Mr. Greg McKenzie reports

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. The second tranche closed on Aug. 28, 2026, with the issuance of 12.75 million units of the company at a price of 50 cents per unit for aggregate gross proceeds of $6,375,000. Together with the first tranche of the offering, the company has issued an aggregate of 42 million units under the offering for total gross proceeds of $21-million. See the company's news releases dated Aug. 21, 2026, Aug. 24, 2026, and Aug. 26, 2026, for further details of the offering.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at a price of 70 cents for a period of 18 months from the closing of the second tranche.

In connection with the second tranche, the company paid cash finders' fees totalling $136,918.50, equal to 3.0 per cent of the gross proceeds raised under the second tranche from investors introduced by eligible finders, including Canaccord Genuity Corp., Research Capital Corp., Haywood Securities Inc., Leede Financial Inc. and Harbourfront Wealth Management Inc.

The company intends to use the net proceeds of the offering to finance surface and underground drilling programs at its La Parrilla silver mine complex, and for general corporate and working capital purposes.

The offering was made available to accredited investors in all the provinces and territories of Canada pursuant to the prospectus registration exemptions available under National Instrument 45-106, Prospectus Exemptions. The offering was conducted in part in the United States pursuant to exemptions from the registration requirements under Rule 144A and/or Regulation D of the United States Securities Act of 1933, as amended, and in other jurisdictions outside of Canada and the United States, provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdictions. The securities issued pursuant to the offering are subject to a four-month-and-one-day hold period from the date of issuance of the applicable tranche.

The offering has received conditional approval from the TSX Venture Exchange.

About Silver Storm Mining Ltd.

Silver Storm Mining holds advanced-stage silver projects in Durango state, Mexico. The company is transitioning its 100-per-cent-owned La Parrilla silver mine complex, a prolific operation comprising a 2,000-tonne-per-day mill and three underground mines, into production. Silver Storm also holds a 100-per-cent interest in the San Diego project, which ranks among the largest undeveloped silver projects in Mexico. For more information about Silver Storm and its projects, please visit the company's website.

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