Silver Storm closes $14.625M first tranche, upsizes to $21.0M private placement

TORONTO, ON / ACCESS Newswire / August 26, 2026 / Silver Storm Mining Ltd. (" Silver Storm " or the " Company ") (TSX.V:SVRS)(FSE:SVR) is pleased to announce that it has closed the first tranche (the " First Tranche ") of its non-brokered private placement (the " Offering ") previously announced on August 21, 2026 and upsized on August 24, 2026, issuing 29,250,000 units of the Company (each, a " Unit ") at a price of $0.50 per Unit for aggregate gross proceeds of $14,625,000. In addition, due to continued strong investor demand, the Company is further increasing the size of the Offering from 30,000,000 Units to up to 42,000,000 Units, for increased aggregate gross proceeds of up to $21,000,000.

Each Unit consists of one common share of the Company (a " Common Share ") and one-half of one common share purchase warrant. Each whole warrant (a " Warrant ") entitles the holder to acquire one additional Common Share at a price of $0.70 for a period of 18 months from the closing of the applicable tranche.

In connection with the Offering, the Company paid Red Cloud Securities Inc. ( "Red Cloud" ) a cash fee totaling $213,750, equal to 3.0% of the gross proceeds raised under the Offering from the investors introduced by Red Cloud to the Company. For the balance of the Offering, the Company may pay eligible finders who introduce subscribers to the Offering a cash finders' fee equal to up to 3.0% of the gross proceeds raised from investors introduced by such finders, in compliance with the policies of the TSX Venture Exchange (the " TSXV ") and applicable securities laws.

The Company intends to use the net proceeds of the Offering to fund surface and underground drilling programs at its La Parrilla Silver Mine Complex (" La Parrilla "), and for general corporate and working capital purposes.

The Offering will now close in one or more additional tranches. The Company expects to close the balance of the Offering on or about August 28, 2026, or such other date(s) as the Company may determine, subject to certain conditions, including completion of documentation and receipt of all necessary regulatory and other approvals, including the approval of the TSXV.

The Offering is available to accredited investors in all the provinces and territories of Canada pursuant to the prospectus registration exemptions available under National Instrument 45-106 - Prospectus Exemptions . The Offering may be conducted in the United States pursuant to exemptions from the registration requirements under Rule 144A and/or Regulation D of the United States Securities Act of 1933, as amended (the " 1933 Act "), subject to receipt of all necessary regulatory approvals, and in other jurisdictions outside of Canada and the United States, provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction. The securities issued and issuable pursuant to the Offering are subject to a four month and one day hold period from the date of issuance of the applicable tranche.

The First Tranche has received conditional approval from the TSXV. The balance of the Offering remains subject to certain conditions, including receipt of all necessary approvals, including the approval of the TSXV.