SILVER MOUNTAIN ANNOUNCES RESIGNATION OF ALFREDO PLENGE AS A DIRECTOR

SILVER MOUNTAIN ANNOUNCES RESIGNATION OF ALFREDO PLENGE AS A DIRECTOR

TORONTO, Oct. 17, 2025 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the "Company") (TSXV: AGMR) (OTCQB: AGMRF) (BVL: AGMR) today announces that Alfredo Plenge has resigned from his position as a Director of the Company, effective October 17, 2025. The Company thanks Mr. Plenge for his service and contributions to the board.

Mr. Plenge Thorne has been a Director of Silver Mountain since December 31, 2020 and has provided valuable experience and guidance to the Company. His decision to step down was made for personal reasons.

The board of directors extends its sincere appreciation to Mr. Plenge Thorne for his dedication during his tenure, which included significant company milestones such as Silver Mountain's initial public offering (IPO) in 2022 and several subsequent financings, secondary stock exchange listings on the Lima Stock Exchange and OTCQB in 2022, leadership and management transitions, significant underground drilling campaigns at Reliquias to identify new high-grade mineralization and extending known veins, a new resource estimate for the Reliquias project doubling the contained silver content in the measured and indicated categories, consolidating its land position in the Castrovirreyna district through its acquisition of the Lira de Plata project from Pan American Silver in 2022, delivering a positive PEA in May 2024 for the Reliquias project highlighting its economic viability, securing an extension of the Company's Environmental Impact Assessment (EIA) permit until 2034 and receiving final government approval for its mine closure plan in 2024, signing a 20-year surface land-use agreements with local communities in 2024 and 2025, a crucial step for restarting mining operations, and beginning preparatory work for restarting the Reliquias project in September 2025, including mine development and maintenance of the processing plant and tailings facility.

The Company wishes him all the best in his future endeavors.

The board will now consist of José Vizquerra (Chairman), Juan Carlos Ortiz, Julio Arce, Tim Loftsgard, Johnny Decooman and Gerardo Fernandez. Mr. Plenge will remain as a consultant to the Company through a period of transition.

About Silver Mountain Resources Inc.

Silver Mountain Resources Inc. is a Canadian mining company focused on the exploration and development of silver projects in Peru. The Company's principal asset is the Reliquias Project, a past-producing silver mine located in the Castrovirreyna district of Huancavelica. Silver Mountain is committed to creating long-term value for its shareholders through responsible mining, strong community engagement, and sustainable development practices.

www.agmr.ca

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SOURCE Silver Mountain Resources Inc.