Silver Storm Closes $14.625 Million First Tranche of Non-Brokered Private Placement Led by Eric Sprott and Announces Further Upsize Up to $21.0 Million

Toronto, Ontario, 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.

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.