Silver Mountain Resources Advances Toward Production at Reliquias Mine; Fully Funded and On Track for Q3 2026 Restart

Silver Mountain Resources has delivered a significant operational update demonstrating strong execution across its Reliquias mine development in Peru, positioning the company for a successful transition to production in Q3 2026. The company has completed over 3,000 metres of underground linear development, establishing the foundation for mining operations, while simultaneously advancing surface infrastructure with all major plant equipment delivered and installation underway. The project benefits from a robust financial position with over US$30 million in treasury, ensuring full funding through to production restart.

The operational readiness indicators are particularly compelling, with 12,000 tonnes of ore already stockpiled and critical infrastructure including the tailings storage facility, camp infrastructure, power lines, and water treatment facilities all completed and operational. This comprehensive approach to development significantly reduces execution risk as the company approaches commercial production. The parallel advancement of an infill drilling program supports mineral resource conversion and near-term mine planning optimization.

The broader strategic context includes brownfield exploration at the company's Caudalosa Mine, reinforcing Silver Mountain's district-scale growth strategy beyond the immediate Reliquias restart. This dual-asset approach positions the company for both near-term cash flow generation and longer-term production expansion within the established Huancavelica region.

For the silver sector, this development represents a meaningful addition to near-term production capacity, particularly given the current silver market dynamics and the project's past-producing status which reduces geological risk. The Q3 2026 timeline provides clear visibility for investors and positions Silver Mountain as a pure-play silver producer entering a potentially favorable pricing environment. The company's systematic approach to development and strong financial position distinguish it from many junior mining companies facing funding challenges in the current market environment.