Breakeven Date Change • Jul 10
Forecast breakeven date pushed back to 2027 The 2 analysts covering Silver Mountain Resources previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of US$40.0m in 2027. Average annual earnings growth of 52% is required to achieve expected profit on schedule. Announcement • Jul 10
Silver Mountain Resources Commences Commissioning At Reliquias Mine and Expects Production to Begin in Third Quarter 2026 Silver Mountain Resources Inc. provided a development update on its 100%-owned, polymetallic underground Reliquias mine in the Huancavelica region of central Peru. Rehabilitation of the concentrator plant at the past-producing, silver-rich mine is 95% complete and the Company expects first production to commence in the third quarter of 2026, on track with previous estimates. Plant commissioning commenced: Industrial testing of all equipment in the plant circuit began early July 2026, using low-grade ore as planned. Concentrator plant rehabilitation approaches completion: The Reliquias Concentrator Plant rehabilitation is approximately 95% complete and remains aligned with the target restart of operations in the third quarter of 2026. The concentrator rehabilitation project has advanced through confirmatory metallurgical testing, equipment installation, and operational readiness, among other activities. Primary processing circuits operational: The main processing circuits have been completed and tested. The crushing circuit is now operational, while the grinding and flotation circuits have completed key empty run tests and equipment checks. The remaining work focuses on completing the auxiliary systems and advancing hot commissioning and operational validations. Production to commence in coming weeks: Reliquias continues to advance towards production startup in the third quarter of 2026, in line with guidance, followed by the operational ramp-up and commercial production. Other Updates: An updated Mineral Resources estimate and an updated Preliminary Economic Analysis at Reliquias are expected in the fourth quarter of 2026. The following is a summary of the status of rehabilitation activities across the major processing circuits at the Reliquias concentrator plant: Crushing Circuit: The primary and secondary crushing circuit has been fully installed, with key tests conducted on all primary and secondary crushing equipment. Grinding Circuit: The 9' x 11' ball mill has been installed together with its automatic operation system, including lubrication and hydraulic systems. No-load tests were completed and alignment, lubrication, vibration levels, and electrical consumption were verified to be within acceptable operating parameters. Flotation Circuit: The flotation cells and auxiliary equipment have been installed. Empty run tests for agitators, blowers, pumps, and control systems have also been completed, confirming the readiness of the circuit for the next stages of operational integration. Thickening and Filtering Circuit: The thickening and filtering equipment is currently installed. The associated auxiliary water and air systems are approximately 80% complete, supporting continued progress toward integrated plant operation. Auxiliary Circuits: The auxiliary circuits are progressing through the integration of the plant's water supply, high- and low-pressure air supply, electrical systems, instrumentation, automation and control systems, and piping network. Remaining Priorities: Current work also includes the installation and calibration of instrumentation, verification of automation and control systems, and operational validation of pH, foam level, and granulometry to ensure the plant is ready for commissioning. Announcement • Jun 27
Silver Mountain Resources Inc., Annual General Meeting, Aug 06, 2026 Silver Mountain Resources Inc., Annual General Meeting, Aug 06, 2026. 
