Silver Storm Provides Bi-Weekly MCTO Status Update

Toronto, Ontario, August 27, 2024: Silver Storm Mining Ltd. (“Silver Storm” or the "Company") (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) is providing this bi-weekly update on the status of its management cease trade order issued on July 30, 2024 (the “MCTO”), by its principal regulator, the British Columbia Securities Commission (the “BCSC”), under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). The Company announced on July 30, 2024 (the “Default Announcement”), that it expected to be unable to file its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended March 31, 2024 (collectively, the “Annual Filings”) by the filing deadline of July 29, 2024 (the “Filing Deadline”).

As a result of certain complexities associated with the acquisition of the La Parrilla assets, the accounting and audit process remains ongoing at this time. The BCSC has given the Company until September 27, 2024 to complete its Annual Filings, which the Company anticipates being in a position to meet.

The Company also announces that the filing of its unaudited interim financial statements, related management's discussion and analysis and CEO and CFO certifications for the three months ended June 30, 2024 (the “Interim Filings”, and together with the Annual Filings, the “Required Documents”), will be delayed beyond the filing deadline of August 29, 2024 as a result of the delay in completing the Annual Filings. The Company expects the Interim Filings to be filed within five business days of the Annual Filings once completed. The MCTO will remain in effect until two full business days following the receipt by the BCSC of all filings the Company is required to make under British Columbia securities law, including the Required Documents. The MCTO does not affect the ability of other shareholders, including the public, to trade in securities of the Company.