SILVER MOUNTAIN REPORTS HIGH GRADE SILVER IN UNDERGROUND CHANNEL SAMPLING PROGRAM AND PROVIDES UPDATE ON STOCKPILING AT ITS RELIQUIAS PROJECT, PERU /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prngen4{ PADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: MIDDLE; TEXT-ALIGN: CENTER; BORDER-TOP:black 1pt; BORDER-RIGHT:black 0.5pt solid; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 0.5pt solid } .prngen5{ PADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: MIDDLE; TEXT-ALIGN: CENTER; BORDER-TOP:black 1pt; BORDER-RIGHT:black 0.5pt solid; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 1pt } .prngen3{ PADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: MIDDLE; TEXT-ALIGN: CENTER; BORDER-TOP:black 0.5pt solid; BORDER-RIGHT:black 0.5pt solid; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 1pt } .prnml4{ MARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT } .prnbsbls{ BORDER-LEFT:black 0.5pt solid } .prncbts{ BORDER-TOP:black 0.5pt solid } .prnbbbs{ BORDER-BOTTOM:black 0.5pt solid } .prnvam{ VERTICAL-ALIGN: MIDDLE } .prnpr2{ PADDING-RIGHT:0.17em } .prnbcc{ BORDER-COLLAPSE: COLLAPSE } .prnpl2{ PADDING-LEFT:0.17em } .prntac{ TEXT-ALIGN: CENTER } .prnbrbrs{ BORDER-RIGHT:black 0.5pt solid } Canada NewsWire Key Highlights – Channel sampling at Reliquias Ayayay vein: 1.07m @ 336 g/t Ag, 10.7 % Pb, 11.7 % Zn, 2.7 % Cu and 0.34 g/t Au Ayayay vein: 1.04m @ 414 g/t Ag, 17.3 % Pb, 8.5 % Zn, 3.1 % Cu and 0.28 g/t Au Tensional Ayayay vein: 0.82m @ 510 g/t Ag, 7.4% Pb, 13.3% Zn, 1.0% Cu and 0.31 g/t Au Tensional Ayayay vein: 1.17m @ 168 g/t Ag, 5.3% Pb, 10.1% Zn, 0.4% Cu and 0.15 g/t Au TORONTO, Nov. 27, 2025 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the "Company") (TSXV: AGMR) (OTCQB: AGMRF) is pleased to provide an update on ongoing underground channel sampling and early-stage stockpiling of mineralized material at its Reliquias Project, located in Huancavelica, Peru. These activities are part of the Company's planned mine-readiness work aimed at starting commercial production at its Reliquias Project during Q3 of 2026. Alvaro Espinoza, President and CEO of Silver Mountain, said: "We are encouraged by the consistent strong grades from the Ayayay vein and associated structures – reinforcing the high-grade quality of the Reliquias deposit. The commencement of stockpiling adds to the substantial progress that we have been making at Reliquias, now visible on site. We are advancing the project with purpose as we work toward our targeted commercial production in Q3 2026. Our shareholders can expect continued delivery on the milestones that support that timeline. I am proud to highlight the outstanding performance of our team underground." Recent channel samples collected by the Company's technical team from the Ayayay and Matacaballo vein systems, which include conjugate – or "Tensional" – veins, on Level 340 have returned high grades of silver, lead, zinc, and copper. The silver equivalent grades obtained during this round of sampling often exceed those reported in the mineral resource estimate (see https://agmr.ca/wp-content/uploads/2025/01/Final_-_7_-_AR_Tech_Report.pdf), confirming the existence of readily accessible high grade polymetallic veins at various mine levels. All samples were collected perpendicular to the veins using portable rock saws. Table 1 shows a summary of the results from the eight recently sampled channels. Table 1: Underground channel samples reported in this news release Level Vein Channel Sample Type Width Silver Lead Zinc Copper Gold Ag_Eq1 m g/t % % % g/t Oz/t 340 Ayayay CN-07 SMR-025269 Vein 1.07 336 10.70 11.70 2.70 0.34 27.34 CN-08 SMR-025272 Vein 1.04 414 17.30 8.50 3.06 0.28 32.08 Tensional Ayay_1 CN-05 SMR-025262 Vein 0.82 510 7.40 13.30 0.98 0.31 30.11 CN-06 SMR-025265 Vein 1.17 168 5.30 10.10 0.38 0.15 15.07 Tensional Ayay_2 CN-01 SMR-025248 Vein 0.65 82 3.20 4.10 0.24 0.26 7.69 CN-04 SMR-025259 Vein 0.97 114 2.43 4.10 0.32 0.09 8.00 Matacaballo CN-02 SMR-025251 Vein 0.90 16 0.33 0.53 0.03 0.04 1.13 CN-03 SMR-025255 Vein 0.44 29 0.11 0.75 0.04 0.07 1.61 Note: 1. Silver equivalent (Ag_Eq) grades are calculated using metal prices of: Ag US$32.40/oz., Au US$3,188/oz, Cu US$9,502/tm, Pb US$1,984/tm and Zn US$2,756/tm. Silver equivalent grade is calculated as Ag_Eq (oz/t) = (Ag (oz/t) + (Au (g/t) * 2.15) + (Cu (%) * 1.03) + (Pb (%) * 0.58) + (Zn (%) * 0.58), using metallurgical recoveries of 94.5% Ag, 81.2% Au, 89.6% Pb, 85% Zn, and 93.6% Cu. Figure 1 below presents a level plan of Level 340 at the Reliquias mine, where Company crews are continuing to upgrade underground workings in preparation for upcoming commercial production. The Company also announces that it has now stockpiled approximately 525