Announcement • Aug 30

Silver Hammer Mining Corp. and Stroud Resources Ltd. Announce Updated Mineral Resource Estimate for the Santo Domingo Silver-Gold Project

Silver Hammer Mining Corp. and Stroud Resources Ltd. announced an updated mineral resource estimate for the Santo Domingo Silver-Gold Project located in Jalisco State, Mexico. This MRE replaces Stroud’s 2017 mineral resource estimate. A technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects has been filed on SEDAR+ concurrently with the information circulars of Silver Hammer and Stroud relating to the proposed amalgamations between Silver Hammer, Stroud and SilverMark Resources Inc. The meetings of Silver Hammer shareholders and Stroud shareholders to consider and vote on the Amalgamations are each scheduled to be held on September 28, 2026. The following is a summary of the MRE with more detailed information provided in Table 1: Total Measured and Indicated mineral resources of 5.7 Mt at an average grade of 79 g/t Ag and 0.42 g/t Au, containing 14.3 Moz Ag and 76 koz Au, or collectively 20 Moz of silver equivalent (AgEq). Total Inferred mineral resources of 3.9 Mt at an average grade of 66 g/t Ag and 0.31 g/t Au, containing 8.3 Moz Ag and 36 koz Au, or collectively 11 Moz AgEq. Expected silver recoveries up to 86% and gold recoveries up to 95%. MRE prepared by independent Qualified Person, Mr. Simon Mortimer (FAIG #7795) of Atticus Geoscience Consulting Ltd. Silver equivalent: AgEq (ppm) = Ag (ppm) + Au (ppm) x 68.85. The MRE, constrained by underground mining parameters, is reported using a break-even underground mining net smelter return (NSR) cut-off of USD 90.0/t. Mineral Resource Statement, Santo Domingo Ag-Au Project, Mexico (effective August 21, 2026): Guadalupe Vein Indicated 740,000 tonnes, grade 63 ppm Ag, 0.20 ppm Au, 77 ppm AgEq, NSR USD 139/t, contained metal 1,500 koz Ag, 5 koz Au, 1,800 koz AgEq. Guadalupe Vein Inferred 1,500,000 tonnes, grade 61 ppm Ag, 0.24 ppm Au, 78 ppm AgEq, NSR USD 141/t, contained metal 2,900 koz Ag, 11 koz Au, 3,700 koz AgEq. La Raya Vein Measured 1,200,000 tonnes, grade 97 ppm Ag, 0.51 ppm Au, 132 ppm AgEq, NSR USD 240/t, contained metal 3,730 koz Ag, 19 koz Au, 5,040 koz AgEq. La Raya Vein Indicated 3,700,000 tonnes, grade 76 ppm Ag, 0.43 ppm Au, 106 ppm AgEq, NSR USD 192/t, contained metal 9,100 koz Ag, 51 koz Au, 13,000 koz AgEq. La Raya Vein Measured + Indicated 4,920,000 tonnes, grade 81 ppm Ag, 0.45 ppm Au, 112 ppm AgEq, NSR USD 203/t, contained metal 12,800 koz Ag, 71 koz Au, 18,000 koz AgEq. La Raya Vein Inferred 2,000,000 tonnes, grade 69 ppm Ag, 0.35 ppm Au, 93 ppm AgEq, NSR USD 169/t, contained metal 4,400 koz Ag, 23 koz Au, 6,000 koz AgEq. Zopilote Vein Inferred 460,000 tonnes, grade 68 ppm Ag, 0.36 ppm Au, 92 ppm AgEq, NSR USD 168/t, contained metal 1,000 koz Ag, 2 koz Au, 1,100 koz AgEq. Total Resources (3 vein systems): Measured + Indicated: 5,660,000 tonnes, grade 79 ppm Ag, 0.42 ppm Au, 108 ppm AgEq, NSR USD 195/t, contained metal 14,300 koz Ag, 76 koz Au, 20,000 koz AgEq. Inferred: 3,900,000 tonnes, grade 66 ppm Ag, 0.31 ppm Au, 87 ppm AgEq, NSR USD 159/t, contained metal 8,300 koz Ag, 36 koz Au, 11,000 koz AgEq. AgEq = Ag + Au 68.85 (calculated using a gold to silver price ratio of 68.85, metal prices of USD 73/oz Ag, USD 4,550/oz Au, and presumed recoveries of 86% for Ag and 95% for Au); Significant 3 SF Measured Resources and 2 SF for Indicated and Inferred resources. The independent Qualified Person for the Mineral Resource Estimate (MRE), as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, is Mr. Simon Mortimer (FAIG #7795) of Atticus Geoscience Consulting Ltd. The effective date of the Mineral Resource Estimate is August 21, 2026. The MRE was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (2019) and the CIM Definition Standards for Mineral Resources & Mineral Reserves (2014). The quantity and grade of the mineral resources reported in this exploration study are sufficient to define them as Inferred, Indicated, or Measured mineral resources. Estimation domains were built from geological data of drill holes, surface mapping and using Ag grade thresholds of 15 ppm Ag based on statistical analysis of the core assay. The Mineral Resource Statement is reported at a break-even NSR cut-off of USD 90.00/t, based on commodity prices, metallurgical recoveries, selling costs, operating costs, and appropriate underground mine modifying factors. Geological and block models for the MRE used data from a total of 61 surface drill holes, completed by Stroud Resources Ltd. The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by Stroud. Estimates have been rounded to 3 Significant for Measured resources and 2 Significant for Indicated and Inferred resources. A 2 m x 2 m x 2 m block model was created, and samples were composited at 1.5 m intervals. Grade estimation from drill hole data was carried out for Ag and Au using the Inverse Distance Weight interpolation method in Micromine software. The final resource was reported using a regularized block model with a block size of 2 m x 2 m x 2 m, which was deemed appropriate for the mineralization style and potential mining selectivity. The MRE is reported above a base economic cut-off grade of USD 90.00/t NSR (break-even), based on the continuity of mineralized blocks within the model. The following parameters were applied to define this economic threshold: Mining costs and revenues reported in USD. Metal prices: USD 73/oz silver (with a USD 7.30/oz selling cost) and USD 4,550/oz gold (with a USD 455.00/oz selling cost). Underground operational cost assumptions totaling USD 90.00/t, consisting of USD 60.00/t for selective underground mining and USD 30.00/t for processing and G&A, for a 3,000 tpd operation. Recovery percentage for the metals: Ag = 86% and Au = 95%. The Mineral Resource Statement reports resources using both calculated AgEq and NSR. Block value was calculated as: NSR (USD/t) = Ag (ppm) 1.82 + Au (ppm) 125.07; AgEq (ppm) = Ag (ppm) + Au (ppm) 68.85. The NSR values for each metal was determined using the metal prices and recoveries stated. Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour and Inverse Distance Squared methods), swath plot analysis, cross-plots of declustered samples, and by visual inspection of the assay data, block model, and grade shells in cross-sections. The average density estimate of 2.65 g/cm³ (t/m³) is based on historical reference density information benchmarked to similar deposits in the area.

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Silver Hammer Mining Corp. and Stroud Resources Ltd. Announce Updated Mineral Resource Estimate for the Santo Domingo Silver-Gold Project

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