Silver Hammer Commences Surface Exploration Program at the Eliza High-Grade Silver Project in Nevada

Silver Hammer Mining Corp. (CSE: HAMR,OTC:HAMRF) (OTCID: HAMRF) (the "Company" or "Silver Hammer") is pleased to announce the commencement of an extensive surface work program at the Eliza Silver Project ("Eliza") located in White Pine County, Nevada. The program will include a geological mapping, rock and soil sampling exploration program aimed at further defining and expanding on previous positive results to assist in the planned future drill program.

Peter A. Ball, President & CEO of Silver Hammer, commented, "We are pleased to commence this important surface exploration program at our Eliza Silver Project in Nevada. This work represents the next step in unlocking the project's potential, with detailed rock sampling, geochemical surveys, and mapping designed to refine, prioritize and finalize our high-quality drill targets. While we continue to advance our Plan of Operations through the permitting process, which has experienced longer review timelines due to a significant permitting backlog across Nevada, this program allows us to efficiently utilize the time by further enhancing our geological understanding of the project. The results will help optimize drill targeting and position us to move quickly once drilling permits are received. We believe Eliza hosts significant exploration upside, and this work reinforces our commitment to advancing the project in a disciplined, systematic, and value-focused manner."

The surface work program will commence in the Passayank historical mine area and will focus on a newly defined Au-Ag zone, previously referred to the "New Western Anomaly" in a prior press release dated October 25, 2022, where the Company plans to complete 400 additional soil samples. The Eliza project is proximal to the operating Pan Mine, the Mt. Hamilton Project, the Gold Rock property and the Green Springs property.

A total of 530 soil and 50 rock samples were previously collected by the Company in the northern Eliza project area. Significant soil sample results were found over a broad 200 metre ("m") diameter Passayank area by the Company with results ranging from below detection limit up to 26.95 g/t silver ("Ag"). Overall, 14 soil samples assayed greater than 2 g/t Ag with anomalous copper, lead, antimony, and zinc. Of note, care and attention were given to eliminate any samples collected from historical mine dumps or transported surface debris. Refer to technical disclosure previously announced in news release dated October 25, 2022.

Eliza North Area

The Eliza North Grid Area includes the Belmont, Passayank and California showings, which is a collection of historical small-scale mineralized silver mine workings. The historical mines are accessible by road and are situated within 670 m of each other (Figure 1). Each historical small mine has a distinct geochemical anomaly collectively stretching over 700 m. The Passayank historical mine area is the strongest multi-element rock and soil anomaly.

In the upcoming exploration program, the northern area of the Eliza project will see additional mapping and rock sampling of geological units working towards expanding the Passayank breccia zone in size. This detailed geological mapping will also support further definition of this zone and may support potential additional drill targets planned upon completion of permitting of the project. Rock sampling will occur in the Passayank southern breccia zone, that has not been recently sampled but was sampled in the 1960s and had positive historical results.

New Western Au-Ag Anomaly

Silver Hammer will be investigating the New Western Au-Ag Anomaly area with an additional 400 soil samples spaced 25 metres apart to provide definition, clarity and potential lateral extensions to this anomaly. It is not apparent in any historical mining literature that geologists and prospectors previously worked in this area, and it is a new early-stage discovery by the Company (Figure 1). The New Western Au-Ag Anomaly is on the edge of a wider spaced soil grid, but adjacent to the prospective Eberhardt fault zone.

Previous soil sampling in 2022 came back with elevated gold and silver creating interest in this new Au-Ag anomaly. Two soil samples south of the Eberhardt Fault on the west side of the grid are shown below (Table 1).

Table 1: Western Au-Ag Anomaly from October 25, 2022

Refer to technical disclosure previously announced in news release dated October 25, 2022.

Sampling Protocol

Soil samples were collected from the "B Horizon" every 75 m on 75 m line spacing and then infilled on a 37.5 m spacing in areas of greater interest. Typical sample depths ranged between 30 and 45 centimetres.

Figure 1: Eliza North Area 

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About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a mineral exploration and development company focused on acquiring, exploring and advancing precious metals projects in the United States. Silver Hammer holds a 100% interest in three exploration-stage brownfield silver properties: the Silver Strand Project, located in the Silver Valley Mining District of Kootenai County, Idaho; the Eliza Silver Project, located in White Pine County, Nevada; and the Silverton Silver Mine Project, located in Nye County, Nevada. Silver Hammer also holds an option to acquire a 100% interest in the Fahey Group Property, located in the Silver Belt portion of the Coeur d'Alene Mining District, Shoshone County, Idaho.

Forward-Looking Information

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern, without limitation, the Company's strategic plans, timing and expectations for the Company's exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward- looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

The CSE does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

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