THE SHELF PROSPECTUS SUPPLEMENT, THE CORRESPONDING BASE SHELF PROSPECTUS AND ANY AMENDMENT TO THE DOCUMENTS ARE ACCESSIBLE THROUGH SEDAR+ OR WILL BE ACCESSIBLE THROUGH SEDAR+ WITHIN 2 BUSINESS DAYS, AS APPLICABLE

Toronto, Ontario--(Newsfile Corp. - November 10, 2025) - Silver Mountain Resources Inc. (TSXV: AGMR) (" Silver Mountain " or the " Company ") is pleased to announce that, due to strong demand, it has increased the size of the previously announced bought deal offering of units to 10,000,000 units (the " Units ") at a price of C$2.60 for gross proceeds of C$26,000,000 (the " Offering "). Each Unit will consist of one class A common share in the capital of the Company (each, a " Common Share "), one-half (1⁄2) of one 6-month Common Share purchase warrant (each whole 6-month warrant, a " Series A Warrant ") and one-half (1⁄2) of one 24-month Common Share purchase warrant (each whole 24-month warrant, a " Series B Warrant "). Each Series A Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of C$3.25 for six (6) months following the Closing Date (as defined herein), and each Series B Warrant will entitle the holder to purchase one Common Share at an exercise price of C$3.90 for 24 months following the Closing Date.

The Company has granted the Underwriters an option (the " Over-allotment Option "), exercisable in whole or in part, to purchase up to an additional 1,500,000 Units for a period of 30 days from and including the Closing Date to cover over-allotments, if any, and for market stabilization purposes. The Underwriters shall be under no obligation whatsoever to exercise the Over-allotment Option in whole or in part. If the Over-allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be C$29,900,000.

The Units will be offered by way of: (i) a prospectus supplement (the " Prospectus Supplement ") to Silver Mountain's short form base shelf prospectus dated October 16, 2025 (the " Base Shelf Prospectus ") in each of the provinces and territories of Canada, except Québec; (ii) in the United States or to or for the account or benefit of "U.S. persons" as defined by Regulation S under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), by way of private placement pursuant to the exemptions from registration provided for under Section 4(a)(2) of the U.S. Securities Act and Rule 506(b) of Regulation D thereunder and/or by way of Rule 144A under the U.S. Securities Act, and in transactions not subject to, or exempt from, the applicable securities laws of any states of the United States; and (iii) in jurisdictions outside of Canada and the United States as are agreed to by the Company and the Underwriters on a private placement or equivalent basis.

The Company intends to use the net proceeds from the Offering to conduct exploration activities on its mineral properties, and for working capital and general corporate purposes.

The Offering is expected to close on or about November 18, 2025 (the " Closing Date ") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the " TSXV ").

Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendment to such documents is provided in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days from the date hereof), accessible on SEDAR+ at . An electronic or paper copy of the Prospectus Supplement, Base Shelf Prospectus, and any amendment to such documents may be obtained, without charge, from Velocity Trade Capital Ltd. by mail at 100 Yonge Street, Suite 1800, Toronto, Ontario M5C 2W1, by telephone at (416) 323-2154, or by email at ..., by providing the contact with an email address or address, as applicable.

The securities being offered have not been, nor will they be, registered under the U.S. Securities Act, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Silver Mountain

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.

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