Mr. Peter Ball of Silver Hammer reports

SILVER HAMMER AND STROUD RESOURCES ANNOUNCE UPDATED MINERAL RESOURCE ESTIMATE FOR THE SANTO DOMINGO SILVER-GOLD PROJECT, MEXICO

Silver Hammer Mining Corp. and Stroud Resources Ltd. have released an updated mineral resource estimate for the Santo Domingo silver-gold project located in Jalisco state, Mexico. This MRE replaces Stroud's 2017 mineral resource estimate (see Silver Hammer news release July 20, 2026).

A technical report prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) has been filed on SEDAR+ concurrently with the information circulars of Silver Hammer and Stroud relating to the proposed amalgamations between Silver Hammer, Stroud and SilverMark Resources Inc.

The information circulars of Silver Hammer and Stroud relating to the amalgamations have been filed and are available under each company's profile on SEDAR+. The meetings of Silver Hammer shareholders and Stroud shareholders to consider and vote on the amalgamations, as applicable, are each scheduled to be held on Sept. 28, 2026. Shareholders of Silver Hammer and Stroud are encouraged to read the applicable information circular carefully and in its entirety. See the meeting details section for additional information regarding the meetings.

Key highlights

The following is a summary of the MRE with more detailed information provided in the table:

• Total measured and indicated mineral resources of 5.7 million tonnes at an average grade of 79 grams per tonne silver and 0.42 g/t gold, containing 14.3 million ounces Ag and 76,000 ounces Au, or collectively 20 Moz of silver equivalent;
• Total inferred mineral resources of 3.9 Mt at an average grade of 66 g/t Ag and 0.31 g/t Au, containing 8.3 million oz Ag and 36,000 oz Au, or collectively 11 Moz AgEq;
• Expected silver recoveries up to 86 per cent and gold recoveries up to 95 per cent;
• MRE prepared by independent qualified person, Simon Mortimer (FAIG No. 7795) of Atticus Geoscience Consulting Ltd.

Dr. Scott Jobin-Bevans, Stroud Resources' interim chief executive officer since July, 2019, commented: "This updated mineral resource estimate represents an important step forward for the Santo Domingo project. While the application of a more rigorous and contemporary geological and resource modelling methodology has resulted in a reduction in the reported contained ounces compared to the 2017 MRE, we believe the resulting resource is significantly more robust, transparent and representative of the current geological understanding of the deposit. Importantly, this work provides Silver Hammer with a much stronger technical foundation from which to evaluate the economic potential of Santo Domingo and advance the project toward a preliminary economic assessment. We believe this updated resource will give shareholders and the market greater confidence in the quality of the mineralization and provide a clear road map for the next phase of exploration and development."

Mineral resource statement

The MRE, constrained by underground mining assumptions (see notes to table), is reported using a break-even underground mining net smelter return cut-off of $90 (U.S.) per tonne (table).

Meeting details

Silver Hammer meeting

The annual general and special meeting of Silver Hammer shareholders will be held in person at the offices of McMillan LLP, Suite 1500, 1055 West Georgia St., Vancouver, B.C., V6E 4N7, on Sept. 28, 2026, at 10 a.m. Vancouver time.

The board of directors of Silver Hammer unanimously recommends that Silver Hammer shareholders vote for the amalgamation resolution approving the amalgamations.

In addition to the amalgamation resolution, Silver Hammer shareholders will also be asked to consider certain annual business matters and other special business, including: (i) the receipt of financial statements; (ii) the appointment of an auditor; (iii) the election of directors to hold office until the earlier of the next annual general meeting or the completion of the amalgamations; (iv) conditional upon completion of the amalgamations, the election of the directors of the resulting issuer; (v) the creation and authorization of the contingent value shares; and (vi) the approval of the proposed 2026 omnibus equity incentive compensation plan. Silver Hammer shareholders are encouraged to read the Silver Hammer information circular carefully and in its entirety for a full description of all matters to be considered at the Silver Hammer meeting.

Silver Hammer shareholders may vote on-line, by mail, by telephone or by any other method provided in the form of proxy or voting instruction form, which forms part of the Silver Hammer meeting materials. The proxy voting deadline for the Silver Hammer meeting is 10 a.m. Vancouver time on Sept. 24, 2026.

Silver Hammer shareholders with questions or who require assistance may contact Endeavor Trust Corp. at Suite 702, 777 Hornby St., Vancouver, B.C., V6Z 1S4.

Stroud meeting

The annual general and special meeting of Stroud shareholders will be held virtually on Sept. 28, 2026, at 10:30 a.m. Toronto time.

The board of directors of Stroud unanimously recommends that Stroud shareholders vote for the amalgamation resolution approving the Stroud amalgamation.

In addition to the amalgamation resolution, Stroud shareholders will also be asked to consider certain annual business matters, including the election of directors and the reappointment of the auditor. Stroud shareholders are encouraged to read the Stroud information circular carefully and in its entirety for a full description of all matters to be considered at the Stroud meeting.

Stroud shareholders may vote on-line or by mail by returning the completed form of proxy to TSX Trust Company (attention: proxy department) at 301, 100 Adelaide St. West, Toronto, Ont., M5H 4H1, or by voting on-line in each case not later than 10:30 a.m. Toronto time on Sept. 24, 2026.

Stroud shareholders with questions or who require assistance may contact TSX Trust Company at 1-866-600-5869.

National Instrument 43-101 disclosure

Dr. Jobin-Bevans, PGeo (PGO No. 0183), interim chief executive officer of Stroud Resources and a qualified person as defined by NI 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the technical information in this news release, on behalf of Silver Hammer and Stroud Resources.

About Silver Hammer Mining Corp.

Silver Hammer is a mineral exploration and development company focused on acquiring, exploring and advancing precious metal projects in the United States. Silver Hammer holds a 100-per-cent interest in three exploration-stage silver properties: the Silver Strand project in Idaho; the Eliza silver project and the Silverton silver mine project in Nevada. Silver Hammer also holds an option to acquire a 100-per-cent interest in the Fahey group property in the Silver belt portion of the Coeur d'Alene mining district, Idaho. Upon completion of the amalgamations, Silver Hammer's portfolio will expand to include the advanced Santo Domingo silver-gold property in Jalisco state, Mexico, and an indirect interest in the Akka mine silver and polymetallic project and multiple exploration leases and mineral projects in Morocco. The company is led by a technical and management team with extensive global experience in exploration, permitting, capital markets and development of mining projects. Silver Hammer's primary focus is to explore, define and advance silver projects near past-producing mines, with additional exposure to gold.

About Stroud Resources Ltd.

Stroud Resources is a Canadian mineral exploration company whose mission is to create shareholder value through the exploration and development of its Santo Domingo silver-gold project located in Jalisco, Mexico.

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