AGMR.TO · 2025-09-04 12:00:00

OR Dissemination IN OR into the United States .

Corporate Updates

Silver Mountain Commences Preparatory

Activities for Restart of Reliquias Project

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

THE UNITED STATES

TORONTO

Sept. 4, 2025

/CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the

"Company") (TSXV: AGMR) (OTCQB: AGMRF) is pleased to announce that it has commenced

preparatory activities aimed at restarting operations at its Reliquias Project, located in the

Castrovirreyna district of Huancavelica,

Peru

AgMR (CNW Group/Silver Mountain Resources Inc.)

This follows the successful completion by the Company of the social consultation process, which led

to the signing of a long-term land-use agreement with the Comunidad Campesina de Salcca Santa

Ana, and the recent closing of the Company's public equity financing for aggregate gross proceeds

of approximately

$25,000,000

Preparatory activities are expected to be completed by the end of the third quarter of 2026. These

include:

Initiating mine development works;

Beginning major maintenance of the processing plant; and

Commencing maintenance of the tailings facility.

These activities are expected to significantly advance the Reliquias Project toward the restart of

operations, while materially reducing execution risks. Among the activities already underway are the

appointment and mobilization of a mining contractor, infrastructure upgrades, and the ramp-up of

hiring.

Alvaro Espinoza

, Chief Executive Officer of Silver Mountain Resources, stated:

"The commencement of preparatory activities at Reliquias represents a pivotal milestone for Silver

Mountain. With rehabilitation successfully completed in 2024, we are now advancing into

production preparations and building the foundation for our next phase of growth. Our team is fully

committed to disciplined execution and is making every effort to bring forward the start of

commercial operations while upholding the highest standards of safety and efficiency. At the same

time, we remain focused on creating local employment opportunities and strengthening our

partnerships with the communities of Castrovirreyna and Salcca Santa Ana, ensuring that the

Reliquias Project generates long-term value for the Company's shareholders and other

stakeholders."

Silver Mountain plans to provide updates on the progress and outlook for the Reliquias Project in the

fourth quarter of 2025 and again in the first quarter of 2026.

About the Reliquias Project

The Reliquias Project is a past-producing underground silver mine with existing infrastructure,

including a processing plant and tailings facilities. A Preliminary Economic Assessment completed in

2024 outlined a potential annual production profile of approximately 2.5 million silver-equivalent

ounces over an initial mine life of eight years. The Reliquias Project is the flagship asset of Silver

Mountain and represents a cornerstone of the Company's growth strategy in Peru. The technical

report titled "Amended and Restated NI 43-101 Technical Report: Preliminary Economic

Assessment, Reliquias Mine", dated

October 28, 2024

and with an effective date of

May 15, 2024

available on the Company's profile on SEDAR+ at

www.sedarplus.ca

About Silver Mountain Resources Inc.

Silver Mountain Resources Inc. is a Canadian mining company focused on the exploration and

development of silver projects in

Peru

. The Company's principal asset is the Reliquias Project, a

past-producing silver mine located in the Castrovirreyna district of Huancavelica. Silver Mountain is

committed to creating long-term value for its shareholders through responsible mining, strong

community engagement, and sustainable development practices.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.

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. Forward-looking statements in this news release include, but

are not limited to, statements in respect of the preparatory activities proposed to be completed at

the Reliquias Project and the potential commencement of operations at the Reliquias Project. 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 "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the

Company's Annual Information Form dated

July 17, 2025

, and other disclosure documents available

on the Company's profile on SEDAR+ at

www.sedarplus.ca

. 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.

AgMR (CNW Group/Silver Mountain Resources Inc.)

SOURCE

Silver Mountain Resources Inc.

View original content to download multimedia:

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%SEDAR: 00052252E

For further information:

For further information, please contact: Alvaro Espinoza, Chief Executive

Officer, Silver Mountain Resources Inc, 82 Richmond Street East, Toronto, ON M5C 1P1, +51 997

377 968, [email protected], www.agmr.ca

CO: Silver Mountain Resources Inc.

CNW 09:05e 04-SEP-25

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