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SILVER MOUNTAIN´S RELIQUIAS MINE CONTINUES TO DELIVER - DRILLING HITS 1 15 METRES OF 682 G/T AGEQ AT THE PERSEGUIDA VEIN

Silver Mountain Resources Inc. ("Silver Mountain" or "the Company") (TSXV: AGMR) (OTCQB: AGMRF) announced the receipt of results from six additional drill holes completed at its 100% owned Reliquias mine, central Peru. This is part of the Phase 2 of the 2023 drilling campaign, in which the Company has completed 12,043 metres of diamond drilling from 43 holes. So far, results have been received for 28 drill holes. Three underground drill rigs are currently in operation at Reliquias.

Silver Mountain Discovers New High Grade Copper Vein and

Silver Mountain Discovers New High Grade Copper Vein and Hits Impressive Precious Metal Grades at Its Reliquias Mine, Peru

Figure 1: Drill Hole Location Map of the 2023 Drill program Figure 2: Longitudinal section of the newly identified Natividad vein Figure 3: High grade Ag-Au intercept in drill hole SMR140-23-SCS Figure 4: Longitudinal section of the Sacasipuedes vein showing grade-thickness values Key Highlights – Initial drilling on the Natividad Vein and mineral resource expansion drilling at Sacasipuedes vein system Drill Hole SMR135-23-SCS (newly identified Natividad, or “NAT” vein) 1.55 m @ 81 g/t Ag, 2.51%

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