anticipated to begin in late October to early November 2025.

How large is the initial Silverton drill program announced by HAMRF?

Phase I is fully funded for up to 5,000 feet of RC drilling in up to eight holes.

What permit and environmental steps has Silver Hammer (HAMRF) completed for Silverton?

The company received an updated exploration drill permit on Oct 10, 2025 and posted the required reclamation bond with the BLM.

What historic silver grades are associated with the Silverton mine HAMRF will test?

Historic production grades are reported at 300–933 g/t Ag, and company samples returned up to 692 g/t Ag.

Did Silver Hammer (HAMRF) raise financing to support the Silverton drill program?

Yes; the company completed a fully subscribed private placement and states the Phase I program is fully funded.

How will the 1,500,000-share issuance affect HAMRF shareholders?

The company issued 1,500,000 shares to settle US$90,684 of debt; this is a capital action that may cause shareholder dilution depending on total shares outstanding.