Silver Mountain Files YE 2025 Annual Filings
Executive Summary
A notable aspect of these filings involved correcting previous disclosure errors identified by the Ontario Securities Commission. In its Q3 2025 interim financial report, the company had incorrectly stated that proven and probable reserves had been established at the Reliquias Mine. The annual filings clarify that no mineral reserves, as defined under National Instrument 43-101 standards, have been established at the property. This correction demonstrates the heightened scrutiny and disclosure standards that come with TSX listing status.
The correction regarding mineral reserves is significant for investors evaluating Silver Mountain's asset base. While the Reliquias Project remains the company's principal asset and is a past-producing silver mine in Peru's Castrovirreyna district, the absence of NI 43-101 compliant reserves means the project remains at an earlier development stage than previously communicated. The project is supported by a Preliminary Economic Assessment completed in 2024, but establishing formal reserves will require additional technical work and investment.
For the broader silver mining sector, this filing highlights the importance of rigorous technical disclosure standards and the regulatory oversight that increases as companies graduate to senior exchanges. Silver Mountain's commitment to responsible mining practices and sustainable development in Peru positions it within the growing focus on ESG considerations in mining investment, though execution of these principles will be critical as the company advances its flagship project through the development pipeline.
AI-Generated Summary. This was written by a robot, not a human. It may contain errors, hallucinations, or confident-sounding nonsense. Always verify facts against the original source before making any decisions.
Press Release
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN OR INTO THE UNITED STATES
TORONTO, CANADA – May 1, 2026 – Silver Mountain Resources Inc. (“Silver Mountain” or the “Company“) (TSX:AGMR, OTCQB:AGMRF, BVL:AGMR) announces the filing of its annual financial statements, management’s discussion and analysis and annual information form for the year ended December 31, 2025 (collectively, the “Annual Filings“). The Annual Filings are available on SEDAR+ (www.sedarplus.ca) under Silver Mountain’s issuer profile.
The Annual Filings are Silver Mountain’s first filings as a Toronto Stock Exchange listed issuer, and the Company looks forward to meeting the accelerated disclosure timelines applicable to non-venture issuers on a go-forward basis.
The Company also wishes to clarify prior disclosure contained in its interim financial report for the three and nine months ended September 30, 2025, at the request of the OSC. In that interim filing, the Company inadvertently stated that “proven and probable reserves have been established” at the Reliquias Mine, which was an inadvertent error, as no mineral reserves, as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, have been established at the Reliquias Mine. The Company’s annual financial statements for the year ended December 31, 2025 include revised disclosure that corrects this error.
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.
The scientific and technical information relating to the Reliquias Mine is supported by the technical report entitled “Amended and Restated NI 43-101 Technical Report: Preliminary Economic Assessment, Reliquias Mine” dated October 28, 2024 (with an effective date of May 15, 2024), prepared for the Company by Steven L. Park, Antonio Cruz Bermudez and Gerardo Acuña (the “Reliquias PEA“). Reference should be made to the full text of the Reliquias PEA, which is available on SEDAR+ (www.sedarplus.ca) under Silver Mountain’s issuer profile, for the assumptions, qualifications and limitations relating thereto.
For further information, please contact:
Alvaro Espinoza Chief Executive Officer Silver Mountain Resources Inc. 82 Richmond Street East, Toronto, ON M5C 1P1 +51 997 377 968
Caution Regarding Forward-Looking Statements
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation (together, “forward-looking statements”). Forward-looking statements are not guarantees of performance and, by their nature, require Silver Mountain to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”, “continue”, “objective”, “strategy”, “designed to”, “target”, “potential”, “positioned”, variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. The forward-looking statements in this news release are based on certain assumptions, including, but not limited to: the Company’s continued compliance with all applicable listing requirements of the TSX; the Company’s ability to maintain its status as a reporting issuer under applicable Canadian securities laws; the absence of material adverse changes in general economic conditions or capital markets; favourable operating and business conditions; and the continued listing of the Common Shares on the OTCQB Venture Market and the Lima Stock Exchange. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: the risk that the anticipated benefits of the TSX listing may not be realized; risks related to the Company’s ability to comply with the continued listing requirements of the TSX; fluctuations in commodity prices, including silver prices; risks related to operating in Peru, including political, regulatory and economic uncertainties; general economic, market and business conditions; and the other factors identified in the Company’s continuous disclosure record on SEDAR+ (www.sedarplus.ca) under Silver Mountain’s issuer profile, including under the headings (i) “Caution Regarding Forward-Looking Statements” and “Risk Factors” in the Annual Information Form of the Company dated April 30, 2026 for the year ended December 31, 2025; (ii) “Risk Factors” in the final base shelf prospectus of the Company dated October 16, 2025; and (iii) “Risk Factors” in the prospectus supplement of the Company dated November 12, 2025.
Silver Mountain undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Silver Mountain to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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