SILVER MOUNTAIN INCREASES PREVIOUSLY ANNOUNCED BOUGHT DEAL FINANCING TO C$26 MILLION

Silver Mountain Resources Inc. has announced an increase to its previously disclosed bought deal financing, bringing the total to C$26 million. The Vancouver-based precious metals company trades on the TSX Venture Exchange under the symbol AGMR and on the OTCQB under AGMRF.

Concurrent with the financing announcement, Silver Mountain has commenced preparatory activities aimed at restarting operations at its Reliquias Project, located in the Castrovirreyna district of Huancavelica, Peru. This development signals the company's intention to bring the silver asset back into production following what appears to have been a period of care and maintenance.

The increased financing provides Silver Mountain with additional capital to support the restart activities at Reliquias. For the precious metals sector, this represents another example of companies securing funding to bring previously developed assets back online, particularly as silver prices have shown strength in recent periods. The company's ability to upsize its financing also suggests strong investor interest in the project's restart potential.

The restart of operations at Reliquias could position Silver Mountain as a near-term silver producer in Peru's established mining jurisdiction. The success of this restart will likely depend on the company's ability to efficiently execute its preparatory activities and achieve targeted production levels once operations resume.