Silver Hammer Commences Drilling at Its 100% Owned Silverton Project in Nevada

Rhea-AI Summary

Silver Hammer (CSE: HAMRF) has commenced a Phase 1 reverse-circulation drill program at its 100% owned Silverton Project in Nye County, Nevada, with up to 5,000 feet of RC drilling planned across ~8 holes to test down-dip continuity beneath historic high-grade workings.

The Company completed project-wide mapping and sampling in November 2025 (assays pending) and highlights historic mine shipments <100,000 tons with reported grades up to 933 g/t Ag and company rock samples up to 692 g/t Ag. Targets include a western silver-dominant Central Zone (~1,000-foot diameter) and an eastern gold-dominant zone. Qualified Person: Damir Cukor, P.Geo.

Positive

• Phase 1 ~5,000 ft RC drilling program commenced
• Drilling targets focused beneath historic workings with high reported grades
• Central Zone measures roughly 1,000 ft diameter

Negative

• November 2025 mapping/sampling assays pending
• Historic production totaled <100,000 tons, indicating limited past tonnage

Key Figures

Phase 1 drilling 5,000 feet Planned RC drill footage at Silverton Project

Planned drill holes Up to 8 RC holes Priority targets beneath historic Silverton workings

Historic silver grade 933 g/t Ag Upper range of historic underground production grades

Rock sample silver grade 692 g/t Ag Company chip/channel samples from Central Zone

Gold grade range 0.06–6.1 g/t Au Prior exploration on eastern gold-dominant system

Historic production tonnage <100,000 tons Recorded Silverton Mine production up to 1953

Central Zone size 1,000 feet Approximate diameter of Central Zone at Silverton

Silver price >$58 per ounce Quoted silver price in management commentary

Market Reality Check

$0.0800 Last Close

Volume Volume 159,575 is 0.79x the 20-day average of 201,106, indicating subdued trading interest. normal

Technical Price $0.075 is trading above the 200-day MA at $0.06, despite the recent pullback.

Peers on Argus

Most silver peers were flat to negative, with several names down modestly (e.g., ZCTSF -5.62%, CCWOF -2.56%), while HAMRF declined -7.89%, suggesting a more company-specific move.

Common Catalyst Within the silver space, at least one peer (EMUSF) also reported asset-level project news, highlighting ongoing exploration and property-level updates across the group.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 08	Drilling commenced	Positive	+3.2%	Start of Phase 1 RC drilling at Silverton targeting high-grade extensions.
Oct 29	Drill mobilization	Positive	-6.9%	Engagement of contractors and plan for up to 8 RC holes at Silverton.
Oct 20	Project acquisition	Positive	-6.7%	Option agreement to acquire 100% of the Fahey silver project in Idaho.
Oct 14	Permit and funding	Positive	-13.0%	Updated Silverton drill permit and fully funded RC program with bond posted.
Sep 15	Management and financing	Negative	-27.1%	Board changes plus stock options and share issuance to settle consulting debt.

Pattern Detected

Recent asset and permitting updates at Silverton have often been followed by negative or mixed price reactions, even when operational news appeared constructive.

Recent Company History

Over the past few months, Silver Hammer reported multiple steps advancing its projects. These included updated permits and a fully funded 5,000-foot RC drill program at Silverton, an option to acquire the 360-acre Fahey Property in Idaho with staged cash, shares, and C$1.5M in exploration spending, and board/technical team changes accompanied by equity issuance. A prior Silverton drilling-related announcement on Dec 08, 2025 saw a 3.21% gain, while similar October updates were followed by notable declines.

Market Pulse Summary

This announcement marks the transition from planning to execution at Silverton, with a Phase 1 RC drill program of up to 5,000 feet targeting areas beneath historic workings that produced up to 933 g/t Ag. It follows earlier permits, mobilization plans, and recent project acquisitions. Investors may focus on upcoming assay results, the balance between exploration progress and recent equity-based financings, and how the Central Zone’s high-grade samples up to 692 g/t Ag are followed up in drilling.

Key Terms

reverse circulation ("rc") technical

"Phase 1 exploration drill program will be comprised of approximately 5,000 feet of reverse circulation"

Reverse circulation (RC) is a drilling method used in mineral exploration where rock fragments are pushed up to the surface through the center of a two-layer drill pipe by compressed air, producing relatively uncontaminated samples. Investors care because RC provides quick, cost-effective, and reliable material for estimating whether a deposit contains valuable minerals, similar to using a vacuum to collect dust so you can see what’s actually in a room before deciding its worth.

grams per tonne ("g/t") technical

"at grades up to 933 g/t Ag. The Phase 1 drill program will be focused"

Grams per tonne (g/t) is a measure of how much of a metal, like gold or silver, is contained in one tonne of rock or ore; it tells you the concentration of the valuable material. For investors, g/t is important because higher numbers mean more metal can potentially be produced from each tonne mined—think of it like sugar in a cup of flour: the more sugar, the more valuable the batch—so grade directly influences a project’s revenue potential and cost-efficiency.

ash-flow tuffs technical

"forming ash-flow tuffs within the caldera structure."

Ash-flow tuffs are hard rock layers formed when hot volcanic ash and pumice raced across the landscape and welded together into a dense, often layered rock. Investors in mining and resource projects watch for these rocks because they can host metal deposits or act as impermeable caps that trap fluids, influencing where miners drill and how expensive or risky extraction and groundwater management will be — like finding a thick crust that hides or protects what lies beneath.

epithermal-type technical

"prospective for CRD-type mineral occurrence in the carbonates and epithermal-type in the tuff units."

A description for a class of mineral deposits formed when hot, metal‑bearing fluids move through near‑surface rocks and cool, leaving concentrated veins or layers of metals such as gold and silver. Think of it like mineral-rich steam piping through cracks and then depositing metal as it cools; these deposits often occur relatively close to the surface, can be high grade, and are important to investors because they may be quicker and cheaper to explore and mine but can also be spotty in size and continuity.

argillic technical

"mapped as pervasive weak silicification in the Devonian-aged carbonate units and weak argillic in the Tertiary-aged tuffs."

A soil layer where clay has been washed down from upper layers and collected, creating a denser, finer-textured band beneath the surface. For investors, an argillic horizon matters because it changes how water and roots move through the ground—affecting farmland productivity, construction stability, and the way minerals are concentrated, so it can influence land value, development costs, and the economics of resource projects.

jasperoid technical

"stockwork and occurrences of jasperoid with significant silver mineralization – the primary drill target."

Jasperoid is a hard, silica-rich rock formed when original carbonate rocks are largely replaced by quartz and related minerals, giving a reddish, jasper-like appearance. For investors, finding jasperoid matters because it often forms in the same zones where valuable metals such as gold concentrate, so its presence can be an accessible clue—like finding an old paint stain that hints at something valuable hidden underneath—guiding exploration and affecting a mining project's potential value.

national instrument 43-101 regulatory

"Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - Silver Hammer Mining Corp. (CSE: HAMR) (the "Company" or "Silver Hammer") is pleased to announce that the Company has commenced drilling at its 100%-controlled Silverton Project in Nye County, Nevada. The Phase 1 exploration drill program will be comprised of approximately 5,000 feet of reverse circulation ("RC") holes. The Company also completed a project-wide mapping and sampling exercise at Silverton in November 2025 with assays pending, which will assist in the current drill program.

"The drill rig arrived on site on December 3, 2025. We have now commenced drilling to test below the high-grade Silverton underground workings, which previously operated close to 80 years ago at grades up to 933 g/t Ag. The Phase 1 drill program will be focused initially on testing our priority targets that we have outlined in the attached figure," commented Peter A. Ball, President & CEO. "The Company is actively reviewing its other projects for 2026. Our team recently spent time on the ground at the California Mine Patent claim. The California Patent is located entirely within the Eliza Silver Project claim block and is close to having its Plan of Operations permit finalized for 2026 drilling. With the price of silver exceeding $58 per ounce, we look forward to a busy winter ahead and appreciate our shareholders patience and support."

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. 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: an 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 November 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/9597/277234_d45dac5ba4126a4e_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.

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 Fahey Group Silver Project in the Silver Valley, Idaho and 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/277234

FAQ

What drilling program did Silver Hammer (HAMRF) start at Silverton on December 8, 2025?

Silver Hammer commenced a Phase 1 RC drill program of up to 5,000 feet across approximately eight holes to test targets beneath historic workings.

What historic silver grades are cited for the Silverton Project (HAMRF)?

Historic mine shipments reported grades up to 933 g/t Ag, and company rock samples returned up to 692 g/t Ag.

When will Silver Hammer (HAMRF) release assay results from Silverton mapping and sampling?

The company reported that November 2025 mapping and sampling assays are pending; no specific release date was provided.

Which targets is Silver Hammer (HAMRF) prioritizing at Silverton for 2025–2026 drilling?

Priority targets include a western, silver-dominant Central Zone near fault intersections and an eastern, gold-dominant zone within jasperoid-altered areas.

How large is the central drill target at Silverton reported by Silver Hammer (HAMRF)?

The Central Zone targeted for drilling measures approximately 1,000 feet in diameter.