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Silver Storm Announces Non-Brokered Private Placement Offering of Up to $2.0 Million

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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

TORONTO, December 05, 2024--(BUSINESS WIRE)--Silver Storm Mining Ltd. ("Silver Storm" or the "Company") (TSX.V: SVRS | FSE: SVR), announces its intention to complete a non-brokered private placement offering of up to 22,222,222 units of the Company ("Units") at a price of $0.09 per Unit (the "Issue Price") for gross proceeds of up to $2,000,000 (the "Offering"). The Company reserves the right to increase the size of the Offering, subject to the approval of the TSX Venture Exchange ("TSXV").

Each Unit will consist of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant shall be exercisable to acquire one (1) additional Common Share at an exercise price of $0.16 until thirty-six (36) months from the date of issuance (the "Expiry Date").

The Company intends to use the net proceeds from the Offering to complete its upcoming NI 43-101 resource statement and for general corporate and working capital purposes.

In connection with the Offering, the Company may pay finders’ fees in cash or securities, or a combination of both, as permitted by the policies of the TSXV.

The Offering will be available to accredited investors in all the provinces and territories of Canada, pursuant prospectus registration exemptions available under NI 45-106 – Prospectus Exemptions. The Offering may be conducted in the United States pursuant to exemptions from the registration requirements under Rule 144A and/or Regulation D of the United States Securities Act of 1933, as amended (the "1933 Act"), subject to receipt of all necessary regulatory approvals, and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction. The securities issued and issuable pursuant to the Offering will be subject to a four month and one day hold period.

The Offering may close in one or more tranches. The closing is subject to certain conditions including, but not limited to, the completion of documentation and the receipt of all necessary regulatory and other approvals, including the approval of the TSXV and applicable securities regulatory authorities.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable U.S. state securities laws.