Announces Results of Annual General and Special Meeting of Shareholders

SILVER MOUNTAIN RESOURCES

ANNOUNCES RESULTS OF ANNUAL

GENERAL AND SPECIAL MEETING OF

SHAREHOLDERS

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN OR INTO

THE UNITED STATES

/

TSXV.AGMR

TORONTO

,

June 23, 2022

/CNW/ - Silver Mountain Resources Inc. ("

Silver Mountain

" or the

"

Company

") is pleased to announce the results of its annual general and special meeting of

shareholders held on

June 23, 2022

(the "

Meeting

").

At the Meeting, each of the director nominees listed in the Company's management information

circular dated

May 20, 2022

(the "

Circular

") were elected as directors of the Company, including

Julio Jose Arce Ortiz

,

Alfredo Plenge Thorne

,

Alfredo Bazo

,

Jose Vizquerra

,

Victoria Vargas

and

Blair Zaritsky

. The shareholders of the Company also approved the re-appointment of BDO Canada

LLP as the auditors of the Company for the ensuing year and authorized the board of directors to fix

their remuneration and terms of engagement.

At the Meeting, the shareholders of the Company also approved the Company's ten percent (10%)

rolling option plan (the "

Stock Option Plan

"), in accordance with the TSX Venture Exchange rules

and policies. A copy of the Stock Option Plan is attached as a schedule to the Circular, which is

available on the Company's SEDAR profile at

www.sedar.com

.

About Silver Mountain

Silver Mountain Resources Inc. is a silver explorer and mine developer planning to re-commence

production at the Reliquias underground mine and undertake exploration activities at its prospective

silver camps at the Castrovirreyna Project in Huancavelica,

Peru

.

Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and

holds more than 27,000 Ha. in the district of Castrovirreyna, in Huancavelica, Peru.

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the

meaning of Canadian securities legislation (collectively, "

forward-looking statements

") that relate

to Silver Mountain's current expectations and views of future events. Any statements that express, or

involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or

performance (often, but not always, through the use of words or phrases such as "will likely result",

"are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated",

"intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical

facts and may be forward-looking statements and may involve estimates, assumptions and

uncertainties which could cause actual results or outcomes to differ materially from those expressed

in such forward-looking statements. No assurance can be given that these expectations will prove to

be correct and such forward-looking statements included in this news release should not be unduly

relied upon. These statements speak only as of the date of this news release.

Forward-looking statements are based on a number of assumptions and are subject to a number of

risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause

actual results and events to differ materially from those that are disclosed in or implied by such

forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors

set forth under "

Statement Regarding Forward-Looking Information"

and "

Risk Factors

" in the

Company's final prospectus dated

January 26, 2022

and other disclosure documents available on

the Company's profile at

www.sedar.com

. Silver Mountain undertakes no obligation to update or

revise any forward-looking statements, whether as a result of new information, future events or

otherwise, except as may be required by law. New factors emerge from time to time, and it is not

possible for Silver Mountain to predict all of them, or assess the impact of each such factor or the

extent to which any factor, or combination of factors, may cause results to differ materially from

those contained in any forward-looking statement. Any forward-looking statements contained in this

news release are expressly qualified in their entirety by this cautionary statement.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the

TSXV) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE

Silver Mountain Resources Inc.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/June2022/23/c2608.html

%SEDAR: 00052252E

For further information:

Alfredo Bazo, President, CEO & Director, [email protected]; Jean Pierre

Fort, Chief Financial Officer, [email protected]; Silver Mountain Resources Inc, 82 Richmond Street

East, Toronto, ON M5C 1P1, [email protected], 647-262-4017, www.agmr.ca

CO: Silver Mountain Resources Inc.

CNW 17:00e 23-JUN-22