Mr. Peter Ball reports

SILVER HAMMER COMMENCES SURFACE EXPLORATION PROGRAM AT THE ELIZA HIGH-GRADE SILVER PROJECT IN NEVADA

Silver Hammer Mining Corp. has commenced an extensive surface work program at the Eliza silver project, located in White Pine county, Nevada. The program will include a geological mapping, rock and soil sampling exploration program aimed at further defining and expanding on previous positive results to assist in the planned future drill program.

Peter A. Ball, president and chief executive officer of Silver Hammer, commented: "We are pleased to commence this important surface exploration program at our Eliza silver project in Nevada. This work represents the next step in unlocking the project's potential, with detailed rock sampling, geochemical surveys and mapping designed to refine, prioritize and finalize our high-quality drill targets. While we continue to advance our plan of operations through the permitting process, which has experienced longer review timelines due to a significant permitting backlog across Nevada, this program allows us to efficiently utilize the time by further enhancing our geological understanding of the project. The results will help optimize drill targeting and position us to move quickly once drilling permits are received. We believe Eliza hosts significant exploration upside, and this work reinforces our commitment to advancing the project in a disciplined, systematic and value-focused manner."

The surface work program will commence in the Passayank historical mine area and will focus on a newly defined Au-Ag (gold-silver) zone, previously referred to the New Western anomaly in a prior news release dated Oct. 25, 2022, where the company plans to complete 400 additional soil samples. The Eliza project is proximal to the operating Pan mine, the Mt. Hamilton project, the Gold Rock property and the Green Springs property.

A total of 530 soil and 50 rock samples were previously collected by the company in the northern Eliza project area. Significant soil sample results were found over a broad 200-metre (m) diameter Passayank area by the company with results ranging from below detection limit up to 26.95 grams per tonne Ag. Over all, 14 soil samples assayed greater than two g/t Ag with anomalous copper, lead, antimony and zinc. Of note, care and attention were given to eliminate any samples collected from historical mine dumps or transported surface debris. Refer to technical disclosure previously announced in news release dated Oct. 25, 2022.

Eliza North area

The Eliza North grid area includes the Belmont, Passayank and California showings, which is a collection of historical small-scale mineralized silver mine workings. The historical mines are accessible by road and are situated within 670 metres of each other. Each historical small mine has a distinct geochemical anomaly collectively stretching over 700 metres. The Passayank historical mine area is the strongest multielement rock and soil anomaly.

In the upcoming exploration program, the northern area of the Eliza project will see additional mapping and rock sampling of geological units working toward expanding the Passayank breccia zone in size. This detailed geological mapping will also support further definition of this zone and may support potential additional drill targets planned upon completion of permitting of the project. Rock sampling will occur in the Passayank southern breccia zone, which has not been recently sampled but was sampled in the 1960s and had positive historical results.

New Western Au-Ag anomaly

Silver Hammer will be investigating the New Western Au-Ag anomaly area with an additional 400 soil samples spaced 25 metres apart to provide definition, clarity and potential lateral extensions to this anomaly. It is not apparent in any historical mining literature that geologists and prospectors previously worked in this area, and it is a new early-stage discovery by the company. The New Western Au-Ag anomaly is on the edge of a wider-spaced soil grid but adjacent to the prospective Eberhardt fault zone.

Previous soil sampling in 2022 came back with elevated gold and silver creating interest in this new Au-Ag anomaly. Two soil samples south of the Eberhardt fault on the west side of the grid are shown in the attached table.

Sampling protocol

Soil samples were collected from the B horizon every 75 metres on 75-metre line spacing and then infilled on a 37.5-metre spacing in areas of greater interest. Typical sample depths ranged between 30 and 45 centimetres.

About Silver Hammer Mining Corp.

Silver Hammer is a mineral exploration and development company focused on acquiring, exploring and advancing precious metals projects in the United States. Silver Hammer holds a 100-per-cent interest in three exploration-stage brownfield silver properties: the Silver Strand project, located in the Silver Valley mining district of Kootenai county, Idaho; the Eliza silver project, located in White Pine county, Nevada; and the Silverton silver mine project, located in Nye county, Nevada. Silver Hammer also holds an option to acquire a 100-per-cent interest in the Fahey Group property, located in the Silver Belt portion of the Coeur d'Alene mining district, Shoshone county, Idaho.

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